Mindspace Business Parks REIT · NSE:MINDSPACE.RR
Mindspace Business Parks REIT — Investor Presentation (August 2022)
24 slides from Mindspace Business Parks REIT's investor presentation, August 2022
Slide 1: Corporate Presentation
Corporate Presentation Aug 2022 mindspacereit.com 1
Slide 2: 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 Developed residential Operates 260+ retail Developed >34 msf 4 operational malls hotel keys projects across 5 cities outlets across India Group Hotels Partner with Marriott and A
Slide 3: 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 4: 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 5: Mindspace Business Parks REIT Portfolio Overview
Mindspace Business Parks REIT Portfolio Overview One of the largest Grade-A office portfolios in India 31.8 msf 85.6% INR 208 bn INR14.8 bn Committed Occupancy NOI in FY22 Total Leasable Area (1) Market capitalization(2) on 24.4 msf (2) Presence in 4 out of top 6 Indian office markets o Sponsored by
Slide 6: Key Highlights – FY22
Key Highlights – FY22 1 Operating Highlights 4.5 msf 2.2 msf 2.3 msf 66 tenants 1.6 msf Re-leased New & Vacant Leased signed across 66 Increase in Leasable area Gross Leasing (primarily include (Incl. hard option and area Leased tenants Re-development -1.0 msf & ancillary areas of 389 ksf) Kharadi B
Slide 7: Mindspace REIT – At a Glance (Q1 FY23)
Mindspace REIT – At a Glance (Q1 FY23) 1 Operating Highlights 0.9 msf 0.4 msf 0.5 msf 36.4 % INR 63 psf/month New and Vacant Area Re-leasing Spread (1) Average Rent for Area Gross Leasing Re-leased Area Leased on 0.5 msf Leased 2 Financial Highlights INR 2,811 Mn 6.9 % INR 4,014 Mn INR 9.9 Bn 6.9 %
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 Stemade Biotech Private • Chi
Slide 9: Portfolio Overview: Five Integrated Business Parks
Portfolio Overview: Five Integrated Business Parks Mindspace Madhapur Mindspace Airoli East Hyderabad | 11.7 msf Mumbai Region | 6.8 msf Largest Business Park Largest Business Park in Hyderabad in Mumbai Region Completed Area: 9.9 msf; Committed Occupancy: 90.6% Completed Area: 4.7 msf; Committed Oc
Slide 10: Portfolio Overview: Five Quality Independent Office Assets
Portfolio Overview: Five Quality Independent Office Assets Commerzone Porur Paradigm, Mindspace Malad Chennai | 0.8 msf (1) Mumbai Region | 0.7 msf Completed Area: 0.8 msf; Committed Occupancy: 36.5% Completed Area: 0.7 msf; Committed Occupancy: 93.6% The Square, Nagar Road Mindspace Pocharam The Sq
Slide 11: Diversified Portfolio of Marquee Tenants
Diversified Portfolio of Marquee Tenants Reduced concentration risk with top 10 tenants contributing 36.3% (Jun 22) vs. 38.6% (Jun 21) Diversified tenant mix across sectors Top 10 tenants Gross Contracted Rentals contribution (36.3%) (1) (1) % split by Gross Contracted Rentals % of total Gross Contr
Slide 12: De-Risked Portfolio with Staggered Development Pipeline
De-Risked Portfolio with Staggered Development Pipeline Significant room to grow the REIT portfolio through expansions within existing assets Under Construction Status: Historical development and expansion potential of our Portfolio Airoli (W) B9, Mumbai Region (1.1 msf) Commerzone Kharadi B5, Pune
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 Erstwhile Perspective Leasable Area 0.39 msf(1) Redevelopment Average performing mall, converted into a Leasable Area 1.31 msf (1) Key Terms of
Slide 14: 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 14
Slide 15: 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 15
Slide 16: Re-energising the Park with Building and Infra Upgrades
Re-energising the Park with Building and Infra Upgrades Before Current Façade of old building Revamped the building’s exterior façade Old entrance gate Renovated entrance gate 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 Madhapur identified assets Status: • 1.8 msf pre-leased (1) • Tenant has started fit-out work in the premises • OC received 8.
Slide 18: Key Financial Metrics
Key Financial Metrics Delivered consistent growth on key financial metrics Revenue (INR mn) (1) NOI (INR mn) (1) 4,916 4,703 4,014 3,997 4,419 3,730 4,269 4,218 4,237 3,586 3,583 3,618 3,595 4,171 Q3 FY21 Q4 FY21 Q1 FY22 Q2 FY22 Q3 FY22 Q4 FY22 Q1 FY23 Q3 FY21 Q4 FY21 Q1 FY22 Q2 FY22 Q3 FY22 Q4 FY22
Slide 19: Low Leverage Offers Balance Sheet Headroom for Future Growth
Low Leverage Offers Balance Sheet Headroom for Future Growth Low Net debt to market value of 16.6%(1) INR 44,446 Mn 16.6 % INR 3,805 Mn 6.9 % 5.8 years Net Debt to Undrawn Committed Cost of Debt Net Debt Market Value (1) Wt. Avg. Maturity Facilities (p.a.) Well staggered Debt expiry profile Facility
Slide 20: Unitholding Pattern as on 30 Jun 22
Unitholding Pattern as on 30 Jun 22 Unitholding Summary INR 20,799 Cr 37 % Market Cap (1) % Free- float 593 Mn units Unitholding Pattern (Market Cap : INR 20.8 Bn) (1) MF NIIs 9.5% NPS 0.2% Insurance 0.1% 1.1% AIFs Sponsors & Sponsor Public FIIs 0.6% Group (Others) 21.9% 63% 37% 32,727 Total Unithol
Slide 21: ESG Framework: Our Approach towards 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 Built one of the largest green portfolios with Participation in best-in-class benchmarking over 90% of completed buildings LEED/IGBC such as GRESB & DJSI certified Enhanced disclosures aligning with multiple Generated carbon credits through emission sustainabi
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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