Mindspace Business Parks REIT

•

mindspacereit.comBSE: 543217NSE: MINDSPACE

Market Cap₹ 0 Cr.

Current Price

High / Low₹ 512 / 417

Stock P/E—

Book Value—

Price to Book1.94

Dividend Yield0.00 %

ROCE7.7 %

ROE4.8 %

Face Value₹ 275

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ABOUT

KEY POINTS

Revenue Breakup Mar 2026 • Real Estate: 96.8% • Power Distribution: 3.2%

AI Sector View

AI GENERATED

Financial Services

Buy

Financials remain one of the clearest macro beneficiaries. Loan growth was 18.3% (Aug/26) versus deposit growth 14.7% (Aug/26), SCB credit growth was 17.5% YoY (2026-07), UPI transactions rose 22.0% YoY (2026-07), and M3 money supply grew 15.0% YoY (2026-07). Sector flows have also turned meaningfully supportive, with INR 13171 crore net FPI inflow over 3 months to 2026-08-31 after INR -114652 crore in the prior 3 months.

Confidence

84%

View full sector analysis →

PROS

Solid return on assets for a lender - ROA of 3.0%
Latest quarter profit grew 1529.6% YoY, showing strong momentum
Company has consistently been profitable over the last 5 years
Company has delivered good sales growth of 22.8% CAGR over last 5 years
Operating margins have improved to 75.4% from 67.9%

CONS

Company has a low return on equity of 4.1% over last 3 years
Company has a low return on capital employed of 7.0%
Recurring exceptional / one-off items are inflating headline profit
Though reporting repeated profits, the company pays out little dividend (0.0%)

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Financial ServicesFinanceFinance - Investment

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	BAJAJFINSV	1924.00	30.39	308236.60	0.08	62966.70	1081.55	420369.00	1091.26	11.88	40.79
2.	AIIL	512.35	20.74	43510.07	0.00	11082.20	1075.19	14695.40	1109.37	13.85	88.91
3.	CHOLAHLDNG	1525.85	10.74	28652.02	0.09	1788.99	42.04	11113.57	42.92	10.52	57.53
4.	TVSHLTD	13146.60	13.50	26598.34	0.65	1173.58	73.77	17076.18	40.01	19.39	16.25
5.	CGCL	272.25	23.23	26194.64	0.07	353.38	102.04	1576.47	62.12	11.68	68.54
6.	MAHSCOOTER	13098.50	53.75	14969.71	1.68	3.32	-90.61	5.41	-81.52	1.06	84.10
7.	JSWHL	11436.55	92.41	12694.14	0.00	24.54	-92.74	34.58	14.97	0.58	92.45
8.	JMFINANCIL	127.35	11.72	12186.88	2.55	368.57	-19.66	1200.53	9.69	11.91	58.30
9.	TSFINV	441.15	20.13	9798.11	2.53	124.95	-92.11	305.57	102.23	3.47	53.35
10.	RELIGARE	258.30	162.10	8904.47	0.00	-46.98	-674.86	2353.40	1051.76	4.71	-2.08
11.	KAMAHOLD	2288.70	7.89	7344.57	1.81	584.02	10.80	4657.56	7.07	20.86	22.01
12.	MINDSPACE	492.00	0.00	0.00	0.00	2718.12	1529.62	9464.38	1178.52	7.70	75.88

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	638	649	681	740	772	814	890	9,464
	181	179	197	496	191	186	207	6,038
Operating Profit	457	470	484	245	581	628	683	3,426
OPM %	71.63%	72.43%	71.05%	33.03%	75.23%	77.18%	76.79%	36.20%
	14	23	26	15	-26	19	25	230
Interest	130	144	156	203	204	209	220	2,561
Depreciation	98	106	104	115	118	122	124	1,195
Profit before Tax	242	242	249	259	233	316	364	3,657
Tax %	44.29%	40.16%	61.45%	35.61%	45.59%	39.23%	42.72%	25.66%
Net Profit	0	0	0	167	127	192	209	2,718
	2.12	2.29	1.45	2.57	1.91	2.96	3.08	3.99

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	1,151	1,761	2,298	2,462	2,596	3,216	11,940
	297	385	744	677	706	792	6,622
Operating Profit	855	1,376	1,554	1,785	1,890	2,424	5,319
OPM %	74.23%	78.15%	67.63%	72.50%	72.81%	75.38%	44.54%
	5	-68	-116	-34	43	65	248
Interest	171	265	344	458	559	838	3,194
Depreciation	209	329	355	383	406	479	1,559
Profit before Tax	479	714	738	911	968	1,172	4,570
Tax %	30.15%	37.38%	58.22%	38.37%	46.94%	40.78%	28.98%
Net Profit	335	447	308	561	514	694	3,246
EPS	7.73	7.15	4.78	8.85	7.81	10.05	—
Dividend Payout %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	—

COMPOUNDED SALES GROWTH

10 Years:: —
5 Years:: 23%
3 Years:: 12%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: 16%
3 Years:: 32%

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: —
1 Year:: —

RETURN ON EQUITY

10 Years:: —
5 Years:: 3%
3 Years:: 4%
Last Year:: 5%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	16,284	16,284	16,284	16,284	16,582	17,697
Minority Interest	910	851	796	760	756	750
	19	-663	-1,501	-2,115	-2,528	-2,651
	3,929	4,283	5,181	6,903	10,147	13,501
Trade Payables	52	70	71	109	131	115
	923	1,424	1,846	3,063	3,395	3,978
Total Liabilities	22,118	22,248	22,676	25,003	28,484	33,391
	141	154	130	113	116	107
Capital Work in Progress	2	1,350	787	1,457	738	1,645
	21,060	2	3	3	4	4
	4	3	7	4	5	5
	0	0	0	109	59	52
Cash & Bank	366	360	427	610	741	1,296
	544	20,380	21,322	22,706	26,821	30,281
Total Assets	22,118	22,248	22,676	25,003	28,484	33,391

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	855	1,340	1,567	1,527	2,017	2,414
Cash from Investing	941	-456	-751	-1,459	-1,500	-1,293
Cash from Financing	-1,504	-754	-456	-164	-473	-919
	235	-48	186	-96	45	202

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

No quarterly shareholding data found

We don't have this information yet. Please check back later.

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

No announcements filed.

News

Recent coverage and analyst commentary for MINDSPACE

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AI Stock Analyst

Mindspace Business Parks REIT

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Name

BAJAJFINSV

1924.00

30.39

308236.60

0.08

62966.70

1081.55

420369.00

1091.26

11.88

40.79

AIIL

512.35

20.74

43510.07

0.00

11082.20

1075.19

14695.40

1109.37

13.85

88.91

CHOLAHLDNG

1525.85

10.74

28652.02

0.09

1788.99

42.04

11113.57

42.92

10.52

57.53

TVSHLTD

13146.60

13.50

26598.34

0.65

1173.58

73.77

17076.18

40.01

19.39

16.25

CGCL

272.25

23.23

26194.64

0.07

353.38

102.04

1576.47

62.12

11.68

68.54

MAHSCOOTER

13098.50

53.75

14969.71

1.68

3.32

-90.61

5.41

-81.52

1.06

84.10

JSWHL

11436.55

92.41

12694.14

0.00

24.54

-92.74

34.58

14.97

0.58

92.45

JMFINANCIL

127.35

11.72

12186.88

2.55

368.57

-19.66

1200.53

9.69

11.91

58.30

TSFINV

441.15

20.13

9798.11

2.53

124.95

-92.11

305.57

102.23

3.47

53.35

RELIGARE

258.30

162.10

8904.47

0.00

-46.98

-674.86

2353.40

1051.76

4.71

-2.08

KAMAHOLD

2288.70

7.89

7344.57

1.81

584.02

10.80

4657.56

7.07

20.86

22.01

MINDSPACE

492.00

0.00

2718.12

1529.62

9464.38

1178.52

7.70

75.88

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

638

649

681

740

772

814

890

9,464

181

179

197

496

191

186

207

6,038

Operating Profit

457

470

484

245

581

628

683

3,426

OPM %

71.63%

72.43%

71.05%

33.03%

75.23%

77.18%

76.79%

36.20%

-26

230

Interest

130

144

156

203

204

209

220

2,561

Depreciation

106

104

115

118

122

124

1,195

Profit before Tax

242

249

259

233

316

364

3,657

Tax %

44.29%

40.16%

61.45%

35.61%

45.59%

39.23%

42.72%

25.66%

Net Profit

167

127

192

209

2,718

2.12

2.29

1.45

2.57

1.91

2.96

3.08

3.99

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

TTM

1,151

1,761

2,298

2,462

2,596

3,216

11,940

297

385

744

677

706

792

6,622

Operating Profit

855

1,376

1,554

1,785

1,890

2,424

5,319

OPM %

74.23%

78.15%

67.63%

72.50%

72.81%

75.38%

44.54%

-68

-116

-34

248

Interest

171

265

344

458

559

838

3,194

Depreciation

209

329

355

383

406

479

1,559

Profit before Tax

479

714

738

911

968

1,172

4,570

Tax %

30.15%

37.38%

58.22%

38.37%

46.94%

40.78%

28.98%

Net Profit

335

447

308

561

514

694

3,246

EPS

7.73

7.15

4.78

8.85

7.81

10.05

—

Dividend Payout %

0.00%

—

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Equity Capital

16,284

16,582

17,697

Minority Interest

910

851

796

760

756

750

-663

-1,501

-2,115

-2,528

-2,651

3,929

4,283

5,181

6,903

10,147

13,501

Trade Payables

109

131

115

923

1,424

1,846

3,063

3,395

3,978

Total Liabilities

22,118

22,248

22,676

25,003

28,484

33,391

141

154

130

113

116

107

Capital Work in Progress

1,350

787

1,457

738

1,645

21,060

109

Cash & Bank

366

360

427

610

741

1,296

544

20,380

21,322

22,706

26,821

30,281

Total Assets

22,118

22,248

22,676

25,003

28,484

33,391

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

855

1,340

1,567

1,527

2,017

2,414

Cash from Investing

941

-456

-751

-1,459

-1,500

-1,293

Cash from Financing

-1,504

-754

-456

-164

-473

-919

235

-48

186

-96

202

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Mindspace Business Parks REIT

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

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Mindspace Business Parks REIT

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI