The REIT reported NOI of ₹496 crore on income of ₹620 crore, whereas dedicated occupancy was at 91.1 per cent.
It can pay out ₹299 crore for the quarter at ₹5.04 per unit, 5 per cent increased on 12 months.
Of the 1.1 million sq ft leased within the quarter, a million sq ft was re-leased with a diffusion of 23.9 per cent in Q1 of FY25. It noticed a gradual development in rents throughout its workplace parks ending the quarter with a month-to-month in-place lease of ₹70 per sq ft.
- Additionally learn: Mindspace REIT sees file leasing in This fall
Future plans
“This wholesome leasing, particularly at our Navi Mumbai Parks submit the SEZ coverage reform, has inspired us to prepone the long run growth at our Airoli East Park,” stated Chief Govt Officer Ramesh Nair. He stated it deliberate to construct an extra 1.5 million sq ft at Mindspace Airoli East for ₹900 crore. It will be investing ₹3,500 crore over the following three-four years on new developments.
“This, alongside our ongoing initiatives totalling 4.4 million sq ft and the potential lease up of two.3-million-sq-ft vacant area, positions us for vital development forward,” he added. Round 1.3 million sq ft might be accomplished within the present fiscal, comprising a million sq ft in Commerzone Kharadi and three lakh sq ft within the information centre at Airoli West.
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