ACTIVE DEVELOPMENT PROJECTS

Scaling up for Expansion

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.

4.4 MSF

Workspaces at various
stages of development

Snapshot of our development pipeline

Assets Building Region Area (msf) Pending Estimated
CAPEX (` million)		 Estimated Completion
Under Construction Projects       18,103  
Commerzone Kharadi Building 4 Pune 1.0 1,777 Q3 FY25
Mindspace Madhapur Building 1A-1B Hyderabad 1.3 5,944 Q4 FY26
Mindspace Madhapur Building 7&8 Hyderabad 1.6 7,870 Q4 FY27
Mindspace Madhapur Experience Center Hyderabad 0.1 950 Q1 FY26
Mindspace Airoli (East) High Street Retail Mumbai Region 0.05 115 Q1 FY25
Gigaplex Building 8 - Data Center Mumbai Region 0.3 1,025 Q4 FY25
Others       422  
Recently completed       517  
Future Development Projects       4,813  
Mindspace Airoli (East)       4,813  
Upgrade Capex       4,091  
Fit-out & General Development       846  
Total       28,370  

Mixed-use Development at Airoli East

Mindspace REIT initiated mixed-use development at Mindspace Airoli East with a composite structure comprising commercial offices and a hotel spanning c.0.8 msf. With diversification and enhanced offerings for tenants in the park, the mixed-use development at Mindspace Airoli East fosters an integrated ecosystem. We received Board approval to sublease hotel to Chalet, spanning c.0.3 msf. This mixed-use development will seamlessly integrate with the existing landscape. With over 250 keys, alongside office space across c.0.5 msf, this venture promises to enrich the park's appeal, offering convenience and comfort to both occupants and visitors alike.

Experience Center at Madhapur

Mindspace REIT introduced Proposed Experience Center, an innovative and inclusive ecosystem meticulously crafted to address a wide spectrum of lifestyle and business requirements. Spanning c.130,000 sq ft of exclusive and premium space, the center aims to augment the Mindspace offering with the addition of a contemporary club facility with top-notch amenities integrating entertainment, sports, lifestyle, recreation, and dining options.

Achieving Efficiency through Implosion Technology

We employed cutting-edge 'Implosion Technology' for the strategic demolition of two aging buildings (Building 7 and 8) in Madhapur, Hyderabad. A first such instance in Hyderabad, the structures with a legacy of around 18 years were successfully dismantled and efficiently brought down in just 6-8 seconds – a stark contrast from the traditional demolition process that takes 3-4 months.

This move is part of our larger strategy to undertake infrastructure and workspace upgrades while being contemporary, impactful and environmentally responsible. This exciting development paves the way for a cutting-edge, sustainable Grade A asset spanning roughly 1.6 msf. It will meet global standards and provide room for businesses to grow and consolidate within the Business Park. We are dedicated to creating a top-notch asset that aims to achieve LEED Platinum and Wellness Certification standards.

Our larger strategy is to undertake infrastructure and workspace upgrades with the intent of staying contemporary, impactful, and environmentally responsible.

Expansion of Our Parks

Commerzone Kharadi, Pune: B4

1 MSF

Leasable Area

Status

Structure works completed; Finishes, façade and MEP works in progress

Expected completion

Q3 FY25

Commerzone Kharadi is situated advantageously in the eastern micromarket of the city and is the perfect blend of urban design and natural surroundings.

Mindspace Madhapur: 1A-1B Re-development

1.3 MSF

Leasable Area

Status

Foundation and basement works under progress

Expected completion

Q4 FY26

Re-development will ensure the expansion of our portfolio through the replacement of erstwhile building with a modern state-of-the-art commercial space ensuring value maximization throughout the asset lifecycle.

Mindspace Airoli East, Mumbai Region: High Street Retail and F&B

0.05 MSF

Leasable Area

Status

External development works in progress

Expected completion

Q1 FY25

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.

Mindspace Airoli West: B8 – Data Center

0.3 MSF

Leasable Area

Status

6th Slab completed for DC building; above terrace works for DG building in progress

Expected completion

Q4 FY25

Diversifying our tenant portfolio to include a data center strategically located in the leading market of IT corridor of Mumbai Region.

Mindspace Madhapur: Experience Center

0.1 MSF

Leasable Area

Status

Upper Ground Floor Slab works in progress

Expected completion

Q1 FY26

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.

Mindspace Madhapur: Building 7 & 8 Re-development

1.6 MSF

Leasable Area

Status

Excavation works under progress

Expected completion

Q4 FY27

Strategically located re-development offers expansiaon and consolidation spaces within the park.

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