Earnings call transcript: Mindspace REIT posts record Q2 2026 DPU as growth stays strong
Mindspace Business Parks REIT announced record Q2 2026 earnings, with distribution per unit (DPU) reaching an all-time high of INR 6.67, a 14.4% increase year-over-year. Net operating income (NOI) climbed 31.9% to INR 836 crores. Revenue from operations surpassed the INR 10 billion mark for the first time in a quarter. Revenue, NOI and DPU all rose compared to the same period last year.
The company's occupancy rate of 96.1% for like-to-like committed leases represented another record high. Mindspace's strong performance was driven by robust demand in key office markets, particularly in Hyderabad, Navi Mumbai, Pune, Mumbai and Chennai. Assets with occupancy above 96% and assets at full 100% occupancy were seven in total, out of the company's 16 parks.
The REIT's portfolio remained highly occupied, with 10 of its 16 assets achieving over 96% occupancy and seven assets attaining full occupancy.
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