Mindspace Business Parks REIT reported a 13.8 per cent rise in its net operating income for the June quarter at ₹457 crore, while revenue rose 14 per cent to ₹560.4 crore on strong leasing momentum.
The REIT leased out four lakh sq ft of office space in the quarter with a significant portion of it being leased out at a spread of 10.1 per cent.
In-place rents were 5.9 per cent higher on year at ₹66.2 per sq ft a month.
The trust said it was actively working on a pipeline of 2.5 million sq ft, while it had initiated work on 1.6 million sq ft of re-development projects.
It has announced a payout of ₹284.6 crore at ₹4.8 per unit for the quarter.