Mindspace Business Parks REIT

Mindspace Busine Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Mindspace Business Parks REIT

₹ 334 -0.53%
03 Jul - close price
Company website BSE: 543217 NSE: MINDSPACE
About

Mindspace REIT is a Real Estate Investment Trust listed in India under the SEBI Real Estate Investment Trust Regulations, 2014. Mindspace REIT primarily holds interests in rental yielding commercial real estate assets (Grade-A office portfolio). It is incorporated as a registered Trust and listed through a public issue of units. The sponsor of Mindspace REIT is the K Raheja Corp Group. [1]

Key Points

K Raheja Corp Group
It is one of the real estate developers in India with presence across the entire real estate value chain, from acquiring land to developing and operating assets across offices, hospitality, malls, residential and retail segments. It has partnered with several marquee institutional investors including Blackstone, GIC among others. [1]

Website BSE NSE - RR
  • Market Cap ₹ 19,805 Cr.
  • Current Price ₹ 334
  • High / Low ₹ 369 / 296
  • Stock P/E 17.1
  • Book Value ₹ 280
  • Dividend Yield %
  • ROCE 7.11 %
  • ROE 6.98 %
  • Face Value ₹
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Pros

  • Stock is trading at 1.19 times its book value
  • Company has delivered good profit growth of 56.5% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 73.9%

Cons

  • Tax rate seems low
  • Company has a low return on equity of 6.85% over last 3 years.
  • Working capital days have increased from 164 days to 285 days

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Real Estate Investment Trusts Industry: Construction

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
304 301 297 300 304 307 315 326 332 340 346 358 356
4 3 3 4 3 4 5 4 4 3 5 4 6
Operating Profit 300 298 294 296 301 302 310 321 328 336 342 354 350
OPM % 99% 99% 99% 99% 99% 99% 98% 99% 99% 99% 99% 99% 98%
1 -0 0 1 0 1 1 1 1 1 0 0 1
Interest 13 20 20 21 26 23 27 31 34 45 54 62 62
Depreciation 0 0 0 0 0 0 0 0 0 0 0 0 0
Profit before tax 288 278 274 276 276 280 284 292 295 292 288 293 289
Tax % 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
287 278 274 276 275 280 283 291 295 292 288 292 289
EPS in Rs 4.85 4.69 4.62 4.65 4.64 4.72 4.77 4.91 4.97 4.93 4.86 4.93 4.87
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
504 582 0 613 1,201 1,278 1,400
269 188 5 8 12 17 18
Operating Profit 236 395 -5 606 1,189 1,261 1,382
OPM % 47% 68% 99% 99% 99% 99%
76 88 0 1 1 4 2
Interest 214 224 0 23 87 114 222
Depreciation 106 105 0 0 0 0 0
Profit before tax -9 154 -5 584 1,104 1,151 1,162
Tax % 372% 20% 0% 0% 0% 0% 0%
24 124 -5 583 1,103 1,149 1,161
EPS in Rs 9.84 18.60 19.38 19.58
Dividend Payout % 0% 0% 0% 97% 99% 98% 24%
Compounded Sales Growth
10 Years: %
5 Years: 19%
3 Years: 32%
TTM: 9%
Compounded Profit Growth
10 Years: %
5 Years: 56%
3 Years: 26%
TTM: 1%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: 6%
1 Year: 11%
Return on Equity
10 Years: %
5 Years: 7%
3 Years: 7%
Last Year: 7%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 0 0 0 16,284 16,284 16,284 16,284
Reserves 77 200 -5 295 292 320 343
Preference Capital 18 20 0 0 0 0 0
2,340 2,418 0 1,142 1,642 2,189 3,474
442 492 5 23 84 60 91
Total Liabilities 2,859 3,110 0 17,745 18,302 18,852 20,191
1,920 1,908 0 0 0 0 0
CWIP 0 0 0 0 0 0 0
Investments 1 1 0 15,310 15,310 15,310 15,410
938 1,201 0 2,434 2,992 3,542 4,781
Total Assets 2,859 3,110 0 17,745 18,302 18,852 20,191

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
0 -11 -12 -20 -15
0 -1,525 633 749 66
0 1,829 -633 -712 -45
Net Cash Flow 0 294 -12 17 5

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 12 7 0 0 0 0
Inventory Days
Days Payable
Cash Conversion Cycle 12 7 0 0 0 0
Working Capital Days 392 463 -2 152 55 285
ROCE % 15% -0% 7% 7% 7% 7%

Shareholding Pattern

Numbers in percentages

2 Recently

Shareholding pattern is currently not available for this company.

Documents

Announcements

Annual reports

Credit ratings

Concalls