Mindspace Business Parks REIT

•

mindspacereit.comBSE: 543217NSE: MINDSPACE

Market Cap₹ 0 Cr.

Current Price

High / Low₹ 512 / 417

Stock P/E0.0

Book Value₹ 0

Price to Book1.65

Dividend Yield0.00 %

ROCE5.3 %

ROE4.2 %

Face Value₹ 275

Add ratio to table

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 1044.7% YoY, showing strong momentum
Company has delivered good sales growth of 16.0% CAGR over last 5 years
Company generates healthy free cash flow

CONS

Company has a low return on capital employed of 5.7%
Company has a low return on equity of 4.9% over last 3 years
Effective tax rate is unusually low at 0.6% - earnings may be flattered
Company has delivered a poor profit growth of 4.4% over past five years
Though reporting repeated profits, the company pays out little dividend (0.0%)
Growth is decelerating - 3Y profit CAGR (-14.2%) trails the 5Y trend (4.4%)

* 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	1990.00	31.43	318810.21	0.08	6296.67	18.15	42036.90	92.22	11.88	40.79
2.	AIIL	510.20	20.65	43327.49	0.00	11082.20	1075.19	14695.40	1109.37	30.27	88.91
3.	CHOLAHLDNG	1487.10	10.46	27924.39	0.09	1788.99	42.04	11113.57	42.92	10.52	57.53
4.	TVSHLTD	13055.20	13.41	26413.42	0.66	1173.58	73.77	17076.18	40.01	19.39	16.25
5.	CGCL	256.20	21.86	24650.38	0.08	353.38	102.04	1576.47	62.12	11.68	68.54
6.	MAHSCOOTER	13572.20	55.69	15511.08	1.62	3.32	-90.61	5.41	-81.52	1.06	84.10
7.	JSWHL	11458.70	92.58	12718.73	0.00	24.54	-92.74	34.58	14.97	0.58	92.45
8.	JMFINANCIL	129.45	11.91	12387.85	2.51	368.57	-19.66	1200.53	9.69	11.91	58.30
9.	TSFINV	403.15	18.39	8954.12	2.77	124.95	-92.11	305.57	102.23	3.47	53.35
10.	RELIGARE	247.65	155.41	8537.33	0.00	-46.98	-674.86	2353.40	1051.76	-1.28	-2.08
11.	KAMAHOLD	2341.45	8.07	7513.85	1.77	584.02	10.80	4657.56	7.07	20.86	22.01
12.	MINDSPACE	501.24	0.00	0.00	0.00	2718.12	1529.62	9464.38	1178.52	7.70	75.88

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	0	0	0	0	0	0	0	0
	6	5	8	107	8	7	9	1,824
Operating Profit	-6	-5	-7	-7	-8	-7	-9	-81
OPM %	—	—	—	—	—	—	—	—
Other Income	293	290	284	290	318	307	373	3,940
Interest	88	94	90	100	123	144	163	1,743
Depreciation	0	0	0	0	0	0	0	0
	198	191	186	183	188	156	202	2,116
Tax %	0.16%	1.28%	1.14%	0.48%	0.70%	1.12%	0.38%	1.41%
Net Profit	198	189	184	182	187	155	201	2,086
	3	3	3	0	3	3	3	3
Equity Capital	0	0	0	0	0	0	0	0
Reserves	0	0	0	0	0	0	0	0
Promoter Pledge %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	613	1,201	1,278	1,401	967	1,289	0
	8	12	17	18	23	30	1,847
Operating Profit	607	1,190	1,265	1,384	945	1,259	—
OPM %	99	99	99	99	98	98	—
Other Income	1	1	4	1	0	0	4,938
Interest	23	87	114	222	348	529	2,172
Depreciation	0	0	0	0	0	0	0
	584	1,104	1,151	1,162	597	729	2,662
Tax %	0	0	0	0	1	1	1
Net Profit	583	1,103	1,149	1,161	592	725	2,628
EPS	15	19	19	20	10	11	—
Dividend Payout %	0	0	0	0	0	0	—
Minority Interest	0	0	0	0	0	0	0
Share of Associates	0	0	0	0	0	0	0
Adjusted EPS	10	19	19	20	10	11	—

COMPOUNDED SALES GROWTH

10 Years:: —
5 Years:: 16%
3 Years:: 0%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: 4%
3 Years:: -14%

STOCK PRICE CAGR

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

RETURN ON EQUITY

10 Years:: —
5 Years:: 6%
3 Years:: 5%
Last Year:: 4%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
LIABILITIES	-	-	-	-	-
Equity Capital	16,284	16,284	16,284	16,582	17,697
	292	320	343	46	-4
	0	0	1,093	586	2,401
Trade Payables	1	2	1	2	1
	1,725	2,247	2,472	4,055	6,410
Total Liabilities	18,302	18,852	20,193	21,271	26,506
ASSETS	-	-	-	-	-
	15,310	15,310	15,410	16,225	18,046
Cash & Bank	281	298	304	28	123
	2,710	3,244	4,479	5,018	8,338
Total Assets	18,302	18,852	20,193	21,271	26,506
Total Debt	1,642	2,189	3,474	4,616	8,754
Net Working Capital	281	292	305	81	175
Contingent Liabilities	1,653	1,643	1,448	0	0
Book Value per Share	279.51	279.99	280.37	272.96	272.90
Face Value	274.59	274.59	274.59	272.20	272.96

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	-11	-12	-20	-15	-29	-37
Cash from Investing	-1,525	633	749	66	235	-2,030
Cash from Financing	1,829	-633	-712	-45	-482	2,161
	294	-12	17	5	-276	94
Free Cash Flow	-11	-12	-20	-15	-29	-37
OCF / Net Profit	-0.02	-0.01	-0.02	-0.01	-0.05	-0.05
Cumulative 5-Year FCF	0	0	0	0	0	0

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
PER SHARE
EPS (₹)	9.84	18.60	19.38	19.58	9.71	11.18
Book Value (₹)	279.56	279.51	279.99	280.37	272.96	272.90
Dividend per Share (₹)	0.00	0.00	0.00	0.00	0.00	0.00
Cash EPS (₹)	9.84	18.60	19.38	19.58	9.71	11.18
PROFITABILITY
Operating Margin %	98.97%	99.08%	98.93%	98.75%	97.64%	97.67%
Net Margin %	95.12%	91.81%	89.88%	82.88%	61.16%	56.23%
ROE %	3.52%	6.65%	6.93%	6.99%	3.56%	4.22%
ROCE %	3.43%	6.62%	6.83%	7.12%	4.57%	5.28%
	3.29%	6.12%	6.19%	5.95%	2.85%	3.03%
EFFICIENCY
Debtor Days	0	0	0	0	0	0
Inventory Days	0	0	0	0	0	0
Payable Days	0	0	0	0	0	0
	0	0	0	0	0	0
FINANCIAL HEALTH
Debt to Equity (x)	0.07x	0.10x	0.13x	0.21x	0.28x	0.49x
Interest Coverage (x)	26.28x	13.73x	11.10x	6.23x	2.71x	2.38x
	71.93x	1.51x	2.43x	1.26x	1.13x	1.07x
GROWTH
Revenue Growth %	0.00%	95.89%	6.42%	9.59%	-30.96%	33.23%
Operating Profit Growth %	0.00%	96.10%	6.26%	9.44%	-31.74%	33.21%
Net Profit Growth %	0.00%	89.06%	4.18%	1.05%	-49.05%	22.48%
	0.00%	0.00%	0.00%	1.05%	-50.41%	15.09%
VALUATION
P/E (x)	0.00x	0.00x	0.00x	17.55x	38.61x	40.20x
P/B (x)	0.00x	0.00x	0.00x	1.23x	1.37x	1.65x
Dividend Yield %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	0.00x	0.00x	0.00x	17.01x	29.03x	30.00x

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

Loading news…

🤖

AI Stock Analyst

Mindspace Business Parks REIT

🔒

Sign in to Chat with AI

✨ Sign In to Chat

Free 5nance Account

Name

BAJAJFINSV

1990.00

31.43

318810.21

0.08

6296.67

18.15

42036.90

92.22

11.88

40.79

AIIL

510.20

20.65

43327.49

0.00

11082.20

1075.19

14695.40

1109.37

30.27

88.91

CHOLAHLDNG

1487.10

10.46

27924.39

0.09

1788.99

42.04

11113.57

42.92

10.52

57.53

TVSHLTD

13055.20

13.41

26413.42

0.66

1173.58

73.77

17076.18

40.01

19.39

16.25

CGCL

256.20

21.86

24650.38

0.08

353.38

102.04

1576.47

62.12

11.68

68.54

MAHSCOOTER

13572.20

55.69

15511.08

1.62

3.32

-90.61

5.41

-81.52

1.06

84.10

JSWHL

11458.70

92.58

12718.73

0.00

24.54

-92.74

34.58

14.97

0.58

92.45

JMFINANCIL

129.45

11.91

12387.85

2.51

368.57

-19.66

1200.53

9.69

11.91

58.30

TSFINV

403.15

18.39

8954.12

2.77

124.95

-92.11

305.57

102.23

3.47

53.35

RELIGARE

247.65

155.41

8537.33

0.00

-46.98

-674.86

2353.40

1051.76

-1.28

-2.08

KAMAHOLD

2341.45

8.07

7513.85

1.77

584.02

10.80

4657.56

7.07

20.86

22.01

MINDSPACE

501.24

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

107

1,824

Operating Profit

-6

-5

-7

-8

-7

-9

-81

OPM %

—

Other Income

293

290

284

290

318

307

373

3,940

Interest

100

123

144

163

1,743

Depreciation

198

191

186

183

188

156

202

2,116

Tax %

0.16%

1.28%

1.14%

0.48%

0.70%

1.12%

0.38%

1.41%

Net Profit

198

189

184

182

187

155

201

2,086

Equity Capital

Reserves

Promoter Pledge %

0.00%

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

TTM

613

1,201

1,278

1,401

967

1,289

1,847

Operating Profit

607

1,190

1,265

1,384

945

1,259

—

OPM %

—

Other Income

4,938

Interest

114

222

348

529

2,172

Depreciation

584

1,104

1,151

1,162

597

729

2,662

Tax %

Net Profit

583

1,103

1,149

1,161

592

725

2,628

EPS

—

Dividend Payout %

—

Minority Interest

Share of Associates

Adjusted EPS

—

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

LIABILITIES

Equity Capital

16,284

16,582

17,697

292

320

343

-4

1,093

586

2,401

Trade Payables

1,725

2,247

2,472

4,055

6,410

Total Liabilities

18,302

18,852

20,193

21,271

26,506

ASSETS

15,310

15,410

16,225

18,046

Cash & Bank

281

298

304

123

2,710

3,244

4,479

5,018

8,338

Total Assets

18,302

18,852

20,193

21,271

26,506

Total Debt

1,642

2,189

3,474

4,616

8,754

Net Working Capital

281

292

305

175

Contingent Liabilities

1,653

1,643

1,448

Book Value per Share

279.51

279.99

280.37

272.96

272.90

Face Value

274.59

272.20

272.96

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

-11

-12

-20

-15

-29

-37

Cash from Investing

-1,525

633

749

235

-2,030

Cash from Financing

1,829

-633

-712

-45

-482

2,161

294

-12

-276

Free Cash Flow

-11

-12

-20

-15

-29

-37

OCF / Net Profit

-0.02

-0.01

-0.02

-0.01

-0.05

Cumulative 5-Year FCF

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

PER SHARE

EPS (₹)

9.84

18.60

19.38

19.58

9.71

11.18

Book Value (₹)

279.56

279.51

279.99

280.37

272.96

272.90

Dividend per Share (₹)

0.00

Cash EPS (₹)

9.84

18.60

19.38

19.58

9.71

11.18

PROFITABILITY

Operating Margin %

98.97%

99.08%

98.93%

98.75%

97.64%

97.67%

Net Margin %

95.12%

91.81%

89.88%

82.88%

61.16%

56.23%

ROE %

3.52%

6.65%

6.93%

6.99%

3.56%

4.22%

ROCE %

3.43%

6.62%

6.83%

7.12%

4.57%

5.28%

3.29%

6.12%

6.19%

5.95%

2.85%

3.03%

EFFICIENCY

Debtor Days

Inventory Days

Payable Days

FINANCIAL HEALTH

Debt to Equity (x)

0.07x

0.10x

0.13x

0.21x

0.28x

0.49x

Interest Coverage (x)

26.28x

13.73x

11.10x

6.23x

2.71x

2.38x

71.93x

1.51x

2.43x

1.26x

1.13x

1.07x

GROWTH

Revenue Growth %

0.00%

95.89%

6.42%

9.59%

-30.96%

33.23%

Operating Profit Growth %

0.00%

96.10%

6.26%

9.44%

-31.74%

33.21%

Net Profit Growth %

0.00%

89.06%

4.18%

1.05%

-49.05%

22.48%

0.00%

1.05%

-50.41%

15.09%

VALUATION

P/E (x)

0.00x

17.55x

38.61x

40.20x

P/B (x)

0.00x

1.23x

1.37x

1.65x

Dividend Yield %

0.00%

0.00x

17.01x

29.03x

30.00x

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

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