News for Mindspace Business Parks REIT (MINDSPACE.BO)

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Office REITs in India see rise in occupancies and rents, driving strong demand and increasing distributions.

The real estate investment trust (Reit) acquired 100% equity shareholding in Sustain Properties Pvt. Ltd, a subsidiary of its sponsor K Raheja Corp.

Mindspace Business Parks REIT is acquiring the Commerzone Raidurg IT park in Hyderabad for Rs 2,038 crore, expanding its Hyderabad portfolio to around 15 million sq ft. The acquisition, fully leased to Qualcomm, increases the REITs total portfolio size to 36.6 million sq ft and boosts income stability.

Mindspace Business Parks REIT acquires Grade-A commercial property in Hyderabad, boosting portfolio size and occupancy.

Mindspace Business Parks REIT has acquired 18.2 lakh square feet of commercial space in Hyderabad for Rs 613 crore by taking over Sustain Properties Pvt Ltd. The board approved issuing 16,168,090 units of Mindspace REIT to Sustain Properties' shareholders as consideration. This is part of Mindspace's strategy to expand its rent-yielding portfolio.

Mindspace Business Parks REIT sees strong growth in Q3 with rising net operating income and leasing activity.

Mindspace Business Parks REIT leased over 1.7 million sq ft of office space, driven by demand from multinational companies establishing Global Capability Centers. The REIT also offered to acquire Sustain Properties and is evaluating additional acquisitions in Hyderabad, while reporting notable growth in revenue and net operating income for the quarter.

The rapid growth of quick commerce and manufacturing in India has fuelled the demand for warehousing

The Indian REITs Association has a new chairman. Alok Aggarwal will lead the organization. He is the CEO of Brookfield India Real Estate Trust. The association promotes the growth of REITs in India. Aggarwal aims to boost innovation and transparency in the sector. He brings over 30 years of real estate experience to the role.

Alok Aggarwal, MD and CEO of Brookfield India Real Estate Trust, has been appointed Chairman of the Indian REITs Association (IRA). The IRA, founded in 2023, aims to foster the growth of India's REIT sector. Aggarwal's leadership is expected to drive innovation and transparency, creating value for investors and contributing to the sustainable growth of REITs in India.

Stocks including HDFC Bank, Wipro, Vedanta, Rail Vikas Nigam, Indus Towers, RailTel Corp, Mindspace REIT, Gravita, HCC and more will be in the spotlight on Tuesday, December 17.

Buzzing stocks, stocks to watch: Zomato, Wipro, Vedanta, Indus Tower, Gabriel Pet, Shriram Properties, HCC, RailTel, PNB Gilts, Varun Beverages, Texmaco Rail

Stocks including Reliance Industries, Torrent Pharma, L&T, Voltas, RITES, Marico, Concor, Godavari Biorefineries and more will be the spotlight on Wednesday, October 30.

Stocks to watch on June 26: Vivek Karve has resigned as CFO of M&M Financial Services and Financial Services to pursue other interests

Buzzing Stocks Today, Stocks that will see action today: June 26, 2024 - Zee, Sanghi Cement, Ambuja Cements, , UltraTech Cement, NTPC, CE Info Sys, Tech Mahindra, Coforge, Cigniti, Alkem La, Mindspace REIT, M&M Financial, Punjab & Sind Bank, Vishnu Prakash, Time Technoplast, Gulshan Polyols, Inventure Growth, RattanIndia Enterprises

Domestic equity indexes fell as investors took profits, with the IT sector being the most affected. Several companies are set to announce their Q1 results from July 24-29.

Adani Enterprises, HDFC, Hero MotoCorp, TVS Motor, Sundram Fasteners, Tata Power, IDFC, SJVN, HG Infra, Datamatics, Mastek, Ritesh Properties, AstraZeneca, Seamec and GR Infraprojects are some of the stocks to watch today

The new index— Nifty Reits and InvITs index—aims to track the performance of Reits and InvITs that are publicly listed and traded on the NSE