Mindspace Business Parks REIT third quarter net profit at Rs 140 crore

The firm declared a distribution of Rs 283.5 crore to unitholders

Mindspace Business Parks REIT on Wednesday reported a consolidated net profit of Rs 140 crore for the quarter ended December and declared a distribution of Rs 283.5 crore to unitholders.

The company, which got listed on the stock exchanges in August last year after raising Rs 4,500 crore through a public issue, had posted a net profit of Rs 68.4 crore in the previous quarter.

Total income rose to Rs 431.6 crore in the October-December period of this fiscal year from Rs 278 crore in the second quarter of 2020-21 financial year, according to a regulatory filing.

Mindspce declared a distribution of Rs 283.5 crore, which is Rs 4.78 per unit, to its unitholders. This is the first distribution post listing.

Mindspace Business Parks REIT, sponsored by K Raheja Corp group, owns office portfolios located in four key office markets of India, namely Mumbai Region, Pune, Hyderabad and Chennai.

It has a total leasable area of 29.5 million square feet. The portfolio consists of five integrated business parks and five quality independent office assets. It has a diversified and high-quality tenant base, with 165+ tenants as of December 31, 2020.