As India’s first listed REIT, Embassy REIT strives to maintain a best‑in-class investor relations programme that focuses on the highest levels of disclosure, transparency and communications with all our stakeholders.
Ritwik Bhattacharjee,
Head, Investor Relations
FY2020 highlights
25%
Total returns
200+
Institutional investors
engaged with globally
10+
Non-deal roadshows
and conferences
$1+ billion
Free float
5,462
Retail Unitholders
FTSE Russell
Index inclusion
Since listing, we have interacted with over 200 investors across geographies, including Bengaluru, Mumbai, New Delhi, Chennai, London, New York, Singapore, Hong Kong and Tokyo.
In particular, we focus on
Proactive investor relations and media management
We regularly host investors and analysts for site visits, and we actively encourage Unitholders to visit our sites to understand our portfolio and our business proposition better.
We have also conducted multiple non-deal roadshows, site visits and investor conferences since listing. In these events, we engage with institutional investors, such as global institutional fund managers, domestic mutual fund managers, life insurance companies, alternative investment funds, and high net worth individuals.
Event highlights
Broader stakeholder management and review
We also interact extensively with our regulators and exchanges to inform them of developments in the market. The reduction of trading lot sizes in September, for instance, was an important collaborative exercise to ensure that liquidity remains of paramount importance to Unitholders and to create a healthy trading environment for REITs.
Investor and analyst engagement calendar FY2020
| Date | Event | Venue |
|---|---|---|
| April 1 | Listing of REIT on Indian Stock Exchanges (NSE, BSE) | Mumbai |
| April 24 | Analyst Engagement Meeting | Mumbai |
| June 7 & 10 | International Non-deal Roadshow | London |
| June 11 | Morgan Stanley 21st Annual India Summit | Mumbai |
| June 19 | International Non-deal Roadshow | Singapore |
| June 20-21 | International Non-deal Roadshow | Hong Kong |
| July 25 | First Annual General Meeting | Bengaluru |
| Aug 13-14 | Domestic Non-deal Roadshow | Mumbai |
| Sep 5-6 | International Non-deal Roadshow | Tokyo |
| Sep 10-11 | Bank of America Merrill Lynch Global Real Estate Conference, 2019 | New York |
| Sep 19 | JP Morgan India Investor Summit | New Delhi |
| Sep 30 | International Non-deal Roadshow | Singapore |
| Nov 20-21 | Morgan Stanley Summit | Singapore |
| Nov 22 | International Non-deal Roadshow | Singapore |
| Feb 18 | Kotak Annual India Conference | Mumbai |
Analyst coverage
Embassy REIT is covered by following brokerage houses:
14
Sell-side analysts cover Embassy REIT
Committed to highest standards of disclosure and transparency
Embassy REIT adheres to the highest standards of corporate disclosure and transparency. We comply with all SEBI and exchange regulations to ensure that we fulfil our listing and notification requirement obligations.
We also place all notifications on our website to ensure that our Unitholders can easily access them. We have created a reporting package that mirrors the reporting standards of global REITs.
Every quarter, we deliver a consolidated set of information that includes:
Financial and distributions calendar FY2021
| Date | Event |
|---|---|
| Aug 2020 | 1Q FY2021 Results and Earnings Call |
| Payment of 1Q FY2021 Distribution | |
| Oct 2020 | 2Q FY2021 Result and Earnings Call |
| Payment of 2Q FY2021 Distribution | |
| Feb 2021 | 3Q FY2021 Results and Earnings Call |
| Payment of 3Q FY2021 Distribution | |
| Apr 2021 | 4Q FY2021 Result and Earnings Call |
| Payment of 4Q FY2021 Distribution |
Note: Above timelines and distribution are tentative based on past trends
Rewarding Unitholders
Comparative trading performance since listing
Source: NSE (Designated stock exchange), BSE and Factset as of March 31, 2020 since listing
25%
Total returns since listing
16.9%
Capital appreciation
8.1%
Distribution yield
Trading snapshot
| Key Statistics |
NSE | BSE |
|---|---|---|
| Unit Price | ||
| Listing: Apr 1, 2019 |
300.00 | 300.00 |
| Opening: Apr 1, 2019 (`) |
308.00 | 300.00 |
| Closing: Mar 31, 2020 (`) |
350.74 | 351.51 |
| 52-week High (`) | 512.00 | 518.00 |
| 52-week Low (`) | 301.35 | 300.00 |
| Market Capitalisation | ||
| ` Billion | 270.65 | 271.25 |
| Average Daily Trading Volume | ||
| Units | 398,951 | 60,856 |
| ` million | 154.99 | 24.06 |
Source: NSE (Designated stock exchange) and BSE as of March 31, 2020 since listing
On September 20, 2019 Embassy REIT was included in the FTSE Russell Global Equity Index series. The inclusion of Embassy REIT into the indices enables new pools of capital to invest in the REIT.
Unitholding pattern
| Particulars | Units (mn) |
% |
|---|---|---|
| Sponsor & Sponsor Group | ||
| Blackstone | 426.76 | 55.30 |
| Embassy | 115.48 | 14.97 |
| Total Sponsors | 542.25 | 70.27 |
| Institutions | ||
| Foreign Portfolio Investors | 126.32 | 16.37 |
| Body Corporates | 5.09 | 0.66 |
| Mutual Funds | 2.16 | 0.28 |
| Insurance Companies | 1.83 | 0.24 |
| NBFCs | 1.29 | 0.17 |
| Alternative Investment Funds | 0.60 | 0.08 |
| Trusts | 0.25 | 0.03 |
| Clearing Members | 0.08 | 0.01 |
| Sub-total Institutions | 137.61 | 17.83 |
| Non-Institutions | ||
| Individuals | 90.77 | 11.76 |
| NRIs - Non-Repatriable | 0.68 | 0.09 |
| Hindu Undivided Family | 0.19 | 0.03 |
| Non-resident Indians (NRIs) | 0.16 | 0.02 |
| Sub-total Non-Institutions | 91.80 | 11.90 |
| Total Units Outstanding | 771.67 | 100% |
Note: As of March 31, 2020