Mindspace Business Parks Reit · NSE:MINDSPACE.RR
Mindspace Business Parks Reit — Non-Deal Roadshow (June 2026)
37 slides from Mindspace Business Parks Reit's roadshow presentation, June 2026
Slide 1: Investor Presentation
Investor Presentation June 2026
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: Loved Workspaces, Maximizing Value.
Loved Workspaces, Maximizing Value.
Slide 4: Here Today – Management Team
Here Today – Management Team Ramesh Nair Govardhan Gedela MD & CEO Head – Corporate Finance and Investor Relations Experience Experience • 27 years experience in Commercial Real • 16+ years experience including 12 years of Estate association with K Raheja Corp Group • Ex India CEO and Asia Pacific B
Slide 5: Sponsor Pedigree
Sponsor Pedigree
Slide 6: K Raheja Corp Group – Strong Foothold Across All Verticals Of Real Estate
K Raheja Corp Group – Strong Foothold Across All Verticals Of Real Estate Experience of operating 3 listed entities Shoppers Stop, Chalet Hotels & Mindspace REIT with a cumulative M.Cap of US$ c.5.3Bn Office Hospitality Malls Residential Retail c. 64 msf Portfolio(1) 7 shopping Centers(3) 30+ msf(4)
Slide 7: Steady Growth Across Key Office Markets
Steady Growth Across 4 Key Office Markets Portfolio Growth (Cumulative estimated completions) 2026 2030(2) Building one of the REIT largest office 44.4 msf portfolios in India Pune Hyderabad 64 (1) c. msf est. completion 2030 5.7 11.6 14.4 22.2 msf msf msf msf REIT 36.0 msf c. 42 msf Mumbai Chennai
Slide 8: Mindspace REIT
Mindspace REIT
Slide 9: Key Investment Highlights
Key Investment Highlights 01 Benefiting from demand tailwinds 02 High quality portfolio 03 Strong and stable performance 04 Growth in portfolio size & visible pipeline 05 Disciplined capital allocation 9 mindspacereit.com
Slide 10: Portfolio Overview
Portfolio Overview 44.4msf 95.7% US$ 5.4 Bn US$ 3.2 Bn Portfolio Area (1) Committed Assets Under Market Cap (4) Occupancy Management (3) Proforma occupancy post Chennai acquisitions in Q1 FY27 – 91.9% (2) c.US$ 280 Mn US$ 158 Mn 24.3 % INR 527 p.u. Net Operating Distribution Loan to Value Net Asset
Slide 11: Managing c.$5.4 Bn in AUM across Key Office Markets
Managing c.$5.4 Bn (1) in AUM across 4 Key Office Markets Located strategically in established office micro-markets Presence in Worli, BKC Presence in & Navi Mumbai Madhapur & markets 44.4 msf Total Leasable Area (1) Financial District micro-market Mumbai Region Hyderabad 15.4 msf 17.1 msf ` Mumbai
Slide 12: Seven Integrated Business Parks
Seven Integrated Business Parks Mindspace Madhapur Mindspace Airoli East Mindspace Airoli West Hyderabad | 13.8msf (1) Mumbai Region | 7.4 msf Mumbai Region | 6.5msf (Inc Datacenter of 1.7msf) Completed Area: 10.1 msf; Committed Occupancy: 98.9% Completed Area: 5.0 msf; Committed Occupancy: 83.1% Co
Slide 13: Nine Quality Independent Office Assets
Nine Quality Independent Office Assets Commerzone Porur The Square 110 Financial District Paradigm, Mindspace Malad Chennai | 1.2 msf Hyderabad | 0.8 msf Mumbai Region | 0.8 msf Completed Area: 1.2 msf Committed Occupancy: 100.0% Completed Area: 0.8 msf Committed Occupancy: 98.6% Completed Area: 0.8
Slide 14: Eminent and Experienced Board of Directors of the Manager
Eminent and Experienced Board of Directors of the Manager Ten-member board with majority Independent Directors and an Independent Chairman 6 Independent Members 4 Non-Independent Members Deepak Ghaisas Manisha Girotra Bobby Parikh Ravi Raheja Neel Raheja Independent Member Independent Member Indepen
Slide 15: Diversified Portfolio of Marquee Tenants
Diversified Portfolio of Marquee Tenants GCCs contribute 52% of portfolio Diversified tenant mix across sectors Top 10 tenants Gross Contracted Rentals contribution (32.7%) (1) (3) (1) % split by Gross Contracted Rentals % of total Gross Contracted Rentals # of parks Manufacturing Others, 2.0% & Pro
Slide 16: Only REIT Listed in India with Data Centers in the Portfolio
Only REIT Listed in India with Data Centers in the Portfolio 1.7 msf Long Term leases with c.US$ 147 Mn Pre-Leased longer Lock-ins Gross Value(1) Completed Completed Data Centres Completed Completed Completed Future Development Portfolio shall have 5 DCs with c.1.7 msf footprint (over 250 MW capacit
Slide 17: Mindspace REIT Performance | Last 1 Year
Mindspace REIT Performance | Last 1 Year 93 77.4 44.9 70.1 37.1 39.5 85 64.3 66.2 36.8 81 79 Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Revenue From Operations (USD Mn) (1) Net Operating Income (USD Mn) (1) Distribution (USD Mn) (3) 0.84 5.4 527 4
Slide 18: Performance Since Listing
Performance Since Listing mindspacereit.com
Slide 19: Delivered Sustained Growth & Performance Since Listing
Delivered Sustained Growth & Performance Since Listing Accelerating 14.9 msf Occupancy Portfolio growth expansion (6) 95.7% 15.7% Proforma – 91.9% (1) Annualized Committed Occupancy Total Return(3) Strategic Asset ~US$ 455 Mn Capex Expansion Invested Distributed 7.4% US$ 706 2.2x CAGR In-Place Mn(2)
Slide 20: Yield coupled with healthy Growth
Achieved Organic & Inorganic Value Enhancement In The Portfolio Since Listing Redevelopment Net Addition of c.2.5 Msf Yield coupled with healthy Growth 29.5 c. 14.9 msf c. 44.4 msf Msf (1) IPO 2020 Jun 2026 c.66.4% Increase in footprint since listing Data Center FSI Utilization Acquisitions 1.7 msf
Slide 21: Transforming Our Footprint Through Acquisitions
Transforming Our Footprint Through Acquisitions ~ 9.1 msf (2) Commerzone Pallikaranai, 2.57 msf (2) Ascent, Worli, 0.45 MSF The Square 110, Financial District, 0.8 msf One RadialTM, 2.57 msf (2) Commerzone Porur, 0.24 msf Commerzone Raidurg, 1.8 msf c. US $1.1 Bn (GAV of Acquisitions) (1,2) (1) As p
Slide 22: Acquired Premium Assets designed to elevate occupier experience
Acquired Premium Assets designed to elevate occupier experience mindspacereit.com 22
Slide 23: Expansion of Chennai foot-print with 5.2 msf twin asset acquisition
Expansion of Chennai foot-print with 5.2 msf twin asset acquisition c. 2.6 msf c. 70% Committed c. 2.6 msf c.87% in Tower 1 & Occupancy(1) c.28% in tower 2 Total Leasable Total Leasable Area Area Committed Occupancy(3) c. 11 Yrs US $ 265 Mn c. 10 Yrs US $ 313 Mn WALE Acquisition Price WALE (2) Acqui
Slide 24: Creating Value Through Strategic Initiatives
Creating Value Through Strategic Initiatives Mixed Use Hospitality like Re-Energised Parks Data Centers Ecosystems Experience 3 Hotels (1) Premium “Clubs” Average age of the Portfolio – c. 10 years completed / planned 5 DCs with c.1.7 and “Lounges” in the Portfolio msf footprint the new offerings be
Slide 25: Growth Levers
Growth Levers mindspacereit.com
Slide 26: Organic + Inorganic = Portfolio Growth
Organic + Inorganic = Portfolio Growth Acquisitions from 3rd Party Consolidation Sponsor Group Acquisitions within Park Opportunistic Right of First Offer on Qualifying Acquiring third party units in the Parks Sponsor Assets(1) ▪ Right Markets ▪ Acquired 0.65 msf ▪ Good Quality Assets ▪ Opportunity
Slide 27: 8.5 msf Of Assets Slated For Delivery In Next 4 Years
c. 8.5msf Of Assets Slated For Delivery In Next 4 Years Under Construction Future Development Hyderabad 3.3msf completing in FY27 Mumbai Region Re-Developments Mindspace Madhapur Mindspace Madhapur Mindspace Madhapur Building 8 | 1.7 msf; 84% Pre- Building 18 | 0.5 msf; Pre- Mindspace Airoli West Mi
Slide 28: NOI Addition of over $150 mn in next 3 years
NOI Addition of over $150 mn in next 3 years (1) C. 2.3 Msf Vacant and Committed Area Leasing C. 6.8 Msf (3) C. 7.3 Msf (2) Recent Under Acquisitions Development C.US $ 150+ Mn (1) MTM Growth Contractual In Rentals Escalations mindspacereit.com (1) Based on average current market rent estimates; May
Slide 29: India Office Market Growth Tailwinds
India Office Market Growth Tailwinds mindspacereit.com
Slide 30: Office Market in India - Net Absorption | Last 20 Years
Office Market in India - Net Absorption | Last 20 Years Post COVID Average Absorption 50 MSF 57 56 Pre COVID Average Absorption 50 47 COVID 31 MSF Avg. 43 42 Absorption 37 38 36 35 35 35 31 31 30 32 24 MSF 29 26 27 25 23 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Slide 31: Office Market in India
Office Market in India Net absorption (in msf) Top 7 Markets in India 51% net absorption in portfolio markets 57.0 Mumbai Pune Hyderabad Chennai 49.7 47.2 43.0 c.13% c.9% c.23% c.7% 36.5 25.4 23.4 13.6 (+7% YoY) Global BFSI Major recent GCCs deals ~1.9 msf in Mumbai Technology GCC IT GCC ~0.8 msf in
Slide 32: Office Growth Drivers In India
Office Growth Drivers In India Preferred Favorable Structural Trends Rising Domestic Destination for Return to Office Occupiers GCCs Talent Cost Advantage c. 50% c. 43% 80%-90% Talent Pool Availability % share of all % share in overall Physical Occupancy GCCs worldwide leasing activity in Q1 in Indi
Slide 33: Key Trends in India Office Market
Key Trends in India Office Market Vacancy (%) (1) IT Services vs Other(s) (%) of Gross 31% Leasing 24% 21% 19% 17% 59% 15% 15% 62% 63% 62% 66% 14% 71% 72% 74% 74% 79% 10% 9% 9% 9% 8% 6% 4% 41% 38% 37% 38% 34% 29% 28% 26% 26% 21% Pan-India Hyderabad Mumbai Chennai Pune 2016 2017 2018 2019 2020 2021 2
Slide 34: Value Creation via ESG
Value Creation via ESG
Slide 35: ESG Key Highlights
ESG Key Highlights Scope 1+2 emission * 49.1% 56,451 Renewable energy mix (1) tCO2e (32.2% reduction from FY20 baseline) 15,86,129 KL c.56.02% of material Water Recycled sourced using sustainable sourcing * US$ 250 Mn (2) US$ 125Mn of Cumulative Green / Sustainability linked Bond Sustainability Link
Slide 36: Key Achievements and Awards
Key Achievements and Awards Mindspace REIT: Real Estate Excellence • DJSI - Ranked #3 globally in 2025 S&P Global Corporate Sustainability Assessment • India’s highest-rated REIT —and the only Indian organization in our sector to achieve ‘Industry Distinction’ in the S&P Global Sustainability Yearbo
Slide 37: Thank You!
Thank You! mindspacereit.com
Mindspace Business Parks REIT — Non-Deal Roadshow (June 2026) on 6ix