Mindspace Business Parks REIT Reports Earnings Results for the Second Quarter and Six Months Ended September 30, 2023
October 30, 2023 at 09:03 am EDT
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Mindspace Business Parks REIT reported earnings results for the second quarter and six months ended September 30, 2023. For the second quarter, the company reported sales was INR 6,293 million compared to INR 6,789 million a year ago. Revenue was INR 6,403 million compared to INR 6,862 million a year ago. Net income was INR 1,412 million compared to INR 786 million a year ago. Basic earnings per share from continuing operations was INR 2.38 compared to INR 1.33 a year ago. Diluted earnings per share from continuing operations was INR 2.38 compared to INR 1.33 a year ago.
For the six months, sales was INR 12,191 million compared to INR 11,596 million a year ago. Revenue was INR 12,420 million compared to INR 11,714 million a year ago. Net income was INR 2,688 million compared to INR 1,967 million a year ago. Basic earnings per share from continuing operations was INR 4.53 compared to INR 3.32 a year ago. Diluted earnings per share from continuing operations was INR 4.53 compared to INR 3.32 a year ago.
Mindspace Business Parks REIT is an India-based real estate investment trust (REIT). The Company owns an office portfolio in India, including Mumbai Region, Hyderabad, Pune, and Chennai. The Companyâs portfolio in Mumbai region includes Mindspace Airoli East, Mindspace Airoli West, Paradigm Mindspace Malad and The Square and Avenue 61 (BKC). Its portfolio in Hyderabad includes Mindspace Madhapur and Mindspace Pocharam. The Companyâs portfolio in Pune includes Commerzone Yerwada, The Square Signature Business Chambers (Nagar Road) and Gera Commerzone Kharadi. Its portfolio in Chennai is Commerzone Porur. The Company's portfolio includes approximately five integrated business parks and five independent office buildings. The investment manager of the trust is K Raheja Corp Investment Managers Private Limited.