Mindspace REIT net operating income rises 16.8 % YoY on strong leasing

Mindspace REIT's net operating income (NOI) for Q3FY23 rose 16.8 per cent to Rs 455 crore year-on-year (YoY), the company said in a BSE filing. Sequentially, NOI was up 4.6 per cent.

The company also raised Rs 100 crore through the issuance of commercial papers.

The company recorded a gross leasing of c.1.3 msf in Q3FY23, taking cumulative leasing in 9MFY23 to c.3.5 msf. Mindsapce REIT also had an average rent of Rs 67 psf/month, across 17 tenants in Q3FY23.

Speaking on the results, Vinod Rohira, Chief Executive Officer, Mindspace Business Parks REIT

said, “We are delighted to report yet another