Mindspace Business Parks REIT consolidated net profit rises 0.60% in the June 2024 quarter

Mindspace Business Parks REIT on Tuesday reported a 9 per cent increase in net operating income to Rs 496 crore in the first quarter of this financial year and declared distribution of nearly Rs 300 crore to unitholders for the latest April-June period.

Mindspace REIT Q1FY25 results: Net operating income up 9 % to Rs 496 cr

Mindspace Business Parks REIT, backed by K Raheja Corp, is planning to invest over Rs 3,500 crore in developing new office properties across its existing and new projects over the next three to four years. This includes a significant Rs 900 crore investment to develop a new office building of 1.5 million sq ft at its operational information technology park, Mindspace Airoli East, in Navi Mumbai.

Mindspace Business Parks REIT to invest Rs 3,500 cr to develop new office properties

Real Estate Stocks: On the bourses, shares of Prestige Estates, Oberoi Realty, Brigade Enterprises, DLF, Embassy REIT, and Mindspace Business Parks REIT, have surged in the range of 11 to 214 per cent

Realty check: Avoid buying commercial real estate stocks, caution analysts

Global development institution International Finance Corporation (IFC), a member of the World Bank Group, has invested over Rs 650 crore in K Raheja Corp-backed Mindspace Business Parks REIT through an issue of sustainability-linked bonds.

World Bank member IFC invests Rs 650 cr in Mindspace REIT’s sustainability-linked bonds

Mindspace Business Parks REIT raises Rs 650 crore from the World Bank’s International Finance Corporation

Mindspace becomes first Indian REIT to issue sustainability-linked bonds

Stable revenue and net operating income traction; leasing uptick.

Mindspace REIT Q4 Review - Leasing Momentum Picks Up, To Flow Into Distributions From FY25E: ICICI Securities

The Union Budget 2024 focuses on ecosystem-led growth, infrastructure development, and fiscal management for India’s economic growth.

Viksit budget for viksit bharat- Ramesh Nair, CEO, Mindspace Business Parks REIT

Mindspace Business Parks REIT, the owner and developer of Grade A office portfolio, has announced the appointment of Ramesh Nair as Chief Executive Officer with effect from September 1, 2023. Mr. Nair had previously worked with Colliers and JLL India.

Mindspace Business Parks REIT appoints Ramesh Nair as new CEO

Mindspace Business Parks REIT, sponsored by K Raheja Corp group, listed on the Indian bourses in August 2020. The REIT owns office portfolios located in four key office markets of India including Mumbai Region, Pune, Hyderabad, and Chennai.

K Raheja Corp-backed Mindspace Business Parks REIT rejigs top management

Mumbai’s Mindspace Business Parks REIT saw a 13.8% rise in net operating income to Rs 457 crore in Q2, while revenue rose 14% to Rs 560.4 crore. 400,000 sq ft leased out at 10.1% spread, in-place rents 5.9% higher. 2.5 msf pipeline, 1.6 msf re-development projects. Rs 284.6 crore payout at Rs 4.8/un…

Mindspace REIT’s NOI up 13.8% YoY on strong leasing momentum

Hasn't fared 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

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