Mindspace Business Parks REIT has announced a significant pre-leasing arrangement for its Mindspace Madhapur campus in Hyderabad, marking a strategic expansion into luxury hospitality. The REIT has entered into an agreement with Chalet Hotels Limited for the development of a luxury hotel comprising c.5.3 lakh sq.ft. of leasable area.

Project Details and Investment

The luxury hotel development represents a substantial investment commitment with specific parameters outlined for execution:

The project will be undertaken through Mindspace REIT's Asset SPV, K. Raheja IT Park (Hyderabad) Limited (KRIT), with development subject to finalization of designs and requisite approvals.

Strategic Partnership Structure

The arrangement establishes a clear division of responsibilities between the partners to ensure execution efficiency. Under this structure, KRIT will develop and deliver the core and warm shell structure, while Chalet Hotels Limited will undertake all interior fit-outs and operationalization of the hotel and associated facilities.

Chalet Hotels Limited brings significant expertise as a leading owner, developer, asset manager and operator of high-end hotels in India, managing a portfolio of over 3,300 keys across marquee properties including JW Marriott Sahar Mumbai, The Westin Mumbai Powai Lake, The Westin Hyderabad Mindspace, and other premium hospitality assets.

Campus Integration and Ecosystem Enhancement

The Mindspace Madhapur campus represents Hyderabad's largest Grade A integrated business campus, spanning over 13 million square feet of premium IT/ITeS office space. The campus currently features:

• Two existing Westin-branded hotels
• Inorbit Mall for retail offerings
• Housing for more than 100,000 professionals
• Integrated 'work-stay-meet' ecosystem

The upcoming development will serve as the third on-campus hotel, further deepening the integrated ecosystem and supporting business travel, client engagements, and corporate events within the campus environment.

Strategic Value and Diversification

According to Ramesh Nair, CEO and MD of K Raheja Corp Investment Managers Private Limited, the development reflects the company's strategy of creating long-term value by strengthening ecosystems within existing business parks through high-quality, complementary uses. The initiative aims to enhance the attractiveness of Mindspace Madhapur for occupiers while providing meaningful revenue visibility through the long-tenure structure with built-in escalations.

The project also represents an opportunity for Mindspace REIT to further diversify its tenant mix across various sectors including GCCs, ITES sectors spanning Technology, Pharma, Oil and Gas, Data Centres, and Hotels, reinforcing the park's long-term competitiveness and premium positioning.

Mindspace Business Parks REIT has formally notified stock exchanges about the successful hosting of its flagship sustainability marathon, Mindspace EcoRun 2.0, through a Regulation 30 filing. The event, held on February 22, 2026, at Mindspace Madhapur, Hyderabad, attracted over 4,200 runners and was organized in partnership with Mirchi.

Stock Exchange Notification

The REIT filed the mandatory disclosure with both the National Stock Exchange of India Limited and BSE Limited, informing about the second edition of the sustainability-themed marathon. The filing was signed by Bharat Sanghavi, Company Secretary and Compliance Officer, on behalf of K Raheja Corp Investment Managers Private Limited, acting as Manager to Mindspace Business Parks REIT.

Event Overview and Participation

The marathon offered three race categories to accommodate participants across different age groups and fitness levels. The event created an inclusive celebration of fitness and community spirit, drawing participation from seasoned runners, first-timers, families, and corporate teams.

The atmosphere was enhanced by Mirchi RJs and celebrity attendees including Divi Vadthya, Harsh Roshan, and Sridevi Apalla, who flagged off the run.

Sustainability Initiatives

True to its environmental focus, Mindspace EcoRun 2.0 incorporated several eco-conscious features designed to minimize environmental impact. The event featured plantable bibs for participants, organic jerseys as part of race kits, refillable hydration stations throughout the course, and biodegradable cutlery for breakfast service.

A significant highlight of this year's edition is the commitment to upcycle event waste into functional chairs, which will be donated to school children associated with NGO partner Nirmaan.

Pre-Event Activities and Community Impact

The main event was preceded by the Mindspace EcoRun Expo held on February 20 and 21, featuring a Sustainability Flea Market. This initiative showcased eco-friendly products while creating livelihood opportunities for specially-abled individuals and women from underprivileged communities through partnership with NGO Nirmaan.

Leadership Perspective

Shrawan Kumar Gone, Chief Executive Officer of K.Raheja IT Park (Hyderabad) Limited, emphasized the event's broader significance: "Mindspace EcoRun 2.0 reflects our continued commitment to integrating sustainability into every aspect of our developments. Beyond being a marathon, this initiative demonstrates how large-scale community engagement can drive measurable environmental and social impact."

About Mindspace Business Parks REIT

Mindspace Business Parks REIT, sponsored by K Raheja Corp group and listed in August 2020, operates one of the largest Grade-A office portfolios globally. The REIT's portfolio spans four key Indian office markets with over 275 tenants across 5 integrated business parks and 9 independent office assets.

The portfolio consists of properties primarily certified as Gold or Platinum Green Buildings under IGBC/LEED standards, reinforcing the company's commitment to sustainable development practices.