From the next financial year starting from April 1, all distributions by REITs and InvITs representing repayment of debt are taxable as “other income” in the hands of the unit holders. Mindspace Business Parks REIT, on Monday, approved distribution of Rs 284.6 crore for the quarter ended December. D…

REITs, InvITs may need to review income distribution modes as Budget widens tax bracket

This is despite a 23.4% surge in total revenue to Rs 544 cr in Q3FY23, from Rs 441 crore a year ago

Mindspace REIT Q3 net dips 13% to Rs 127 cr on higher interest cost

Mindspace Business Parks REIT consolidated net profit declines 14.90% in the December 2022 quarter

The company said in a regulatory filing that its gross leasing stood at 1.3 million square feet in the third quarter of FY23, taking cumulative leasing during April-December to 3.5 million square feet.

Mindspace REIT Q3 net operating income rises 22 pc to Rs 455 cr; to distribute Rs 285 cr to unitholders

Net operating income (NOI) for the quarter remained robust at Rs 455.1 crore, up 16.8% from a year ago and 4.6% sequentially excluding one-time compensation Rs 18.6 crore received by the REIT from a tenant for termination of letter of intent (LOI).

Mindspace Business Parks REIT leases 1.3 million sq ft office space in Q3

The company also raised Rs 100 crore through the issuance of commercial papers

Mindspace REIT net operating income rises 16.8 % YoY on strong leasing

Mindspace Business Parks REIT announced that is has issued commercial papers of Rs 100 crore for a maturity of three months at an interest rate of 7.20% per annum.

Mindspace REIT raises Rs 100-cr via commercial papers

Buzzing stocks: Mindspace Business REIT, GAIL India, Bharti Airtel, Rajapalayam Mills, Shyam Metalics, Uno Minda, VIP Clothing

Stocks that will see action on December 21, 2022

The funds will be utilised towards the working capital requirements of Mindspace REIT’s asset SPVs

Mindspace Business Parks raises Rs 100 cr debt for working capital needs

Chief Minister scheduled to lay foundation stone for the ₹6,250-crore project on December 9; airport metro express to connect Mindspace Junction/Raidurg and RGIA across a distance of 31 km

Airport Express Metro to be elevated with 2.5-km underground stretch near RGIA

As per the study, Mindspace REIT delivered the highest absolute returns of 8.11% year to date till October 31, 2022. For the same period, Brookfield India REIT was the second best performing listed REIT with 7.30% absolute returns followed by Embassy REIT with 1.40% during the same period.

Leasable area under REIT expected to grow by over 10% in the coming quarters: Report

Hasn't faired well - amongst the low performers

Performance

Seems to be overvalued vs the market average

Valuation

Lagging behind the market in financials growth

Growth

Showing good signs of profitability & efficiency

Profitability

Fundamentals

Good time to consider, stock is not in the overbought zone

Technicals

Entry point

The stock has a moderate number of red flags

Promoter pledged holding

Unsolicited messages

Default probability

Red flags

Mindspace Business Parks REIT is an India-based real estate investment trust (REIT). The Company owns office portfolio in India. 

Mindspace Business Parks REIT