Mindspace Business Parks REIT has achieved a significant milestone in its sustainability journey, securing the prestigious GRESB Sector Leader status for its outstanding Environmental, Social, and Governance (ESG) performance. This recognition underscores the REIT's commitment to sustainable real estate practices and its position as a leader in the industry.

Key Achievements

Mindspace REIT has demonstrated exceptional performance across various ESG metrics:

Sustainability Commitments

Mindspace REIT has set ambitious targets for the future:

• Net Zero emissions by 2042
• 42.00% GHG emissions reduction by FY2030 (aligned with SBTi 1.5°C pathway)
• 100.00% EV charging infrastructure and electric mobility by 2030 (EV100 commitment)

Leadership Perspective

Ramesh Nair, CEO & MD of Mindspace REIT, commented on the achievement: "We are happy to be recognized as a GRESB Sector Leader, a testament to our strong commitment to sustainability and responsible value creation. This achievement reflects the collective effort of our teams and stakeholders in embedding ESG principles across every aspect of our business."

Portfolio Overview

Mindspace REIT's portfolio includes:

• Total leasable area: 38.1 million square feet
• Completed area: 31.0 million square feet
• Area under construction: 3.7 million square feet
• Future development area: 3.4 million square feet

The REIT's assets comprise 5 integrated business parks and 6 independent office assets, serving approximately 223 tenants across key Indian office markets including Mumbai Region, Pune, Hyderabad, and Chennai.

Navi Mumbai Sustainability Partnership

Mindspace Business Parks REIT has joined as the Sustainability Partner for the 'Navi Mumbai Plastic and E-Waste Recyclothon' campaign. This initiative, launched by Navi Mumbai Municipal Corporation in collaboration with Project Mumbai, aims to engage 2 lakh citizens across 200+ locations to promote circular economy practices and responsible waste management.

The year-long campaign will focus on transforming collected plastic and e-waste into community assets such as benches, planters, and walking tracks. A key objective is the creation of Zero Waste Gardens. Employees from Mindspace's two business parks in Airoli will participate alongside local volunteers, further demonstrating the REIT's commitment to community engagement and sustainability.

CEO Ramesh Nair emphasized that sustainability is a competitive edge for the REIT, noting Navi Mumbai as an important growth market housing two of their largest business parks.

These recognitions and initiatives reinforce Mindspace REIT's position as a leader in sustainable real estate practices, demonstrating its commitment to creating value for stakeholders while prioritizing environmental stewardship and social responsibility.

Mindspace Business Parks REIT , a prominent player in the Indian real estate investment trust sector, has made significant financial moves, issuing new debentures worth INR 600 crore.

New Debenture Issuance

Mindspace REIT's Executive Committee has approved the allotment of new debentures. The REIT issued 60,000 listed, rated, secured, redeemable, non-convertible debentures. Each debenture has a face value of INR 1,00,000, bringing the total principal amount to INR 600 crore.

Key details of the new debentures include:

The debentures were allotted with a premium of INR 14.75 lakh above the face value.

Financial Strategy

This debenture issuance is part of a larger financial strategy approved by the Executive Committee. The committee has given approval to raise funds through debt securities up to INR 2,800 crore, which includes INR 1,800 crore previously approved.

This move by Mindspace REIT demonstrates a strategic approach to capital management. By issuing these debentures, the REIT is potentially looking to optimize its debt structure and may be seeking to take advantage of favorable interest rates.

The successful execution of this financial transaction underscores Mindspace REIT's strong position in the market and its ability to manage its capital structure effectively.