Flash Finance

Mindspace Business Parks REITMINDSPACECorporate

Construction Latest results: Mar 2026 13 quarters of data
Consolidated Standalone
₹494.66
MCap ₹32,746 Cr · P/E 45.2
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AI-assisted data: figures and text on this page are extracted from public quarterly filings with AI assistance, checked automatically and overseen by our editorial team (human in the loop). They may still contain errors or omissions. Verify critical numbers against official company / SEBI / NSE / BSE filings before making any decision. Educational information only, not financial advice.
₹373 Cr
Sales · Mar 2026
+33.2% YoY
₹364 Cr
Operating Profit · Mar 2026
+33.8% YoY
97.6%
OPM % · Mar 2026
+0.5% YoY
₹201 Cr
Net Profit · Mar 2026
+9.2% YoY
₹3.10
EPS · Mar 2026
+2.3% YoY

📝 Mindspace Business Parks REIT — results explained

Quarter ended March 2026 (Q4 FY26)

Mindspace Business Parks REIT reported revenue of ₹373 crore for the quarter ended March 2026 (Q4 FY26), up 33.2% from ₹280 crore in the same quarter last year, and up 22.3% sequentially over the December 2025 quarter.

Net profit rose 9.2% year-on-year to ₹201 crore, from ₹184 crore. Earnings per share (EPS) came in at ₹3.10.

Operating profit stood at ₹364 crore — an operating margin (OPM) of 97.6%, compared with 97.1% in the year-ago quarter.

Full year and trailing twelve months

For the full year FY26, Mindspace Business Parks REIT posted revenue of ₹1,284 crore, a growth of 34.0% over FY25, with a net profit of ₹725 crore (up 22.5% year-on-year).

On a trailing-twelve-month (TTM) basis, revenue stands at ₹1,284 crore with a net profit of ₹725 crore.

Valuation snapshot

At the current price of ₹494.66, MINDSPACE has a market capitalisation of ₹32,746 crore and a trailing P/E of about 45.2.

Within the Construction industry, it is the 2nd-largest of the 137 companies we track by market value.

📈 Share price & events

📊 Quarterly trend

₹ crore · OPM % on right axis

🎯 Key metrics

price-linked ratios use the latest close
Valuation
Market Cap ?
₹32,746 Cr
Current Price ?
₹494.7
P/E ?
45.17above ind
Industry P/E ?
16.40
P/B ?
1.85
P/S ?
25.50
P/FCF ?
-885.03
Enterprise Value ?
₹41,500 Cr
EV/EBITDA ?
33.09
PEG ?
N/A
Earnings Yield ?
3.0%
Dividend Yield ?
8.59%
Profitability & Returns
Sales (TTM) ?
₹1,284 Cr
OPM ?
97.7%
Profit after tax (TTM) ?
₹725 Cr
EPS (TTM) ?
₹10.95
ROCE ?
5.0%
ROE ?
4.1%
ROA ?
2.7%
Growth
Sales — latest qtr ?
₹373 Cr
PAT — latest qtr ?
₹201 Cr
YoY qtr sales growth ?
33.2%
YoY qtr profit growth ?
9.2%
Sales growth (3y) ?
0%
Sales growth (5y) ?
16%
Profit growth (3y) ?
-14%
Profit growth (5y) ?
4%
Financial Health
Debt ?
₹8,754 Cr
Debt to Equity ?
0.49
Interest Coverage ?
2.4
Current Ratio ?
N/A
Ownership
Promoter holding ?
N/A
Change in promoter holding ?
N/A
Pledged percentage ?
N/A
Market
Return 3 months ?
0.4%
Return 6 months ?
4.9%

🗓️ Quarterly results (13 quarters · ₹ Cr)

same fiscal quarter as Mar bestweakest per row · for costs (interest, NPAs) low is best
Metric Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026 YoY % QoQ %
Sales 332341346357357100292286280289317305373 +33.2% +22.3%
Operating Profit 328-334235435096286280272283309298364 +33.8% +22.1%
Other Income 134100111541230 -100.0% -100.0%
Interest 344554626276889490100123144163 +81.1% +13.2%
Depreciation 0000000000000 — —
Profit Before Tax 29529228829328921198191186183188156202 +8.6% +29.5%
Net Profit 29529228829228921198189184182187155201 +9.2% +29.7%
EPS 4.974.924.864.934.870.353.343.183.032.993.062.543.10 +2.3% +22.0%
OPM % 98.8% -1.0% 98.8% 99.2% 98.0% 96.0% 97.9% 97.9% 97.1% 97.9% 97.5% 97.7% 97.6% +0.5% -0.1%

📆 Annual results (₹ Cr, FY = Apr–Mar)

Metric FY25 FY26 TTM YoY %
Sales ₹958 Cr ₹1,284 Cr ₹1,284 Cr +34.0%
Operating Profit ₹934 Cr ₹1,254 Cr ₹1,254 Cr +34.3%
OPM % 97.49% 97.66% 97.66% +0.2%
NPM % 61.80% 56.46% 56.46% -8.6%
Other Income ₹11 Cr ₹6 Cr ₹6 Cr -45.5%
Depreciation ₹0 Cr ₹0 Cr ₹0 Cr —
Interest ₹348 Cr ₹530 Cr ₹530 Cr +52.3%
EBIT ₹934 Cr ₹1,254 Cr ₹1,254 Cr +34.3%
PBT ₹596 Cr ₹729 Cr ₹729 Cr +22.3%
Tax — — — —
Net Profit ₹592 Cr ₹725 Cr ₹725 Cr +22.5%
EPS ₹9.90 ₹11.69 ₹11.69 +18.1%
Material Cost — — — —
Employee Cost — — — —
Extraordinary Items — — — —

🏛️ Balance Sheet (latest 4 periods)

Metric Mar 2023Mar 2024Mar 2025Mar 2026 % Chg
Equity Capital 16,28416,28416,58217,697 +6.7%
Reserves 32034346-4 -108.7%
Borrowings 2,1893,4744,6168,754 +89.6%
Other Liabilities 60912254 +145.5%
Total Liabilities 18,85220,19121,26626,501 +24.6%
Fixed Assets 0000 —
CWIP 0000 —
Investments 15,31015,41016,22518,046 +11.2%
Other Assets 3,5424,7815,0418,455 +67.7%
Total Assets 18,85220,19121,26626,501 +24.6%

💧 Cash Flow (latest 4 periods)

Metric Mar 2023Mar 2024Mar 2025Mar 2026 % Chg
Cash from Operating Activity -20-15-29-37 -27.6%
Cash from Investing Activity 74966235-2,030 -963.8%
Cash from Financing Activity -712-45-4822,161 +548.3%
Net Cash Flow 175-27694 +134.1%
Free Cash Flow -20-15-29-37 -27.6%
CFO/OP -1%-1%-3%-3% +0.0%

➗ Ratios (latest 4 periods)

Metric Mar 2023Mar 2024Mar 2025Mar 2026 % Chg
Debtor Days 0000 —
Cash Conversion Cycle 0000 —
Working Capital Days -202015 -25.0%
ROCE % 7%7%5%5% +0.0%

⚖️ Peer comparison

Industry: Construction · top 25 of 137 companies · full page →
# Company CMP MCap (Cr) P/E Sales TTM NP TTM OPM% NPM% Sales YoY% NP YoY% Qtr Rev Δ% Qtr NP Δ%
1 EMBASSY Embassy Office ₹369.92 35,064 92.7 4,763 378 76.6% 7.9% 13.4% -79.2% 17.1% 25.9%
2 MINDSPACE MINDSPACE.NS 0P0001KHWX ₹345.06 22,843 28.7 3,241 800 80.1% 24.7% 16.4% 35.2% 27.9% 62.8%
3 NXST NXST.NS 0P0001QYGB ₹148.24 22,458 55.7 2,568 404 67.3% 15.7% 12.4% -16.5% 12.3% -89.5%
4 BIRET BIRET.NS 0P0001LR17 ₹263.49 21,867 42.0 3,295 626 71.8% 19.0% 24.2% 217.9% 51.7% 67.7%
5 WELENT Welspun Enterprises ₹789.00 10,700 35.5 3,544 348 20.2% 9.8% 0.9% 11.1% -8.4% -44.2%
6 MAXESTATES Max Estates ₹611.30 10,000 n/m 200 12 9.0% 6.1% -97.5% -98.9% 0.8% -30.0%
7 AFCONS Afcons Infrastructure ₹253.60 9,327 65.0 11,249 143 9.2% 1.3% -4.8% -48.6% -20.8% -77.9%
8 IRBINVIT IRB InvIT ₹66.38 8,507 25.1 1,546 340 80.0% 22.0% 13.4% -23.1% 87.2% 3.2%
9 GRINFRA G R ₹850.40 8,229 8.1 9,194 1,017 18.4% 11.1% 15.7% -1.6% 40.0% 46.6%
10 NCC NCC ₹130.76 8,210 12.7 20,639 682 8.8% 3.3% -9.9% -24.3% 12.2% 11.9%
11 RAYMOND Raymond ₹1,219.50 8,116 187.4 2,293 64 11.1% 2.8% -62.5% -30.2% 446.4% -99.4%
12 MAHLIFE Mahindra Lifespace ₹360.05 7,690 31.5 1,179 80 -10.3% 6.8% 216.9% 535.9% 7344.4% 5.7%
13 NESCO Nesco ₹1,056.00 7,441 17.9 951 417 50.7% 43.8% 27.4% 9.9% 9.7% 4.0%
14 CEIGALL Ceigall India ₹386.80 6,738 20.9 4,155 321 14.9% 7.7% 17.0% 7.7% 15.7% 24.2%
15 DBL Dilip Buildcon ₹406.20 6,599 5.0 8,742 1,255 19.2% 14.4% -20.4% 66.5% -9.2% -52.8%
16 KPIGREEN KPI Green ₹314.95 6,226 13.6 2,787 492 35.8% 17.7% 55.3% 56.5% 13.0% -15.0%
17 HCC Hindustan Construction ₹21.66 5,674 23.3 3,871 244 12.7% 6.3% -29.2% -7.2% -9.0% 0.7%
18 DBREALTY Valor Estate ₹95.20 5,164 n/m 864 12 9.0% 1.4% 61.7% 122.7% -86.8% -109.7%
19 MANINFRA Man Infraconstruction ₹124.44 4,951 21.1 666 216 24.1% 32.4% -43.1% -32.5% 19.3% 8.2%
20 PURVA Puravankara ₹202.61 4,805 27.9 4,064 150 20.0% 3.7% 85.7% 130.6% 62.0% 136.6%
21 RUSTOMJEE Keystone Realtors ₹356.90 4,508 33.8 2,832 131 6.7% 4.6% 31.5% -49.4% 72.2% 220.7%
22 AHLUCONT Ahluwalia Contracts ₹601.50 4,029 17.9 4,686 225 8.5% 4.8% 11.4% 32.3% 12.0% -79.7%
23 SUNTECK Sunteck Realty ₹269.60 3,959 18.6 1,127 211 28.7% 18.7% 31.7% 34.4% 1.7% 25.5%
24 KOLTEPATIL Kolte - ₹428.30 3,798 30.5 1,573 125 9.8% 8.0% -53.4% -147.2% 1017.0% 970.9%
25 ASHIANA Ashiana Housing ₹376.25 3,782 31.8 958 119 13.0% 12.4% 116.3% 548.9% -63.3% 0.8%
❓ Frequently asked questions
What was Mindspace Business Parks REIT's revenue in Q4 FY26?
Mindspace Business Parks REIT reported revenue of ₹373 crore for the quarter ended March 2026 (Q4 FY26), up 33.2% from ₹280 crore in the same quarter last year, and up 22.3% sequentially over the December 2025 quarter.
What was Mindspace Business Parks REIT's net profit in Q4 FY26?
Net profit rose 9.2% year-on-year to ₹201 crore, from ₹184 crore. Earnings per share (EPS) came in at ₹3.10.
What is MINDSPACE's market capitalisation and P/E ratio?
At the current price of ₹494.66, MINDSPACE has a market capitalisation of ₹32,746 crore and a trailing P/E of about 45.2.
TTM ends 2026-03-31. Amounts are ₹ crore unless stated otherwise. Figures are extracted by AI from public quarterly filings; gaps are filled from public market data. Live price refreshed about twice a day from exchange data. Educational information only — not financial advice.
⚠️ How this site is made: Market data pages are computed automatically from NSE/BSE publications and company filings; news articles and announcement analyses are written with AI assistance, with a human in the loop: our editors review what the AI produces. Both can contain errors. Verify with the original sources before any investment decision. Not investment advice; Flash Finance is not SEBI-registered. How we use AI