Mindspace Office Parks Real Estate Investment Trust (Reit) Reports Strong Q4 FY25 Performance
Mindspace Office Parks Real Estate Investment Trust (Reit) reported a net operating income (NOI) of Rs 540 crore for the fourth quarter of financial year 2025 (Q4FY25), marking a 13.2% increase from Rs 522 crore in the previous year. This growth is attributed to sustained demand for grade-A assets.
The Reit’s revenue from operations also grew by 7.64% year-on-year (YoY) to Rs 610 crore. Quarterly, the revenue grew by 1.7%.
Chief Executive Officer and Managing Director, Ramesh Nair, stated, "FY25 has been a record-breaking year for us, our best ever since listing. We achieved our highest-ever annual gross leasing of 7.6 msf and delivered a strong quarterly distribution of Rs 392 crore, up 39% YoY, the highest growth since listing. We remain optimistic about the long-term outlook for our portfolio, underpinned by the quality of our assets, trusted tenant relationships, and proactive leasing efforts. Moreover, our focus on strategic acquisitions and steady development progress positions us well for sustained long-term growth."
Mindspace recorded a gross leasing of 2.8 million square feet (msf) in Q4FY25, compared to 2 msf in Q4FY24. The occupancy across its assets stood at 93%.
In FY25, the companys NOI grew by 8.9% YoY to Rs 2,062 crore, while gross leasing increased by 111.11% YoY to 7.6 msf.
The Reit also declared a distribution of Rs 392 crore for Q3FY25, up 38.7% YoY. The Reit cumulatively distributed approximately Rs 1,312 crore in FY25.
According to the Securities and Exchange Board of India (Sebi), Reits are mandated to distribute at least 90% of their taxable income.
Its net asset value grew by 10% from Rs 392.6 per unit on September 30, 2024, to Rs 431.7 per unit on March 31, 2025, driven by rising rentals across its micro markets, accretion from acquisitions, and completion of pre-committed buildings.
Reference : https://www.business-standard.com/companies/quarterly-results/mindspace-reit-q4-noi-grows-13-amid-sustained-demand-for-grade-a-assets-125043001415_1.html
