External broker reports(aggregated public sources), Axis Direct

Axis Direct

External broker reports(aggregated public sources)

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

Embassy Office Parks REIT / Equity Bottom-Up

<ul><li>EMBASSY reported revenue of Rs 857 Cr, up 12% YoY, which stood better than our estimates. The company's commercial office business grew by 7.7% YoY to Rs 595 Cr and the hotel business grew Rs 80 Cr YoY from Rs 13 Cr.</li><li>The NOI increased by 12.9% YoY and the EBITDA margins remained healthy in that range of 75.3%.</li><li>The company reported PAT degrowth of -34.4% YoY due to high depreciation costs and Tax rates. </li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

EMBASSY reported revenue of Rs 857 Cr, up 12% YoY, which stood better than our estimates. The company's commercial office business grew by 7.7% YoY to Rs 595 Cr and the hotel business grew Rs 80 Cr YoY from Rs 13 Cr.The NOI increased by 12.9% YoY and the EBITDA margins remained healthy in that range of 75.3%.The company reported PAT degrowth of -34.4% YoY due to high depreciation costs and Tax rates. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Embassy Office Parks REIT - Stable Occupancies Led by Back-To-Office Drive

External broker reports(aggregated public sources), Nirmal Bang

Nirmal Bang

A Relationship Beyond Broking

Nirmal Bang, one of the leading stock broking companies in India, caters to retail and institutional clients by offering them a range of financial products and services, including equities, derivatives, commodities, currency derivatives, mutual funds, IPOs, insurance, depository services and PMS.

Nirmal Bang is drawn from a diversity of professional backgrounds, and blend of experience, skill and dedication is shared with its clients. Nirmal Bang emphasizes adequate, thorough research local and world-wide developments, balancing these with the astute discovery of intrinsic values, synergies and growth. The aim is simply to help the investors to maximize their returns.

<div><ul><li>Revenue up ~1.4% YoY and 1% QoQ at Rs7,488mn in 4QFY22: In 4QFY22, EOPR reported revenue of Rs7,488mn, up 1.4% YoY and 1% QoQ.</li><li>EBITDA margin down by 190bps QoQ but up by 480bps YoY at 76.7%: EBITDA in 4QFY22 increased by 480bps YoY to 76.7% due to: (1) Increase in revenue by 1.4% YoY (2) Decline in other expenses by 22.4% YoY primarily due to (a) decline in rates and taxes by 92.4%YoY (b) decline in valuation expenses by 42.4% YoY (c) decline in miscellaneous charges by 18.7% YoY.</li></ul><div><div><div><div><div><ul><li>Rise in depreciation expenses: Depreciation expenses rose by 1.8% QoQ to Rs2,024mn due to acquisition of fixed assets for the CAM services business.</li></ul></div></div></div></div></div></div><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Revenue up ~1.4% YoY and 1% QoQ at Rs7,488mn in 4QFY22: In 4QFY22, EOPR reported revenue of Rs7,488mn, up 1.4% YoY and 1% QoQ.EBITDA margin down by 190bps QoQ but up by 480bps YoY at 76.7%: EBITDA in 4QFY22 increased by 480bps YoY to 76.7% due to: (1) Increase in revenue by 1.4% YoY (2) Decline in other expenses by 22.4% YoY primarily due to (a) decline in rates and taxes by 92.4%YoY (b) decline in valuation expenses by 42.4% YoY (c) decline in miscellaneous charges by 18.7% YoY.Rise in depreciation expenses: Depreciation expenses rose by 1.8% QoQ to Rs2,024mn due to acquisition of fixed assets for the CAM services business.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Embassy Office Parks REIT - New Lease Momentum Starting to Pick Up

India

Embassy Office Parks REIT is India's first publicly listed Real Estate Investment Trust (REIT) and one of Asia's largest office REITs by area. It owns and operates a portfolio of high-quality office parks and city-center office buildings, focusing on leasing Grade A commercial real estate in major Indian tech hubs like Bengaluru, Mumbai, Pune, and the National Capital Region (NCR). The company was established on March 30, 2017, and its headquarters are in Bengaluru, Karnataka, India.

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Embassy Office Parks REIT (EMBASSY IN)

Embassy Office Parks REIT - Stable Occupancies Led by Back-To-Office Drive

The NOI increased by 12.9% YoY and the EBITDA margins remained healthy in that range of 75.3%. The company reported PAT degrowth of -34.4% YoY due...

Axis Direct

Embassy Office Parks REIT - New Lease Momentum Starting to Pick Up

Given the relatively reduced intensity of the third covid wave, the combination of rising demand and relatively lower new supply will drive the...

Nirmal Bang

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