Mindspace Business Parks REIT

494.98-0.6%

2026-08-21

mindspacereit.comBSE: 543217NSE: MINDSPACE
Market Cap₹ 0 Cr.
Current Price₹ 332
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

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ABOUT

KEY POINTS

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

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

EDIT COLUMNS
S.No.NameCMP Rs.P/EMar Cap Rs.Cr.Div Yld %NP Qtr Rs.Cr.Qtr Profit Var %Sales Qtr Rs.Cr.Qtr Sales Var %ROCE %OPM %
1.BAJAJFINSV2028.6532.04325002.170.076296.6718.1542036.9092.2211.8840.79
2.AIIL552.8022.3746945.190.0011082.201075.1914695.401109.3730.2788.91
3.CHOLAHLDNG1560.0010.9829293.280.081788.9942.0411113.5742.9210.5257.53
4.TVSHLTD13924.3514.3028171.890.621173.5873.7717076.1840.0119.3916.25
5.CGCL224.1019.1221561.870.09353.38102.041576.4762.1211.1868.54
6.MAHSCOOTER13133.800.0015010.051.683.32-90.615.41-81.521.0684.10
7.JSWHL11268.7591.0512507.890.0024.54-92.7434.5814.970.5892.45
8.JMFINANCIL128.3511.8112282.582.53368.57-19.661200.539.6911.9158.30
9.TSFINV417.1519.039265.062.67124.95-92.11305.57102.233.4753.35
10.RELIGARE231.45145.257978.860.00-46.98-674.862353.401051.7611.46-2.08
11.KAMAHOLD2422.458.357773.781.71584.0210.804657.567.0720.8622.01
12.MINDSPACE494.700.000.000.002718.121529.629464.381178.527.7075.88
Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

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

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

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

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

Corporate actions

2026

Aug 7

2026

Aug 7

2026

May 5

Income Distribution RITES

2026

Jan 30

2025

Nov 7

2025

May 6

Income Distribution RITES

2025

Jan 29

Income Distribution RITES

2024

Oct 30

2024

Aug 2

Income Distribution RITES

2024

May 9

2024

Feb 6

2023

Nov 6

2023

Jul 31

2023

May 10

2023

Feb 6

2022

Nov 18

2022

Aug 11

2022

May 17

2022

Feb 15

2021

Nov 17

2021

Aug 17

2021

May 20

2025

Jul 28

Income Distribution RITES

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

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

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

Ratios

Standalone Figures in Rs. Crores / View Consolidated

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

Shareholding Pattern

Numbers in percentages

TRADES

No quarterly shareholding data found

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Credit Ratings

Nothing filed yet.

Concalls

  • Jan 2026

    TranscriptPPTREC
  • Dec 2025

    TranscriptPPTREC
  • Nov 2025

    TranscriptPPTREC