Mindspace Business Parks REIT recorded gross leasing of 1.3 million square foot (msf) in the third quarter of the ongoing financial year, the company said on january 31, 2023. While announcing the financial results for the Q3FY23 ended on December 31, 2022, the company said that its cumulative leasing for the nine months of the fiscal year stands at 3.5 msf.
The firm achieved net operating income growth of 16.8% YoY and 4.6% QoQ in Q3 FY23. Its committed occupancy in the first 9 months of FY23 improved by 400 basis points from 84.3% in April 2022 to 88.3% in December 2022.
Vinod Rohira, CEO, Mindspace Business Parks REIT, said, “Our strong performance further instils confidence to bring forward strategic supply and pursue another value accretive redevelopment opportunity in one of India’s top-performing micro-markets. Our well-curated offerings and strong brand equity, enable us to deliver long-term sustainable growth for our unitholders.”
Mindspace REIT is the owner and developer of Grade-A office portfolio located in four cities of India. It was the first Indian Reit to issue commercial papers and successfully raise Rs 100 crore.
