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Brokerage firm BoB Capital Markets has initiated coverage on on realty stock Knowledge Realty Trust (KRT), recommending ‘hold'. The brokerage firm has given a target price of ₹122 per share, seeing an upside potential up to 7%. According to the brokerage firm, the realty stock is to trade at a slightly lower-than-peer DPU multiple of 16.4x, compared with the peer average of 16.6x, reflecting its slower pace of DPU growth. The firm highlighted that KRT has the lowest loan-to-value (LTV) ratio among its peers, at 18% as of Q1FY27, compared with the peer average of around 26.2%. It also has the lowest weighted average cost of debt at approximately 7.23%, marginally below the peer average of 7.3%. This lower leverage reduces KRT’s exposure to refinancing risks. KRT is well positioned to generate organic growth through improved asset utilisation, supported by the location and quality of its properties. However, as of Q1FY27, the REIT had around 2.6 million sq ft (msf) of leasable area under construction and access to a right of first offer (ROFO) pipeline of approximately 6.7 msf. These figures remain below peer averages of around 4.0 msf of assets under construction and 8.35 msf of ROFO pipeline, respectively, it added. As of Q1FY27, the listed office REITs—Embassy, Mindspace, Brookfield India REIT, Knowledge Realty Trust (KRT) and Brookfield-backed Bagmane—collectively managed an average leasable area of around 33 million sq ft. Their portfolios had an average committed occupancy of nearly 93%, while average in-place rentals stood at about ₹98.2 per sq ft per month. “In-line with the demand for office spaces, the REITs exhibit regional dominance with EMBASSY being the largest REIT (leasable area) in BLR, BIRET in NCR, MINDSPCE in HYD and MUMBAI. We expect REITs to continue to consolidate and expand leasable area in these five office markets via incremental new supply and acquisitions,” the brokerage firm said. Knowledge Realty Trust has remained largely range-bound across recent periods, with the stock declining 0.12% over the past week and 2.58% in the last one month. Over the six-month period, the stock was almost flat, recording a marginal 0.04% decline, indicating limited price movement during the period. On a year-to-date basis, Knowledge Realty Trust has declined 8.22%, while its one-year performance remains nearly unchanged, with a marginal 0.30% fall. Knowledge Realty Trust shares made their market debut in August 2025, with stock listing at 3% premium on NSE at ₹103. Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions. Vaamanaa covers business and stock market news. Started in 2020, she has been producing news on digital platforms for over 4.5 years now. She writes on markets, commodities, IPOs, and industry. She has worked for news channels like Jagran New Media and Business Insider India. You can reach out to her at vaamanaa.sethi@htdigital.in. Catch all the Business News , Market News , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates. Oops! Looks like you have exceeded the limit to bookmark the image. Remove some to bookmark this image.
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