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Mindspace Business Parks REIT

Q2 FY26Realty

Mindspace Business Parks REIT Q2 FY26 earnings call: Revenue & Margins

Q2 FY26 investor presentation: what the company reported on revenue, margins and projects.

Price₹505
Market cap₹33.5K Cr
P/E42.9
Updated24 Sept 2026
Read4 min read

Based on Mindspace Business Parks REIT's Q2 FY26 investor presentation. The company has not published an earnings-call transcript for this quarter, so figures here are what the presentation reports, not management guidance.

The short version

Revenue from Operations for Q2 FY26: ₹7,778 million, up from ₹6,419 million in Q3 FY25 (approx. The provided presentation does not mention or report any figures related to EBITDA, operating margin, or profit after tax (PAT) for the quarter.

From Mindspace Business Parks REIT's Q2 FY26 earnings-call transcript · updated 24 Sept 2026.

Revenue & Sales Performance

  • Revenue from Operations for Q2 FY26: ₹7,778 million, up from ₹6,419 million in Q3 FY25 (approx. 21.3% increase from Q3 FY25 to Q2 FY26, noting sequential quarter growth).
  • Net Operating Income (NOI) for Q2 FY26: ₹3,552 million, up from ₹3,155 million in Q3 FY25.
  • Committed Occupancy increased to 94.6% as of Q2 FY26 (from 93.7% in Q1 FY26).
  • Gross Asset Value (GAV) reached ₹484 billion in H1 FY26 versus ₹393 billion in H1 FY25.
  • Net Asset Value (NAV) per unit: ₹410 as of H1 FY26, up from ₹313 reported in H1 FY25.
  • Distribution stood at ₹465 million in H1 FY26, increased from ₹366 million in H1 FY25.

2 more points management made on revenue & sales performance

Profitability & Margins

See what Mindspace Business Parks REIT said on profitability & margins — free account, 30 seconds.

Capital Expenditure Plans

  • ₹6.5 billion invested in upgrades since listing (Page 11).
  • Data Centers: 5 data centers with 1.7 msf footprint; 2 delivered and 3 under construction (Page 11).
  • Hotels: Mixed-use ecosystems include 3 hotels completed/planned with 333 keys (0.5 MSF), 272 keys (0.3 MSF), and 168 keys (0.13 MSF) at locations B17 Airoli East and B18 Madhapur; subject to design finalization and approvals (Page 12).
  • New developments under execution:
  • The Pearl Club, Madhapur: Estimated completion Q4 FY26 (Page 8).
  • Mindspace Fusion, Airoli East: Operational (Page 8).
  • B1, Madhapur: Estimated completion Q1 FY27, pre-leased to GCC (Page 8).

2 more points management made on capital expenditure plans

Top-ranked in Realty

Ranked on what management guided this quarter

5x potential
1Sri Lotus
Rev 1Mar 3
2Sobha Ltd
Rev 2Mar 1
3
Rev 2Mar 1
4
Rev 2Mar 1
5
Rev 2Mar 3
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Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.

Fundraising & Capital Structure

See what Mindspace Business Parks REIT said on fundraising & capital structure — free account, 30 seconds.

Order Book & Pipeline

The presentation does not explicitly mention order book, order inflow, or pending orders. However, it provides insights into the operational and financial performance, as follows: - High committed occupancy of 94.6% as of September 2025, indicating strong tenant demand. - Multiple projects with estimated completion dates (e.g., The Pearl Club Q4 FY26, B1 Madhapur Q1 FY27) with pre-leasing activity and enquiries (e.g., B1 Madhapur pre-leased to GCC, B8 Madhapur has 2X enquiries). - Strong portfolio growth through acquisitions (e.g., The Square 110 Financial District 0.8 msf, Commerzone Raidurg 1.8 msf).

2 more points management made on order book & pipeline

Mindspace Business Parks REIT — Quarterly revenue & net profit

Revenue Net profit
Dec 2024
Mar 2025
Jun 2025
Sep 2025
Dec 2025
Mar 2026

Reported quarterly figures (₹ Cr). Latest: revenue ₹890 Cr, net profit ₹209 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.

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Frequently Asked Questions

What were Mindspace Business Parks REIT Q2 FY26 results?

Revenue from Operations for Q2 FY26: ₹7,778 million, up from ₹6,419 million in Q3 FY25 (approx. The provided presentation does not mention or report any figures related to EBITDA, operating margin, or profit after tax (PAT) for the quarter.

What is Mindspace Business Parks REIT share price analysis?

Mindspace Business Parks REIT currently shows a neutral. The stock trades at a P/E of 42.9 with a market cap of ₹33,469 Cr. Investors should review the full earnings analysis for detailed insights.

Is Mindspace Business Parks REIT planning capital expenditure?

₹6.5 billion invested in upgrades since listing (Page 11).

Keep Mindspace Business Parks REIT on your radar — track it to get its next earnings analysis in your feed.

This analysis is AI-generated based on publicly available earnings data and the company's investor presentation. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.