+
Mindspace REIT net operating income increases 16% in Q2
Real Estate

Mindspace REIT net operating income increases 16% in Q2

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

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

Next Story
Infrastructure Energy

Tata Power, Suzlon Ink Rs 60 Billion Wind Energy Deal in Andhra

Tata Power has signed an agreement with Suzlon Energy to develop, construct, and supply 700 megawatt (MW) wind turbines in Andhra Pradesh. The Rs 60 billion project forms part of a 7 gigawatt (GW) renewable energy plan announced by Tata Power Renewable Energy (TPREL) and the state government in March 2025.This marks the first wind energy project in the state since 2019. The larger 7 GW programme, covering solar, wind, and hybrid projects with or without storage, is expected to attract investments of around Rs 490 billion, making it one of the state’s largest clean energy commitments.The turb..

Next Story
Infrastructure Transport

Odisha Approves Rs 12.6 Billion For 32 New Bridges

Odisha is set for a major infrastructure boost with the approval of 32 new bridges under the Setu Bandhan Yojana for FY 2025–26. The project, valued at Rs 12.6 billion, is aimed at improving road connectivity across ten districts, enhancing mobility and driving local development.The bridges will be constructed in Bolangir, Subarnapur, Nayagarh, Sambalpur, Malkangiri, Bargarh, Koraput, Jagatsinghpur, Cuttack, and Puri. Many of these areas are rural or located in difficult terrains, where improved accessibility will greatly benefit the transportation of goods and public mobility.Setu Bandhan Y..

Next Story
Infrastructure Transport

UP Plans Rs 350 Billion Gorakhpur–Shamli Expressway

Uttar Pradesh is preparing to build its largest expressway, a 700-km six-lane project that will surpass the 570-km Ganga Expressway from Meerut to Prayagraj. Designed as a greenfield project, the Gorakhpur–Shamli Expressway will cut travel time between eastern and western Uttar Pradesh to just six hours, transforming regional connectivity.The expressway will pass through 22 districts and 37 tehsils, bringing faster travel and significant economic benefits, including higher land values for farmers and employment opportunities during and after construction. A drone survey to map the route is e..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?