Mindspace Business Parks REIT

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

Mindspace Business Parks REIT

₹ 342 -0.29%
19 Apr - close price
Company website BSE: 543217 NSE - RR : 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 ₹ 20,279 Cr.
  • Current Price ₹ 342
  • High / Low ₹ 365 / 296
  • Stock P/E 51.2
  • Book Value ₹ 242
  • Dividend Yield %
  • ROCE 5.72 %
  • ROE 2.17 %
  • Face Value ₹
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Pros

  • Company has been maintaining a healthy dividend payout of 235%

Cons

  • Company has a low return on equity of 2.81% 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

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
432 442 421 424 441 474 485 684 559 570 593 638 608
99 132 90 97 94 116 120 310 153 165 168 183 162
Operating Profit 332 310 331 328 348 358 365 375 406 405 426 455 446
OPM % 77% 70% 79% 77% 79% 76% 75% 55% 73% 71% 72% 71% 73%
1 5 -130 4 2 56 11 4 6 -134 8 2 3
Interest 60 61 60 63 66 75 72 83 90 98 107 115 116
Depreciation 81 71 74 74 84 86 85 86 92 92 93 98 98
Profit before tax 192 183 67 195 199 253 219 209 229 81 234 245 235
Tax % 27% 31% 43% 33% 27% 47% 41% 58% 45% 142% 42% 39% 38%
140 127 38 130 146 134 128 87 126 -34 137 150 147
EPS in Rs 2.20 1.93 0.70 2.03 2.30 2.13 1.99 1.33 1.95 -0.49 2.15 2.38 2.32
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
1,432 0 1,138 1,761 2,298 2,409
419 5 300 385 744 677
Operating Profit 1,013 -5 838 1,376 1,553 1,732
OPM % 71% 74% 78% 68% 72%
260 0 22 -68 -116 -121
Interest 446 0 171 264 343 435
Depreciation 220 0 209 329 355 381
Profit before tax 607 -5 479 714 738 796
Tax % 15% 0% 30% 37% 58%
515 -5 335 447 308 400
EPS in Rs 5.18 7.15 4.78 6.36
Dividend Payout % 0% 0% 185% 134% 385%
Compounded Sales Growth
10 Years: %
5 Years: %
3 Years: %
TTM: 9%
Compounded Profit Growth
10 Years: %
5 Years: %
3 Years: 311%
TTM: -4%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: 5%
1 Year: 8%
Return on Equity
10 Years: %
5 Years: %
3 Years: 3%
Last Year: 2%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 50 0 16,284 16,284 16,284 16,284
Reserves 1,581 -5 19 -663 -1,501 -1,802
Preference Capital 103 0 0 0 0
6,059 0 3,774 4,461 5,466 6,407
1,442 5 2,169 2,205 2,427 2,632
Total Liabilities 9,132 0 22,246 22,287 22,676 23,520
6,052 0 21,199 21,223 21,431 21,864
CWIP 2 0 2 0 0 0
Investments 1 0 2 2 3 3
3,077 0 1,043 1,061 1,242 1,652
Total Assets 9,132 0 22,246 22,287 22,676 23,520

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

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

Ratios

Consolidated Figures in Rs. Crores / View Standalone

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

Shareholding Pattern

Numbers in percentages

Shareholding pattern is currently not available for this company.

Documents

Announcements

Annual reports

Credit ratings

Concalls