Mindspace REIT is a pioneer in shaping world-class office spaces, offering Grade A integrated business campuses, standalone office buildings, and cutting‑edge data centers across prime commercial hubs in the Mumbai, Hyderabad, Pune, and Chennai region.
3 Marquee Brands
Our illustrious track record of delivering Grade A premium business spaces with renowned operational excellence establishes us as the preferred partner for global brands and their millennial workforce. Our proven record of building future‑ready workspaces serves as a compelling force in attracting top-tier clients and their employees.
Integrating sustainability into our business value chain and operations is of paramount importance. We seek to minimize our environmental footprint and deliver a positive impact through initiatives aimed at reducing energy and water consumption, and by increasing our reliance on renewable energy sources.
Green Power Usage
Renewable Power Capacity
Built upon a foundation of prudent financial management, our growth trajectory is guided by a prudent focus on optimizing cash flow and creating enduring value for our unit holders. This steadfast approach ensures the maintenance of a resilient balance sheet, adept at meeting the liquidity needs of our business.
Distribution Yield
Net Debt to Market Value
Our diversified portfolio across markets, active developments, revitalizing existing properties, and redevelopments mitigates risk and enhances resilience allowing us to capitalize on opportunities in various market conditions. This entails a strategic shift towards quality workspaces that prioritize healthy building technology and expansive outdoor amenity spaces.
Total Leasing Area
Gross Leasing
We work closely with our stakeholders, business partners, and tenants to foster and nurture an engaging and mutually beneficial partnership. Mindspace REIT is also actively involved in nurturing and empowering our communities, especially women and children, through education, training, upskilling, and reskilling.
Average ESG Training Hours per Employee
It is with great honor and enthusiasm that I address you in my capacity as the new CEO of Mindspace Business Parks REIT. I take on this role at an exciting time and I am humbled by the trust and confidence shown in me by the Board of Directors to guide this esteemed organization into its next chapter of growth and success.
Inspired by the achievements and the solid foundation laid by my predecessor, Mr. Vinod Rohira, I am committed to building on his esteemed legacy and driving our Organization forward with a clear vision, strategic direction, and unwavering dedication to excellence.
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Gross Leasing
Re-leased Area
New and Vacant Area Leased
Average Rent for Area Leased
Committed Occupancy (excluding Pocharam)
Area Re-leased
Development
Participation and Score
Standing Investment
Participation and Score
Received Platinum & Gold LEED O&M
Certification across buildings
Revenue from Operations (13.7% growth y-o-y)(3)
Weighted Average Cost of Debt
Market value(6)
Net Operating Income (11.9% growth y-o-y)(3)
Distribution (` 19.2 p.u.)
Amount raised in the form of AAA-rated NCDs and CPs at REIT level
Distribution Yield(4)
Net Debt to Market Value(5)
NAV(6)
Green Financing till date
Green Building Certifications
Total water Energy Share FY24
Solar power generation capacity on the rooftops of our buildings
Reduction in Scope 1 and Scope 2 emissions (baseline year of FY20)
Average ESG Training Hours per Employee
Female representation at senior management level
Renewable energy share in FY24
As specialists in office development, with a keen eye for market trends and a deep understanding of tenant needs, we create dynamic workspaces that inspire productivity and drive collaboration, leading to success. Through continuous engagement with tenants, we derive insights into their new-age requirements, helping us in the development and redevelopment of buildings. Our development strategies are based on gauging the demand and supply factors within each micro-market.
Expansion of Our Parks
Commerzone Kharadi is situated advantageously in the eastern micromarket of the city and is the perfect blend of urban design and natural surroundings.
Leasable Area
Structure works completed; Finishes, façade and MEP works in progress
Q3 FY25
Re-development will ensure the expansion of our portfolio through the replacement of erstwhile building with a modern state-ofthe-art commercial space ensuring value maximization throughout the asset lifecycle.
Leasable Area
Foundation and basement works under progress
Q4 FY26
High Street to include retail and F&B along the main access road (Thane-Belapur Road) for strong visibility and better accessibility. The retail and lifestyle mix will come alive with fashion brands, cafes, fine-dining experiences, spas and salons.
Leasable Area
External development works in progress
Q1 FY25
Diversifying our tenant portfolio to include a data center strategically located in the leading market of IT corridor of Mumbai Region.
Leasable Area
6th Slab completed for DC building; above terrace works for DG building in progress
Q4 FY25
The common central area at the business park will act as a confluence of work and leisure with efficiently designed working spaces, along with recreational facilities such as food courts, gym, spa, indoor games, and fine-dining restaurants.
Leasable Area
Upper Ground Floor Slab works in progress
Q1 FY26
Strategically located re-development offers expansiaon and consolidation spaces within the park.
Leasable Area
Excavation works under progress
Q4 FY27
With prudent fiscal management and a low-leverage balance sheet, we are positioned to pursue growth initiatives and deliver unitholder value.
Distribution yield on issue price of `275 per unit
Net Debt to Value
Net Debt to EBITDA
At Mindspace REIT, we cultivate strong partnerships by actively engaging with our stakeholders. Through proactive collaboration, we deliver effective solutions that consistently generate positive outcomes across our stakeholder value chain.
Boost employee morale and productivity to create a diversified and inclusive work environment, while focusing on equal opportunity, safety, and holistic employee development
Provide a conducive and collaborative tenant experience by understanding their growing ambitions and requirements, thereby enhancing tenant retention
Building and sustaining a robust supply chain network and creating a lasting partnership
Helping communities we operate in thrive while striving to build a better planet
Ensure transparency, disclosure, compliance, and uphold the statutes of governance through a robust framework of communication for investors, lenders, rating agencies
Our commitment to fostering organic growth is evident in our forward-thinking approach emphasizing on modern solutions through continuous upgrades to our properties and redeveloping aging assets to remain relevant to today's customers. With a focus on quality asset management, we ensure that our portfolio remains optimized for performance and value enhancement.
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Target the right set of occupiers and become their partner of choice
Total tenants
Optimize capital structure
Net debt to market value
Proactive asset management and enhancement
Independent Directors on the Board
Sustainability as a business philosophy
Experienced in–house facility management team (Camplus)
As leaders of sustainable development, we are deeply committed to driving wellness through our ESG principles. Our commitment to Environmental, Social, and Governance, isn't just about meeting standards; it's about setting new benchmarks for excellence. Our dedication to ESG not only reflects our values but also drives our long-term success and resilience.
Through sustainable resource management in property development, and implementing energy, water, and waste initiatives, Mindspace aims to enhance efficiency and reduce environmental impact. Guided by our commitment to environmental stewardship, we undertake interventions that create long-term value.
Alignment with UN SDGs
We are dedicated to upholding human rights and ethical practices across our business operations, while emphasizing on sustainable growth and community ellbeing. We have implemented strict measures to prevent human rights violations and established a robust grievance mechanism. This system allows us to swiftly address stakeholder concerns, reinforcing our commitment to ethical conduct and the protection of human rights.
Alignment with UN SDGs
Social Wellness
At Mindspace, we have cultivated a business deeply intertwined with our employees, tenants, and communities. Through employee engagement programs, tenant well-being initiatives, and community outreach efforts, we prioritize social wellness in all our interactions.
Alignment with UN SDGs