Tag: Mindspace Business Parks REIT

CommercialLatest Stories

Mindspace REIT Buys 51% of ITPC – Radial Road for ₹3,000 Cr

NEW DELHI: Mindspace Business Parks REIT (Mindspace REIT) has secured a 51% ownership stake in the 2.6 million sq ft International Tech Park Chennai, Radial Road (ITPC – Radial Road) from AIGP2 Chennai 1, a subsidiary of CapitaLand India Growth Fund 2 (CIGF2), for ₹3,000 crore. The remaining 49% stake will be held by 360 ONE Asset’s real assets funds. This acquisition is expected to contribute ₹241 crore to net operating income (NOI) on a proforma basis (51% attributable to Mindspace REIT), while increasing the loan-to-value (LTV) ratio from 28.0% to 30.3%. Regarding the acquisition, Ramesh Nair, MD and CEO…

CommercialLatest Stories

Mindspace REIT Buys 2.6M Sq Ft Chennai Office for ₹2,541 Cr

NEW DELHI: Mindspace Business Parks REIT (Mindspace REIT) has successfully acquired a 2.6 million sq ft grade-A office property in Chennai for approximately ₹2,541 crore, enhancing its foothold in the southern market. The acquisition involves obtaining 100% equity in the entities that own Commerzone Pallikaranai, situated on the Pallavaram-Thoraipakkam Road (PTR) corridor, a significant office micro-market in Chennai. This transaction has received board approval, along with a planned preferential unit issuance of up to ₹675 crore, pending regulatory and unitholder approvals. The asset features around 1.4 million sq ft of finished office space and 1.2 million sq ft under development,…

CommercialLatest Stories

5 REITs distribute ₹2,450 crore to 3.8 lakh unitholders in Q3 FY26

NEW DELHI: In the third quarter of FY26, India’s five listed Real Estate Investment Trusts (REITs) distributed over ₹2,450 crore to more than 3.8 lakh unitholders. The listed REITs—Brookfield India Real Estate Trust, Embassy Office Parks REIT, Knowledge Realty Trust, Mindspace Business Parks REIT, and Nexus Select Trust—collectively manage a portfolio exceeding 185 million sq ft of grade-A office and retail real estate nationwide. Since their respective launches, these REITs have cumulatively disbursed over ₹29,100 crore to unitholders, demonstrating the growing prominence of this investment vehicle in India’s capital markets. As of Q3 FY26, the total gross assets under management…

CommercialLatest Stories

Mindspace REIT Q3 FY26 NOI Rises 28.7%

NEW DELHI: Mindspace Business Parks REIT has reported a 28.7% year-on-year increase in net operating income (NOI), reaching ₹6,714 million in Q3 FY26. The board of directors at K Raheja Corp Investment Managers, overseeing Mindspace REIT, announced a distribution of ₹3,780 million for Q3 FY26. The distribution per unit (DPU) is ₹5.83, reflecting a year-on-year growth of 9.6% and a 12.5% rise in DPU for the first nine months of FY26. Ramesh Nair, CEO and MD, stated, “We achieved gross leasing of 1.1 million sq ft, with committed occupancy increasing sequentially to 94.5%. This operational success has led to strong…

CommercialLatest Stories

Mindspace REIT Buys Mumbai & Pune Assets for ₹29.2B

NEW DELHI: Mindspace Business Parks REIT (Mindspace REIT) has secured three key central business district properties for ₹29.2 billion from K Raheja Corp. The board of K Raheja Corp Investment Managers, responsible for managing Mindspace REIT, approved the acquisition and a preferential issue of units totaling up to ₹18.2 billion. The company also announced the purchase of Pramaan Properties, which includes 0.45 million sq ft at Ascent – Worli in Mumbai, alongside an office building of 0.1 million sq ft located in Kalyani Nagar, Pune. Additionally, Sundew Real Estate, which owns 0.2 million sq ft at The Square Avenue 98…

CommercialLatest Stories

Mindspace REIT to invest ₹4,185 crore in expansion

NEW DELHI: Mindspace Business Parks REIT plans to invest over ₹4,185 crore in capital expenditures for its ongoing projects from FY26 to FY28, targeting double-digit growth in net operating income (NOI) and net distributable cash flow (NDCF). The company, boasting an under-construction portfolio of 15 million sq ft and completed assets totaling 31 million sq ft, aims to bolster its presence in key cities—Hyderabad, Mumbai, Pune, and Chennai—while also branching out into data centres, hospitality, and mixed-use assets to diversify its revenue streams, as per Ramesh Nair, CEO & MD, in an exclusive interview. Below are edited excerpts: How has…

IndustryLatest Stories

Mindspace REIT’s NOI Up 26% to ₹634 Crore in Q2 FY26

NEW DELHI: Mindspace Business Parks REIT announced a 26% rise in its net operating income (NOI), reporting Rs 634 crore for the second quarter of the fiscal year, up from Rs 504 crore in the same period last year. The company will distribute Rs 355 crore to unitholders for this quarter, which marks a 16.3% increase from Rs 305 crore last year, according to a regulatory filing. Ramesh Nair, CEO and MD of Mindspace REIT, stated, “This quarter, Mindspace REIT maintained its strong momentum with leasing of 0.8 million sq ft and a re-leasing spread exceeding 28%. This reflects robust…

IndustryLatest Stories

Mindspace REIT Plans 7-8 Million Sq Ft Expansion in 4 Years

NEW DELHI: Mindspace Business Parks REIT (Mindspace REIT) has shown remarkable operational performance with an occupancy rate nearing 94% as of the last quarter report. The REIT’s existing portfolio encompasses 30 million sq ft of completed space, alongside an additional 7-8 million sq ft currently under construction, expected to be finalized in the next two to four years, raising the total planned portfolio to around 38 million sq ft. The company maintains a steady loan-to-value (LTV) ratio between 25% and 26%, feeling secure up to 35% before considering capital expansion. Additionally, it has consistently secured a solid 20% re-leasing spread…

IndustryLatest Stories

Mindspace REIT Secures ₹550 Crore from IFC

NEW DELHI: Mindspace Business Parks REIT (Mindspace REIT) has secured an additional ₹550 crore through sustainability-linked bonds (SLBs) from the International Finance Corporation (IFC), the private sector arm of the World Bank Group. This recent issuance follows the initial ₹650 crore SLB issued in June 2024, bringing the total to ₹1,200 crore. Shardul Amarchand Mangaldas & Co acted as legal counsel for this transaction, while Bureau Veritas Industrial Services (India) provided the second-party opinion (SPO). The SLB is linked directly to measurable ESG performance targets, promoting accountability and impact. Published On Aug 20, 2025 at 05:30 PM IST Join a…

IndustryLatest Stories

Indian REITs Surpass ₹1 Lakh Crore Market Capitalization

NEW DELHI: As of July 30, 2025, the total market capitalization of all four publicly listed Real Estate Investment Trusts (REITs) in India has surpassed ₹1 lakh crore. The four REITs are Brookfield India Real Estate Trust, Embassy Office Parks REIT, Mindspace Business Parks REIT, and Nexus Select Trust. Alok Aggarwal, MD & CEO of Brookfield India Real Estate Trust and chairman of the Indian REITs Association, stated, “This fiscal year has started strongly, fueled by robust leasing activity, high occupancy rates, and continued growth in sector distributions.” According to Q4 FY25 data, India’s REIT market oversees gross assets under…