Mindspace REIT Reports Strong FY26 Performance

30 Apr 2026 CW Team

Mindspace Business Parks REIT reported a strong performance for Q4 FY26 and FY26, supported by robust leasing activity, rising occupancy and improved financial metrics across its portfolio.

Portfolio committed occupancy increased by 1.2 per cent QoQ to 95.7 per cent, while the REIT achieved gross leasing of 3.5 million sq ft in Q4 FY26 and 7.1 million sq ft for the full year. Pre-leasing remained strong, with nearly 2.0 million sq ft secured at Mindspace Madhapur, Hyderabad, reflecting sustained demand from global occupiers.

Revenue from operations rose 31.0 per cent YoY to Rs 8.88 billion in Q4 FY26, while net operating income (NOI) grew 37.4 per cent YoY to Rs 7.42 billion. For FY26, NOI increased 29.2 per cent YoY to Rs 26.64 billion.

The REIT declared its highest quarterly distribution of Rs 6.64 per unit, with total distribution at Rs 4.31 billion for Q4 FY26. Net asset value rose 9 per cent to Rs 527 per unit, while gross asset value stood at Rs 476.35 billion.

Operationally, the portfolio recorded strong re-leasing spreads of 40.3 per cent in Q4 FY26 and 31.8 per cent for FY26, with in-place rents at Rs 80.4 per sq ft per month. The REIT continues to advance its 5.4 million sq ft development pipeline.

The company also progressed on strategic acquisitions worth Rs 55.41 billion, strengthening its presence in Chennai and expanding its footprint in key office markets.

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