BSEGeneral2 Nov 2026 · 2 Nov 2026, 05:56 pm
Mindspace Business Parks REIT has informed the Exchange regarding Disclosure of material issue
Mindspace Business Parks REIT · 543217
✦ AI Summary▲ PositiveResults
Mindspace Business Parks REIT has announced its Q2 FY27 results, reporting a 31.9% YoY growth in Net Operating Income (NOI) and a 14.4% YoY growth in Distribution Per Unit (DPU). The company has also achieved a perfect score of 100 out of 100 in the 2026 GRESB Development Ratings, securing the no. 1 position across the Office/Asia, Office/Listed and Asia/Listed categories.
Analysis Scores
Earnings Impact8/10
Growth Catalyst6/10
Governance Concern1/10
Regulatory Risk1/10
Balance Sheet Risk2/10
Liquidity Impact9/10
Market Sentiment8/10
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Full Announcement
Mindspace Business Parks REIT - 543217 - Reg 23(5)(i): Disclosure of material issue
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November 02, 2026
The Listing Department The Listing Department
The National Stock Exchange of India Limited BSE Limited
Exchange Plaza, Plot No. C/1, G - Block, Phiroze Jeejeebhoy Towers,
Bandra Kurla Complex, Dalal Street,
Bandra (E), Mumbai - 400051 Mumbai - 400001
Scrip Symbol: “MINDSPACE” (Units) Scrip Code “543217” (Units) and
Scrip Codes “974075”, “975068”, “975537”,
“975654”, “975763”, “976198”, “976691”,
“977043”, “977120”, “977297”, “977350”,
“977614”, “977771”, “978031” and “978082”
(Non-Convertible Debentures) and
Scrip Codes “731549” and “731985”
(Commercial Papers)
Subject: Press Release and Earnings Presentation for the quarter and half year ended
September 30, 2026
Dear Sir/Madam,
Pursuant to Regulation 23(5) and other applicable provisions, if any, of Securities and Exchange Board
of India (Real Estate Investment Trusts) Regulations, 2014, as amended, read with circulars and
guidelines issued thereunder from time to time (“REIT Regulations”) and Securities and Exchange
Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“LODR
Regulations”) and other applicable laws as amended from time to time, we are hereby enclosing the
following:
1. Press release in respect of the financial results and operating performance of Mindspace Business
Parks REIT (“MREIT”) for the quarter ended September 30, 2026, enclosed as Annexure 1; and
2. Earnings presentation comprising the business and financial performance of MREIT for the quarter
and half year ended September 30, 2026, enclosed as Annexure 2.
The above information shall also be made available on MREIT’s website at:
https://www.mindspacereit.com/investor-relations/stock-exchange-filings
This intimation is to be read together with our intimation titled “Outcome of the meeting of the Board of
Directors of K Raheja Corp Investment Managers Private Limited (acting as the Manager to Mindspace
Business Parks REIT) (“Manager/Company”) held on November 02, 2026” filed on November 02, 2026.
Please take the same on your record.
Thanking you.
Yours faithfully,
For and on behalf of K Raheja Corp Investment Managers Private Limited
(acting as the Manager to Mindspace Business Parks REIT)
Mridul Gupta
Compliance Officer and Company Secretary
Encl.: As Above
K Raheja Corp Investment Managers Private Limited
(acting as the Manager to Mindspace Business Parks REIT)
Corporate Identification Number (CIN): U68200MH2023PTC406104
Regd. Office: Raheja Tower, C-30, Block ‘G’, Bandra Kurla Complex, Bandra (E), Mumbai – 400 051
+91 - 22 - 2656 4000 | www.mindspacereit.com | reitcompliance@mindspacereit.com
Annexure 1
Mindspace Business Parks REIT Announces Results for Q2 FY27
Posts Robust NOI Growth of 31.9% YoY
DPU Grows a Healthy 14.4% YoY
Gross Leasing remains Strong at 1.6 million square feet
Committed Occupancy Rises to a Record 96.1%1
Net Asset Value per unit Grows 7.2% to INR 565.1 per unit
Mumbai, November 02, 2026: Mindspace Business Parks REIT (‘Mindspace REIT’) (BSE: 543217 |
NSE: MINDSPACE) owner of quality Grade A office portfolio located in four key office markets of India, reports results
for the quarter and half-year ended September 30, 2026.
Particulars Unit Q2 FY27 Q2 FY26 Growth
(Y-o-Y)
Revenue from Operations INR Mn 10,099 7,778 29.8%
Net Operating Income (NOI) INR Mn 8,361 6,339 31.9%
Distribution Per Unit (DPU) INR 6.67 5.83 14.4%
“Our performance reflects the strength of our portfolio and our ability to execute. NOI grew 31.9% this quarter, with
occupancy reaching a record 96.1%, supported by strong leasing, rising rents and completed developments. Our recent
Chennai acquisitions are already exceeding leasing and rental expectations, demonstrating the value of disciplined
investing. We remain focused on growing earnings, strengthening our portfolio and delivering attractive long term
returns to our unitholders through active asset management and disciplined capital allocation,” said Ramesh Nair, MD
& CEO, Mindspace REIT.
Operating Highlights
• Recorded gross leasing of c. 1.6 million sq. ft. in Q2 FY27
• Since acquisition, leased c. 0.6 million sq. ft. at newly added Chennai assets, ahead of business plan
• Committed occupancy of both these assets stand at c.77.5% for Commerzone Pallikaranai and c.75% for One
Radial
• Signed a large deal of c. 0.5 million sq. ft. at One RadialTM with a European BFSI GCC
• First redevelopment project of c. 1.5 million sq.ft. successfully delivered at Hyderabad with 100% pre-leasing
• Completed Portfolio increases to 37.7 million sq. ft.
• Actively working on development pipeline of 6.0 million sq. ft.
• Acquired 0.15 million sq. ft. across Commerzone Yerwada and Mindspace Madhapur
• Cumulatively consolidated c. 0.8 million sq. ft. within the parks
• Strong rental growth at most of the micro markets keeps our Mark-to-Market (MTM) potential at c. 22.8%
• 2026 GRESB Development Ratings:
o Mindspace REIT achieved a perfect score of 100 out of 100, securing no. 1 position across the
Office/Asia, Office/Listed and Asia/Listed categories
o Named Global Sector Leader, Global Sector Leader – Listed and Regional Sector Leader
o Achieved 5-star rating for fourth consecutive year
1 Like to Like Basis excluding new acquisitions completed in H1 FY27 and Pocharam (asset held for sale); Committed Occupancy
including all acquisitions is 93.8% (excluding Pocharam)
Financial Highlights
• Clocked healthy Net Operating Income (NOI) growth of c. 31.9% YoY in Q2 FY27 to c. INR 8,361 Mn
• Like to like NOI grows a healthy 16.8% YoY in Q2 FY27
• Gross Asset Value (GAV) of the portfolio rises 15.9% to c. INR 552 Bn1
• Net Asset Value (NAV) per unit grows from INR 527 pu to INR 565.1 pu, a 7.2% increase
• Delivered a 78% cumulative growth and c.10% CAGR in NAV per unit since listing
• Loan-to-Value (LTV) remains broadly unchanged at c. 29.1%
• Cost of debt continues to hold steady at 7.43% per annum per month
Distribution
• Declared distribution of c. INR 4,415 million for Q2 FY27
• Distribution per unit (DPU) for Q2 FY27 stood at INR 6.67 per unit
• DPU YoY growth of c. 14.4% delivered
• Record date for the distribution is November 5, 2026
• Payment of the distribution shall be processed on or before Nov 13, 2026
• Cumulative distribution of c. INR 76.4 billion or c. INR 126 per unit since listing
Investor Communication and Quarterly Investor Call Details
Mindspace REIT has disclosed the following information pertaining to the financials and business performance (i)
The Unaudited Standalone and Consolidated financial results and Unaudited condensed Standalone and Consolidated
financial statements for the quarter and half year ended September 30, 2026 and (ii) earnings presentation covering
Q2 FY27 results. All these documents are available on Mindspace REIT’s website at
https://www.mindspacereit.com/investor-relations/financial-updates/#ir.
Mindspace REIT is also hosting an earnings conference call on November 03, 2026 at 08:30 hours (Indian Standard
Time) to discuss the Q2 FY27 results. The dial in details are available on our website at
https://www.mindspacereit.com/investor-relations/calendar#ir and have also been filed with the stock exchanges.
A replay of the call and the transcript will be available on Mindspace REIT’s website at
https://www.mindspacereit.com/investor-relations/calendar#ir.
Disclaimer
This press release (“Press Release”) (a) is for information purpose only without regards to specific objectives,
financial situations or needs of any particular person, (b) comprises information given in summary form and neither
purports to be complete nor guarantees that such information is true and accurate, (c) should not be considered as a
recommendation to any person to purchase / subscribe to any units, debentures, bonds or any other securities /
instruments issued or proposed to be issued by Mindspace REIT (d) does not constitute or form part of any offer for
sale or subscription of or solicitation or invitation of any offer to buy or subscribe fo
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