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Knowledge Realty Trust

KRT NSE
₹110.86 +0.39 (+0.35%)
P/E
78.07
View as Markdown
MCP
Close 4 Nov 2026 ₹110.86 −5.84 −5.00% 1Y
Start ₹116.70

Key Fundamentals

Midcap

Price-based figures as of · EPS basis: Consolidated · TTM

ROCE
5.22%
Debt to Equity
0.29
EPS (TTM)
₹1.42
Book Value
₹98.21
Market Cap
—
P/E (TTM)
78.07
P/B
1.13
ROE
1.67%
Dividend Yield
3.10%
EBITDA
₹2,533 Cr
52W High
₹129.07
52W Low
₹107.80
Day Range
₹110.26 – ₹111.10
Volume
8,74,800

Peer Comparison

Consumer Discretionary › Realty › Real Estate Investment Trusts (REITs)

Knowledge Realty Trust peer comparison
Knowledge Realty Trust (this company)
₹110.8678.07₹48,898 Cr1.133.10%1.67%5.22%₹4,290 Cr₹627 Cr
Bagmane Prime Office REIT
₹105.930.25₹36,003 Cr1.012.89%−0.02%0.00%₹1,860 Cr₹712 Cr
Brookfield India Real Estate Trust
₹319.7844.11₹26,239 Cr1.093.59%2.75%5.36%₹3,301 Cr₹625 Cr
Nexus Select Trust
₹159.9555.16₹24,126 Cr1.831.53%2.69%5.83%₹2,635 Cr₹440 Cr
Property Share Investment Trust- Propshare Titania
₹9,99,999.0063.38₹446 Cr1.012.40%−2.51%5.09%₹47 Cr₹7 Cr
Median 5 companies₹159.9555.16₹26,239 Cr1.092.89%1.67%5.22%₹2,635 Cr₹625 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company. 2 companies are not shown because they are not listed on an exchange we cover.

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

Overall score

54 Average

Data confidence 87/100

Category scores

Quality
72
Strong
Returns, margins, earnings quality 24% weight
Valuation
65
Good
Cheap vs sector & own history 26% weight
Financial Health
28
Poor
Solvency, leverage, coverage 10% weight
Momentum
26
Poor
Trend strength, vol-adjusted 13% weight
Ownership
54
Average
FII/DII/promoter flows 26% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

Strengths

1
  • Stock is trading at 1.16 times its book value

No weaknesses listed

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallStrong Bearish1153
OscillatorsBearish351
Moving AveragesStrong Bearish802

Key readings

RSI (14)
44.71
Neutral
MACD (12,26,9)
−0.83
Bearish
SMA (50)
112.49
Bearish
SMA (200)
116.63
Bearish

As of

Growth Rate

From the financial statements below. 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025.

Revenue

Revenue growth by window
3Y+1.66%
1YIrregular period

Net profit

Net profit growth by window
3Y+19.82%
1YIrregular period

Operating cash flow

Operating cash flow growth by window
3Y—
1YIrregular period

3Y: The statements do not go back far enough for this window.

Operating margin· change in pp

Operating margin growth by window
3Y+2.12 pp
1YIrregular period

Trailing twelve months: Fewer than eight quarters are reported, so there is no trailing-twelve-month figure.

Revenue by year

Revenue by year, ₹ crore
Mar 2023₹2,900 Cr
Mar 2024₹3,339 Cr
Mar 2026₹3,047 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2023₹218 Cr
Mar 2024₹336 Cr
Mar 2026₹375 Cr

AI Analysis — Bull vs Bear

Figures as of 30 Oct 2026
AI opinion · based on fundamentals
Risk high

Knowledge Realty Trust trades at ₹109.3 with a market cap of ₹48,685 crore as of 2026-10-30. The stock carries a TTM P/E of 76.97 against a modest ROE of 0.87% and ROCE of 2.63%, while its price-to-book of 1.11 and debt-to-equity of 0.29 reflect a conservatively leveraged balance sheet trading close to book value.

Bull Case 6
  • Stock trades at just 1.11 times book value, suggesting limited premium over net asset value for a real estate trust of this scale
  • Low debt-to-equity ratio of 0.29 indicates a conservatively leveraged balance sheet with substantial headroom for future borrowing if growth opportunities arise
  • Dividend yield of 1.55% provides a recurring income stream to unitholders, meaningful for a trust structure
  • Compounded profit growth of 18% over 3 years demonstrates a sustained earnings expansion trajectory
  • TTM profit growth of 15,381% signals a dramatic earnings recovery or step-change in profitability in the most recent period
  • Compounded sales growth of 2% over 3 years, while modest, reflects revenue stability without sharp declines even through business cycles
Bear Case 8
  • TTM P/E of 76.97 is significantly elevated, implying the market is pricing in aggressive future growth that may not materialise
  • ROE of just 0.87% is extremely low, indicating very poor returns on shareholders' equity and weak capital efficiency
  • ROCE of 2.63% is well below typical cost-of-capital benchmarks in India (10-12%), suggesting the business is not generating adequate returns on total capital employed
  • TTM EPS of only ₹1.42 against a share price of ₹109.3 highlights thin current earnings relative to market valuation
  • 1-year stock price CAGR of -4% shows the stock has underperformed, with negative returns over the past year
  • Compounded sales growth of just 2% over 3 years points to near-stagnant top-line expansion, raising questions about organic growth prospects
  • Last year ROE of 2% remains well below industry norms, and the longer-term ROE figure of 0.87% suggests the improvement may not be durable
  • The massive TTM profit growth of 15,381% likely reflects a low or near-zero base in the prior period rather than sustainable earnings power, making it unreliable as a forward indicator

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

9h ago

TL;DR: Knowledge Realty Trust delivered a strong Q2 FY27 with 15% NOI growth, 90% margins, record distributions, and healthy 24% rental spreads across its 46.5 million sq ft portfolio. The key risk is concentration in GCC-driven demand as IT services leasing structurally declines.

Headwinds 1
  • IT services demand shrinking Nov 03

    Demand from IT services firms, once the largest office occupiers, has structurally declined. GCCs now account for 83-85% of leasing, creating concentration risk in a single demand segment.

Positives 6
  • Strong Q2 NOI up 15% Nov 03

    Q2 FY27 net operating income grew 15% YoY to ₹1,140.4 crore with revenue up 13% to ₹1,272.5 crore. NOI margin expanded to 90% from 88% a year ago.

  • Record DPU up 11% YoY Nov 03

    Declared record distributions of ₹764 crore for Q2 FY27 with DPU of ₹1.72, up 11% YoY. Around 82% of the distribution is tax-efficient for unitholders.

  • Robust leasing and rent spreads Nov 03

    Gross leasing of 0.8 million sq ft in Q2 with 24% average rental spread. Cumulative H1 leasing reached 2.2 million sq ft with in-place rents up 7% YoY to ₹101/sq ft/month.

Neutral 2
  • Sponsor holding at 53.52% Oct 15

    Sponsor group holds 53.52% of units in Q2 FY27 with public holding at 46.48%. Mutual funds own 12.07% of total units.

  • REIT investor base expanding Nov 03

    Indian REIT investor base has grown from around 4,000 in 2019 to approximately five lakh currently. Combined REIT gross AUM exceeded ₹3.17 trillion as of June end.

Quarterly Results

₹ Cr
KRT quarterly results, ₹ crore
Particulars Sep 2025Dec 2025Mar 2026Jun 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 (₹)
0.14
0.47
0.24
0.57

Profit & Loss

₹ Cr
KRT profit and loss, annual, ₹ crore
Particulars Mar 2023Mar 2024Mar 2025 6mMar 2026TTM
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 (₹)
—
—
—
0.85
1.42
Div. Payout %
0%
0%
0%
558%
—

Balance Sheet

₹ Cr
KRT balance sheet, annual, ₹ crore
Particulars Mar 2023Mar 2024Mar 2025Mar 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

₹ Cr
KRT cash flow, annual, ₹ crore
Particulars Mar 2023Mar 2024Mar 2025Mar 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

KRT financial ratios, annual
Particulars Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
—
—
—
25
Cash Conversion Cycle
—
—
—
25
Working Capital Days
—
—
—
−144
ROCE %
—
—
—
5%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view Knowledge Realty Trust insights

31 extracted metrics across FY23–FY27.

Shareholding Pattern

As of Sep 2026

  • Promoters 53.52%
  • DIIs 18.28%
  • Others 16.12%
  • Public 12.08%

0.03% of promoter holding pledged as of 14 Oct 2026

Change vs previous quarter

Documents

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.
Where is Knowledge Realty Trust (KRT) listed?
Knowledge Realty Trust trades as KRT on the NSE and under code 544481 on the BSE.
Which sector does Knowledge Realty Trust belong to?
Knowledge Realty Trust is classified under the Consumer Discretionary sector, in the Realty industry.
What is the PE ratio of Knowledge Realty Trust?
Knowledge Realty Trust trades at a PE ratio of 78.07 as of 4 Nov 2026, on earnings per share of ₹1.42, against a book value of ₹98.21 per share.
What is the 52-week high and low of Knowledge Realty Trust?
Over the last 52 weeks Knowledge Realty Trust has traded between ₹107.8 and ₹129.07 as of 4 Nov 2026.
Does Knowledge Realty Trust pay dividends?
Knowledge Realty Trust has a dividend yield of 3.10%.
What is the Return on Equity (ROE) of Knowledge Realty Trust?
Knowledge Realty Trust reported a return on equity of 1.67%. Its debt-to-equity ratio is 0.29.

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.

Listed 18 Aug 2025
Face Value ₹100

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