Tag: Mindspace Business Parks REIT

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Five REITs distribute ₹2,566 crore to unitholders in Q4 FY26

NEW DELHI: For the quarter ending March 31, 2026, India’s five publicly listed real estate investment trusts (REITs) have dispersed over ₹2,566 crore to more than 4.25 lakh unitholders, as reported by the Indian REITs Association. Throughout the entire financial year 2025-26, the total distributions by these five REITs surpassed ₹8,900 crore. The five listed REITs include Brookfield India Real Estate Trust, Embassy Office Parks REIT, Knowledge Realty Trust, Mindspace Business Parks REIT, and Nexus Select Trust. As of Q4 FY26, the gross asset value in the Indian REIT market stood at over ₹2.72 lakh crore, while the total market…

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Mindspace REIT Secures ₹500 Crore with 10-Year NCDs at 7.63%

NEW DELHI: Mindspace Business Parks REIT (Mindspace REIT) has successfully raised ₹500 crore via a 10-year non-convertible debenture (NCD), according to a company announcement. The issuance was fully subscribed by a domestic life insurance company and features a fixed coupon of 7.63% per annum, with payments made quarterly. CRISIL and ICRA have rated the debentures as AAA/Stable. The funds raised will be allocated for refinancing existing debts, as the office REIT aims to extend its debt maturity profile and enhance the proportion of fixed-rate borrowings. Including this transaction, the company (along with its special purpose vehicles) has raised a total…

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Mindspace REIT’s Net Operating Income Rises 29.2% in FY26

NEW DELHI: Mindspace Business Parks REIT (Mindspace REIT) has posted a net operating income (NOI) increase of 29.2% for the financial year 2025-26. The executive committee of K Raheja Corp Investment Managers, which manages Mindspace REIT, has approved fundraising through the issuance of non-convertible debt securities and/or commercial papers. The total amount will not exceed ₹15,700 crore (net of repayments), including any outstanding debts, and will be issued in one or more tranches. It is further stipulated that the aggregate consolidated borrowings and deferred payments of Mindspace REIT and its HoldCo/Asset SPVs, after accounting for cash and cash equivalents, must…

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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…

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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,…

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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…

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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…

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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…

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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…

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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…