NOI is expected to grow 13% year-on-year, but DPU growth would be slower at 10%, largely due to higher interest cost. Embassy is guiding for a second consecutive year of double-digit growth. NOI and DPU grew 15% and 10% in FY26, respectively, in line with guidance. ICICI Securities says Embassy’s FY27 guidance is realistic and achievable. It expects DPU to rise to ₹27.6 per unit in FY27 and to ₹30.8 per unit in FY28 from ₹25.3 per unit in FY26.
