Mindspace Business Parks REIT Reports 29.2% NOI Growth in FY26, Plans 15,700 Cr Fund Raise

New Delhi, April 30, 2026: Mindspace Business Parks REIT has reported a strong financial performance for FY26, with net operating income (NOI) rising 29.2% year-on-year to 2,663.6 crore, driven by robust leasing activity and rental growth across its portfolio.

Strong Quarterly Performance

In Q4 FY26, the REIT posted NOI of 741.9 crore, marking a 37.4% YoY increase. Net profit for the full year also rose significantly, with PAT growing 35.1% to 694.25 crore.

Higher Asset Value and Leasing Momentum

• Net Asset Value (NAV): 527.01 per unit (up 9%)
• Gross Asset Value (GAV): 476 billion (up 16.1%)
• FY26 leasing: 7.13 million sq ft
• Q4 leasing: 3.5 million sq ft

The REIT also recorded strong re-leasing spreads, indicating rising rental demand in key office markets.

15,700 Crore Fundraising Plan

The board has approved raising up to 15,700 crore through debt instruments, including non-convertible debentures and commercial papers, to support future growth and acquisitions.

The company maintained a loan-to-value (LTV) ratio of 24.3%, keeping leverage within regulatory limits.

Investor Returns

Mindspace REIT declared a distribution of 6.64 per unit for the quarter ending March 31, 2026, totaling 430.5 crore. This includes dividends, interest income, and debt repayment components.

Expansion and Acquisitions

The REIT continues to expand its footprint, recently acquiring:

• 100% stake in Commerzone Pallikaranai
• 51% stake in International Tech Park Chennai – Radial Road

These acquisitions are expected to strengthen its presence in Chennai and boost long-term growth.

Outlook

With a strong leasing pipeline, rising rentals, and planned capital raise, Mindspace REIT remains well-positioned to benefit from sustained demand for Grade-A office spaces in India.