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Mindspace Business Parks REIT has leased 4.5 lakh sq ft of office spaces in Q4, bringing its cumulative leasing for the year to 1.6 million sq ft. The REIT has seen strong demand with over 80% of new and pre-leasing by existing occupiers. It re-leased 4 lakh sq ft of office space at a 17.1% higher rent during the quarter. The net operating income grew 10.4% to Rs 473 crore, with a declared distribution of Rs 285 crore. ....
Mindspace REIT s net operating income (NOI) grew by 10.4% year-on-year in Q3 FY24 to Rs 473 crore. It recorded NOI of Rs 1,419 crore for the nine month period in FY24, registering a 12.8% growth year-on-year. ....
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. ....