@Shrish_Vaze
Appreciate bringing out valid point. Find enlcosed Q1FY24 Transcript leasing area guidenace.
In Q2FY24 Transcript, leasing are guideance get revised as under:
So your point is valid that actually after accounting for 0.6 mn sq ft early renewal, guideance shall have been 6.6 mn sq ft. However, this are projections and 0.1 mn sq ft on 6.0 mn st ft account for less than 2% of total renewal area. In projection, which are volatile and uncertain, I would not consider this as singificant negative. In fact, the tenant of pedigree of IBM moved ahead and renewed early for 0.6 mn sq ft area, does give sense of optimism about lease rental in Bengaluru market. One may called this as my ownership bias, to see everything with positive perspective and ignoring adverse news totally.
Thanks once again to bring out valid concern. However, in my personal view, it is business as usual and not majorly negative. My undetstanding may be wrong.
Subscribe To Our Free Newsletter |