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Below are Quote on Embassy REIT - 4QFY21 by Mr. Yash Gupta Equity Research Associate, Angel Broking Ltd   

Embassy Reit reported numbers in line market expectation, this quarter NOI grew by more than12% with operating margins of 86%. Company has simplified its holding structure also thereby the tax free component of distribution increased to 78% in Q4FY21, this quarter the embassy announced the dividend of ₹2.21, capital repayment of ₹2.15 and interest of ₹1.24. Total distribution of ₹5.60 for Q4FY21 and 21.48 for the FY2021 which is slightly above the management guidance of ₹21.45, Embassy able to achieve the yield of 6.9% for the year 2021.

For the Q4FY2021 occupancy levels at 89% and collections at 99.8% which are in line with expectation. Embassy achieved 13% rent escalation on 8.3MnSft property.

Embassy hospitality segment has reported occupancy of 17-19% and negative EBITDA of ₹6.5 crores in Q4FY2021, Current second wave is likely to delay the recovery in hospitality segment, demand expected to remain muted in FY2022.

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