Mindspace REIT at a Glance

A gateway to
infinite possibilities

Mindspace REIT provides a community-based ecosystem to leading corporates. Our office spaces are designed to meet the evolving needs of ‘new-age businesses’ and appeal to millennial generation. With high quality infrastructure and amenitized campuses, we have emerged as a partner of choice for both domestic and foreign multinationals.

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Quick facts

23.9 msf

Completed Area

56

Premium buildings across
10 office assets

361

Green buildings

`246 billion

Market Value 2,3

160+

Marquee tenants

6 years

WALE

All above figures are as on March 31, 2021
1 Includes 1 pre-certified building
2 The Market Value of Mindspace Madhapur is with respect to 89.0% ownership
3 As valued by Independent Valuer

Corporate structure

A simple and efficient holding framework

SPV

KRT | Intime | Sundew

Mindspace Madhapur,

Hyderabad

89%(1)

Avacado

Paradigm Mindspace Malad,

Mumbai Region

The Square Avenue 61 (BKC),

Mumbai Region

100%

MBPPL

Mindspace Airoli (E),

Mumbai Region

Commerzone Yerwada and The Square Signature Business Chambers
(Nagar Road), Pune

Mindspace Pocharam,

Hyderabad

100%

Gigaplex

Mindspace Airoli (W),

Mumbai Region

100%

KRC Infra

Gera Commerzone Kharadi,

Pune

Facility Management Division (2)

100%

Horizonview

Commerzone Porur,

Chennai

100%

Notes:

1. 11% shareholding in each of these Asset SPVs is held by Andhra Pradesh Industrial Infrastructure Corporation (APIIC).

2. KRC Infra commenced facility management division with effect from October 01, 2020 under the brand name "CAMPLUS".

  All % indicate Mindspace REIT’s shareholding in respective Asset SPVs.

 

Message from the CEO

Resilient performance
at every level

We remain committed to delivering long-term, sustainable value. Our portfolio is geared to attract top tenants in the fast-growing technology landscape of India as we prioritize health and safety and set new goals for sustainability

Vinod Rohira

CEO

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Key highlights

The year at at glance

Successful listing as our IPO saw and overwhelming response from both institutional and non-institutional investors

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Operating Highlights

3.5 msf

Gross Leasing
during FY21

1.3 msf

New area leasing
during FY21

2.2 msf

Area Re-leased
during FY21

19.1%

Re-leasing Spread

Financial Highlights

`13.7 billion

Proforma NOI
during FY21

`11.5 billion

Amount raised in the form of AAA rated MLDs and NCDs at REIT level during FY21

`5.6 billion

Green Loan at SPV level

`345.2 p.u.

NAV as of March 31, 2021

Key performance indicators

Strong financials, robust cash flows

  • REVENUE FROM OPERATIONS
  • NET OPERATING INCOME (NOI)
  • NET ASSET VALUE (NAV) PER UNIT
  • WEIGHTED AVERAGE COST OF DEBT
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REVENUE FROM OPERATIONS

REVENUE FROM OPERATIONS (` million)

    • 8.9%

    4 -year CAGR

NET OPERATING INCOME (NOI)

NET OPERATING INCOME (NOI) (` million)

    • 11.5%

    4 -year CAGR

NET ASSET VALUE (NAV) PER UNIT

NET ASSET VALUE (NAV) PER UNIT (`)

NET ASSET VALUE (NAV) PER UNIT

WEIGHTED AVERAGE COST OF DEBT (%)

    • 210 bps

    Reduction in cost of debt

We remain committed to delivering long-term, sustainable value. Our portfolio is geared to attract top tenants in the fast-growing technology landscape of India as we prioritize health and safety and set new goals for sustainability

Preeti Chheda

Chief Financial Officer

Stakeholder engagement

Identifying focus areas to
shape the future

We engage extensively with our stakeholders to understand their evolving expectations and factor in their insights into our value creation process. Our proven track record in delivering sustainable value is attributable to our strategically identified focus areas.

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Strategy

Maximizing long-term,
returns

Our world-class portfolio plays a key role in attracting and retaining marquee tenants. As a REIT, our objective is to maximize returns to our unitholders by enhancing our portfolio value through active asset management and tapping organic and inorganic growth opportunities.

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Our ESG priorities

Embedding sustainability through the ESG lens

At Mindspace REIT, sustainability is at the core of our business objectives. We have adopted a multi-pronged approach that takes into consideration the interplay of economic, Environmental, Social and Governance (ESG) aspects in creating long-term value. The once-in-century global crisis in the form of a pandemic has reinforced the need for concerted efforts to ensure a shared future.

Environment

Making space for
a sustainable future

Sustainable use of natural resources is critical for the future success of most businesses. Successful business models are those that understand the value of the natural systems that provide these resources — commonly referred to as natural resources.

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Social

Building a culture
of safety and inclusivity

Human resources comprises the knowledge and skills of an organization’s employees that can be used to advance its goals. Human resources and business growth have a strong correlation. At Mindspace REIT, our people form the bedrock of our success story.

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Governance

Ensuring transparency
and accountability

Accountability, fairness and transparency with all its stakeholders are the guiding principles of governance framework of Mindspace Business Parks REIT aimed at creating sustainable and long-term value for its stakeholders.

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Response to COVID-19

Supporting stakeholders
during the pandemic

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Industry Landscape

Grade A office
market overview

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Our properties


Downlaod

Management Discussion and Analysis

Standalone Statements

Consolidated Statements

Corporate Governance

Valuation
Report

Response to COVID-19

Supporting stakeholders
during the pandemic

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Industry Landscape

Grade A office
market overview

Know more

Our properties


Downlaod

Management Discussion and Analysis

Satutory
Reports

Financial Statements

Corporate Governance

Valuation
Report