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Hold Mindspace Business Parks REIT Ltd For Traget Rs 339 ICICI Securities Mindspace Business Parks REIT  Steady leasing traction  Mindspace Business Parks REIT (MREIT) delivered a resilient performance in Q2FY23 with office rental collections of over 99% and 4% QoQ increase in NOI to Rs4.2bn at a NOI margin of 83.9%. Overall portfolio occupancy as of Sep’22 was at 82.8% (up 70bps QoQ) with committed occupancy at 86.9% (up 130bps QoQ). In H1FY23, of the 0.8msf of expiries, the REIT manager has re-leased 0.6msf of space (0.2msf space vacated) an...
Hold Mindspace Business Parks REIT Ltd For Traget Rs 339 ICICI Securities
Hold Mindspace Business Parks REIT Ltd For Traget Rs 339 ICICI Securities
Source: ICICI Securities
10/01/2023 3:02:09 PM
Add Mindspace Business Parks REIT Ltd For Target Rs.352 - ICICI Securities Recovery on track Mindspace Business Parks REIT (MREIT) delivered a resilient performance in Q2FY22 with office rental collections of over 99% and flattish QoQ revenue/NOI of Rs4.3/3.6bn at a healthy NOI margin of 84.4%. Further, portfolio occupancy rose 120bps QoQ to 81.5% on the back of 0.5msf of new/vacant area leasing during the quarter. We believe that the REIT’s low leverage (net debt/TEV of 0.2x), marquee tenant profile and pick up in leasing momentum will enable the REIT to d...
Add Mindspace Business Parks REIT Ltd For Target Rs.352 - ICICI Securities
Add Mindspace Business Parks REIT Ltd For Target Rs.352 - ICICI Securities
Source: ICICI Securities
9/01/2023 2:52:14 PM
Mindspace Business Parks REIT trades higher on raising Rs 100 crore via commercial papers issuance Mindspace Business Parks REIT is currently trading at Rs. 339.82, up by 1.06 points or 0.31% from its previous closing of Rs. 338.76 on the BSE. The scrip opened at Rs. 338.76 and has touched a high and low of Rs. 340.74 and Rs. 336.75 respectively. So far 775 shares were traded on the counter. The BSE group 'IF' stock of face value Rs. 274.59 has touched a 52 week high of Rs. 388.00 on 14-Sep-2022 and a 52 week low of Rs. 311.49 on 10-Jan-2022. Last one week high and low of ...
Mindspace Business Parks REIT trades higher on raising Rs 100 crore via commercial papers issuance
Mindspace Business Parks REIT trades higher on raising Rs 100 crore via commercial papers issuance
Source: Accord Fintech
21/12/2022 3:25:53 PM
Buy Mindspace Business Parks REIT Ltd For Target Rs.375 - JM Financial Institutional Securities Leasing uptick; acquisitions ahead Mindspace REIT reported a steady quarter with leasing momentum improving and expiries remaining minimal (c.2-5% of annual gross rentals over the next 3 years). Committed Occupancy increased to 86.9% (85.6% in Jun’22) led by Commerzone Porur (+23% ppt), Airoli West (+1.5%) and Madhapur (+1.6%) on broad-based traction, and the REIT aims to increase that to c.90% by FY23-end. Actual occupancies stood at 82.8% and are likely to converge with committed o...
Buy Mindspace Business Parks REIT Ltd For Target Rs.375 - JM Financial Institutional Securities
Buy Mindspace Business Parks REIT Ltd For Target Rs.375 - JM Financial Institutional Securities
Source: JM Financial Institutional Securities Ltd
14/12/2022 10:24:44 AM
Update on Mindspace Business Parks REIT Ltd By Motilal Oswal Momentum in office leasing picking up Capitalizing the opportunities in supply constrained markets We attended the analyst meet and the tour of Mindspace REIT’s (MREIT) assets. The management is focusing on three key pillars: a) office leasing, b) low density offering, and c) ESG. The key takeaways from our interaction are detailed below: * Physical occupancy is expected to increase to 60-70% by year-end from 30-35% in May’22. Momentum in office leasing is picking up...
Update on Mindspace Business Parks REIT Ltd By Motilal Oswal
Update on Mindspace Business Parks REIT Ltd By Motilal Oswal
Source: Motilal Oswal Financial Services Ltd
20/06/2022 12:27:56 PM
Add Mindspace Business Parks REIT Ltd For Target Rs.365 - ICICI Securities On the cusp of a recovery Mindspace Business Parks REIT (MREIT) delivered a resilient performance in Q4FY22 with office rental collections of over 99% and 6% QoQ revenue/NOI increase at Rs4.7/4.0bn at a healthy NOI margin of 84.8%. Overall portfolio occupancy remained flat QoQ at 82.2% (committed occupancy at 84.3%). In FY23E, the area scheduled for expiry stands at 1.1msf of which the REIT manager expects to release at least 60% area and expects portfolio occupancy levels to cross 90% by ...
Add Mindspace Business Parks REIT Ltd For Target Rs.365 - ICICI Securities
Add Mindspace Business Parks REIT Ltd For Target Rs.365 - ICICI Securities
Source: ICICI Securities Ltd
16/05/2022 2:41:07 PM
Hold Mindspace Business Parks REIT Ltd For Target Rs.359 - ICICI Securities Recovery on track Mindspace Business Parks REIT (MREIT) delivered a resilient performance in Q3FY22 with office rental collections of over 99% and 3% QoQ revenue/NOI increase at Rs4.4/3.7bn at a healthy NOI margin of 84.4%. Further, portfolio occupancy rose marginally by 50ps QoQ to 82.0%. The REIT manager has also been able to achieve an early re-leasing of 0.23msf for FY23E and 0.25msf for FY24E during the quarter. In FY23E, the area scheduled for expiry stands at 1.1msf of which the REI...
Hold Mindspace Business Parks REIT Ltd For Target Rs.359 - ICICI Securities
Hold Mindspace Business Parks REIT Ltd For Target Rs.359 - ICICI Securities
Source: ICICI Securities Ltd
10/03/2022 12:17:01 PM
Buy Mindspace Business Parks REIT Ltd For Target Rs.341 - ICICI Securities Resilient in tough times Mindspace Business Parks REIT (MREIT) delivered a resilient performance in Q1FY22 with office rental collections of over 99% and flattish QoQ revenue/NOI of Rs4.2/3.6bn at a healthy NOI margin of 85.7%. While same-store occupancy declined by 150bps QoQ to 80.3%, a key positive was re-leasing of 0.5msf of space vacated in FY21 and 0.4msf of re-leasing of FY22 expiries during the quarter. With another 1.6msf of expiries in the remainder of FY22, portfolio vacancy lev...
Buy Mindspace Business Parks REIT Ltd For Target Rs.341 - ICICI Securities
Buy Mindspace Business Parks REIT Ltd For Target Rs.341 - ICICI Securities
Source: ICICI Securities
19/10/2021 10:52:46 AM
Buy Mindspace Business Parks REIT Ltd For Target Rs.325 - ICICI Securities Resilient in tough times Mindspace Business Parks REIT (MREIT) delivered a resilient performance in FY21 in a Covid impacted year with a NOI growth of 12% and H2FY21 NDCF distribution of Rs9.6/unit. In spite of COVID-19 headwinds which led to FY21 occupancies declining by 300-500bps in key assets, the REIT achieved 99% collection efficiency in office rentals and achieved gross leasing of 3.5msf with an average re-leasing spread of 19.1%. Owing to the second Covid wave in India, the MREI...
Buy Mindspace Business Parks REIT Ltd For Target Rs.325 - ICICI Securities
Buy Mindspace Business Parks REIT Ltd For Target Rs.325 - ICICI Securities
Source: ICICI Securities
16/08/2021 12:40:04 PM
Add Mindspace Business Parks REIT Ltd : Near-term weakness to persist - ICICI Securities Add Mindspace Business Parks REIT Ltd For Target Rs.318 Mindspace Business Parks REIT (MREIT) delivered an inline Q4FY21 performance with office rental collections of over 99% and revenue/NOI of Rs4.3/3.6bn at a healthy NOI margin of 83.9%. MREIT announced its second quarterly NDCF of Rs2.85bn or Rs4.81/unit. However, a dampener was overall portfolio occupancy falling by 350bps QoQ to 81.8% from 85.3% with exits in Hyderabad and Airoli West assets. With another 2.3msf of expiries in FY22E,...
Add Mindspace Business Parks REIT Ltd : Near-term weakness to persist - ICICI Securities
Add Mindspace Business Parks REIT Ltd : Near-term weakness to persist - ICICI Securities
Source: ICICI Direct
4/06/2021 11:23:28 AM