The fact that existing clients formed more than 50% of the new leasing in FY21, is an endorsement of our long-standing relationships and the ecosystems we offer at our parks. Our portfolio consists of 164 marquee tenants as on March 31, 2021.

Mindspace REIT signed 3.5 msf leases across 44 tenants at an average rent of `69 psf during FY21. It includes c. 1.3 msf of new area leasing at around market rents and c. 2.2 msf re-leased at 19.1% re-leasing spread; 53.5% of our gross leasing was to existing tenants while balance 46.5% was to new tenants.

TOP 10 LEASES SIGNED IN FY21 INCLUDING RE-LEASING ARE AS FOLLOW:

Tenants Assets Location Area Leased (msf)
Princeton Digital Mindspace Airoli (W) Mumbai Region 0.63
Syntel Mindspace Airoli (E) Mumbai Region 0.35
Verizon Mindspace Madhapur Hyderabad 0.29
ADP The Square Nagar Road Pune 0.22
BP Gera Commerzone Kharadi Pune 0.21
J.P. Morgan Mindspace Madhapur Hyderabad 0.19
Parexel Mindspace Madhapur Hyderabad 0.18
Citius Mindspace Airoli (E) Mumbai Region 0.17
Mindcrest Gera Commerzone Kharadi Pune 0.11
Smartworks Mindspace Malad Mumbai Region 0.10
Others 1.08
Total 3.54

LEASE EXPIRY PROFILE

Lease expiry profile (msf)

Area re-leased (since April 2017) msf

AREA-WISE LEASING PERFORMANCE

New area leased
% split by area(1)

Existing area re-leased/vacant area leasing
% split by area (1)

Note:

1 For the period April 2017 – March 2021; Includes Committed and Pre-leased Area