Tag: Ramesh Nair

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 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 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…