Mindspace REIT Q3 net dips 13% to Rs 127 cr on higher interest cost

This is despite a 23.4% surge in total revenue to Rs 544 cr in Q3FY23, from Rs 441 crore a year ago

K Raheja Corp group-backed Mindspace Business Parks REIT reported a 13.11 per cent decline in net profit for the third quarter of FY23, mainly on account of higher interest cost. The lower profit figure comes in despite a 23.4 per cent surge in total revenue to Rs 544 crore in Q3FY23, from Rs 441 crore in the year-ago period.

Mindspace REIT's net operating income rose 22 per cent to Rs 455 crore for the reporting quarter, from Rs 373.7 crore a year ago.

The company announced a 3.4 per cent year-on-year increase in distribution to unitholders, at Rs 4.80 per