K
Knowledge Realty Trust
KRT NSE
Knowledge Realty Trust
Consumer DiscretionaryNSE: KRT BSE: 544481 Realty
Key Fundamentals
MidcapMarket Cap
₹51,138 Cr
P/E Ratio
81.16
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
Key Insights
Strengths
1- Stock is trading at 1.19 times its book value
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 5d agoAI opinion · based on fundamentals
Risk medium
Knowledge Realty Trust is India's largest office REIT by Gross Asset Value (₹61,999 Cr) and NOI, backed by Blackstone and Sattva Group. It trades at a P/E of 83.2x with a market cap of ₹51,860 Cr, portfolio occupancy at 93%, and has distributed ₹4.74 per unit since listing in August 2025 while carrying borrowings of approximately ₹19,948 Cr.
Bull Case 8
- Portfolio occupancy has risen to 93% as of Q1 FY27, up from 91.4% at listing, indicating sustained tenant demand across 46.3 msf of Grade A office assets
- NOI grew 18% YoY in FY26 to ₹4,048 Cr and continued at 15% growth in Q1 FY27 (₹1,243 Cr), demonstrating consistent income expansion
- Revenue grew 16% YoY in FY26 (from ₹3,930 Cr in FY25) and compounded profit growth on a TTM basis stands at 15,381%, reflecting a sharp turnaround from a low-profit base year
- High-quality tenant base with 74.1% rentals from multinational tenants, 43.6% from GCCs, and 38.2% from Fortune 500 companies, reducing default risk
- Weighted Average Lease Expiry (WALE) of 8.6 years provides long-term revenue visibility and cash flow stability
- Cumulative distributions since listing exceeded IPO projections at ₹2,101.9 Cr, with dividend yield of approximately 5.5% annualized (₹6.46 per unit annual run-rate)
- ICRA AAA (Stable) rating on NCDs signals strong credit profile and comfortable debt service coverage ratio of 3.0-3.5x
- Future development pipeline of 8.0 msf and 1.2 msf under construction provides organic growth runway without acquisition dependency
Bear Case 8
- P/E ratio of 83.2x is elevated, implying limited margin of safety if income growth decelerates from current 15-18% levels
- Total borrowings of approximately ₹19,948 Cr, mostly floating rate, expose the trust to interest rate risk; finance costs were 43.86% of total income in H1 FY25
- Adjusted Debt/Equity was 9.3x in FY25 (down from 13.7x in FY23 but still high), reflecting a heavily leveraged balance sheet
- PAT declined from ₹340 Cr in FY24 to ₹223 Cr in FY25, indicating that high depreciation and finance costs compress bottom-line profits despite NOI growth
- P/B ratio of only 1.19x against book value suggests market is pricing in limited NAV premium, and ROE was just 2% in the last reported year
- 3-year compounded sales CAGR of only 2% suggests revenue growth acceleration is recent and may not sustain at FY26 levels of 16%
- Concentration in office real estate exposes the trust to structural risks from hybrid/remote work trends and potential oversupply in key markets like Hyderabad and Bengaluru
- Dividend yield of 1.45% based on market price (per screener data) versus the 5.5% distribution yield indicates potential discrepancy in how distributions are classified, creating confusion for investors
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
anthropic claude-opus-4.6 17h 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 hitting 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
- Q4FY26 earnings call recording available Jul 29
Knowledge Realty Trust held its Q4FY26 earnings conference call on July 28, 2026, discussing results for the quarter ended June 30, 2026. Audio recording is now available.
- Q1FY27 earnings call scheduled Jul 20
Earnings conference call was scheduled for July 28, 2026, to discuss financial results for the quarter ended June 30, 2026.
- Sponsor holds 78.56% stake Jul 20
Sponsor group holds 78.56% stake in Knowledge Realty Trust for Q1FY26, with public holding at 21.44%.
TL;DR: Knowledge Realty Trust is delivering strong operational performance with 15% YoY growth in revenue and NOI, high occupancy at 93%, and record unitholder distributions. No material headwinds are visible in the current news cycle. The concentrated sponsor holding at 78.56% limits free float but signals promoter confidence. The trend is clearly positive with healthy growth metrics heading into FY27.
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 ₹51137.50 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 81.16. 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 1.47%. 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