PERFORMANCE HIGHLIGHTS

Mindspace REIT's FY24 at a Glance

Operating Performance

3.6 MSF

Gross leasing

2.5 MSF

Re-leased Area

1.1 MSF

New and Vacant Area Leased

` 69 psf / month

Average Rent for Area Leased

90.6 %

Committed Occupancy
(excluding Pocharam)

Re-leasing Spread⁽¹⁾
14.3% on 3.4 MSF

Area Re-leased

GRESB score

Development

Participation and Score

100/100

Standing Investment

Participation and Score

91/100

Received Platinum &
Gold LEED O&M

Certification across buildings

Financial Performance

` 23512 MN⁽²⁾

Revenue from Operations
(13.7% growth y-o-y)⁽³⁾

7.8 %

Weighted Average Cost of Debt

` 299 BN

Market value⁽⁶⁾

` 18959 MN⁽²⁾

Net Operating Income
(11.9% growth y-o-y)⁽³⁾

` 114 BN

Distribution (` 19.2 p.u.)

` 14.9 BN

Amount raised in the form of AAA-rated NCDs and CPs at REIT level

7.0%

Distribution Yield⁽⁴⁾

21.1%

Net Debt to Market Value⁽⁵⁾

` 380.5 P.U.

NAV⁽⁶⁾

A Positive Impact on Communities

` 12.0 BN

Green Financing till date

99.9%

Green Building Certifications

46.4%

Total water Energy Share FY24

1.93 MW

Solar power generation capacity on the rooftops of our buildings

30.4%

Reduction in Scope 1 and Scope 2 emissions (baseline year of FY20)

11 +

Average ESG Training Hours per Employee

37%

Female representation at senior management level

28.9%

Renewable energy share in FY24

⁽¹⁾Re-leasing spread includes spread on extensions and vacant area leasing
⁽²⁾ Represents 100% of the SPVs including minority interest in Madhapur SPVs. Revenue from Operations include Regulatory
Income/(Expense) of Power Business post re-classification and s excludes Revenue from Works Contract Services
⁽³⁾ Growth % excludes one off net income / (expense) of H 33 Mn in FY24 and H 186 Mn in FY23
⁽⁴⁾ Distribution yield basis FY24 distribution calculated on issue price of ` 275 p.u.
⁽⁵⁾ Net Debt and Market value as of March 31, 2024; for the purpose of LTV calculation Net Debt is considered post accounting and minority adjustment
⁽⁶⁾ Market Value of Mindspace Madhapur is with respect to 89% ownership of Mindspace REIT in respective Asset SPVs