Mindspace REIT to distribute Rs 285 crore as dividend to unitholders

Mindspace Business Parks REIT on Friday declared a distribution of Rs 285.2 crore to its unitholders for the quarter ended March.

For the entire 2020-21 financial year, the company distributed Rs 568.7 crore to its unitholders.

In a regulatory filing, Mindspace said it declared a distribution of Rs 285.2 crore/ Rs 4.81 per unit for the quarter ended March 31, 2021. The distribution comprises Rs 263.3 crore/ Rs 4.44 per unit in form of dividends and Rs 21.9 crore/Rs 0.37 per unit in form of interest.

"Together with the distribution made in the previous quarter, the distributions for the full year ended March 31, 2021, aggregating to Rs 568.7 crore/Rs 9.59 per unit," it added.

Mindspace REIT's net operating income stood at Rs 357.9 crore for the quarter ended March and Rs 1,374.1 crore in the last fiscal year.

Mindspace Business Parks REIT, sponsored by K Raheja Corp group, got listed on the Indian bourses in August 2020.

The REIT, the country's second Real Estate Investment Trust (REIT) owns quality office portfolios located in four key office markets- Mumbai Region, Pune, Hyderabad, and Chennai.

It has a total leasable area of 30.2 million sq ft. The portfolio consists of five integrated business parks and five quality independent office assets.