Mindspace REIT Soars: High Occupancy, Lower Costs Boost Cash Flows

• Mindspace Business Parks REIT reports strong rental and distribution growth, driven by high occupancy and reduced borrowing costs.
• Managing Director Ramesh Nair highlights a 29% net operating income (NOI) growth and nearly 20% distribution growth.
• Portfolio occupancy, excluding acquisitions, stands at 95.3%, with borrowing costs decreasing from 8.15% to 7.39%.
• The REIT benefits from a 27% releasing spread and strong demand from Global Capability Centers (GCCs), which constitute 54% of its portfolio.
• Future plans include ₹4,000 crore capital expenditure and expansion into data centers, leveraging large land parcels in Hyderabad and Navi Mumbai.

Why It Matters: Mindspace REIT's high occupancy, lower interest rates, and strong GCC demand are driving significant cash flow growth.