Mindspace Business Parks Reit · NSE:MINDSPACE.RR
Mindspace Business Parks Reit — Investor Presentation (October 2023)
25 slides from Mindspace Business Parks Reit's investor presentation, October 2023
Slide 1: Corporate Presentation
Corporate Presentation October 2023 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: Sponsored by One Of India's Leading Real Estate Player
Sponsored by One Of India’s Leading Real Estate Player Office Hospitality Malls Residential Retail 3,300+ (1) operational hotel Developed residential Operates 220+ retail Developed >36 msf 4 operational malls keys projects across 5 cities outlets across India Group Hotels Partner with Marriott and A
Slide 4: Pioneers in Creating Integrated Business Districts (1/2)
Pioneers in Creating Integrated Business Districts (1/2) Foresight to go to new areas and develop business districts which have grown to become major commercial hubs Mindspace Malad, Mumbai Region Mindspace Airoli East, Mumbai Region Year 2000 Year 2007 Today Today One of the first to set-up commerc
Slide 5: Pioneers in Creating Integrated Business Districts (2/2)
Pioneers in Creating Integrated Business Districts (2/2) Land which was once enveloped with boulders and rocks was successfully converted into one of the largest and most preferred business districts Mindspace Madhapur, Hyderabad Gera Commerzone Kharadi, Pune Year 2004 Year 2016 Today Today Today, M
Slide 6: Mindspace Business Parks REIT Portfolio Overview
Mindspace Business Parks REIT Portfolio Overview One of the largest Grade-A office portfolios in India 32.3 msf 86.5% INR 186 bn INR 4,912 Mn(4) Committed Occupancy NOI in Q2 FY24 Total Leasable Area (1) Market capitalization(2) on 26.1 msf Presence in 4 out of top 6 Indian office markets o Sponsore
Slide 7: Mindspace REIT – At a Glance (H1 FY24)
Mindspace REIT – At a Glance (H1 FY24) 1 Operating Highlights 0.3 msf 9.8 % 86.5 % 73 1.1 msf 0.8 msf INR psf/month Committed Average Rent for Area New and Vacant Area Re-leasing Spread (1) Gross Leasing Re-leased Area Occupancy Leased Leased on 1.0 msf 2 Financial Highlights INR 5,687 Mn 6.1 % INR
Slide 8: Board of Directors of the Manager
Board of Directors of the Manager Seven-member board with majority Independent Directors and an Independent Chairman Deepak Ghaisas Manisha Girotra Independent Member (Chairman) Independent Member Experience Experience • Chairman of Gencoval Group of Companies • Chief Executive Officer of Moelis Ind
Slide 9: Board of Directors of the Manager
Board of Directors of the Manager Seven-member board with majority Independent Directors and an Independent Chairman Ravi Raheja Neel Raheja Non-Executive Member Non-Executive Member Experience Experience • Group President at K Raheja Corp • Group President at K Raheja Corp, 24+ years of experience
Slide 10: Five Integrated Business Parks
Five Integrated Business Parks Mindspace Madhapur Mindspace Airoli East Hyderabad | 13.1 msf (1) Mumbai Region | 5.6 msf Completed Area: 9.6 msf; Committed Occupancy: 91.9% Completed Area: 4.7 msf; Committed Occupancy: 82.7% Mindspace Airoli West Gera Commerzone Kharadi Commerzone Yerwada Mumbai Reg
Slide 11: Five Quality Independent Office Assets
Five Quality Independent Office Assets Commerzone Porur Paradigm, Mindspace Malad Chennai | 1.1 msf Mumbai Region | 0.8 msf Completed Area: 1.1 msf; Committed Occupancy: 80.1% Completed Area: 0.8 msf; Committed Occupancy: 98.0% The Square, Nagar Road Mindspace Pocharam The Square, BKC Pune | 0.8 msf
Slide 12: Diversified Portfolio of Marquee Tenants
Diversified Portfolio of Marquee Tenants Top 10 tenants contributing 29.7% (Sept 23) vs. 30.9% (Jun 23) Diversified tenant mix across sectors Top 10 tenants Gross Contracted Rentals contribution (29.7%) (1) (1) % split by Gross Contracted Rentals % of total Gross Contracted Rentals # of parks L&T 4.
Slide 13: Robust Development Pipeline in Each of Our Micro-markets
Robust Development Pipeline in Each of Our Micro-markets Historical development and expansion potential of our Portfolio 6.7 msf area added 6.2 msf in development pipeline Development pipeline (msf) 3.3 3.3 1.9 2.9 0.9 0.6 1 FY20 FY21 FY22 FY23 Area under-construction Future development Select Under
Slide 14: Value Maximization via Redevelopment and New Asset Classes
Value Maximization via. Redevelopment and New Asset Classes Redevelopment of old Venturing into new buildings Repurposing assets verticals like Data Centers Perspective – B1A-1B Perspective B1A-1B B7&8 B1A-1B Leasable 0.39 0.36 Average performing mall, converted into a Area msf(1) msf(1) Key Terms o
Slide 15: Re-energizing Parks with Building and Infra Upgrades
Re-energizing Parks with Building and Infra Upgrades Case Study - Mindspace Airoli East, Mumbai Region Revamping the Re-energised Renovation of Pedestrian Lightings & Refurbished building’s lobbies Entrance connection Signages Hardscape & exterior façade Gate under the Landscape podium Before After
Slide 16: 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 16
Slide 17: Utilising Covid-19 downtime efficiently to create a WOW factor
Utilising Covid-19 downtime efficiently to create a “WOW” factor Matching world-class standards, while enhancing the biodiversity within the park Outside seating Refurbished hardscape & landscape Attractive aesthetics Clubhouse & foodcourt mindspacereit.com 17
Slide 18: ROFO Assets to Add Further Scale And Growth
ROFO Assets to Add Further Scale And Growth Strong pipeline spread across Mumbai Region, Chennai and Hyderabad Current Current Hyderabad | 1.8 msf 3 currently Commerzone Raidurg identified assets Status: • Completed • 1.8 msf leased • Rent Commenced for Phase I and II 8.6 msf Perspective Current Che
Slide 19: Key Financial Metrics
Key Financial Metrics Delivered consistent growth on key financial metrics Revenue (INR mn) (1)(4) NOI (INR mn) (1)(3)(4) 5,997 4,912 5,604 4,545 5,360 186 (2) 4,364 186 (2) 4,974 4,172 4,916 3,997 4,014 4,365 4,703 5,254 3,737 4,419 3,595 4,237 Q2 FY22 Q3 FY22 Q4 FY22 Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY2
Slide 20: Low Leverage Offers Balance Sheet Headroom for Future Growth
Low Leverage Offers Balance Sheet Headroom for Future Growth INR 6,040 Mn 7.8 % INR 56,697 Mn 19.8 % LTV(1) Cost of Debt 3.4 x (Jun 23 – 18.8%) Undrawn Committed (p.a.) Net Debt (1) Net Debt to EBITDA(4) Facilities (Jun 23 – 7.7%) Well staggered maturity profile Diversified debt Book with a mix of 7
Slide 21: Unitholding Pattern as on 30 September 2023
Unitholding Pattern as on 30 September 2023 Unitholding Summary INR 18,608 Cr 36.5% Market Cap(1) % Free- float 593 Mn units Unitholding Pattern (Market Cap : INR 186 Bn) (1) MF NIIs AIF 0.6% 10.6% 0.5% Insurance 1.5% NPS Sponsors & Sponsor Public 0.2% Group (Others) DIIs 3.4% Total 63.5% 36.5% Unit
Slide 22: Building a sustainable ecosystem
ESG Framework: Our Approach towards Building a Sustainable Ecosystem Our Purpose Building a sustainable ecosystem Strategic Pillars and Key Focus Areas Resource Conservation and Employee and Community Responsible Business Conduct Efficiency Relations • Human Capital • Human Rights & Ethical • Carbon
Slide 23: ESG: Our Journey So Far and Way Forward
ESG: Our Journey So Far and Way Forward Released Second “Sustainability Report” Participation in best-in-class benchmarking such as DJSI Built one of the largest portfolios of LEED / IGBC certified buildings; >98% Green Certified Enhanced disclosures aligning with sustainability standards Journey ah
Slide 24: Mindspace REIT Structure
Mindspace REIT Structure Efficient structure aiding higher tax-free distributions Unitholders Investment in Distribution Mindspace REIT Investment Manager Trust Trustee K Raheja Corp Mindspace Business Axis Trustee Services Investment Managers Parks REIT Limited Private Limited (3) SPV: K Raheja IT
Slide 25: Thank You
Thank You Investor Relations Enquiries: Nitin Garewal (Finance & Investor Relations) Email id: ir@mindspacereit.com mindspacereit.com 25
Mindspace Business Parks REIT — Investor Presentation (October 2023) on 6ix