Mindspace Business Parks REIT Shines with Impressive Q1 Financial Growth
Mindspace Business Parks REIT achieved a 24% increase in net operating income to Rs 616.4 crore in the first quarter. The distribution to shareholders rose by 18% to Rs 352.7 crore. The company achieved a 93.7% occupancy rate and reported a strong quarterly distribution per unit of Rs 5.79.
- Country:
- India
Mindspace Business Parks REIT has witnessed a remarkable 24 percent surge in net operating income, totaling Rs 616.4 crore, during the first quarter of the current fiscal year.
The company also announced an 18 percent hike in shareholder distribution, amounting to Rs 352.7 crore, for the April-June period. This growth is attributed to strategic acquisitions, rising rental incomes, and increasing occupancy rates.
Mindspace's properties span key cities like Mumbai, Pune, Hyderabad, and Chennai, boasting a committed occupancy of 93.7 percent. Recently, the company welcomed Sandeep Mathrani to its board, enhancing its management expertise.
(With inputs from agencies.)
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