Operating Highlights FY23
4.1 MSF
Gross leasing
Releasing Spread(1)
26.3% on 2.5 MSF
Area re-leased
1.5 MSF
New area leased
1.9 MSF
New area completed
89 %
Committed Occupancy
470 BPS
Increase in committed occupancy
Financial Highlights FY23
` 20685 MN(2)
Revenue from Operations for FY23
(16.6% growth y-o-y)(3)
` 17101 MN(2)
Net Operating Income for FY23
(13.2% growth y-o-y)(3)
` 11327 MN
Distribution for FY23 (` 19.1 p.u)
6.9 %
Annualized distribution yield (4)
` 280 BN
Market value(5)
` 371.9 p.u
NAV(5)
` 15.4 BN
Amount raised in the form of AAA-rated NCDs at REIT & SPV level
` 1.0 BN
1st REIT to raise Commercial Papers at REIT level in India
` 5.5 BN
1st REIT to raise Green Bond at REIT level in India
17.9 %
Net Debt to Market Value (6)
7.6 %
Weighted Average Cost of Debt
1 Re-leasing spread includes spread on extensions and vacant area leasing
2 Represents 100% of the SPVs including minority interest in Madhapur SPVs
3 Growth % excludes onetime compensation amounting to INR 186 Mn
4 Distribution yield basis FY23 distribution calculated on issue price of INR 275 p.u.
5 Market Value of Mindspace Madhapur is with respect to 89.0% ownership of Mindspace REIT in respective Asset SPVs
6 Net Debt and Market value as of March 31, 2023; for the purpose of LTV calculation Net Debt is considered post accounting and minority adjustment
A Positive Impact on Communities
` 12.0 BN
Green financing
>97.3 %
Green building certifications
1.93 MW
of solar power on the rooftops of our buildings
6.1 %
Renewable energy share in FY23
13 .3 %
Reduction in Scope 1 and Scope 2 Emission Reduction (baseline year of FY20)
8,26895 kL
Total water recycled during the FY23
32 %
Female representation at Senior Management Level(1)
300 + hours
Employee volunteering hours - The Hope Project
11 +
Average ESG training hours per employee
GRESB score
Development
Participation and Score
94/100
Standing Investment
Participation and Score
81/100
WELL Health & Safety
Rating
Received across buildings
41
Received Platinum & Gold LEED O&M
Certification across buildings
15
Note:
1 Includes all employees of Mindspace at General Manager and above levels