Asset Cover Certificate for the Financial year ended March 31, 2025
Awaiting price reaction for this filing.
Mindspace Business Parks REIT has filed its Asset Cover Certificate along with the Audited Condensed Standalone and Consolidated Financial Statements for FY ended March 31, 2025, in line with SEBI REIT Regulations and Listing Regulations. The filings include details of security created on its listed Non-Convertible Debentures, a Security Cover Certificate under Regulation 54(3), and a statement confirming no material deviation in use of issue proceeds. Standalone total assets stood at Rs. 212,660.68 million with total borrowings of about Rs. 46,155.61 million (non-current Rs. 40,294.30 million + current Rs. 5,861.31 million). FY25 standalone profit was Rs. 5,915.86 million vs Rs. 11,611.98 million in FY24, while Net Assets at fair value rose to Rs. 258,055.24 million with NAV per unit at Rs. 423.61 (vs Rs. 372.97 last year). The Board declared a Q4 FY25 distribution of Rs. 6.44 per unit (total Rs. 3,923.14 million), taking cumulative FY25 distribution to Rs. 21.95 per unit. Total Return at fair value for FY25 stood at Rs. 43,427.54 million.
This is a routine compliance filing under SEBI regulations and does not signal any material change in operations. The asset cover certificate assures debenture holders that the value of secured assets is sufficient against outstanding borrowings, reinforcing debt safety. The strong NAV growth (up ~13.6% YoY at fair value) and consistent distributions of Rs. 21.95 per unit for FY25 remain positive for unitholders.