Mindspace Business Parks Reit · NSE:MINDSPACE.RR
Mindspace Business Parks Reit — Investor Presentation (April 2025)
24 slides from Mindspace Business Parks Reit's investor presentation, Apr 10, 2025
Slide 1: Corporate Presentation
Corporate Presentation mindspacereit.com 1
Slide 2: Disclaimer
Disclaimer By attending the meeting where this presentation (“Presentation”) is made, or by reading the Presentation materials, you agree to be bound by the following limitations: This Presentation (a) is for information purposes only without regards to specific objectives, financial situations or n
Slide 3: Mindspace Business Parks REIT Portfolio Overview
Mindspace Business Parks REIT Portfolio Overview One of the largest Grade-A office portfolios in India 36.9 msf INR Bn 338 INR 228 bn INR15,218 Mn(4) Total Leasable Area (1) Assets under Management (2) Market capitalization(3) NOI in 9M FY25 Presence in 4 out of top 6 Indian office markets o Sponsor
Slide 4: Delivered Robust Performance
Delivered Robust Performance Cumulative distribution of INR 81.8 p.u. since listing 21.9% c. 20 msf (1) Releasing Spread on Gross Leasing 13.1 msf INR 48.5 Bn 13.0 % Total distribution(3) Annualized returns(7) 2.7 msf 91.6%. Delivered New Committed Developments Occupancy (5) 6.6% CAGR 25.9 % Loan to
Slide 5: Five Integrated Business Parks
Five Integrated Business Parks Mindspace Madhapur Mindspace Airoli East Hyderabad | 13.5 msf (1) Mumbai Region | 7.2 msf Completed Area: 9.9 msf; Committed Occupancy: 95.4% Completed Area: 4.9 msf; Committed Occupancy: 78.4% Mindspace Airoli West Gera Commerzone Kharadi Commerzone Yerwada Mumbai Reg
Slide 6: Six Quality Independent Office Assets
Six Quality Independent Office Assets Commerzone Raidurg Commerzone Porur Paradigm, Mindspace Malad Hyderabad | 1.8 msf Chennai | 1.1 msf Mumbai Region | 0.8 msf Completed Area: 1.8 msf Completed Area: 1.1 msf Completed Area: 0.8 msf; Committed Occupancy: 100% Committed Occupancy: 100.0% Committed O
Slide 7: Diversified Portfolio of Marquee Tenants
Diversified Portfolio of Marquee Tenants (1) Top 10 tenants contributing 32.5% (Dec-24) vs. 28.8% (Sep-24) Diversified tenant mix across sectors Top 10 tenants Gross Contracted Rentals contribution (32.5%) (1) (1) % split by Gross Contracted Rentals % of total Gross Contracted Rentals # of parks Man
Slide 8: Key Highlights: Q3FY25
Key Highlights: Q3FY25 mindspacereit.com 8
Slide 9: Q3 FY25: Strong Operational Performance driving Financial Growth
Q3 FY25: Strong Operational Performance driving Financial Growth 1.7 msf (1) Robust Gross Leasing incl. pre-leasing 4.9 msf 9M Gross Leasing ; highest leasing in a year (2) c. 1.0 msf Pre-leased c. 1msf in Kharadi, Pune to renowned GCC 8.3%Y-o-Y NOI growth Y-o-Y (3) c. INR 3.2 Y-o- Bn Distribution u
Slide 10: Stable Leasing Activity Sustains High Occupancy Rates
Stable Leasing Activity Sustains High Occupancy Rates Key Operating Indicators Q3 FY25 9M FY25 Gross Leasing 1.7 msf (1) 4.9 msf (2) Re-leased Area 0.2 msf 1.4 msf New and Vacant Area Leased 0.5 msf 1.4 msf Re-leasing Spread(3) 26.4 % 25.9 % on 0.5 msf on 2.5 msf Average Rent for Area Leased INR 76
Slide 11: Financial Performance Supported by Rising Organic Cash Flows
Financial Performance Supported by Rising Organic Cash Flows Key Financial Indicators Q3 FY25 (Y-o-Y) 9M FY25 (Y-o-Y) Figures in INR Mn Revenue from Operations(1)(2) 6,419 7.6% 18,847 8.0% Net Operating Income(1)(2) 5,218 8.3% 15,218 7.5% Distribution 3,155 10.9% 9,198 7.8% DPU 5.3 p.u 10.9% 15.5 p.
Slide 12: Modern and Sustainable workplaces attracting occupiers
Modern and Sustainable workplaces attracting occupiers High Quality Portfolio with 7 out of 10 parks(1) achieving > c.96% committed occupancy levels 100% 100% 100% 100% 98.6% 95.4% 100% Gera The Square Commerzone The Square Mindspace Mindspace Commerzone Commerzone Nagar Road Raidurg(2) BKC Malad Ma
Slide 13: Our Growth Drivers
Our Growth Drivers mindspacereit.com 13
Slide 14: Organic development to drive the next phase of growth
Organic development to drive the next phase of growth c.4.6 msf area under development is estimated to complete over next 3-4 years Commerzone Kharadi Mindspace Airoli East Building 4 (~1.0 msf) Highstreet (~0.05 msf) Estimated Completion – Q4 FY25 Completed (Part OC received) Mindspace Madhapur Min
Slide 15: Re-energizing Parks
Re-energizing Parks mindspacereit.com 15
Slide 16: Dynamic Environment, Vibrant Workspaces
Dynamic Environment, Vibrant Workspaces mindspacereit.com 16
Slide 17: Infusing modern design elements to elevate entry experience
Infusing modern design elements to elevate entry experience Tailoring common areas to meet the evolving preferences of tenants mindspacereit.com 17
Slide 18: Attracting Millennial Workforce of India
Attracting Millennial Workforce of India Amenities and high safety standards within our parks make us the partner of choice for occupiers Landscaped podiums Amphitheatre & lobby areas Club house and play area Biophilic landscaped gardens mindspacereit.com 18
Slide 19: Experience Center: An Inclusive Ecosystem for all Lifestyle & Business Needs
Experience Center: An Inclusive Ecosystem for all Lifestyle & Business Needs Enhancing the Mindspace offering with a modern club facility with top notch amenities c. 130 ksf Exclusive and premium space Perspective Offers enriching entertainment, sports, lifestyle, recreation and dining experiences m
Slide 20: Annexure
Annexure mindspacereit.com 20
Slide 21: Key Financial Metrics
Key Financial Metrics Delivered consistent growth on key financial metrics Revenue (INR bn) NOI (INR bn) (1,3) 6.4 6.0 6.2 6.2 6.0 6.0 5.9 5.5 5.2 4.9 4.8 5.0 5.0 0.12(2) 5.0 0.12 (2) (0.09)(2) 4.8 5.9 5.6 4.5 4.8 4.7 4.5 4.0 3.5 3.0 Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY24 Q1 FY25 Q2 FY25 Q3 FY25 Q1 FY24 Q2
Slide 22: Low Leverage Offers Balance Sheet Headroom for Future Growth
Low Leverage Offers Balance Sheet Headroom for Future Growth 22.6% INR 5,480 Mn 3.7 x ₹ 70,908Mn Net Debt to 8.07% 3.8 x Market Value Undrawn Committed Cost of Debt Interest Coverage Net Debt (1) Net Debt to EBITDA(5) 25.9% (Pro-forma LTV) Facilities (p.a.) Ratio(6) (1) Diversified debt Book with a
Slide 23: Unitholding Pattern as on 31st March 2025
Unitholding Pattern as on 31st March 2025 Unitholding Summary INR 228 bn 35.6% Market Cap(1) % Free- float 609 Mn units Unitholding Pattern (Market Cap : INR 228 Bn) (1) AIF MF NIIs 0.5% 5.2% 12.7% Insurance 3.7% DIIs Sponsors & Sponsor Public 3.0% Group (Others) Total 64.4% 35.6% FIIs Unitholders 1
Slide 24: Thank You
Thank You Investor Relations Enquiries: Nitin Garewal (Finance & Investor Relations) Email id: ir@mindspacereit.com mindspacereit.com 24
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