Mindspace REIT net operating income up 10% in December qtr

Mindspace REIT leased 450,000 sq ft of office space in Q4, with a cumulative leasing of 1.6 million sq ft for the financial year. The REIT experienced strong expansionary demand, with over 80% of new and pre-leasing by existing occupiers. Net operating income grew 10.4% to ₹473 crore, reaching ₹1,419 crore for the nine months. The REIT plans to deliver a 4.4 million sq ft development pipeline and has received board approval to divest a land parcel.

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