ACQUISITION UPDATE

Driving Portfolio Expansion through Inorganic Growth

Mindspace REIT gains 100% ownership of Commerzone Porur

Mindspace REIT, through its Asset SPV, now owns 100% of the Commerzone Porur with a total leasable area of c.1.1 msf cementing our commitment to enhancing our premium real estate offerings.

0.24 MSF

Area acquired

33.2 MSF

Total leasable portfolio area post-acquizition

Concluded an accretive acquizition of c.0.24 msf at Commerzone Porur, Chennai for H 1,816 Mn⁽²⁾, from RPIL Signalling Systems Limited
Strategic acquizition enabling 100% Ownership of the Asset
The deal was funded by debt, and no fee is payable to the Manager for this acquizition
The acquizition adds ` 0.36⁽¹⁾ per unit to the NAV of overall portfolio

Our existing area of c.0.9 msf at the asset has achieved committed occupancy of over c. 95% with leading MNCs and prominent domestic clients. This strategic acquisition has helped Mindspace REIT gain full control of the project while offering consolidation and expansion opportunities to existing occupiers within the park. It aligns perfectly with our strategy to exercise complete and comprehensive control of our assets, enabling holistic planning and decision-making across the portfolio.

The quality office property, located in one of the prominent micro-markets of Chennai, is currently occupied by marquee global MNCs as well as domestic clients, and this acquisition provides us with enhanced leasing options. The transaction, in addition to bolstering our position in the Chennai market, delivers value to our unitholders.

⁽¹⁾ Based on a fair valuation of ` 2,027 Mn by an independent valuer
⁽²⁾ Includes consideration and transaction costs and other charges to be borne by HPPL

Strategic Acquisition for Mindspace REIT to Consolidate Holding at Commerzone Yerwada

Acquisition of c.42 ksf at Building 3 of Commerzone Yerwada for ` 410 Mn (` 9,761 psf) at c.13% discount to Fair Value of ` 470 Mn⁽¹⁾ (` 11,188 psf)

⁽¹⁾As per Valuation by independent valuer.

Mindspace REIT through its 100% owned Asset SPV, MBPPL, acquired additional units at Commerzone Yerwada to consolidate its holdings in the area. Covering c.42 ksf, this acquizition will expand the REIT's total leasable area within the business park. Notably, 50% of the space acquired is already leased to an MNC. This strategic investment underscores Mindspace REIT's commitment to strengthen its majority position in some of its parks and consolidate ownership through acquizitions whenever opportunities arise.

c.42 ksf

Total leasable area of units acquired

Mindspace REIT's low loan-to-value ratio ensures it is wellpositioned to explore inorganic growth avenues.