Mindspace REIT net operating income increases 16% in Q2

17 Nov 2022 CW Team

Mindspace REIT released its Q2FY23 results. In Q2 FY23, the company's net operating income (NOI) growth increased by 16 per cent Y-o-Y to Rs 410 million. In H1 FY23, the company also reported NOI of Rs 8.18 billion. Over 80 per cent of the NOI margin was still present.

The company's debt-to-market value was 16.8 per cent, while the portfolio's gross asset value rose to Rs 270 million in March 2022, a 3.3 per cent increase.

In Q2FY23, the company reported gross lease of about 1.3 million sq ft, bringing the total for H1 FY23 to 2.1 million square feet. While the in-place rentals increased by 8.7 per cent Y-o-Y to Rs 63 per sq ft per month, the re-leasing spread in Q2 stood at 22.3 per cent on 0.8 msf of area re-let.

Also read:
Hyderabad sees registration of homes worth Rs 22.37 bn in Oct
Godrej Properties set to buy 50-acre parcel at Palghar

Infrastructure Transport

06 Aug 2026

Surya Roshni delivers customised lighting for NCRTC RRTS stations

Surya Roshni has supplied customised indoor lighting solutions for 18 elevated stations on the National Capital Region Transport Corporation's (NCRTC) Rapid Rail Transit System (RRTS), strengthening its presence in India's infrastructure lighting segment.The project involved the design and deployment of lighting systems for platforms, concourses, foot overbridges (FOBs) and back-of-house (BOH) areas. According to the company, the luminaires were developed specifically to meet NCRTC's design, operational and performance requirements rather than using standard products.Surya introduced two custo..

Hilton debuts Tapestry Collection brand in Vietnam

Hilton has opened NHAAN Resort & Spa Hoi An, Tapestry Collection by Hilton, marking the debut of the Tapestry Collection brand in Vietnam and expanding its lifestyle hospitality portfolio in Southeast Asia.Located along the Co Co River in Cam Thanh village, the 174-key resort provides access to Hoi An Ancient Town, Cua Dai Beach and the Cam Thanh Nipa Forest. The property has been designed by Vietnamese architect Vo Trong Nghia, incorporating biophilic architecture, locally sourced materials and riverfront landscapes.The resort offers a mix of guest rooms and suites, including family-frien..

Electrent expands lithium energy storage system portfolio

Electrent Energy has expanded its lithium-based energy storage portfolio with the launch of the ESS 850 and ESS 1050, targeting compact and maintenance-free power backup solutions for Indian homes.The new systems integrate a Home UPS and a LiFePO4 lithium battery into a single unit, extending the company's product range following the launch of its ESS 1350 and ESS 2500 models.Designed for apartments and smaller homes, the ESS 850 provides up to 1 hour 15 minutes of backup, while the ESS 1050 offers up to 1 hour 45 minutes on a typical 400 W household load. The systems can power essential appli..