Mindspace Business Parks REIT

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

₹ 491 -0.53%
08 Oct - close price
mindspacereit.com 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. It's portfolio consists of high-quality Grade-A business campuses, independent office buildings, and state-of-the-art data centers.

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:[1]
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.

Website BSE NSE - RR
  • Market Cap ₹ 32,482 Cr.
  • Current Price ₹ 491
  • High / Low ₹ 526 / 441
  • Stock P/E 43.2
  • Book Value ₹ 273
  • Dividend Yield 2.40 %
  • ROCE 5.26 %
  • ROE 4.19 %
  • Face Value ₹ 485
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Pros

  • Company has been maintaining a healthy dividend payout of 178%

Cons

  • Tax rate seems low
  • Company has a low return on equity of 4.89% over last 3 years.
  • Promoters have pledged 47.6% 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

Consumer Discretionary Realty Realty Real Estate Investment Trusts (REITs)

Part of BSE Low Volatility Index Nifty Smallcap 500 Nifty REITs & Realty BSE Consumer Discretionary

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026 Jun 2026
341 346 357 357 100 292 286 280 289 317 305 373 388
4 5 4 6 4 6 5 8 7 8 7 9 8
Operating Profit 336 342 354 350 96 286 280 272 283 309 298 364 380
OPM % 99% 99% 99% 98% 96% 98% 98% 97% 98% 98% 98% 98% 98%
1 0 0 1 1 1 5 4 1 2 3 0 6
Interest 45 54 62 62 76 88 94 90 100 123 144 163 174
Depreciation 0 0 0 0 0 0 0 0 0 0 0 0 0
Profit before tax 292 288 293 289 21 198 191 186 183 188 156 202 212
Tax % 0% 0% 0% 0% 2% 0% 1% 1% 0% 1% 1% 0% 1%
292 288 292 289 21 198 189 184 182 187 155 201 209
EPS in Rs 4.93 4.86 4.93 4.87 0.35 3.34 3.18 3.03 2.99 3.06 2.54 3.10 3.15
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026 TTM
504 582 0 613 1,201 1,278 1,400 0 0 1,382
269 188 5 8 12 17 18 23 30 31
Operating Profit 236 395 -5 606 1,189 1,261 1,382 -23 -30 1,351
OPM % 47% 68% 99% 99% 99% 99% 98% 98% 98%
76 88 0 1 1 4 2 968 1,289 10
Interest 214 224 0 23 87 114 222 348 529 603
Depreciation 106 105 0 0 0 0 0 0 0 0
Profit before tax -9 154 -5 584 1,104 1,151 1,162 597 729 758
Tax % -372% 20% 0% 0% 0% 0% 0% 1% 1%
24 124 -5 583 1,103 1,149 1,161 592 725 751
EPS in Rs 9.84 18.60 19.38 19.58 9.71 11.18 11.85
Dividend Payout % 0% 0% 0% 97% 99% 98% 98% 224% 213%
Compounded Sales Growth
10 Years: %
5 Years: %
3 Years: %
TTM: 21%
Compounded Profit Growth
10 Years: %
5 Years: 4%
3 Years: -14%
TTM: 0%
Stock Price CAGR
10 Years: %
5 Years: 10%
3 Years: 16%
1 Year: 9%
Return on Equity
10 Years: %
5 Years: 6%
3 Years: 5%
Last Year: 4%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 0.08 0.08 0.00 16,284 16,284 16,284 16,284 16,582 17,697
Reserves 77 200 -5 295 292 320 343 46 -4
2,358 2,438 0 1,142 1,642 2,189 3,474 4,616 8,754
424 472 5 23 84 60 91 22 54
Total Liabilities 2,859 3,110 0 17,745 18,302 18,852 20,191 21,266 26,501
1,920 1,908 0 0 0 0 0 0 0
CWIP 0 0 0 0 0 0 0 0 0
Investments 1 1 0 15,310 15,310 15,310 15,410 16,225 18,046
938 1,201 0 2,434 2,992 3,542 4,781 5,041 8,455
Total Assets 2,859 3,110 0 17,745 18,302 18,852 20,191 21,266 26,501

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
0 -11 -12 -20 -15 -29 -37
0 -1,525 633 749 66 235 -2,030
0 1,829 -633 -712 -45 -482 2,161
Net Cash Flow 0 294 -12 17 5 -276 94
Free Cash Flow 0 -11 -12 -20 -15 -29 -37
CFO/OP 0% -2% -1% -1% -1% 105% 105%

Ratios

Standalone / View Consolidated

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 12 7 0 0 0 0
Inventory Days
Days Payable
Cash Conversion Cycle 12 7 0 0 0 0
Working Capital Days 392 463 -2 -0 -2 0
ROCE % 15% -0% 7% 7% 7% 7% 5% 5%

Insights

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Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Committed Occupancy
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Total Leasable Area
msf
In-place Rent
Rs psf per month
Re-leasing Spread
%
Weighted Average Lease Expiry (WALE)
Years
Gross Leasing
msf
Top 10 Tenants Share of Gross Contracted Rentals
%

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Shareholding Pattern

Numbers in percentages

1 Recently

Shareholding pattern is currently not available for this company.

Documents

Announcements

Annual reports

Credit ratings

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