Co-working operator EFC arm gets SEBI registration to launch SM-REIT

New Delhi, Oct 30 (PTI) Co-working firm EFC (I) Ltd on Wednesday said its arm EFC REIT Pvt Ltd has obtained SEBI registration for launch of Small & Medium Real Estate Investment Trust (SM-REIT) public issue.
     According to a statement, the company through its wholly-owned step-down subsidiary EFC REIT has obtained SEBI registration for EMBERSTONE SM REIT as an SM REIT.
     On October 29, 2024, SEBI granted registration to EMBERSTONE SM REIT.
     Accordingly, EMBERSTONE 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 EMBERSTONE SM REIT, EFC REIT Pvt Ltd 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 significantly 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's profit after tax stood at Rs 36.56 crore in Q2 FY25 as against Rs 11.07 crore in the corresponding quarter of the previous fiscal. Net consolidated total income stood at Rs 171.08 crore in Q2, a growth of 72.93 per cent as compared to a year ago.

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