EFC secures SM REIT approval to raise up to Rs 500 crore
SM REIT as a Small & Medium Real Estate Investment Trust.
The SM REIT will be eligible to make an initial offer for units of its first scheme for an amount of up to Rs 500 crore. As an investment manager of SM REIT, EFC REIT Private Limited will oversee investments raised through the initial offer and manage the acquisition and operation of commercial real estate assets in terms of the REIT Regulations.
This development will expand the EFC group’s Assets Under Management (AUM) and its managed office space portfolio across the country, positioning the company for accelerated growth.
EFC has reported a growth of 230.26# in its net consolidated profit during the quarter ended September 30, 2024. Its profit after tax stood at Rs 36.56 crore in Q2 FY25 as against Rs 11.07 crore it registered in the corresponding quarter of the previous fiscal.
The company's net consolidated total income stood at Rs 171.08 crore in Q2 FY25, a growth of 72.93 per cent from Rs 98.93 crore it recorded in the similar quarter last year.
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