MINDSPACE.NSE

Mindspace Business Parks REIT - Unit

Mindspace Business Parks REIT has bought a large office property in Chennai for approximately ₹2,541 crore. This acquisition significantly boosts its presence in South India. The deal includes existing office space and new development expected by March 2027. This move increases Chennai's share in Mindspace REIT's overall portfolio. The transaction was completed under a special arrangement with its sponsor.

Mindspace Business Parks REIT is acquiring a large IT park in Chennai for over Rs 2,500 crore. This deal adds 2.6 million square feet to its portfolio. The acquisition strengthens Mindspace REIT's presence in Chennai, a key growth market. The park features a strong tenant base and ongoing construction. This move marks a significant expansion for the REIT.

Mindspace Business Parks REIT posted strong December-quarter performance, with net operating income rising 29% and revenue up 27%. Leasing momentum stayed robust, occupancy touched 94.5%, distributions increased, debt costs fell, and portfolio expansion continued across key Indian office markets nationwide.

Mindspace Business Parks REIT has acquired three prime commercial properties in Mumbai and Pune from its sponsor K Raheja Corp for Rs 2,916 crore. This strategic acquisition, comprising 8 lakh square feet, will increase the REIT's portfolio to 39 million square feet. The deal strengthens Mindspace REIT's presence in sought-after central business districts, adding high-quality assets with strong cash flows.

Realty firm Mindspace Business Parks REIT acquired three prime commercial properties from its sponsor K Raheja Corp for Rs 2,916 crore as part of its strategy to expand its portfolio. Mindspace REIT said it has acquired Pramaan Properties, which owns 0.45 million square feet of commercial space at Worli in Mumbai and an office building spread across 0.1 million square feet located in Pune.

Ramesh Nair, CEO of Mindspace Business Parks REIT, notes that the South Indian city of Hyderabad has emerged as a dominant global capability center ecosystem in India. Meanwhile, Mumbai, the REIT’s second-largest market, has reinforced its standing as a BFSI stronghold, underpinned by ongoing infrastructure modernization.

Mumbai (Maharashtra) [India], October 7: Mindspace Business Parks REIT (BSE: 543217 | NSE: MINDSPACE) ('Mindspace REIT'), owner and developer of quality Grade A office portfolio located in four key office markets of India, is redefining urban sustainability through a pioneering Stingless Honeybee Farming & Conservation Initiative now taking root across its flagship campuses in Airoli, Navi Mumbai.

Mindspace Business Parks Real Estate Investment Trust (REIT) is aiming for a 50 per cent jump in its net operating income over the next three to four years, a senior official said on Monday.

Mindspace Business Parks REIT is targeting a 50% increase in net operating income in the next three to four years, driven by a Rs 4,200 crore expansion plan to add 8 million sq ft. The company anticipates its NOI to grow by Rs 900-1,000 crore, leveraging India's cost advantages and the growing demand from tech companies and global capability centers.