Mindspace Business Parks REIT has informed the Exchange regarding Disclosure of material issue
Awaiting price reaction for this filing.
Mindspace Business Parks REIT reported strong Q3 FY26 results with revenue from operations up 27.2% year-on-year to INR 8,163 Mn and Net Operating Income (NOI) growing 28.7% to INR 6,714 Mn. Distribution for the quarter rose 19.8% YoY to INR 3,780 Mn, translating to a Distribution Per Unit (DPU) of INR 5.83, up 9.6% YoY. Portfolio committed occupancy improved sequentially to 94.5% (highest since listing), backed by gross leasing of about 1.1 msf and a robust re-leasing spread of 27.4% on roughly 1.0 msf re-let during the quarter. The REIT recently completed acquisition of 0.8 msf of CBD assets in Mumbai and Pune, taking its Gross Asset Value to INR 441 Bn, and continues to pursue accretive inorganic growth. Balance sheet remains strong with LTV of 24.9%, cost of debt at 7.39% (down 13 bps sequentially), and a cumulative distribution of INR 63.3 Bn (INR 105.7 per unit) since listing.
Strong NOI and distribution growth, high occupancy, and accretive acquisitions are positive for unitholders, reinforcing cash flow visibility. Lower cost of debt and healthy LTV provide headroom for further portfolio expansion, supporting potential DPU growth going forward.