Bengaluru: Embassy Office Parks REIT, India's first listed real estate investment trust, is evaluating a 12-13 million sq ft pipeline, including about 4 million sq ft from its sponsor, as it looks to scale its portfolio and enhance long-term income visibility.

The move follows Rs 9,800 crore of capital raised so far in FY26 and a Rs 4,000 crore development pipeline, positioning it to pursue yield-accretive, income-generating Grade A assets. The trust has a real estate portfolio exceeding 50 million sq ft.

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"We are actively evaluating a pipeline of about 12-13 msf... Inorganic growth will remain an important part of our strategy because it helps us scale NOI (net operating income) and Ebitda in a meaningful way," said Amit Shetty, chief executive of Embassy REIT.

Shetty said the REIT's growth strategy remains anchored in a calibrated mix of organic expansion, selective acquisitions and capital recycling.

"Alongside external growth, we are also advancing a 7.6 million sq ft development pipeline, with nearly 32% already pre-leased, offering strong visibility on future income streams," he said. "It is also investing ₹900-₹950 crore in two hotel projects, further diversifying its income base."

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The REIT, recently divested an asset at Embassy Manyata for around Rs 530 crore, redeploying capital into higher-yielding opportunities. The firm is also looking to lower its Rs 22,000-crore debt book.

"With about 60% fixed-rate exposure, we have improved stability while lowering borrowing costs, with some commercial paper issuances as low as 6.44%," said Shetty.