Mindspace Business Parks REIT benchmarking: Perfomance to industry peers

Financial

	Mindspace Business	Brookfield IndiaReal	Nexus Select Trust
Operational Metrics
Real Estate
Leasable Area	38.2 Mn Sqft	29.1 Mn Sqft	5.8 Mn Sqft
Non-Residential Area Under Construction	7.2 Mn Sqft	4.5 Mn Sqft	n/a
Total Area Under Construction	7.2 Mn Sqft	4.5 Mn Sqft	n/a
Occupancy Rate - Commercial Real Estate	89.3 %	90.0 %	88.0 %
Cost of Borrowing	7.52 %	n/a	7.5 %
Distribution per unit - Interest(Taxable)	0.03 Rs	1.85 Rs	n/a
Distribution per unit - Dividend(Not Taxable)	3.02 Rs	0.83 Rs	n/a
Unclassified
Weighted Average Lease Expiration (WALE)	7.4 Years	6.6 Years	4.7 Years
Rent per sqft - Annualized	294.0 Rs/Sqft	1176.0 Rs/Sqft	663.66 Rs/Sqft
Distribution per unit	5.83 Rs	5.25 Rs	n/a
Average Yield Per Unit	5.13 %	6.1 %	n/a
Financials
5 yr Average ROE	2.72 %	1.22 %	35.92 %
5yr average Equity Multiplier	1.62	1.8	-4.2
5yr Average Asset Turnover Ratio	0.08	0.06	0.07
5yr Avg Net Profit Margin	20.46 %	13.36 %	16.96 %
Price to Book	0.0	0.0	0.0
P/E	0.0	0.0	0.0
5yr Avg Cash Conversion Cycle	12.16 Days	-4496.59 Days	-1437.68 Days
Inventory Days	0.84 Days	0.0	0.32 Days
Days Receivable	11.52 Days	10.74 Days	9.48 Days
Days Payable	0.0	4251.81 Days	771.73 Days
5yr Average Interest Coverage Ratio	3.27	1.41	1.77
5yr Avg ROCE	5.36 %	3.46 %	36.85 %
5yr Avg Operating Profit Margin	73.2 %	68.84 %	45.63 %
5 yr average Debt to Equity	0.42	0.67	0.22
5yr CAGR Net Profit	9.14 %	48.87 %	n/a
5yr Average Return on Assets	1.66 %	0.73 %	-0.37 %
Shareholdings
Promoter Holding	59.4 %	n/a	n/a
Share Pledged by Promoters	0.0	n/a	n/a
Change in Promoter Holding (3 Yrs)	0.0	n/a	n/a
Change in Mutual Fund Holding (3 Yrs)	0.0	n/a	n/a

Business

	Mindspace Business	Brookfield IndiaReal	Nexus Select Trust
Segment Break-Up	Segment Break-Up Real Estate 96.5 Power 3.5 Investment 0 Hospitality 0 Office Rentals 0 Mall Rentals 0	-	Segment Break-Up Investment 0 Office Rentals 5.19 Hospitality 6.49 Real Estate 0 Mall Rentals 87.22 Power 0 Others 1.1
Location Wise Break-Up	Location Wise Break-Up Hyderabad 42.0 Mumbai 33.9 Pune 18.1 Chennai 3.3 Mumbai 0 Kolkata 0 Noida 0 Gurugram 0 Others 2.7	Location Wise Break-Up Pune 0 Kolkata 7.92 Chennai 0 Gurugram 28.71 Mumbai 43.56 Noida 19.8 Hyderabad 0 Others 0.01	Location Wise Break-Up Pune 8.25 Kolkata 0 Chennai 0 Gurugram 0 Mumbai 9.96 Noida 0 Hyderabad 0 Others 81.79
Operating Profit Break-Up	Operating Profit Break-Up Hospitality 0 Office Rentals 0 Mall Rentals 0 Others 100	-	Operating Profit Break-Up Hospitality 4.4 Office Rentals 5.38 Mall Rentals 89.15 Others 1.07
Verticals	Verticals Software Services 39.3 Financial Services 17.6 Telecom & Media 10.6 Engineering 9.9 Co-Working 6.0 Professional Services 5.7 Healthcare 5.5 Manufacturing & Processes 2.9 Ecommerce 1.1 Technology Hardware 0 Analytics 0 Healthcare 0 HR Services 0 Consulting 0 Jewellery 0 Homeware 0 Hypermarket 0 Electronic 0 Beauty & Personal care 0 Departmental Store 0 Footwear & Fitness 0 Entertainment 0 F&B 0 Apparel & Accessories 0 Others 1.4	Verticals Consulting 13.0 Manufacturing & Processes 0 Engineering 0 Apparel & Accessories 0 Telecom & Media 0 Analytics 0 HR Services 0 Electronic 0 F&B 0 Hypermarket 0 Technology Hardware 0 Departmental Store 0 Co-Working 0 Professional Services 0 Beauty & Personal care 0 Ecommerce 0 Software Services 0 Footwear & Fitness 0 Homeware 0 Healthcare 3.0 Financial Services 20.0 Jewellery 0 Entertainment 0 Others 64.0	Verticals Consulting 0 Manufacturing & Processes 0 Engineering 0 Apparel & Accessories 40.3 Telecom & Media 0 Analytics 0 HR Services 0 Electronic 4.4 F&B 12.8 Hypermarket 3.0 Technology Hardware 0 Departmental Store 6.3 Co-Working 0 Professional Services 0 Beauty & Personal care 6.6 Ecommerce 0 Software Services 0 Footwear & Fitness 9.7 Homeware 2.4 Healthcare 0 Financial Services 0 Jewellery 1.8 Entertainment 9.0 Others 3.7
Capex - Segment Wise	Capex - Segment Wise Others 100	-	-
Asset Break-Up - Segment Wise	Asset Break-Up - Segment Wise Others 100	-	-

Mindspace Business Parks REIT

Mindspace Business Parks REIT

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