Mindspace Business Parks REIT

Mindspace Busine Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Mindspace Business Parks REIT

₹ 350 0.92%
15 May - close price
Company website BSE: 543217 NSE: MINDSPACE
About

Mindspace REIT is a Real Estate Investment Trust listed in India under the SEBI Real Estate Investment Trust Regulations, 2014. Mindspace REIT primarily holds interests in rental yielding commercial real estate assets (Grade-A office portfolio). It is incorporated as a registered Trust and listed through a public issue of units. The sponsor of Mindspace REIT is the K Raheja Corp Group. [1]

Key Points

K Raheja Corp Group
It is one of the real estate developers in India with presence across the entire real estate value chain, from acquiring land to developing and operating assets across offices, hospitality, malls, residential and retail segments. It has partnered with several marquee institutional investors including Blackstone, GIC among others. [1]

Website BSE NSE - RR
  • Market Cap ₹ 20,769 Cr.
  • Current Price ₹ 350
  • High / Low ₹ 369 / 296
  • Stock P/E 38.0
  • Book Value ₹ 239
  • Dividend Yield %
  • ROCE 6.53 %
  • ROE 3.77 %
  • Face Value ₹
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Pros

  • Company has been maintaining a healthy dividend payout of 245%

Cons

  • Company has a low return on equity of 2.94% over last 3 years.
  • Company might be capitalizing the interest cost
  • Promoters have pledged 49.6% of their holding.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Real Estate Investment Trusts Industry: Construction

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
442 421 424 441 474 485 684 559 570 593 638 608 619
132 90 97 94 116 120 310 153 165 168 183 162 178
Operating Profit 310 331 328 348 358 365 375 406 405 426 455 446 441
OPM % 70% 79% 77% 79% 76% 75% 55% 73% 71% 72% 71% 73% 71%
5 -130 4 2 56 11 4 6 -134 8 2 3 -32
Interest 61 60 63 66 75 72 83 90 98 107 115 116 119
Depreciation 71 74 74 84 86 85 86 92 92 93 98 98 94
Profit before tax 183 67 195 199 253 219 209 229 81 234 245 235 196
Tax % 31% 43% 33% 27% 47% 41% 58% 45% 142% 42% 39% 38% 35%
127 38 130 146 134 128 87 126 -34 137 150 147 127
EPS in Rs 1.93 0.70 2.03 2.30 2.13 1.99 1.33 1.95 -0.49 2.15 2.38 2.32 2.00
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
1,432 0 1,138 1,761 2,298 2,459
419 5 300 385 744 691
Operating Profit 1,013 -5 838 1,376 1,553 1,768
OPM % 71% 74% 78% 68% 72%
260 0 22 -68 -116 -18
Interest 446 0 171 264 343 457
Depreciation 220 0 209 329 355 383
Profit before tax 607 -5 479 714 738 911
Tax % 15% 0% 30% 37% 58% 38%
515 -5 335 447 308 561
EPS in Rs 5.18 7.15 4.78 8.85
Dividend Payout % 0% 0% 185% 134% 385% 216%
Compounded Sales Growth
10 Years: %
5 Years: 11%
3 Years: 29%
TTM: 7%
Compounded Profit Growth
10 Years: %
5 Years: 3%
3 Years: 21%
TTM: 66%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: 7%
1 Year: 8%
Return on Equity
10 Years: %
5 Years: 3%
3 Years: 3%
Last Year: 4%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 50 0 16,284 16,284 16,284 16,284
Reserves 1,581 -5 19 -663 -1,501 -2,115
Preference Capital 103 0 0 0 0
6,059 0 3,774 4,461 5,466 6,986
1,442 5 2,169 2,205 2,427 2,690
Total Liabilities 9,132 0 22,246 22,287 22,676 23,845
6,052 0 21,199 21,223 21,431 21,973
CWIP 2 0 2 0 0 0
Investments 1 0 2 2 3 3
3,077 0 1,043 1,061 1,242 1,868
Total Assets 9,132 0 22,246 22,287 22,676 23,845

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
934 0 798 1,162 1,393 1,526
-586 0 853 -456 -751 -1,459
-356 0 -1,504 -754 -456 -164
Net Cash Flow -8 0 146 -48 186 -96

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 8 7 4 9 16
Inventory Days
Days Payable
Cash Conversion Cycle 8 7 4 9 16
Working Capital Days 346 -250 -137 -93 -71
ROCE % -0% 6% 5% 6%

Shareholding Pattern

Numbers in percentages

2 Recently

Shareholding pattern is currently not available for this company.

Documents

Announcements

Annual reports

Credit ratings

Concalls