Mindspace REIT Q1 FY26 NOI Rises 24.2%
NEW DELHI: Mindspace Business Parks REIT (Mindspace REIT) reported a year-on-year increase of 24.2% in net operating income (NOI) for Q1 FY26, amounting to ₹616 crore for the quarter ending June 30, 2025. The loan-to-value (LTV) ratio was about 25%. The company issued commercial papers worth ₹800 crore at an effective monthly rate of 6.46% and raised ₹600 crore through a five-year non-convertible debenture (NCD) at an effective monthly rate of 7.15%. Additionally, the cost of debt decreased by 29 basis points on a sequential basis, reaching 7.84% per annum. The board of K Raheja Corp Investment Managers, which manages…