India is the number one office market in the world: Mindspace Reit

K Raheja-backed REIT plans ₹4,000 cr capex, portfolio expansion, and higher occupancy

K Raheja-backed Mindspace Business Parks Reit marked five years of listing on the Indian stock exchanges last month. The trust expects its net operating income (NOI) to rise by ₹900- ₹1,000 crore over the next 3-4 years. With a planned capex of ₹4,000 crore, the Reit aims to expand its portfolio through the redevelopment of older assets and acquisitions from both sponsors and third parties. Ramesh Nair, CEO & MD, and Preeti Chheda, CFO, shared insights on the Reit’s performance and growth strategy in a conversation with Prachi Pisal. Edited excerpts:

 

How has the journey been over the last five