Mindspace REIT Reports Strong Q1 FY26 with 24% NOI Growth

06 Aug 2025 CW Team

Mindspace Business Parks REIT (NSE: MINDSPACE | BSE: 543217), a leading owner and developer of Grade A office spaces in India, has announced strong results for the quarter ended 30 June 2025. The REIT reported a 24.2 per cent year-on-year increase in Net Operating Income (NOI) to approximately Rs 616 crore, supported by robust leasing activity, increasing rents, and high occupancy levels. Committed occupancy reached 93.7 per cent, while gross leasing totalled approximately 1.7 million sq. ft.

Mindspace REIT declared a quarterly distribution of approximately Rs 353 crore, with a Distribution per Unit (DPU) of Rs 5.79, marking a 14.9 per cent year-on-year growth. The trust also concluded its first third-party acquisition outside its core portfolio with the Rs 512 crore purchase of Q-City in Hyderabad, now rebranded as ‘The Square, 110 Financial District’.

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