Mindspace REIT Q3 net at Rs140 cr, to distribute Rs283 cr to unitholders

Mindspace REIT

Mindspace Business Parks REIT on Wednesday reported a consolidated net profit of ?140 crore for the quarter ended December and declared a distribution of ?283.5 crore to unitholders.

The company, which got listed on the stock exchanges in August last year after raising ?4,500 crore through a public issue, had posted a net profit of ?68.4 crore in the previous quarter.

Total income rose to ?431.6 crore in the October-December period of this fiscal year from ?278 crore in the second quarter of 2020-21 financial year, according to a regulatory filing.

Mindspce declared a distribution of ?283.5 crore, which is ?4.78 per unit, to its unitholders. This is the first distribution post listing.

Mindspace Business Parks REIT, sponsored by K Raheja Corp group, owns office portfolios located in four key office markets of India, namely Mumbai Region, Pune, Hyderabad and Chennai.

It has a total leasable area of 29.5 million square feet. The portfolio consists of five integrated business parks and five quality independent office assets. It has a diversified and high-quality tenant base, with 165 tenants as of December 31, 2020.

News Source:- livemint

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