ICICI Securities rates Knowledge Realty Trust 'Buy' with ₹130 target
Business
ICICI Securities just gave Knowledge Realty Trust (KRT) a "Buy" rating, with a target price of ₹130, a 16% jump from where it sits now at ₹112.
They're optimistic because KRT's NOI is expected to grow at a 9% CAGR from FY26-29E, mainly as more offices fill up and rents go up.
KRT 46.5 million sqft 93% occupancy
KRT owns 46.5 million square feet of office space across top cities like Hyderabad, Mumbai, and Bengaluru, with most properties already completed and nearly full, with 93% committed occupancy.
ICICI Securities values KRT at ₹130 per unit for FY2027 and expects payouts to investors (distribution yields) to climb from 6.2% in FY2027 to 7.3% by FY2029, thanks to new projects and rising rents.