Mindspace Business Parks REIT · NSE:MINDSPACE.RR
Mindspace Business Parks REIT — Investor Presentation (May 2023)
24 slides from Mindspace Business Parks REIT's investor presentation, May 2023
Slide 1: Corporate Presentation
Corporate Presentation May 2023 mindspacereit.com 1
Slide 2: Disclaimer
Disclaimer By attending the meeting where this presentation (“Presentation”) is made, or by reading the Presentation materials, you agree to be bound by the following limitations: This Presentation (a) is for information purposes only without regards to specific objectives, financial situations or n
Slide 3: Sponsored by One Of India's Leading Real Estate Player
Sponsored by One Of India’s Leading Real Estate Player Office Hospitality Malls Residential Retail 3,000+ (1) operational hotel Developed residential Operates 270+ retail Developed >36 msf 4 operational malls keys projects across 5 cities outlets across India Group Hotels Partner with Marriott and A
Slide 4: Pioneers in Creating Integrated Business Districts (1/2)
Pioneers in Creating Integrated Business Districts (1/2) Foresight to go to new areas and develop business districts which have grown to become major commercial hubs Mindspace Malad, Mumbai Region Mindspace Airoli East, Mumbai Region Year 2000 Year 2007 Today Today One of the first to set-up commerc
Slide 5: Pioneers in Creating Integrated Business Districts (2/2)
Pioneers in Creating Integrated Business Districts (2/2) Land which was once enveloped with boulders and rocks was successfully converted into one of the largest and most preferred business districts Mindspace Madhapur, Hyderabad Gera Commerzone Kharadi, Pune Year 2004 Year 2016 Today Today Today, M
Slide 6: Mindspace Business Parks REIT Portfolio Overview
Mindspace Business Parks REIT Portfolio Overview One of the largest Grade-A office portfolios in India 32.0 msf 89.0% INR 194 bn INR 17.1 bn Committed Occupancy NOI in FY23 Total Leasable Area (1) Market capitalization(2) on 25.8 msf Presence in 4 out of top 6 Indian office markets o Sponsored by K
Slide 7: Mindspace REIT – At a Glance (FY23)
Mindspace REIT – At a Glance (FY23) 1 Operating Highlights 4.1 msf 2.5 msf 1.6 msf 26.3 % INR 66 psf/month 1.9 msf Average Gross Leasing (1) New and Vacant Re-Leased Area (1) Re-leasing Spread (2) New Area Rent achieved Area Leased on 2.5 msf Completed (3) on Gross Leasing 2 Financial Highlights INR
Slide 8: Governing Board of the Manager
Governing Board of the Manager Six-member board with majority Independent Directors and an Independent Chairman Deepak Ghaisas Manisha Girotra Bobby Parikh Independent Member (Chairman) Independent Member Independent Member Experience Experience Experience • Chairman of Gencoval Group of • Chief Exe
Slide 9: Five Integrated Business Parks
Five Integrated Business Parks Mindspace Madhapur Mindspace Airoli East Hyderabad | 13.1 msf Mumbai Region | 5.6 msf Completed Area: 9.5 msf; Committed Occupancy: 95.4% Completed Area: 4.7 msf; Committed Occupancy: 88.3% Mindspace Airoli West Gera Commerzone Kharadi Commerzone Yerwada Mumbai Region
Slide 10: Five Quality Independent Office Assets
Five Quality Independent Office Assets Commerzone Porur Paradigm, Mindspace Malad Chennai | 0.9 msf (1) Mumbai Region | 0.7 msf Completed Area: 0.9 msf; Committed Occupancy: 93.5% Completed Area: 0.7 msf; Committed Occupancy: 97.9% The Square, Nagar Road Mindspace Pocharam The Square, BKC Pune | 0.8
Slide 11: Diversified Portfolio of Marquee Tenants
Diversified Portfolio of Marquee Tenants Top 10 tenants contributing 32.2% (Mar 23) vs. 36.5% (Mar 22) Diversified tenant mix across sectors Top 10 tenants Gross Contracted Rentals contribution (32.2%) (1) (1) % split by Gross Contracted Rentals % of total Gross Contracted Rentals # of parks Flexibl
Slide 12: Robust Development Pipeline in Each of Our Micro-markets
Robust Development Pipeline in Each of Our Micro-markets Historical development and expansion potential of our Portfolio 6.7 msf area added 6.2 msf in development pipeline Development pipeline (msf) 3.3 3.7 2.5 1.9 0.9 0.6 1 FY20 FY21 FY22 FY23 Area under-construction Future development Select Under
Slide 13: Value Maximization via Redevelopment and New Asset Classes
Value Maximization via. Redevelopment and New Asset Classes Redevelopment of old Venturing into new buildings Repurposing assets verticals like Data Centers Perspective – B1A-1B Perspective B1A-1B B7&8 B1A-1B Leasable 0.39 0.36 Average performing mall, converted into a Area msf(1) msf(1) Key Terms o
Slide 14: Re-energizing Parks with Building and Infra Upgrades
Re-energizing Parks with Building and Infra Upgrades Case Study - Mindspace Airoli East, Mumbai Region Revamping the Re-energised Renovation of Pedestrian Lightings & Refurbished building’s lobbies Entrance connection Signages Hardscape & exterior façade Gate under the Landscape podium Before After
Slide 15: Attracting Millennial Workforce of India
Attracting Millennial Workforce of India Amenities and high safety standards within our parks make us the partner of choice for occupiers Landscaped podiums Amphitheatre & lobby areas Club house and play area Biophilic landscaped gardens mindspacereit.com 15
Slide 16: Utilising Covid-19 downtime efficiently to create a WOW factor
Utilising Covid-19 downtime efficiently to create a “WOW” factor Matching world-class standards, while enhancing the biodiversity within the park Outside seating Refurbished hardscape & landscape Attractive aesthetics Clubhouse & foodcourt mindspacereit.com 16
Slide 17: ROFO Assets to Add Further Scale And Growth
ROFO Assets to Add Further Scale And Growth Strong pipeline spread across Mumbai Region, Chennai and Hyderabad Perspective Current Hyderabad | 1.8 msf 3 currently Commerzone Raidurg identified assets Status: • Completed • 1.8 msf leased • Rent Commenced for Phase I and II 8.6 msf Perspective Current
Slide 18: Key Financial Metrics
Key Financial Metrics Delivered consistent growth on key financial metrics Revenue (INR mn) (1) NOI (INR mn) (1) (2) 186 4,364 (2) 5,360 186 4,172 4,974 3,997 4,014 4,365 4,916 5,254 4,703 3,737 4,419 3,618 3,595 4,218 4,237 Q1 FY22 Q2 FY22 Q3 FY22 Q4 FY22 Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Q1 FY22 Q2
Slide 19: Low Leverage Offers Balance Sheet Headroom for Future Growth
Low Leverage Offers Balance Sheet Headroom for Future Growth INR 50,175 Mn 17.9 % INR 13,704 Mn 7.6 % 3.2 x Net Debt to Undrawn Committed Cost of Debt Net Debt (1) Market Value (1) Net Debt to EBITDA(4) Facilities (p.a.) Well staggered maturity profile with 10.4% maturity by FY24 Diversified debt Bo
Slide 20: Unitholding Pattern as on 31 Mar 2023
Unitholding Pattern as on 31 Mar 2023 Unitholding Summary INR 19,398 Cr 37 % Market Cap (1) % Free- float 593 Mn units Unitholding Pattern (Market Cap : INR 194 Bn) (1) MF NIIs 9.8% NPS Insurance 0.1% 0.2% 1.2% Sponsors & Sponsor Public AIFs Group (Others) 0.7% 63% 37% FIIs Total 21.4% Unitholders 5
Slide 21: Building a sustainable ecosystem
ESG Framework: Our Approach towards Building a Sustainable Ecosystem Our Purpose Building a sustainable ecosystem Strategic Pillars and Key Focus Areas Resource Conservation and Employee and Community Responsible Business Conduct Efficiency Relations • Human Capital • Human Rights & Ethical • Carbon
Slide 22: ESG: Our Journey So Far and Way Forward
ESG: Our Journey So Far and Way Forward Released First “Sustainability Report” Participation in best-in-class benchmarking such as DJSI Built one of the largest portfolios of LEED / IGBC certified buildings; >95% Green Certified Enhanced disclosures aligning with sustainability standards Journey ahe
Slide 23: Mindspace REIT Structure
Mindspace REIT Structure Efficient structure aiding higher tax-free distributions Unitholders Investment in Distribution Mindspace REIT Investment Manager Trust Trustee K Raheja Corp Mindspace Business Axis Trustee Services Investment Managers Parks REIT Limited LLP SPV: K Raheja IT Park (Hyderabad)
Slide 24: Thank You
Thank You Investor Relations Enquiries: Kedar Kulkarni (Finance & Investor Relations) Email id: [email protected] mindspacereit.com 24
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