Mindspace REIT to pay Rs 431 cr to unitholders for Jan-Mar, NOI up 37pc to Rs 742cr

Realty firm Mindspace Business Parks REIT on Wednesday declared a distribution of Rs 431 crore to unitholders for the quarter ended March, a 10 per cent annual growth. Ramesh Nair, MD CEO, Mindspace REIT, said, FY26 was a very strong year across every metric - occupancy, leasing, NOI growth and distributions.

Realty firm Mindspace Business Parks REIT on Wednesday declared a distribution of Rs 431 crore to unitholders for the quarter ended March, a 10 per cent annual growth. The company had distributed Rs 392 crore in the year-ago period. Its net operating income (NOI) rose 37.4 per cent to Rs 742 crore during January-March from Rs 540 crore in the corresponding period of the preceding year, according to a regulatory filing. During the last fiscal, the NOI increased 29.2 per cent annually to Rs 2,664 crore. Ramesh Nair, MD & CEO, Mindspace REIT, said, ''FY26 was a very strong year across every metric - occupancy, leasing, NOI growth and distributions. As seen in Hyderabad, large tenants are committing early and that is the clearest signal of market confidence.'' The business is in very good shape and the company remain focused on execution, he added. The company recorded gross leasing of 3.5 million sq ft in the fourth quarter, taking cumulative leasing for FY26 to 7.13 million sq ft. Mindspace Business Parks REIT, sponsored by K Raheja Corp group, owns office assets in Mumbai Region, Pune, Hyderabad, and Chennai.