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Mindspace Business Parks REIT (BSE: 543217 | NSE: MINDSPACE), owner and developer of a high-quality Grade-A office portfolio, has completed five successful years since its listing on the Indian bourses. Debuting in August 2020 amid the global pandemic and nationwide lockdown, Mindspace REIT has demonstrated resilient growth, reinforced occupier trust, and delivered consistent returns to its unitholders.
Over the past five years, the REIT has achieved several key milestones that shaped its journey:
- Added 3.1 million sq. ft. through strategic acquisitions to strengthen its presence in key markets
- Delivered 3.7 million sq. ft. of new developments
- Achieved 25.2 million sq. ft. of gross leasing, including re-leasing and fresh leasing
- Distributed INR 55.9 billion cumulatively to unitholders
- Delivered 14.8% annualised total returns since listing
- Became the first and only Indian REIT to introduce five data centers in its portfolio
- Became the first Indian REIT to raise funds through Sustainability-Linked Bonds at the REIT level
- Maintained a robust balance sheet, with Loan-to-Value (LTV) at 25.0%
Sponsored by the K Raheja Corp group, Mindspace REIT has expanded its footprint across MMR, Hyderabad, Pune, and Chennai. Its portfolio has been made future-ready through continuous upgrades, tenant-centric designs, wellness-focused ecosystems, and sustainability embedded in operations. Occupancy across the portfolio remains strong at 93.7%, reflecting consistent demand and healthy tenant retentions. These fundamentals have supported consistent leasing momentum, resilient occupancy, and stable distributions to unitholders.
Ms. Preeti Chheda, CFO, K Raheja Corp Investment Managers Private Limited, Manager to Mindspace REIT, said:
“The REIT framework has transformed how high-quality commercial real estate is funded and owned in India. Over these five years, Mindspace REIT has played its part by accelerating institutional financing into office assets, unlocking liquidity for developers, and delivering meaningful value to unitholders. This performance has strengthened confidence in the product and demonstrated that well-managed, income-generating real estate can create lasting market value. With 8 times increase in the unitholder base and cumulative distributions of INR 55.9 billion, we have demonstrated consistent performance amid evolving market cycles. We remain committed to prudent financial management and to unlocking sustainable, long-term growth.”
Mindspace REIT’s five-year journey reflects the growing maturity of India’s REIT market and its potential to deliver long-term value through well-managed, income-generating real estate assets. With a strong balance sheet, expanding portfolio, and focus on sustainability, the REIT continues to build a resilient platform for future growth.
