Mindspace Business Parks REIT (MINDSPACE) Stock Overview
Mindspace Business Parks REIT, sponsored by K Raheja Corp group, was listed on the Indian bourses in August 2020. More details
| Snowflake Score | |
|---|---|
| Valuation | 3/6 |
| Future Growth | 4/6 |
| Past Performance | 4/6 |
| Financial Health | 0/6 |
| Dividends | 4/6 |
MINDSPACE Community Fair Values
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Analyst Price Targets
Mindspace Business Parks REIT Competitors
Price History & Performance
| Historical stock prices | |
|---|---|
| Current Share Price | ₹461.36 |
| 52 Week High | ₹511.68 |
| 52 Week Low | ₹394.50 |
| Beta | 0.15 |
| 1 Month Change | -0.61% |
| 3 Month Change | -0.62% |
| 1 Year Change | 14.91% |
| 3 Year Change | 51.36% |
| 5 Year Change | 63.74% |
| Change since IPO | 51.91% |
Recent News & Updates
Narrative Update • Jun 16
MINDSPACE: Net Zero Commitments And Disciplined Funding Will Support Steady Future Distributions
Analysts keep the fair value estimate for Mindspace Business Parks REIT steady at ₹506.20. A slightly higher discount rate and minimal tweaks to revenue growth, profit margin, and forward P/E assumptions are guiding this unchanged price target.Narrative Update • Jun 01
MINDSPACE: Net Zero Roadmap And Prudent Funding Plans Will Support Steady Distributions
Analysts have trimmed the price target for Mindspace Business Parks REIT by ₹2 to ₹506.2, citing updated assumptions that reflect a slightly higher discount rate, a more moderate revenue growth outlook near 15.8% and a higher future P/E of about 44.6x, along with a marginally stronger profit margin profile. What's in the News Board meeting on May 19, 2026 to consider raising up to ₹165,000 million in non convertible debt securities, commercial papers or other permitted instruments.Narrative Update • May 18
MINDSPACE: Net Zero Commitments And Hyderabad Leasing Will Support Steady Future Distributions
Analysts have made a small upward revision to the fair value estimate for Mindspace Business Parks REIT, lifting the price target from ₹506.79 to ₹508.20. This change reflects updated views on the discount rate, revenue growth, profit margin and future P/E assumptions.Recent updates
Narrative Update • Jun 16
MINDSPACE: Net Zero Commitments And Disciplined Funding Will Support Steady Future Distributions
Analysts keep the fair value estimate for Mindspace Business Parks REIT steady at ₹506.20. A slightly higher discount rate and minimal tweaks to revenue growth, profit margin, and forward P/E assumptions are guiding this unchanged price target.Narrative Update • Jun 01
MINDSPACE: Net Zero Roadmap And Prudent Funding Plans Will Support Steady Distributions
Analysts have trimmed the price target for Mindspace Business Parks REIT by ₹2 to ₹506.2, citing updated assumptions that reflect a slightly higher discount rate, a more moderate revenue growth outlook near 15.8% and a higher future P/E of about 44.6x, along with a marginally stronger profit margin profile. What's in the News Board meeting on May 19, 2026 to consider raising up to ₹165,000 million in non convertible debt securities, commercial papers or other permitted instruments.Narrative Update • May 18
MINDSPACE: Net Zero Commitments And Hyderabad Leasing Will Support Steady Future Distributions
Analysts have made a small upward revision to the fair value estimate for Mindspace Business Parks REIT, lifting the price target from ₹506.79 to ₹508.20. This change reflects updated views on the discount rate, revenue growth, profit margin and future P/E assumptions.Narrative Update • Apr 27
MINDSPACE: Hyderabad Leasing, Capital Plans And Meetings Will Support Steady Future Distributions
Analysts have slightly trimmed their price target for Mindspace Business Parks REIT from ₹508.71 to ₹506.79, reflecting updated views on its revenue growth assumptions, profit margin outlook, and future P/E expectations. What's in the News Board meeting scheduled on Apr 29, 2026 to consider and approve audited standalone and consolidated financial statements and results for the quarter and year ended Mar 31, 2026, and to consider a distribution declaration for unitholders for the quarter ended Mar 31, 2026 (Key Developments).Narrative Update • Apr 11
MINDSPACE: Hyderabad Campus Development And Capital Plans Will Support Steady Future Distributions
Analysts have nudged their price target for Mindspace Business Parks REIT slightly higher, with fair value moving from about ₹506.47 to ₹508.71. This reflects updated assumptions around revenue growth, profit margins and future P/E expectations.Narrative Update • Mar 27
MINDSPACE: New Hyderabad Hotel Development Will Support Steady Future Distributions
Analysts have kept their price target for Mindspace Business Parks REIT steady at ₹506.47 per unit, reflecting unchanged assumptions on discount rate, revenue growth, profit margins and future P/E. Together, these factors indicate a consistent view of the REIT's valuation drivers.Narrative Update • Mar 13
MINDSPACE: Mixed Use Hotel Development Will Support Future Distribution Upside
Analysts have kept their price target for Mindspace Business Parks REIT steady at ₹506, reflecting unchanged views on fair value, discount rate, revenue growth, profit margin and future P/E assumptions. What's in the News K.Narrative Update • Feb 26
MINDSPACE: Acquisition Focus And Steady Outlook Will Guide Future Distributions
Analysts have maintained their fair value estimate for Mindspace Business Parks REIT at ₹506.47, with a slightly lower discount rate and a reduced future P/E assumption. Together, these factors support a steady price target despite the refined inputs.Narrative Update • Feb 11
MINDSPACE: Future Acquisitions And Funding Plans Will Shape Distribution Stability
Analysts have modestly raised their fair value estimate for Mindspace Business Parks REIT from ₹484.27 to ₹506.47, reflecting updated assumptions around discount rates, revenue growth, profit margins and future P/E. What's in the News Management plans to actively look for acquisition opportunities, with the CEO highlighting an intention to focus more on acquisitions to strengthen the portfolio in core markets and target high quality assets that fit the existing platform (Key Developments).Narrative Update • Jan 27
MINDSPACE: Future Acquisitions And Funding Plans Will Shape Distribution Stability
Analysts have slightly raised their price target on Mindspace Business Parks REIT to ₹484.27 from ₹480.56, citing modestly higher assumptions for revenue growth, profit margins and a slightly lower discount rate, while keeping future P/E expectations broadly in line with prior estimates. What's in the News A board meeting is scheduled for January 27, 2026 to review unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025, and to consider a distribution to unitholders for the quarter ended December 31, 2025 (company filing).Narrative Update • Jan 12
MINDSPACE: Future Acquisitions And Funding Decisions Will Shape Distribution Outlook
Narrative Update on Mindspace Business Parks REIT The analyst price target for Mindspace Business Parks REIT has been adjusted from ₹466.88 to ₹480.56, with analysts pointing to updated assumptions on the discount rate, revenue growth, profit margins and future P/E as the key drivers of this change. What's in the News Board meeting on October 17, 2025 to consider raising funds through fresh non convertible debt securities and commercial papers, along with proposed amendments to debenture terms related to net total debt to NOI and loan to value ratios for existing debentures of ₹50,00,00,00,000 face value (Board Meeting, Oct 17, 2025).Narrative Update • Dec 24
MINDSPACE: Future Acquisitions And Distributions Will Guide Measured Outlook Ahead
Narrative Update Analysts have maintained their price target for Mindspace Business Parks REIT at ₹466.88 per unit, reflecting largely unchanged expectations for growth, margins, and valuation multiples, even though there has been a modest increase in the assumed discount rate. What's in the News Board meeting scheduled for November 28, 2025, to consider a preferential issue of new Mindspace REIT units, subject to unitholder and regulatory approvals (board meeting agenda).Narrative Update • Dec 10
MINDSPACE: Acquisition Plans And Distributions Will Shape Balanced Outlook Ahead
Analysts have slightly reduced their price target on Mindspace Business Parks REIT from ₹468.19 to ₹466.88, citing a modest recalibration of discount rates and profit margin assumptions, despite slightly higher projected revenue growth. What's in the News A board meeting is scheduled for November 28, 2025, to consider a preferential issue of units, subject to unitholder and regulatory approvals (Key Developments).Narrative Update • Nov 25
MINDSPACE: Acquisitions And Improved Margins Will Influence Payout Outlook Ahead
Analysts have raised their price target for Mindspace Business Parks REIT from ₹450.67 to ₹468.19. This reflects upward revisions based on improved profit margin forecasts.Narrative Update • Nov 07
MINDSPACE: Board Meetings And Payout Decisions Will Shape Outlook Amid Steady Fundamentals
Analysts have raised their price target for Mindspace Business Parks REIT from ₹434.14 to ₹450.67, citing an improved revenue growth outlook and higher projected profit margins as key factors behind the revised estimate. What's in the News A board meeting is scheduled for November 5, 2025, to consider and approve the unaudited standalone and consolidated financial results for the quarter and half-year ending September 30, 2025.Narrative Update • Sep 26
Mumbai, Hyderabad And Pune Offices Will Fuel Future Momentum
The slight increase in Mindspace Business Parks REIT's future P/E multiple suggests a modestly more optimistic outlook, leading to a marginal upward revision in its consensus analyst price target from ₹431.29 to ₹434.14. What's in the News Board approved a distribution of INR 5.79 per unit, aggregating to INR 3,527.17 million for the June 2025 quarter; components include dividends, interest, other income, and SPV debt repayment.
New Narrative • Feb 06
Tech, BFSI, And Engineering Sectors Will Sustain Demand For India's Grade A Offices
Strong demand for Grade A office spaces in India, driven by tech and BFSI sectors, is expected to boost future revenue growth.Analysis Article • May 17
Mindspace Business Parks REIT Just Missed EPS By 25%: Here's What Analysts Think Will Happen Next
Shareholders might have noticed that Mindspace Business Parks REIT ( NSE:MINDSPACE ) filed its full-year result this...Shareholder Returns
| MINDSPACE | IN Office REITs | IN Market | |
|---|---|---|---|
| 7D | -0.6% | -0.3% | 2.1% |
| 1Y | 14.9% | -1.3% | 1.5% |
Return vs Industry: MINDSPACE exceeded the Indian Office REITs industry which returned -1.3% over the past year.
Return vs Market: MINDSPACE exceeded the Indian Market which returned 1.5% over the past year.
Price Volatility
| MINDSPACE volatility | |
|---|---|
| MINDSPACE Average Weekly Movement | 2.1% |
| Office REITs Industry Average Movement | 2.8% |
| Market Average Movement | 7.1% |
| 10% most volatile stocks in IN Market | 10.2% |
| 10% least volatile stocks in IN Market | 4.6% |
Stable Share Price: MINDSPACE has not had significant price volatility in the past 3 months compared to the Indian market.
Volatility Over Time: MINDSPACE's weekly volatility (2%) has been stable over the past year.
About the Company
| Founded | Employees | CEO | Website |
|---|---|---|---|
| 2019 | n/a | Ramesh Nair | www.mindspacereit.com |
Mindspace Business Parks REIT, sponsored by K Raheja Corp group, was listed on the Indian bourses in August 2020. The REIT owns quality office assets located in four key office markets of India, namely the Mumbai Region, Pune, Hyderabad, and Chennai, and has one of the largest Grade-A office portfolios globally. The portfolio has a total leasable area of 39.0 msf, comprising 31.9 msf of completed area, 3.6 msf of area under construction, and 3.5 msf of future development.
Mindspace Business Parks REIT Fundamentals Summary
| MINDSPACE fundamental statistics | |
|---|---|
| Market cap | ₹307.23b |
| Earnings (TTM) | ₹6.52b |
| Revenue (TTM) | ₹32.81b |
46.9x
P/E Ratio9.3x
P/S RatioIs MINDSPACE overvalued?
See Fair Value and valuation analysisEarnings & Revenue
| MINDSPACE income statement (TTM) | |
|---|---|
| Revenue | ₹32.81b |
| Cost of Revenue | ₹3.96b |
| Gross Profit | ₹28.85b |
| Other Expenses | ₹22.33b |
| Earnings | ₹6.52b |
Last Reported Earnings
Mar 31, 2026
Next Earnings Date
n/a
| Earnings per share (EPS) | 9.85 |
| Gross Margin | 87.92% |
| Net Profit Margin | 19.87% |
| Debt/Equity Ratio | 82.1% |
How did MINDSPACE perform over the long term?
See historical performance and comparisonDividends
5.2%
Current Dividend Yield63%
Payout RatioCompany Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/06/23 17:51 |
| End of Day Share Price | 2026/06/23 00:00 |
| Earnings | 2026/03/31 |
| Annual Earnings | 2026/03/31 |
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.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* 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.
| Analyst | Institution |
|---|---|
| null null | 360 ONE Capital Market Private Limited |
| Deep Shah | 360 ONE Capital Market Private Limited |
| Karan Khanna | Ambit Capital |