Mindspace Business Parks REIT has informed the Exchange regarding Disclosure of material issue
Awaiting price reaction for this filing.
Mindspace Business Parks REIT filed a combined disclosure covering three items: (1) details of security created against its listed non-convertible debentures, (2) a Security Cover Certificate confirming no material deviation in use of issue proceeds for Q4 FY25, and (3) its Audited Condensed Standalone Financial Statements for the year ended March 31, 2025, audited by Deloitte Haskins & Sells LLP with an unqualified opinion. For FY25, the REIT reported total income of Rs 9,572.79 million and profit of Rs 5,915.86 million (down from Rs 11,611.98 million in FY24), with total assets rising to Rs 212,660.68 million from Rs 201,910.81 million. Net asset value per unit stood at Rs 272.96 (book value) and Rs 423.61 (fair value), with total return at fair value of Rs 43,427.54 million for FY25. The Board declared a distribution of Rs 6.44 per unit for Q4 FY25 (aggregating Rs 3,923.14 million), taking cumulative FY25 distribution to Rs 21.95 per unit.
This is largely a routine regulatory filing combining debenture security disclosures and annual audited results. The FY25 profit decline is notable but fair value of investment properties strengthened materially, lifting net asset value per unit from Rs 372.97 to Rs 423.61. Unitholders benefit from a steady Rs 21.95 per unit annual distribution, broadly in line with REIT norms requiring 90% NDCF payout.