Mindspace REIT buys commercial asset in Hyderabad for Rs 2,038 crore

Quick Summary:

The board of directors at the Reit also approved a preferential issue of units aggregating up to Rs 613 crore.

The acquisition adds Rs 167 crore to the REIT’s FY25 NOI on a proforma basis, implying a growth of 8.2 per cent.

The Reit is expecting a stable income due to this fully leased asset, as the space is occupied by Qualcomm, a Fortune 500 company.

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Article Details

Category: BusinessFinance

Markets: India

Topics: Real estate Real estate firms Hyderabad Mindspace Reit Mindspace

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-01-29 @ 13:51:02 (1 days ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 387 words

Reading Time: 3 minutes read

Sentences: 13 lines

Sentence Length: 30 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Standard

News ID: 25600936

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