Mindspace REIT acquires 18.2 lakh sq ft commercial complex in Hyderabad for Rs 613 core
Recently, Mindspace REIT reported an 8 per cent increase in its Net Operating Income (NOI) to Rs 521.8 crore for the quarter ended December 2024.
![Mindspace REIT acquires 18.2 lakh sq ft commercial complex in Hyderabad for Rs 613 core](https://cdn.zeebiz.com/sites/default/files/2025/01/29/348741-image-fotor-20250129123732.png?im=FitAndFill=(1200,900))
Realty firm Mindspace Business Parks REIT has acquired 18.2 lakh commercial area in Hyderabad for Rs 613 crore to expand its rent-yielding portfolio.
Mindspace REIT, which is listed on stock exchanges, will acquire 100 per cent equity of Sustain Properties Pvt Ltd, which owns this 18 lakh square feet area. The shareholders of Sustain Properties will be allotted units in Mindspace REIT as consideration.
In a regulatory filing, Mindspace REIT informed that the board has approved "acquisition of 100 per cent equity shareholding of Sustain Properties holding about 1.82 million (18.2 lakh) square feet of leasable area at Commerzone Raidurg, located at Raidurg, Hyderabad. The deal value is Rs 612.9 crore.
The board has approved the issuance of up to 16,168,090 units of Mindspace REIT, on a preferential basis, as consideration for acquisition at a price of Rs 379.08 per unit to the shareholders of Sustain Properties as consideration for the transfer of their 100 per cent equity shareholding.
Recently, Mindspace REIT reported an 8 per cent increase in its Net Operating Income (NOI) to Rs 521.8 crore for the quarter ended December 2024.
Its NOI stood at Rs 473.1 crore in the year-ago period.
The company declared a distribution of Rs 5.32 per unit aggregating to Rs 315.48 crore for its unitholders.
The distribution comprises a dividend of Rs 3.20 per unit aggregating Rs 189.76 crore, interest of Rs 0.22 per unit, aggregating Rs 13.04 crore, repayment of SPV debt of Rs 1.88 per unit, aggregating Rs 111.48 crore and other income of Rs 0.02 per unit, totalling Rs 1.18 crore.
For the December quarter of 2024-25 fiscal, the company has declared 11 per cent higher distribution than the year-ago period.
Mindspace Business Parks REIT, sponsored by K Raheja Corp group, was listed on the Indian bourses in August 2020. It owns office portfolios in the Mumbai Region, Pune, Hyderabad, and Chennai.
At the end of the third quarter, the company had a portfolio of 34.8 million (348 lakh) square feet comprising 26.8 million square feet of completed area, 4.6 million square feet of area under construction and 3.4 million square feet of future development.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
![https://www.zeebiz.com/personal-finance/photo-gallery-new-income-tax-bill-slabs-2025-calculator-tax-you-need-to-pay-on-inr-1287500-annual-income-calculations-latest-taxation-rules-rebate-standard-deduction-marginal-relief-taxable-budget-347038](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2025/02/13/353002-top7-hybrid-funds-in-10-years-2.jpg?itok=jVfAvaIS)
New Tax Regime Slabs: Is your annual salary Rs 12,87,500? Do you need to pay tax on Rs 12,500 or Rs 12,87,500? See calculations to know
![https://www.zeebiz.com/personal-finance/photo-gallery-retirement-corpus-mutual-fund-lump-sip-one-time-investment-planning-calculator-calculations-how-inr-rs-1000000-deposit-can-create-rs-30000000-fund-in-30-years-power-of-compounding-347205](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2025/02/14/353193-salary-da-calculator.jpg?itok=-EhQme5U)
Retirement Planning: How one-time investment of Rs 10,00,000 can create Rs 3,00,00,000 retirement corpus
![https://www.zeebiz.com/personal-finance/photo-gallery-dearness-relief-dr-pension-central-government-employee-calculator-calculations-is-your-basic-pension-rs-25000-35000-40000-50000-know-total-amount-AICPI-consumer-index-DA-benchmark-346424](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2025/02/12/352375-untitled-design.jpg?itok=1_intAoD)
Monthly Pension Calculations: Is your basic pension Rs 25,000, Rs 35,000, or Rs 50,000? Know what can be your total pension as per latest DR rates
![https://www.zeebiz.com/personal-finance/photo-gallery-top-7-sbi-mutual-funds-mf-by-1-time-investment-return-inr-inr-100000-has-grown-to-rs-285000-348000-in-5-years-see-list-compare-sip-returns-347070](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2025/02/14/353025-twinimageswithtext-3.jpg?itok=pYist1zW)
Top 7 SBI Mutual Fund MFs by One-time Investment Return: Rs 1 lakh has grown to Rs 2.85 lakh-3.48 lakh in 5 years; see list, compare SIP returns
![https://www.zeebiz.com/personal-finance/photo-gallery-monthly-salary-da-dearness-allowance-calculator-what-will-it-be-for-basic-salary-pay-of-inr-rs-25500-35400-53100-50-53-west-bengal-government-hike-inflation-index-central-state-government-employees-347095](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2025/02/14/353079-salary-da-calculator.jpg?itok=7eY6cBdg)
Dearness Allowance (DA) Calculations: Is your basic monthly salary Rs 25,500, Rs 35,400, or Rs 53,100? Know how much DA will you get at different rates
12:41 PM IST