DIVERSIFIED TENANTS

Building Stronger Relationships

Our strong tenant portfolio and long-standing relationships are a result of the efforts we have invested in nurturing these connections. We provide workspaces that are meticulously crafted to meet global standards in quality, safety, and well-being,and our integrated ecosystems provide ample opportunities for future expansion. Evidenced by the fact that 68.1% of approximately 3.6 million sq ft leased in FY24 was secured by existing tenants,Mindspace remains the preferred partner for tenants considering new leasing or expansion decisions. With the top 10 tenants contributing to 28.1% of the gross contracted rentals, the portfolio showcases robust diversification.

We place a premium on securing creditworthy tenants in our portfolio, which includes esteemed companies like L&T, Wipro, Verizon, and many more marquee companies. Our forte in cultivating deep partnerships with our tenants established us as their preferred choice for growth.

Notably, in FY24, more than 69.2% of gross contracted rentals originate from foreign multinational corporations and 33.0% from Fortune 500 companies, underscoring the stability and resilience of the tenant base.

Key Highlights

69.2%

Share of foreign MNCs in rentals(1)

28.1%

Share of top 10 tenants in rental(1)

33.0%

Share of Fortune 500 companies in rentals(1,2)

43.0%

Contribution by technology sector in rental (1)


1. Represents % of Gross Contracted Rentals as on March 31, 2024
2. Fortune 500 Global List of 2023

 

Diversified Tenant Mix Across Sectors(1)

Our Tenant Engagement Initiatives have fostered a sense of camaraderie among the vast community of employees across our business parks. During these events, we have seen a participation of over 60,000 employees across the parks.

Top 10 Tenants Across Our Portfolio

Tenant Sector % of total gross contracted No. of Asset Present
L&T Technology 4.2 2
Cognizant Technology 3.6 2
Accenture Technology 3.4 2
IDFC Financial Service 2.9 2
Smartworks Flexible workspace 2.6 2
Barclays Financial Service 2.4 1
Verizon Telecom & Media 2.4 1
Hitachi Energy Engineering & Manufacturing 2.4 1
BA Continuum Financial Service 2.1 1
Schlumberger Engineering & Manufacturing 2.0 1
Total 28.1

11 YEARS

Average duration of top 10 Tenants association with us

23

Tenants present in multiple parks

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