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Mindspace Business Parks REIT News

Mindspace REIT Q4 results: Net operating income up 9% to 477 crore

Mindspace Business Parks REIT on Tuesday reported 9 per cent growth in net operating income (NOI) to Rs 476.8 crore and declared distribution of Rs 282.9 crore to unitholders for March quarter FY24. According to a regulatory filing, the company's NOI grew 12 per cent to Rs 1,895.9 crore in 2023-24. Cumulatively, it has declared distribution of Rs 1,136.2 crore to unitholders for last fiscal year. Ramesh Nair, Chief Executive Officer, K Raheja Corp Investment Managers Pvt Ltd, Manager to Mindspace REIT said, We had a record quarter, leasing 2 million square feet, making this our top-performing quarter since going public." "Our committed occupancy now stands at 90.6 per cent. With ongoing expansion projects totalling 4.4 million square feet, future development of 2.5 million square feet and potential leasing of 2.4 million square feet vacant area, we are positioned for significant NOI growth." Mindpsace REIT said its committed occupancy stood at 90.6 per cent. Cumulative leasing for

Mindspace REIT Q4 results: Net operating income up 9% to 477 crore
Updated On : 30 Apr 2024 | 7:48 PM IST

Mindspace REIT Q3 results: Profit up 16% at Rs 147 cr, income at Rs 610 cr

Mindspace Business Parks REIT on Monday reported a 16 per cent increase in its consolidated net profit to Rs 146.8 crore for the latest December quarter and announced distribution of Rs 285 crore to unitholders, mainly in the form of dividends. Its net profit stood at Rs 126.5 crore in the year-ago period. The total income rose to Rs 610.8 crore in the October-December period of this fiscal from Rs 560.4 crore a year ago, according to a regulatory filing. The company also announced a distribution of Rs 4.80 per unit aggregating to Rs 284.6 crore, which comprises a dividend of Rs 4.29 per unit totalling Rs 254.4 crore, interest of Rs 0.50 per unit aggregating to Rs 29.7 crore and other income of Rs 0.01 per unit, aggregating to Rs 60 lakh. The Board of Directors of K Raheja Corp Investment Managers Pvt Ltd, manager to Mindspace Business Parks REIT, approved the proposed acquisition and term sheet to be entered in relation to the acquisition of certain units measuring leasable area o

Mindspace REIT Q3 results: Profit up 16% at Rs 147 cr, income at Rs 610 cr
Updated On : 29 Jan 2024 | 6:27 PM IST