Mindspace REIT Q1 Net Operating Income Up 28% to Rs 788cr

New Delhi: Realty firm Mindspace Business Parks REIT on Wednesday reported a 28 per cent increase in its net operating income (NOI) to Rs 788 crore for the quarter ended June and announced Rs 442 crore distribution to unitholders for the first quarter of this fiscal.

The company leased 0.9 million sq ft commercial space in the April-June period of 2026-27 fiscal.

“We delivered year on year NOI growth of 27.8 per cent and a distribution of INR 6.67 per unit, up 15.2% over the prior year. These results reflect the strength of our portfolio, the quality of our assets, and disciplined execution,” said Ramesh Nair, MD and CEO, Mindspace REIT.

With most of the company’s under-construction office assets due for delivery over the next twelve months already pre-committed, the demand for its campuses remains strong, he said.

“Building on this momentum, we have launched two new office projects and two new hotels to further enhance our integrated campus ecosystems and elevate the occupier experience,” Nair said.

Mindspace Business Parks REIT, sponsored by K Raheja Corp group, listed on the Indian bourses in August 2020.

It owns office assets in the Mumbai Region, Pune, Hyderabad, and Chennai. The portfolio has a total leasable area of 46.2 million sq ft comprising 36 million sq ft of completed area, 6.6 million sq ft of area under construction and 3.5 million sq ft of future development.

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