Mindspace Business Parks REIT

NSEI:MINDSPACE Stock Report

Market Cap: ₹326.2b

Mindspace Business Parks REIT Valuation

Is MINDSPACE undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Below Future Cash Flow Value

  • Significantly Below Future Cash Flow Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of MINDSPACE when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Ultimate guide to DCF valuation for stock investing

Learn how to determine fair value like the best investors in the world.

Below Future Cash Flow Value: MINDSPACE (₹492.69) is trading below our estimate of future cash flow value (₹563.48)

Significantly Below Future Cash Flow Value: MINDSPACE is trading below future cash flow value, but not by a significant amount.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for MINDSPACE?

Key metric: As MINDSPACE is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for MINDSPACE. This is calculated by dividing MINDSPACE's market cap by their current earnings.
What is MINDSPACE's PE Ratio?
PE Ratio50x
Earnings₹6.52b
Market Cap₹326.17b

Price to Earnings Ratio vs Peers

How does MINDSPACE's PE Ratio compare to its peers?

The above table shows the PE ratio for MINDSPACE vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average96x
EMBASSY Embassy Office Parks REIT
126.7x40.47%₹429.0b
BIRET Brookfield India Real Estate Trust
58.6x24.77%₹282.1b
KRT Knowledge Realty Trust
136.3x33.69%₹511.6b
NXST Nexus Select Trust
62.6x23.61%₹252.4b
MINDSPACE Mindspace Business Parks REIT
50x20.53%₹326.2b

Price-To-Earnings vs Peers: MINDSPACE is good value based on its Price-To-Earnings Ratio (50x) compared to the peer average (96x).

Historical Price to Earnings Ratio

Historical Price to Earnings Ratio compares a stock's price to its earnings over time. Higher ratios indicate that investors are willing to pay more for the stock.

Fetching historical data

Price to Earnings Ratio vs Industry

How does MINDSPACE's PE Ratio compare vs other companies in the Asian Office REITs Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
MINDSPACE 50.0xIndustry Avg. 14.1xNo. of Companies7PE0816243240+
0 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: MINDSPACE is expensive based on its Price-To-Earnings Ratio (50x) compared to the Asian Office REITs industry average (14.1x).

Price to Earnings Ratio vs Fair Ratio

What is MINDSPACE's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

MINDSPACE PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio50x
Fair PE Ratio52.5x

Price-To-Earnings vs Fair Ratio: MINDSPACE is good value based on its Price-To-Earnings Ratio (50x) compared to the estimated Fair Price-To-Earnings Ratio (52.5x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst MINDSPACE forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current₹492.69
₹507.87
+3.08%
7.97%₹545.00₹380.00n/a15
Jul ’27₹478.36
₹506.87
+5.96%
7.84%₹545.00₹380.00n/a15
Jun ’27₹462.60
₹506.20
+9.42%
7.82%₹545.00₹380.00n/a15
May ’27₹467.10
₹508.93
+8.95%
7.98%₹545.00₹380.00n/a14
Apr ’27₹449.98
₹510.93
+13.54%
7.93%₹558.00₹380.00n/a14
Mar ’27₹462.16
₹506.47
+9.59%
8.40%₹558.00₹380.00n/a15
Feb ’27₹490.92
₹506.47
+3.17%
8.40%₹558.00₹380.00n/a15
Jan ’27₹474.01
₹466.88
-1.51%
9.93%₹543.00₹370.00n/a16
Dec ’26₹464.83
₹468.19
+0.72%
9.84%₹543.00₹370.00n/a16
Nov ’26₹464.79
₹439.87
-5.36%
7.67%₹490.00₹370.00n/a15
Oct ’26₹455.26
₹437.87
-3.82%
7.76%₹490.00₹370.00n/a15
Sep ’26₹431.75
₹431.29
-0.11%
6.64%₹485.00₹370.00n/a14
Aug ’26₹412.52
₹413.00
+0.12%
4.57%₹436.00₹370.00n/a14
Jul ’26₹395.69
₹413.86
+4.59%
4.70%₹438.00₹370.00₹478.3614
Jun ’26₹394.98
₹411.36
+4.15%
4.89%₹438.00₹370.00₹462.6014
May ’26₹384.75
₹408.64
+6.21%
4.57%₹436.00₹370.00₹467.1014
Apr ’26₹366.61
₹401.71
+9.58%
3.60%₹421.00₹370.00₹449.9814
Mar ’26₹362.93
₹401.71
+10.69%
3.60%₹421.00₹370.00₹462.1614
Feb ’26₹375.88
₹401.71
+6.87%
3.60%₹421.00₹370.00₹490.9214
Jan ’26₹368.96
₹397.08
+7.62%
3.40%₹420.00₹370.00₹474.0113
Dec ’25₹368.53
₹395.14
+7.22%
3.74%₹420.00₹370.00₹464.8314
Nov ’25₹374.82
₹391.21
+4.37%
4.65%₹420.00₹360.00₹464.7914
Oct ’25₹353.54
₹382.31
+8.14%
6.11%₹419.00₹320.00₹455.2613
Sep ’25₹338.82
₹382.31
+12.84%
6.11%₹419.00₹320.00₹431.7513
Aug ’25₹345.73
₹382.31
+10.58%
6.11%₹419.00₹320.00₹412.5213
Jul ’25₹333.37
₹380.15
+14.03%
5.71%₹409.00₹320.00₹395.6913
₹507.87
Fair Value
3.0% undervalued intrinsic discount
15
Number of Analysts

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/07/18 10:56
End of Day Share Price 2026/07/17 00:00
Earnings2026/03/31
Annual Earnings2026/03/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Mindspace Business Parks REIT is covered by 27 analysts. 14 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Deep Shah360 ONE Capital Market Private Limited
null null360 ONE Capital Market Private Limited
Karan KhannaAmbit Capital