Mindspace REIT leases 1.6 million sq ft in Q2, NOI rises 31.9%
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Mindspace Business Parks REIT leased 1.6 million sq ft during the July-September quarter, pushing committed occupancy to 96.1%.
- ✓The trust reported a net operating income of Rs 836 crore, a 31.9% increase.
- ✓It also declared a distribution of Rs 442 crore, with payments to be processed by November 13.
Story at a Glance
- Category
- BUSINESS
- Reported By
- Economic Times
- Reading Speed
- 2 Minute(s)
- Market Focus
- India Economy
MUMBAI: K Raheja Corp group-sponsored Mindspace Business Parks REIT has recorded gross leasing of over 1.6 million sq ft during the July-September quarter, taking its committed occupancy to a record 96.1%.
The Real Estate Investment Trust (REIT) has also leased around 0.6 million sq ft at its newly acquired Chennai assets since acquisition. A large transaction covering around 0.5 million sq ft was signed at One Radial with a European banking, financial services and insurance (BFSI) global capability centre (GCC).
The REIT reported net operating income (NOI) of Rs 836 crore in the second quarter, registering a 31.9% year-on-year increase compared with Rs 634 crore in the corresponding quarter last year. Revenue from operations increased 29.8% to Rs 1,010 crore from Rs 778 crore.
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Economic Times
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