Distribution of Rs. 1.723 per unit declared; Q2 FY27 results published in newspapers
Distribution of Rs. 1.723 per unit declared for the September 2026 quarter.
By ScoutQuest · · 3 min read
- Distribution per unit
- Rs. 1.723 per unit for the September 2026 quarter
- Aggregate distribution / payout ratio
- Rs. 7,640.47 million, payout ratio 100%
- Prior year comparison
- Higher than Rs. 1.556 per unit in the September 2025 quarter
What was published
Knowledge Realty Trust has published its approved unaudited consolidated financial results for the quarter and half year ended 30 September 2026 in the Economic Times and Mint on 04 November 2026. The same advertisements carry the distribution declared by the board of the Manager in its meeting held on 03 November 2026. The results were reviewed by the Audit Committee and then approved by the board of the Manager.
Distribution per unit
- Rs. 1.723 per unit for the quarter ended 30 September 2026
- Rs. 1.695 per unit in the quarter ended 30 June 2026
- Rs. 1.556 per unit in the quarter ended 30 September 2025
- The distribution aggregates to Rs. 7,640.47 million
- Payout ratio is 100% of Net Distributable Cash Flows of Rs. 7,640.54 million
- Units outstanding are shown as 4,434.40, and the payout has been kept at 100% of cash flows in each of the three quarters shown
What the Rs. 1.723 is made of
- Rs. 0.919 per unit as dividend
- Rs. 0.318 per unit as interest
- Rs. 0.484 per unit as repayment of debt
- Rs. 0.002 per unit as other income
Why the break-up matters: every rupee a unitholder receives here is not of the same nature. A little over half the payout is dividend and interest, while Rs. 0.484 per unit is labelled repayment of debt, which is a return of capital rather than income. The update gives the split so a unitholder can see what the payout is made of, not just its size.
How the quarter looked
- EBITDA Rs. 10,842.79 million
- Profit before tax Rs. 4,278.94 million
- Tax line was a credit of Rs. 799.63 million, which turned the profit after tax into Rs. 5,078.57 million
- Earnings per unit Rs. 1.15 for the quarter (not annualised)
The tax credit is explained in the notes: the tax expense for the quarter and half year includes a credit of Rs. 1,857.82 million recognised after the Taxation and Other Laws (Amendment) Act, 2026, notified on 17 August 2026. In simple terms, the profit for the quarter is larger than the operating profit before tax because the tax line added to it rather than subtracted from it.
For the half year ended 30 September 2026, profit is Rs. 7,586.53 million and earnings per unit is Rs. 1.72. Profit for the September 2025 quarter was Rs. 626.42 million, but the notes state that the Trust acquired SPVs during the quarter ended 30 September 2025, so the September 2025 figures are not comparable, and the year ended 31 March 2026 figures do not represent a full period either.
The business in one line: the Trust runs one operating segment, leasing of commercial office buildings and parks, and the advertisement shows a portfolio with 46 MSF of total leasable area.
What a retail unitholder can take away
The headline is a distribution of Rs. 1.723 per unit, up from Rs. 1.556 per unit a year earlier, paid out of 100% of Net Distributable Cash Flows. The quarterly profit is helped materially by a one-time tax credit of Rs. 1,857.82 million, so the operating numbers before tax are the better guide to the leasing business itself. Distributions depend on cash flows actually generated, and the update's own disclaimer notes that the publication is for general information and does not constitute a recommendation on the units.
Also from Knowledge Realty Trust
Four BREP entities pledge ~60.75 crore units, 13.71% of outstanding units
6 Nov 2026
Manager's Borrowing Committee approves allotment of 10,000 commercial papers totalling INR 500,00,00,000
5 Nov 2026
Q2 FY27 earnings call transcript: revenue up 13%, distribution of INR1.72 per unit announced
5 Nov 2026
More numbers
- Distribution Per Unit for quarter ended 30 September 2026Rs. 1.723 per unit
- Aggregate distribution declaredRs. 7,640.47 million
- Distribution Per Unit for quarter ended 30 September 2025Rs. 1.556 per unit
- Distribution payout ratio100%
- EBITDA for the quarter10,842.79
- Profit for the quarter5,078.57
- Tax credit recognised in tax expenseRs. 1,857.82 million
- Total leasable area46 MSF
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