mindspace business parks reit delivered its strongest financial performance to date in FY26, driven by significant portfolio expansion and high occupancy rates across its integrated business parks. The REIT reported a net operating income (NOI) of ₹2,663 crore, representing a 29.2% increase year-on-year, while revenue from operations rose 26.2% to ₹3,234 crore. This operational strength enabled the declaration of a distribution of ₹24.09 per unit, marking the highest payout since listing and a 15.6% increase over the prior year. These figures were presented to unitholders during the 6th Annual Meeting held on July 24, 2026, via video conferencing.

The meeting proceedings were conducted in accordance with Regulation 23 of the Securities and Exchange Board of India (Real Estate Investment Trusts) Regulations, 2014. K Raheja Corp Investment Managers Private Limited, acting as the Manager, facilitated remote e-voting through KFin Technologies Limited, with Chandrasekaran Associates serving as the scrutinizer. A total of 49 unitholders representing 19,17,72,826 units, or 28.97% of the total voting capital, participated in the meeting. The statutory auditors, Deloitte Haskins & Sells LLP, confirmed that their report for the financial year ended March 31, 2026, contained no qualifications or adverse observations.

Financial and Portfolio Highlights

The REIT’s financial results reflect strong underlying asset performance and effective leverage management. The net asset value (NAV) per unit stood at ₹527, up 22% year-on-year. Total returns, including distributions, reached 29% for the period from April 1, 2025, to March 31, 2026, with the unit price moving from ₹367 to ₹449. The loan-to-value (LTV) ratio remained conservative at 24.3%, with a cost of debt of 7.41% per annum.

Portfolio Composition and Growth

As of March 31, 2026, Mindspace REIT managed a total leasable area of 44.4 million square feet (msf), with a gross asset value of ₹476 billion. The portfolio is diversified across four key markets: Hyderabad (38.4%), Mumbai Region (34.7%), Chennai (14.2%), and Pune (12.8%). Hyderabad remains the largest contributor by market value at ₹202 billion, followed by Mumbai at ₹174 billion. The REIT maintains a weighted average lease expiry (WALE) of 7.2 years and an in-place rent of ₹80.4 per square foot.

Strategic acquisitions post-March 31, 2026, including Commerzone Pallikaranai and One Radial™ in Chennai, have further expanded the footprint. Additionally, the REIT continues to develop data center infrastructure, with 1.7 msf pre-leased across five data centers, positioning it as the only listed Indian REIT with such assets in its portfolio.

Governance and Auditor Appointment

Unitholders approved several key resolutions during the meeting. Notably, they appointed M/s B S R & Co. LLP as the Statutory Auditors for a period of five consecutive years, covering financial years 2027-28 through 2031-32. The Board also approved the valuation report issued by M/s KZEN Valtech Private Limited and appointed Mr. Vijay Arvindkumar C as the valuer for the REIT. Deepak Ghaisas, Independent Director and Chairperson of the Board, presided over the meeting, which concluded at 4:12 P.M. IST after e-voting procedures were completed.

Mindspace Business Parks REIT will host a conference call on August 6, 2026, at 4:00 PM IST to discuss its financial performance for the quarter ended June 30, 2026. The event follows a Board meeting held on August 5, 2026, where K Raheja Corp Investment Managers Private Limited, acting as the Manager, considered the unaudited standalone and consolidated financial results. The Board also deliberated on the declaration of distributions to unitholders for the quarter. This schedule provides investors with timely access to management commentary on the REIT’s operational and financial health for Q4FY26.

The Manager convened the Board meeting in compliance with Regulation 50 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, and the Securities and Exchange Board of India (Real Estate Investment Trusts) Regulations, 2014. During the session, the Board took on record the draft limited review reports issued by the Statutory Auditors regarding the financial results. These procedural steps ensure that the financial data presented to investors has undergone independent verification before public dissemination.

Unitholders are advised that the Record Date for the distribution, if approved and declared by the Board, is Saturday, August 8, 2026. This date determines which investors are eligible to receive the payout based on their holdings in Mindspace Business Parks REIT units. The payment of the distribution is proposed to be made on or before Friday, August 14, 2026. Investors holding units prior to the close of business on the day preceding the record date will be entitled to the declared amount.

Conference Call Details

Participants can join the conference call using the global dial-in details provided by the company. Pre-registration is available for quick access to the call. After the live session concludes, a playback of the call will be hosted on the Investor Relations section of the Mindspace Business Parks REIT website. Additionally, the transcript of the conference call will be uploaded to the same location for reference.

The disclosure was issued on July 24, 2026, by Mridul Gupta, Company Secretary and Compliance Officer of K Raheja Corp Investment Managers Private Limited. The notice was submitted to both The National Stock Exchange of India Limited and BSE Limited, ensuring broad market awareness of the upcoming financial communication events.