Mindspace REIT FY23 net operating income up 13.2% at Rs 1,710 crore

Mindspace Business Parks REIT recorded a 13.2% YoY growth in net operating income, reaching INR 1,710 crores for the financial year 2022-23. The company’s revenue from operations increased to INR 2,068 crores, up 16.6% during the same period. Gross leasing of over four million sq ft and adding over 30 new tenants to its portfolio led to committed occupancy rising by 470 basis points to 89%. Mindspace has declared distribution of INR 4.81 per unit, taking its full year distribution to INR 19.1 per unit. It has raised INR 550 crores through India’s first REIT level Green Bond issuance.