K
Knowledge Realty Trust
KRT NSE
Knowledge Realty Trust
Consumer DiscretionaryNSE: KRT BSE: 544481 Realty
Key Fundamentals
MidcapMarket Cap
₹52,007 Cr
P/E Ratio
82.62
EBITDA
₹2,533 Cr
Return on Equity
0.87%
Debt to Equity
0.29
Book Value
₹98.21
52W High
₹129.07
52W Low
₹103
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view Knowledge Realty Trust insights
32 extracted metrics + investor summaries across FY23–FY26.
Tapetide Score
Data-driven rating, 0–100. How it works →
Technical Indicators
Growth Rate
Revenue Growth
-
Net Income Growth
-15741.67% ↘
Cash Flow Change
2031.17% ↗
ROE
-99.13% ↘
ROCE
-97.37% ↘
EBITDA Margin (Avg.)
-
AI Analysis — Bull vs Bear
anthropic claude-opus-4.6 2d agoAI opinion · based on fundamentals
Risk medium
Knowledge Realty Trust is India's largest office REIT by Gross Asset Value (₹61,999 Cr as of March 2025) with a portfolio of ~46.3 million sq ft across six cities. It trades at a P/E of 83.3x and P/B of 1.2x with a market cap of ~₹52,242 Cr, having delivered 16% revenue growth and 18% NOI growth in FY26 while maintaining 92% portfolio occupancy.
Bull Case 8
- Largest office REIT in India by GAV of ₹61,999 Cr and NOI of ₹3,432 Cr in FY25, providing scale advantages and tenant diversification across 46.3 msf
- Revenue grew 16% YoY to ₹4,577 Cr in FY26, demonstrating strong top-line momentum driven by robust leasing of 3.5 million sq ft during the year
- NOI margin of 88% in FY26 with NOI growing 18% YoY to ₹4,048 Cr, indicating highly efficient operations and strong rental income conversion
- Portfolio occupancy at 92% as of Q4 FY26, highest among Indian REITs, with WALE of 8.4 years providing long-term cash flow visibility
- In-place rents are 22.6% below market rates, offering significant mark-to-market re-leasing upside as leases come up for renewal
- High-quality tenant mix with 74.1% rentals from MNCs, 43.6% from GCCs, and 38.2% from Fortune 500 companies, reducing credit risk
- Q1 FY27 NOI rose 15% YoY to ₹1,243 Cr with record distribution of ₹751.6 Cr to unitholders, showing continued growth trajectory
- Dividend yield of 1.45% supplemented by distribution policy; FY26 Q4 distribution was ₹716.6 Cr, providing regular income to unitholders
Bear Case 8
- Elevated P/E of 83.3x implies market is pricing in significant future growth; any execution miss could lead to sharp de-rating
- Compounded sales growth of only 2% over 3 years (pre-REIT structure) suggests the entity's historical revenue trajectory was modest before recent acceleration
- TTM profit growth of 15,381% is distorted by a very low or near-zero profit base, making earnings quality difficult to assess on a normalized basis
- ROE of only 2% in the last year indicates suboptimal returns on equity capital deployed, lagging other real estate investment options
- P/B of 1.2x means limited margin of safety relative to book value for a REIT, where NAV-based valuation is the primary benchmark
- Enterprise value of ~₹63,166 Cr versus market cap of ₹52,242 Cr implies approximately ₹11,000 Cr of net debt on the balance sheet, creating interest rate sensitivity
- Concentration in commercial office segment exposes KRT to structural risks from hybrid/remote work trends reducing office space demand over time
- Listed only in August 2025 with limited public market track record; 52-week high and low data unavailable, making technical and historical performance assessment difficult
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
anthropic claude-opus-4.6 22h ago Positives 2
- Revenue and NOI up 15% YoY Jul 28
Knowledge Realty Trust reported 15% YoY growth in both revenue and NOI for Q1FY27, with occupancy reaching 93% and debt raised at a 7.2% blended rate.
- Record distribution of ₹7,516M declared Jul 28
Total distribution of ₹7,516.31 million approved for Q1FY26 at ₹1.695/unit, comprising dividend, interest, and debt repayment. Record date is July 31, 2026.
Neutral 3
- Q1FY27 earnings call held Jul 29
Knowledge Realty Trust held its Q4FY26/Q1FY27 earnings conference call on July 28, 2026, to discuss results for the quarter ended June 30, 2026.
- Sponsor holds 78.56% stake Jul 20
Sponsor group holds 78.56% in Knowledge Realty Trust for Q1FY26, with public holding at 21.44%.
- First annual unitholder meeting Jul 10
First Annual Meeting of Unitholders conducted on July 10, 2026 via video conferencing with 72 unitholders attending and four resolutions put to vote.
TL;DR: Knowledge Realty Trust is delivering solid operational performance with 15% YoY revenue and NOI growth, high occupancy at 93%, and record unitholder distributions. No material headwinds are visible in recent news flow. Sponsor holding remains dominant at 78.56%, limiting free float. The trend is positive with strong fundamentals, and sustained occupancy gains and distribution growth should support unitholder sentiment going forward.
Quarterly Results
| Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|
| Sales | 671 | 1,179 | 1,197 | 1,243 |
| Expenses | 131 | 218 | 240 | 196 |
| Operating Profit | 541 | 961 | 956 | 1,047 |
| OPM % | 81% | 82% | 80% | 84% |
| Other Income | 31 | 25 | 19 | 25 |
| Interest | 198 | 248 | 236 | 239 |
| Depreciation | 239 | 405 | 407 | 410 |
| PBT | 135 | 333 | 333 | 423 |
| Tax % | 54% | 38% | 68% | 41% |
| Net Profit | 63 | 206 | 107 | 251 |
| EPS in Rs | 0.14 | 0.47 | 0.24 | 0.57 |
Profit & Loss
| Mar 2023 | Mar 2024 | Mar 2025 6m | Mar 2026 | TTM | |
|---|---|---|---|---|---|
| Sales | 2,900 | 3,339 | 0 | 3,047 | 4,290 |
| Expenses | 622 | 761 | 2 | 589 | 784 |
| Operating Profit | 2,278 | 2,578 | -2 | 2,458 | 3,505 |
| OPM % | 79% | 77% | — | 81% | 82% |
| Other Income | 215 | 249 | 0 | 75 | 100 |
| Interest | 1,533 | 1,693 | 0 | 682 | 921 |
| Depreciation | 593 | 588 | 0 | 1,050 | 1,461 |
| PBT | 367 | 547 | -2 | 800 | 1,224 |
| Tax % | 41% | 38% | 0% | 53% | — |
| Net Profit | 218 | 336 | -2 | 375 | 627 |
| EPS in Rs | — | — | — | 0.85 | 1.42 |
| Div. Payout % | 0% | 0% | 0% | 558% | — |
Balance Sheet
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| Equity Capital | — | — | 0 | 44,199 |
| Reserves | — | — | -2 | -1,012 |
| Borrowings | — | — | 0 | 12,363 |
| Other Liabilities | — | — | 21 | 2,693 |
| Total Liabilities | — | — | 19 | 58,243 |
| Fixed Assets | — | — | 0 | 55,878 |
| CWIP | — | — | 0 | 38 |
| Investments | — | — | 0 | 256 |
| Other Assets | — | — | 19 | 2,070 |
| Total Assets | — | — | 19 | 58,243 |
Cash Flow
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| Operating | — | — | 0 | 2,031 |
| Investing | — | — | 0 | 3,958 |
| Financing | — | — | 0 | -5,363 |
| Net Cash Flow | — | — | 0 | 627 |
| Free Cash Flow | — | — | 0 | 1,786 |
| CFO/OP | — | — | 0 | 94 |
Ratios
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| Debtor Days | — | — | — | 25 |
| Cash Conversion Cycle | — | — | — | 25 |
| Working Capital Days | — | — | — | -144 |
| ROCE % | — | — | — | 5% |
Documents
1
Reg 23(5)(i): Disclosure of material issue
8 May - Board meets 13 May 2026 to consider FY26 audited results and 31 Mar distribution; record date 16 May. 8 May - Board meets 13 May 2026 to consider FY26 audited results and 31 Mar distribution; record date 16 May.
2
Reg 23(5)(i): Disclosure of material issue
8 May - Knowledge Realty Trust to host earnings conference call on 13 May 2026 at 4:30 PM IST. 8 May - Knowledge Realty Trust to host earnings conference call on 13 May 2026 at 4:30 PM IST.
3
Reg 18(16): Disclosure of record date for purpose of distribution
8 May - Board meeting on 13 May 2026 to approve audited FY26 results and Q4 distribution; record date 16 May. 8 May - Board meeting on 13 May 2026 to approve audited FY26 results and Q4 distribution; record date 16 May.
4
Reg 23(5)(i): Disclosure of material issue
30 Apr - Neha Wason and Akshay Sharma ceased on 30 Apr 2026; Ashutosh Vaidya appointed from 1 May 2026. 30 Apr - Neha Wason and Akshay Sharma ceased on 30 Apr 2026; Ashutosh Vaidya appointed from 1 May 2026.
5
Reg 23(5)(i): Disclosure of material issue
27 Apr - Borrowing committee approved up to ₹600 crore NCDs and ₹500 crore commercial papers on 27 April 2026. 27 Apr - Borrowing committee approved up to ₹600 crore NCDs and ₹500 crore commercial papers on 27 April 2026.
Frequently Asked Questions about Knowledge Realty Trust
What does Knowledge Realty Trust do?
Knowledge Realty Trust is an office Real Estate Investment Trust (REIT) in India, backed by Blackstone and Sattva Group, with a portfolio of 46.3 msf of operational and under-construction office assets spread across six locations in India, including Hyderabad, Mumbai, and Bengaluru.[1]
Where is Knowledge Realty Trust (KRT) listed?
Knowledge Realty Trust is listed on the Indian stock exchanges. It is listed on NSE: KRT and BSE: 544481. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Knowledge Realty Trust belong to?
Knowledge Realty Trust operates in the Consumer Discretionary sector within the Realty industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Knowledge Realty Trust?
Knowledge Realty Trust has a market capitalisation of approximately ₹52006.64 Cr. Based on this, it is classified as a Large Cap stock.
What is the PE ratio of Knowledge Realty Trust?
The Price-to-Earnings (PE) ratio of Knowledge Realty Trust is 82.62. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Knowledge Realty Trust?
Over the past 52 weeks, Knowledge Realty Trust has traded between a low of ₹103 and a high of ₹129.07. This range helps investors understand the stock's price volatility and recent trading levels.
Does Knowledge Realty Trust pay dividends?
Yes, Knowledge Realty Trust has a dividend yield of 1.45%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of Knowledge Realty Trust?
Knowledge Realty Trust has a Return on Equity (ROE) of 0.87%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Knowledge Realty Trust on Tapetide?
On Tapetide, you can view Knowledge Realty Trust's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.
Company Information
Knowledge Realty Trust is an office Real Estate Investment Trust (REIT) in India, backed by Blackstone and Sattva Group, with a portfolio of 46.3 msf of operational and under-construction office assets spread across six locations in India, including Hyderabad, Mumbai, and Bengaluru.[1]
Listed 2025-08-18
Face Value ₹ 100
Issued Size 4,43,43,99,541