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Mindspace Business Parks REIT (MINDSPACE)₹499.86−1.74%Real Estate Investment Trusts (REITs)
In the Jun 2026 quarter (consolidated), Mindspace Business Parks REIT reported sales of ₹942 Cr, up 27.8% from Jun 2025, and net profit of ₹272 Cr, up 62.9% year on year. For the year to Mar 2026, sales were ₹3,205 Cr and net profit ₹695 Cr.
Company filings, consolidated accounts; latest reported quarter Jun 2026
| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 636 | 606 | 618 | 626 | 647 | 647 | 679 | 737 | 769 | 811 | 887 | 942 |
| Expenses | 183 | 162 | 178 | 184 | 181 | 179 | 197 | 190 | 197 | 188 | 207 | 233 |
| Operating Profit | 455 | 446 | 442 | 443 | 468 | 469 | 484 | 549 | 574 | 625 | 683 | 713 |
| OPM % | 71.0% | 73.0% | 71.0% | 71.0% | 72.0% | 71.9% | 71.0% | 73.9% | 73.9% | 76.9% | 77.0% | 74.9% |
| Other Income | 1.99 | 2.99 | −32.96 | 12.98 | 2.99 | 22.98 | 25.95 | 26.94 | −19.97 | 20.99 | 24.95 | 27.97 |
| Interest | 115 | 116 | 119 | 126 | 130 | 144 | 157 | 204 | 205 | 210 | 221 | 257 |
| Depreciation | 98.09 | 98.18 | 94.06 | 97.17 | 98.10 | 106 | 104 | 115 | 118 | 122 | 124 | 119 |
| Profit before tax | 245 | 235 | 196 | 234 | 242 | 242 | 249 | 258 | 233 | 315 | 364 | 365 |
| Tax % | 38.9% | 37.9% | 34.9% | 40.9% | 43.9% | 39.9% | 60.9% | 35.9% | 45.9% | 38.9% | 42.9% | 25.9% |
| Exceptional items | 0.00 | 0.00 | −23.95 | 0.00 | 0.00 | −0.99 | 0.00 | 0.00 | −23.95 | 0.00 | 0.00 | 0.00 |
| Net Profit | 150 | 147 | 127 | 138 | 135 | 145 | 96.12 | 167 | 127 | 192 | 209 | 272 |
| EPS (Rs) | 2.37 | 2.32 | 1.99 | 2.15 | 2.11 | 2.28 | 1.42 | 2.56 | 1.90 | 2.95 | 3.05 | 3.95 |
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,428 | 0.00 | 1,134 | 1,754 | 2,289 | 2,453 | 2,587 | 3,205 | 3,409 |
| Expenses | 419 | 5.01 | 300 | 385 | 751 | 691 | 741 | 779 | 825 |
| Operating Profit | 1,012 | −4.99 | 838 | 1,374 | 1,545 | 1,770 | 1,853 | 2,438 | 2,596 |
| OPM % | 71.0% | — | 74.0% | 77.9% | 66.9% | 72.0% | 71.0% | 76.0% | 76.2% |
| Other Income | 260 | 0.00 | 21.98 | −67.96 | −110 | −21.98 | 75.86 | 49.91 | 53.94 |
| Interest | 448 | 0.00 | 172 | 265 | 344 | 459 | 559 | 839 | 892 |
| Depreciation | 220 | 0.00 | 209 | 330 | 355 | 383 | 407 | 479 | 484 |
| Profit before tax | 606 | −4.99 | 478 | 713 | 737 | 910 | 967 | 1,171 | 1,277 |
| Tax % | 14.9% | 0.0% | 30.0% | 36.9% | 57.9% | 37.9% | 46.9% | 40.9% | — |
| Exceptional items | 0.00 | 0.00 | 0.99 | −51.92 | −55.91 | −21.95 | −1.99 | −25.97 | −23.95 |
| Net Profit | 516 | −5.01 | 335 | 448 | 308 | 562 | 515 | 695 | 801 |
| EPS (Rs) | — | — | 5.17 | 7.14 | 4.77 | 8.84 | 7.81 | 10.04 | 11.85 |
| Dividend payout % | 0.0% | 0.0% | 185.0% | 257.9% | 398.9% | 216.0% | 277.9% | 237.9% | — |
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 50.01 | 0.00 | 16,277 | 16,265 | 16,277 | 16,273 | 16,579 | 17,698 |
| Reserves | 1,583 | −4.99 | 19.00 | −662 | −1,499 | −2,111 | −2,523 | −2,648 |
| Borrowings | 6,156 | 0.00 | 3,764 | 4,446 | 5,445 | 6,965 | 10,104 | 12,952 |
| Other Liabilities | 1,345 | 4.99 | 2,179 | 2,207 | 2,432 | 2,673 | 2,922 | 3,552 |
| Total Liabilities | 9,134 | 0.00 | 22,240 | 22,256 | 22,654 | 23,799 | 27,082 | 31,555 |
| Fixed Assets | 6,047 | 0.00 | 21,190 | 21,190 | 21,406 | 21,955 | 24,765 | 28,766 |
| CWIP | 2.01 | 0.00 | 2.01 | 0.00 | 0.00 | 0.00 | 65.06 | 128 |
| Investments | 1.01 | 0.00 | 2.01 | 2.01 | 3.01 | 3.01 | 4.01 | 4.01 |
| Other Assets | 3,084 | 0.00 | 1,045 | 1,063 | 1,245 | 1,841 | 2,248 | 2,657 |
| Inventories | 3.01 | 0.00 | 4.01 | 3.01 | 7.02 | 4.01 | 5.01 | 5.01 |
| Trade receivables | 29.97 | 0.00 | 20.99 | 20.97 | 56.91 | 109 | 58.99 | 51.99 |
| Cash & equivalents | 63.08 | 0.00 | 366 | 361 | 428 | 611 | 741 | 1,298 |
| Total Assets | 9,134 | 0.00 | 22,240 | 22,256 | 22,654 | 23,799 | 27,082 | 31,555 |
| Mar 2019 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Cash from operating activity | 934 | 798 | 1,161 | 1,393 | 1,526 | 2,017 | 2,412 |
| Cash from investing activity | −586 | 853 | −456 | −750 | −1,457 | −1,498 | −1,291 |
| Cash from financing activity | −355 | −1,498 | −751 | −454 | −164 | −471 | −916 |
| Net cash flow | −8.03 | 146 | −48.21 | 187 | −96.34 | 45.15 | 203 |
| Capex | 773 | 405 | 576 | 769 | 1,088 | 1,495 | 1,279 |
| Free cash flow | 165 | 395 | 590 | 628 | 444 | 531 | 1,144 |
| CFO / OP % | 107.0% | 102.0% | 97.0% | 101.0% | 97.0% | 122.0% | 113.0% |
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Debtor days | 9 | — | 8 | 5 | 10 | 17 | 9 | 7 |
| Cash conversion cycle | 9 | — | 8 | 5 | 10 | 17 | 9 | 7 |
| Working capital days | 309 | — | −382 | −328 | −232 | −404 | −310 | −509 |
| ROCE % | — | 0.0% | 6.0% | 5.0% | 6.0% | 7.0% | 7.0% | 8.0% |
For the Jun 2026 quarter, Mindspace Business Parks REIT reported sales of ₹942 Cr, up 27.8% year on year and net profit of ₹272 Cr, up 62.9% year on year. The operating margin was 74.9%.
Mindspace Business Parks REIT's sales for the year to Mar 2026 were ₹3,205 Cr; over the last twelve months they were ₹3,409 Cr.
Net profit for the year to Mar 2026 was ₹695 Cr, and ₹801 Cr over the last twelve months. Earnings per share over the same trailing period were ₹11.85.
Mindspace Business Parks REIT reported borrowings of ₹12,952 Cr at Mar 2026, against cash and equivalents of ₹1,298 Cr.
Cash from operations was ₹2,412 Cr in the year to Mar 2026; after capital spending, free cash flow was ₹1,144 Cr.