Mindspace Business Parks REIT · NSE:MINDSPACE.RR
Mindspace Business Parks REIT — H1 FY23 Earnings Presentation
26 slides from Mindspace Business Parks REIT's earnings presentation, November 2022
Slide 1: Corporate Presentation
Corporate Presentation Nov 2022 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 2,500+ (1) operational hotel Developed residential Operates 260+ retail Developed >34 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 31.9 msf 86.9% INR 216 bn INR 8.2 bn Committed Occupancy NOI in H1FY23 Total Leasable Area (1) Market capitalization(2) on 24.9 msf Presence in 4 out of top 6 Indian office markets o Sponsored by K
Slide 7: Mindspace REIT – At a Glance (H1 FY23)
Mindspace REIT – At a Glance (H1 FY23) 1 Operating Highlights 2.1 msf (1)(6) 1.3 msf (1)(6) 0.9 msf 28.0 % INR 62 psf/month Received acquisition Re-leased Area Re-leasing Spread (2) Average Gross Leasing New and Vacant Area notice for 0.16 msf, The Leased on 1.3 msf Rent achieved on Gross Leasing Sq
Slide 8: Governing Board Of The Manager
Governing Board Of The Manager Six-member board with majority independent directors and an Independent Chairman Deepak Ghaisas Manisha Girotra Bobby Parikh Independent Member (Chairman) Independent Member Independent Member Experience Experience Experience • Chairman of Stemade Biotech Private • Chi
Slide 9: Five Integrated Business Parks
Five Integrated Business Parks Mindspace Madhapur Mindspace Airoli East Hyderabad | 11.8 msf Mumbai Region | 6.8 msf Perspective Completed Area: 9.9 msf; Committed Occupancy: 92.2% Completed Area: 4.7 msf; Committed Occupancy: 88.2% Mindspace Airoli West Gera Commerzone Kharadi Commerzone Yerwada Mu
Slide 10: Five Quality Independent Office Assets
Five Quality Independent Office Assets Commerzone Porur Paradigm, Mindspace Malad Chennai | 0.9 msf (1) Mumbai Region | 0.7 msf Completed Area: 0.9 msf; Committed Occupancy: 59.5% Completed Area: 0.7 msf; Committed Occupancy: 94.9% The Square, Nagar Road The Square, BKC Mindspace Pocharam Pune | 0.8
Slide 11: Diversified Portfolio of Marquee Tenants
Diversified Portfolio of Marquee Tenants Reduced concentration risk with top 10 tenants contributing 36.4% (Sep 22) vs. 37.2% (Sep 21) Diversified tenant mix across sectors Top 10 tenants Gross Contracted Rentals contribution (36.4%) (1) (1) % split by Gross Contracted Rentals % of total Gross Contr
Slide 12: Robust Development Pipeline in Each of Our Micro-markets
Robust Development Pipeline in Each of Our Micro-market ~1.3 msf addition to the portfolio in FY23 underway; ~45% space Pre-committed Under Construction Status: Historical development and expansion potential of our Portfolio Airoli (W) B9, Mumbai Region (1.1 msf)(1) Commerzone Kharadi B5, Pune (0.7
Slide 13: 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 Erstwhile Perspective Leasable Area 0.39 msf(1) Redevelopment Average performing mall, converted into a Leasable Area 1.31 msf (1) Key Terms of
Slide 14: 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 14
Slide 15: 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 15
Slide 16: Re-energising the Park with Building and Infra Upgrades
Re-energising the Park with Building and Infra Upgrades Before Current Façade of old building Revamped the building’s exterior façade Old entrance gate Renovated entrance gate mindspacereit.com 16
Slide 17: 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 Perspective Current Hyderabad | 1.8 msf 3 currently Commerzone Raidurg identified assets Status: • 1.8 msf pre-leased (1) • Tenant has started fit-out work in the premises • OC received 8.6
Slide 18: Acquisition Update – The Square Avenue 98 (BKC Annex)
Acquisition Update – The Square Avenue 98 (BKC Annex) Shareholders of Sundew RE(1) have expressed their interest to sell 100% equity shares to Mindspace REIT Project Details Project Images Building 2B + G + 8 configuration Leasable Area 155,150 sf Leasing Status 100% leased Tenant Global Financial I
Slide 19: ROFO Update - Commerzone Raidurg
ROFO Update - Commerzone Raidurg(1) Project Images Project Details Total land area 9.07 acres Land ownership Freehold Leasable Area 1.82 msf 2 B + 2 Stilt + 1 G + 20 Configuration office floors Completion Occupancy certificate Status received in April 2022(2) Fit-out status Tenant fit-out in progres
Slide 20: Key Financial Metrics
Key Financial Metrics Delivered consistent growth on key financial metrics Revenue (INR mn) (1) NOI (INR mn) (1) 4,916 4,974 4,172 4,703 3,997 4,014 4,419 3,730 4,269 4,218 4,237 3,586 3,583 3,618 3,595 4,171 Q3 FY21 Q4 FY21 Q1 FY22 Q2 FY22 Q3 FY22 Q4 FY22 Q1 FY23 Q2 FY23 Q3 FY21 Q4 FY21 Q1 FY22 Q2
Slide 21: Low Leverage Offers Balance Sheet Headroom for Future Growth
Low Leverage Offers Balance Sheet Headroom for Future Growth INR 46,478 Mn 16.8 % INR 4,051 Mn 7.3 % 5.4 years Net Debt to Undrawn Committed Cost of Debt Net Debt Market Value (1) Wt. Avg. Maturity Facilities (p.a.) Well staggered maturity profile with 13.5% maturity by FY24 Diversified debt book wi
Slide 22: Unitholding Pattern as on Sep 2022
Unitholding Pattern as on 30 Sep 2022 Unitholding Summary INR 21,601 Cr 37 % Market Cap (1) % Free- float 593 Mn units Unitholding Pattern (Market Cap : INR 216 Bn) (1) Insurance MF NIIs 1.1% 9.6% NPS 0.1% 0.1% Sponsors & Sponsor Public AIFs Group (Others) 0.6% 63% 37% FIIs 43,565 22.0% Total Unitho
Slide 23: ESG Framework: 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 24: ESG: Our Journey So Far and Way Forward
ESG: Our Journey So Far and Way Forward Released First “Sustainability Report” Participation in best-in-class benchmarking such as DJSI Built one of the largest portfolios of LEED / IGBC certified buildings Enhanced disclosures aligning with sustainability standards Journey ahead Journey so far Achi
Slide 25: 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 LLP SPV: K Raheja IT Park (Hyderabad)
Slide 26: Thank You
Thank You Investor Relations Enquiries: Kedar Kulkarni (Finance & Investor Relations) Email id: ir@mindspacereit.com mindspacereit.com 26
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