Mindspace REIT Soars: High Occupancy, Lower Costs Boost Cash Flows
Earnings
C
CNBC TV18•29-01-2026, 16:05
Mindspace REIT Soars: High Occupancy, Lower Costs Boost Cash Flows
- •Mindspace Business Parks REIT reports strong rental and distribution growth, driven by high occupancy and reduced borrowing costs.
- •Managing Director Ramesh Nair highlights a 29% net operating income (NOI) growth and nearly 20% distribution growth.
- •Portfolio occupancy, excluding acquisitions, stands at 95.3%, with borrowing costs decreasing from 8.15% to 7.39%.
- •The REIT benefits from a 27% releasing spread and strong demand from Global Capability Centers (GCCs), which constitute 54% of its portfolio.
- •Future plans include ₹4,000 crore capital expenditure and expansion into data centers, leveraging large land parcels in Hyderabad and Navi Mumbai.
Why It Matters: Mindspace REIT's high occupancy, lower interest rates, and strong GCC demand are driving significant cash flow growth.
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