Construction Industry News
Mindspace REIT has released its Q2FY23 results. In Q2 FY23, the company's net operating income (NOI) growth rose 16 percent year-on-year to Rs 410 million. In H1 FY23, the company also reported an NOI of Rs 8.18 billion. More than 80 percent of the NOI margin was still present.
The market value of the company stood at 16.8 percent while the gross asset value of the portfolio rose to Rs 270 million in March 2022, an increase of 3.3 percent.
In Q2FY23, the company reported gross rent of approximately 1.3 million square feet, bringing the total for H1 FY23 to 2.1 million square feet. While in-place rentals rose 8.7 per cent year-on-year to Rs 63 per sq ft per month, the second-quarter re-let dispersion was 22.3 per cent on 0.8 msf of re-let area.
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