Mindspace Business Parks REIT has informed the Exchange regarding Disclosure of material issue
Awaiting price reaction for this filing.
Mindspace Business Parks REIT announced its Q4 FY25 and full-year FY25 results, reporting its highest-ever quarterly gross leasing of c.2.8 msf and annual leasing of c.7.6 msf since listing. Q4 FY25 revenue grew 14.1% YoY to INR 6,780 Mn, while Net Operating Income (NOI) rose 13.2% to INR 5,398 Mn. Distribution for the quarter jumped 38.7% YoY to INR 3,923 Mn (DPU of INR 6.44). FY25 distribution stood at INR 13,121 Mn (DPU of INR 21.95). Portfolio committed occupancy rose 1.5% QoQ to 93%, NAV per unit grew 10% to INR 431.7, and Gross Asset Value increased 16.9% to INR 366.5 Bn. The REIT completed its first ROFO acquisition (Sustain Properties at Commerzone Raidurg, Hyderabad, c.1.8 msf) and pre-leased a 1.5 msf building at Mindspace Madhapur to a large global captive center. Leverage remains low at 24.3% LTV with cost of debt at 8.15%.
Strong operational and financial performance with record leasing, robust distribution growth, and disciplined leverage is likely to be viewed positively by unitholders. The distribution yield of 6.9% on Q4 FY25 DPU and improving NAV per unit support unitholder value, though the stock has likely already priced in much of the positive momentum.