Mindspace Business Parks Reit · NSE:MINDSPACE.RR
Mindspace Business Parks Reit — Non-Deal Roadshow (May 2023)
42 slides from Mindspace Business Parks Reit's roadshow presentation, May 2023
Slide 1: Roadshow Presentation
Roadshow Presentation May 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: Sponsor Pedigree
01 Sponsor Pedigree mindspacereit.com 3
Slide 4: Mindspace REIT: Sponsored by One Of India's Leading Real Estate Player
Mindspace REIT: Sponsored by One Of India’s Leading Real Estate Player Experience of over 4 decades Pan-India presence Office Hospitality Malls Residential Retail >36 msf 3,000+ (1) operational 4 operational malls across Developed residential Operates 270+ retail Developed hotel keys 2.2 msf project
Slide 5: Commercial Portfolio (REIT + Sponsor Assets) Spanning Key Micro-Markets
Commercial Portfolio (REIT + Sponsor Assets) Spanning across Key Micro-Markets 32.0 msf spread across 10 integrated eco-systems of the Commercial Portfolio carved into listed entity ‘Mindspace Business Parks REIT’ Well recognized commercial Gandhinagar >53 msf Total Leasable Area (1) brands 'Mindspa
Slide 6: Pioneers in Creating Integrated Business Districts
Pioneers in Creating Integrated Business Districts • Foresight to go to new areas and develop business districts which have grown to become major commercial hubs • Land which was once enveloped with boulders and rocks was successfully converted into one of the largest and most preferred business dis
Slide 7: India Office Market Overview
02 India Office Market Overview mindspacereit.com 7
Slide 8: Overview of Indian Commercial Real Estate Market
Overview of Indian Commercial Real Estate Market CY22 was the 2nd Best Year in Indian Office history in terms of Gross and Net Leasing Growth of Grade A Office Stock (Top-7 markets msf) • India remains an attractive offshoring destination offering vast 740 749 STEM talent pool at affordable costs 61
Slide 9: Current Trends in Commercial Office Space in India
Current Trends in Commercial Office Space in India Rising demand for institutionally managed Office space take up has not been Grade A office assets scoring high on ESG commensurate with new hiring since 2020 metrics Lower vacancy in Grade A assets across Office continues to be the mainstay, while m
Slide 10: Mindspace REIT Overview
03 Mindspace REIT Overview mindspacereit.com 10
Slide 11: Mindspace Business Parks REIT Portfolio Overview
Mindspace Business Parks REIT Portfolio Overview One of the largest Grade-A office portfolios in India o Sponsored by K Raheja Corp. o Listed in Aug-20; was oversubscribed ~13x 32.0 msf c.89.0% o Substantially completed and rent generating portfolio Committed Occupancy Total Leasable Area (1) on 25.
Slide 12: Structure: Efficient structure aiding higher tax-free distributions
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) Ltd., Intime P
Slide 13: 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 Gencoval Group of • Chief Exe
Slide 14: Unitholding Pattern as on Mar 2023
Unitholding Pattern as on 31 Mar 2023 Unitholding Summary INR 194 Bn 37 % Market Cap (1) % Free- float 593 Mn units Unitholding Pattern (Market Cap : INR 194 Bn) (1) MF NIIs 9.8% NPS Insurance 0.1% 0.2% 1.2% AIFs 0.7% Sponsors & Sponsor Public FIIs Total Group (Others) 21.4% Unitholders 63% 37% 52,4
Slide 15: Premier Offerings in Mumbai Region
Premier Offerings in Mumbai Region Mindspace Airoli East Mindspace Airoli West Mumbai Region | 5.6 msf Mumbai Region | 5.2 msf Completed Area: 4.7 msf; Committed Occupancy: 88.3% Completed Area: 4.9 msf; Committed Occupancy: 70.7% Paradigm, Mindspace Malad The Square, BKC Mumbai Region | 0.7 msf Mum
Slide 16: Premier Offerings in Pune
Premier Offerings in Pune Gera Commerzone Kharadi Pune| 2.9 msf (1) Completed Area: 1.9 msf; Committed Occupancy: 100.0% Commerzone Yerwada The Square, Nagar Road Pune | 1.7 msf (1) Pune | 0.8 msf Completed Area: 1.7 msf; Committed Occupancy: 99.9% Completed Area: 0.7 msf; Committed Occupancy: 100.0
Slide 17: Premier Offerings in Hyderabad & Chennai
Premier Offerings in Hyderabad & Chennai Mindspace Madhapur Hyderabad | 13.1 msf Perspective Completed Area: 9.5 msf; Committed Occupancy: 95.4% Mindspace Pocharam Commerzone Porur Hyderabad | 1.0 msf Chennai | 0.9 msf (1) Completed Area: 0.6 msf; Committed Occupancy: 37.5% Completed Area: 0.9 msf;
Slide 18: Value Enhancement via Venturing into Newer Asset Classes
Value Enhancement via Venturing into Newer Asset Classes Data Centers are emerging and high growth verticals B10 – DC B8 - Perspective Completed and Handed over block to the client Committed block • Pre-Committed two data centre buildings to Princeton Digital Group (PDG) at Mindspace Airoli West wit
Slide 19: Redevelopment at Mindspace Madhapur
Redevelopment at Mindspace Madhapur Value Maximization throughout the Asset Lifecycle Opportunity to expand the portfolio through redevelopment of some of the legacy low-density buildings; increasing their leasable area four-fold Post redevelopment Perspective Legacy Buildings Redevelopment c.4x inc
Slide 20: 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 3.7 2.5 1.9 0.9 0.6 1 FY20 FY21 FY22 FY23 Area under-construction Future development Select Under
Slide 21: Value Creation by Developing Integrated Business Eco-systems
Value Creation by Developing “Integrated Business Eco-systems” Biophilic Design interweaving the elements of Nature into Workspaces at Commerzone Kharadi, Pune Expansive Central Podium Spacious Recreational Spaces Outside Seating Biophilic Landscape mindspacereit.com 21
Slide 22: Re-Energizing Our Parks
Re-Energizing Our Parks Energized & Appealing Entry Points Attractive Aesthetics & Outside Seating across Parks Food Court Upgrade – Easier F&B access to clients Attractive Aesthetics mindspacereit.com 22
Slide 23: 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: • 1.8 msf pre-leased • Tenant has started fit-out work in the premises • OC received 8.6 msf Per
Slide 24: Diversified Portfolio of Marquee Tenants
Diversified Portfolio of Marquee Tenants Top 10 tenants contributing 32.2% (Mar 23) vs. 41.6% (Mar 20) Diversified tenant mix across sectors Top 10 tenants Gross Contracted Rentals contribution (32.2%) (1) % split by Gross Contracted Rentals (1) % of total Gross Contracted Rentals Manufacturi # of p
Slide 25: Steady Improvement in Physical Occupancy across Our Parks
Steady Improvement in Physical Occupancy across Our Parks Employers are Firmly Working on Return to Office Policies 56% 50% 40% 36% 31% 23% 13% Mar-22 Apr-22 Jun-22 Jul-22 Sep-22 Dec-22 Apr-23 Driving Physical Occupancy at Our Parks Consistent portfolio Portfolio premiumization Enhancing offerings v
Slide 26: Operating/Financial Highlights
04 Operating/ Financial Highlights mindspacereit.com 26
Slide 27: Growth Trajectory Since April 2020
Growth Trajectory Since April 2020 Demonstrated strong Gross Leasing as macroenvironment continues to improve 12.2 msf 7.5 msf 4.7 msf Gross Leasing Re-leased New & Vacant (Incl. hard option) area Leased 30+ 25.7 % 8.3 % Net expansion of Re-leasing Spread(1) MTM opportunity as tenant base on 31 Mar
Slide 28: Strong Financial Performance Since Listing in Aug 2020
Strong Financial Performance Since Listing in Aug 2020 Delivered 36.1% cumulative returns for Unitholders Since Aug-2020 Debt outstanding INR 47.1 p.u. 7.6 % p.a. 17.9 % Fixed cost Weighted Average 47.5% Total distribution till Cost of Debt as on Loan to Market date 31 Mar 23 Value(1) 18.9 % Variabl
Slide 29: Value Creation via ESG
05 Value Creation via ESG mindspacereit.com 29
Slide 30: Beyond Business Operations, Towards Long-term Value
Beyond Business Operations, Towards Long-term Value Commitment to Ecological balance, health & safety Mindspace REIT is First Real Estate entity Committed to 100% certified as Great to join the initiative Renewable Power Place to work • Received WELL Health & • Development Development – 5/5 – 94/100
Slide 31: Our Commitment to Build an ESG Centric Ecosystem
Our Commitment to Build an ESG Centric Ecosystem India’s first real estate entity to Signatory of EV100 Initiative Value creation for tenants join RE100 initiative through engagement activities Durgam Cheruvu Lake Added additional floor in Great place to work Makeover, Hyderabad Govt Hospital for CO
Slide 32: Beyond Business Operations, Towards Long-term Value
Beyond Business Operations, Towards Long-term Value Almost 1/3rd of Senior Management consists of Concluded 1st REIT Level Green Bond Issuance women in the Country 19.1% of debt outstanding is Green 10.0% 9.1% Green bond Green loan 80.9% Others Establishing a school with a capacity of 400 students i
Slide 33: Thank You
Thank You Investor Relations Enquiries: Kedar Kulkarni (Finance & Investor Relations) Email id: ir@mindspacereit.com mindspacereit.com 33
Slide 34: Annexures: Upgrades
Annexures: Upgrades mindspacereit.com 34
Slide 35: 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 36: Value Creation by Developing Integrated Business Eco-systems
Value Creation by Developing “Integrated Business Eco-systems” Commerzone Kharadi, Pune Aesthetic Lobby enhancing the entry experience Spacious lobby with Amphitheather Food Court Day Care Facility for Clients mindspacereit.com 36
Slide 37: Premiere Developments at Mindspace Airoli (W), Mumbai Region
Premiere Developments at Mindspace Airoli (W), Mumbai Region Immersive Experience with Grand Entrance Lobbies mindspacereit.com 37
Slide 38: Mindspace Madhapur, Hyderabad – Recreational Zones across the Park
Mindspace Madhapur, Hyderabad – Recreational Zones across the Park Amphitheater at the Entrance Lobby Recreational Spaces for tenants Vantage Café - Well spread F&B spaces across the Park Landscape & Outside Seating Upgrade mindspacereit.com 38
Slide 39: Annexures: Asset Management
Annexures: Asset Management mindspacereit.com 39
Slide 40: Building Ecosystems Catering to the Needs of Quality Workforce
Building Ecosystems Catering to the Needs of Quality Workforce Building ecosystems catering to the needs of Technology focused management quality workforce initiatives CERTIFICATIONS Best in the class Sewage Treatment BUSINESS UPTIME Saving fresh water & 100% recyclable quality RELIABILITY Infrastru
Slide 41: Technology focused Initiatives Enhancing Tenant Experience
Technology focused Initiatives Enhancing Tenant Experience Unique Biosonification Experience at Mindspace Airoli (W) Infrastructure monitoring operational center (IMOC) • Delivering seamless integration with Integrated • Unveiled a first-of-its-kind Musical Plant Parlor at Building Management System
Slide 42: Tenant Engagement Initiatives across Assets
Tenant Engagement Initiatives across Assets Sports Engagement - Inter-corporate football tournaments Navratri Celebration - ‘Dandiya Bash’ National Farmer’s Day - Organized Urban Farming; ~300 associates IDCR Marathon 2023 at Mindspace Madhapur participated mindspacereit.com 42
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