EFC (I) gets approval for its small and medium REIT
04 Nov 2024
2 Min Read
CW Team
EFC (I), through its wholly-owned step-down subsidiary EFC REIT, has received registration from SEBI for Emberstone SM REIT as a small and medium real estate investment trust (SM REIT) under the Securities and Exchange Board of India (Real Estate Investment Trusts) Regulations, 2014.
As a result, Emberstone SM REIT will be eligible to make an initial offer for units of its first scheme for an amount of up to Rs 5 billion. The company intends to raise and deploy capital through the initial public offering process to acquire commercial properties, which will be managed and operated by EFC REIT.
This development is expected to significantly expand the EFC Group's assets under management (AUM) and its managed office space portfolio nationwide. EFC (I) reported a growth of 230.26 per cent in its net consolidated profit for the quarter ending September 30, 2024, with a profit after tax of Rs 360.56 million and a net consolidated total income of Rs 171.08 crore in Q2 FY25.
In a separate regulatory filing, the company announced that it had executed a letter of intent (LOI) for the lease of a property covering 78,084 sq ft in Hyderabad, which adds to its existing space at Silicon Towers. The additional space, spanning three floors, has a seating capacity of over 1,700. The company stated that this consolidation brings its total presence to approximately 200,000 sq ft in a single building, allowing for improved cost efficiency, streamlined management, and enhanced service offerings.
EFC (I), through its wholly-owned step-down subsidiary EFC REIT, has received registration from SEBI for Emberstone SM REIT as a small and medium real estate investment trust (SM REIT) under the Securities and Exchange Board of India (Real Estate Investment Trusts) Regulations, 2014.
As a result, Emberstone SM REIT will be eligible to make an initial offer for units of its first scheme for an amount of up to Rs 5 billion. The company intends to raise and deploy capital through the initial public offering process to acquire commercial properties, which will be managed and operated by EFC REIT.
This development is expected to significantly expand the EFC Group's assets under management (AUM) and its managed office space portfolio nationwide. EFC (I) reported a growth of 230.26 per cent in its net consolidated profit for the quarter ending September 30, 2024, with a profit after tax of Rs 360.56 million and a net consolidated total income of Rs 171.08 crore in Q2 FY25.
In a separate regulatory filing, the company announced that it had executed a letter of intent (LOI) for the lease of a property covering 78,084 sq ft in Hyderabad, which adds to its existing space at Silicon Towers. The additional space, spanning three floors, has a seating capacity of over 1,700. The company stated that this consolidation brings its total presence to approximately 200,000 sq ft in a single building, allowing for improved cost efficiency, streamlined management, and enhanced service offerings.
Next Story
Hitachi Vantara Named Leader in AI Storage Solutions
Hitachi Vantara, the data storage and hybrid cloud management arm of Hitachi Ltd., has been named a Leader and Fast Mover in the 2025 GigaOm Radar for High-Performance Storage Optimised for AI Workloads. This marks the debut edition of the report, which evaluates enterprise-grade storage solutions designed to meet the complex demands of artificial intelligence and machine learning environments.The recognition underscores Hitachi Vantara鈥檚 ability to deliver robust, scalable, and future-ready storage infrastructure. The company鈥檚 Hitachi iQ portfolio stood out for its enterprise-class perfo..
Next Story
Only 23% of REIT-Ready Office Stock Listed in India
As of 2025, only 23 per cent of India鈥檚 520 million square feet of REIT-ready office stock across the top seven cities is currently listed under the country鈥檚 three real estate investment trusts鈥擡mbassy Office Parks, Mindspace Business Parks, and Brookfield India REIT. This leaves substantial room for future listings and market consolidation in the commercial real estate sector.ANAROCK Research reveals that the combined REIT portfolio of these three entities stands at just 117.2 million square feet. This signals a vast untapped potential in India鈥檚 maturing REIT ecosystem, which was on..
Next Story
ACML to Raise Rs 650 Mn via NSE Emerge IPO
Ashwini Container Movers Limited (ACML), a Navi Mumbai-based cargo transport firm, plans to raise approximately Rs 650 million through a fresh equity issue following in-principle approval from NSE Emerge for its proposed Initial Public Offering (IPO). The issue will comprise up to 5 million equity shares of face value Rs 10 each, offered via the book-building route.Corporate Professionals Capital Private Limited will act as the Book Running Lead Manager, while Bigshare Services Private Limited is the Registrar to the issue.Of the total proceeds, around Rs 569.4 million will be used for repayme..
