Mindspace Business Parks REIT, launched by K Raheja Corp and listed in August 2020, operates India’s largest Grade‑A business park portfolio. As of 31 March 2025, it manages 37.1 million sq ft (completed: 30 msf; under construction: 3.7 msf; future development: 3.4 msf) across major metro markets—Mumbai, Hyderabad, Pune, and Chennai—with over 225 corporate and multinational tenants at ~93% committed occupancy.
The portfolio spans three brands: Mindspace, Commerzone, and The Square, with flagship locations like Mindspace Airoli (East & West), Commerzone Raidurg (Hyderabad), and Commerzone Yerawada (Pune). Assets are tailored for sustainability and tenant well‑being, supported by ongoing redevelopment and high ESG standards.
📍 Corporate Office & Contact
- Registered Address: Raheja Tower, Level 8, Block G, Plot C‑30, Bandra Kurla Complex, Mumbai – 400051
- Tel: +91‑22‑2656 4000
- Email: reitcompliance@mindspacereit.com; investorgrievances@mindspacereit.com
- Website: www.mindspacereit.com
🏢 Facilities & Features
| Feature | Details |
| Asset Coverage | 37.1 msf total leasable area across 11 SPVs; ~59 completed buildings |
| Occupation | ~93% committed occupancy, housing ~225 tenants |
| Infrastructure | Grade‑A offices, landscaped gardens, food courts, ATMs, wellness zones |
| Connectivity | Located in nodes like Airoli, Malad, Madhapur, Raidurg, Yerawada, Porur |
| Services | In‑house property management, sustainability programs |
| Financials (FY25 Q4) | ₹ 6,780 Mn operating revenue; NOI ₹ 2,061.6 Cr; distribution ₹ 1,312 Cr; net income rose ~13% y‑o‑y |
| Green Initiatives | Projects include green bond issues, LEED/IGBC-rated buildings |
Google Maps Location
⏰ Operating Timings & Access
- Typical Hours: Standard building access aligns with tenant policies, usually Mon–Fri 9 am–6 pm (common access open round‑the‑clock for corporate/lease clients).
- After‑hours: Access facilitated as per tenancy & security protocol; campuses generally have 24×7 facility management.
🚉 Connectivity (Varies by Park)
Each park offers digitally integrated transport access:
- Mumbai Region: Airoli East/West and Malad locations linked to suburban rail, expressways, local bus networks
- Hyderabad (Madhapur, Raidurg): Proximity to HITEC City, metro corridors, IT transit nodes
- Pune and Chennai: Sites near Nagar Road, Kharadi, Porur with arterial road + bus/metro access
Most locations feature internal shuttles, drop‑off zones and pedestrian plazas.
💬 Reviews, Tenant Feedback & Community Sentiment
Operational Strengths
- Stable Financial Growth: Q4 FY25 saw NOI growth of ~13% y‑o‑y and record gross leasing of ~2.8 msf (₹ 7.6 msf in FY25)
- Tenant Diversity: Occupants include brands like Qualcomm, L&T, Accenture, Cognizant, Wipro, HDFC, BP, Hitachi
- High Infrastructure Quality: Integrated parks with wellness zones, cafes, tiered gardens, EV charging, fitness areas, and internal food courts.
Community Feedback on Ambience
- A Hyderabad Reddit user describes Mindspace as a surprisingly peaceful and green campus ideal for evening walks despite exterior traffic noise.
- Investor subreddit posts highlight board stability, consistent dividends, and resilience in rental income, though note market sensitivity.
✅ Pros & Cons Summary
👍 Pros
- National footprint: 37 msf across 4 major cities with high occupancy and lease stability
- Best‑in‑class infrastructure and sustainability credentials (LEED, IGBC, green bonds)
- Strong financials: solid returns, quarterly dividends, steadily increasing NAV
- Tenant services include integrated live‑work amenities, wellness initiatives, and tech‑enabled spaces
👎 Cons
- High exposure to MNCs and global corporates (~70% of rentals), shaping risk if downsizing occurs
- Operational complexity managing multi‑city large portfolio, potential logistical overheads
- As a listed REIT, asset value and returns are subject to market & regulatory volatility
