BSE: 543217 | NSE: MINDSPACE | Finance - Investment | Small Cap
Past 10 year’s financial track record analysis by Moneyworks4me indicates that Mindspace Business Parks REIT is a below average quality company.
The key valuation ratios of Mindspace Business Parks REIT's currently when compared to its past seem to suggest it is in the Overvalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Mindspace Business Parks REIT is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
| Mar'11 | Mar'12 | Mar'13 | Mar'14 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Income (₹ Cr.) | 0 | 0 | 11.2 | 12 | 0 | 0 | 613 | 1,201 | 1,279 | 1,400 | 1,400 | |
| YoY Gr. Rt. % | - | NA | NA | 7.1% | -100% | NA | NA | 95.9% | 6.4% | 9.5% | - | |
| Adj EPS (₹ ) | -1,406.3 | -4,092.9 | -136.2 | 639.4 | 0 | 0 | 9.8 | 18.6 | 19.4 | 19.6 | 0 | |
| YoY Gr. Rt. % | - | NA | NA | NA | -100% | NA | NA | 89% | 4.2% | 1% | - | |
| BVPS (₹ ) | 12,225.4 | 8,132.5 | 7,996.3 | 8,635.7 | 0 | 0 | 279.6 | 279.5 | 280 | 280.4 | 0 | |
| YoY Gr. Rt. % | - | -33.5% | -1.7% | 8% | -100% | NA | NA | -0% | 0.2% | 0.1% | - | |
| To view Net Profit/Total Funds (%) Colour Rating Guide click here ⓘ | ||||||||||||
| Net Profit/Total Funds (%) | -1.1 | -2.3 | -0.1 | 0.3 | 0 | 0 | 3.3 | 6.1 | 6.2 | 6 | 0 | |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Interest Income | NA | NA | 31.7% | 9.5% | ||||||||
| Adj EPS | NA | NA | 25.8% | 1% | ||||||||
| BVPS | -34.3% | NA | 0.1% | 0.1% | ||||||||
| Share Price | - | - | 4.9% | 17.8% | ||||||||
| RATIOS \ YEARS | Mar'11 | Mar'12 | Mar'13 | Mar'14 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||||||
| Net Profit Margin (%) | 0 | 0 | -6.8 | 29.8 | 0 | 0 | 95.1 | 91.8 | 89.9 | 83 | 0 | |
| Performance Ratios | To view Performance Ratios Colour Rating Guide click here ⓘ | |||||||||||
| Return on Equity (%) | -8.2 | -28.3 | -1.1 | 5.1 | 0 | 0 | 3.5 | 6.7 | 6.9 | 7 | 0 | |
Total Income has increased 31.65 CAGR in last 3 years
Net Profit has increased 25.78 CAGR in last 3 years
Return on Equity has declined versus last 3 years average to 0.00%
Total income growth is poor in last 4 quarters
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 0 | - |
| TTM Sales (₹ Cr.) | 1,400 | - |
| BVPS (₹.) ⓘ | 0 | - |
| Reserves (₹ Cr.) ⓘ | 343 | - |
| P/BV ⓘ | 0.00 | - |
| PE ⓘ | 0.00 | - |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 310.50 / 384.99 |
| All Time Low / High (₹) | 275.16 / 388.00 |
| Market Cap (₹ Cr.) | 0 |
| Equity (₹ Cr.) | 0 |
| Face Value (₹) | 275 |
| Industry PE ⓘ | 46.4 |
| Pledged * | 0.00 |
| PARTICULARS | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|
| Income | 614.50 | 1,202.50 | 1,282.20 | 1,401.80 |
| Interest Income | 613.30 | 1,201.40 | 1,278.50 | 1,399.50 |
| Other Income ⓘ | 1.20 | 1.10 | 3.70 | 2.30 |
| Expenditure ⓘ | 30.60 | 98.90 | 131.30 | 239.80 |
| Interest Expense ⓘ | 23.10 | 86.70 | 113.90 | 222.20 |
| Operating Expenses ⓘ | 7.40 | 12 | 16.70 | 17 |
| Provisions | 0.10 | 0.20 | 0.70 | 0.60 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | 583.90 | 1,103.60 | 1,150.90 | 1,162 |
| Taxes ⓘ | 0.50 | 0.60 | 1.80 | 0.80 |
| Profit After Tax | 583.40 | 1,103 | 1,149.10 | 1,161.20 |
| Adjusted EPS (₹) | 9.8 | 18.6 | 19.4 | 19.6 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 0% |
| PARTICULARS | Mar'21 | Mar'22 | Mar'23 | Mar'24 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Equity Capital | 16,578.90 | 16,575.80 | 16,604.10 | 16,626.80 | ||||||
| Share Capital ⓘ | 16,283.90 | 16,283.90 | 16,283.90 | 16,283.90 | ||||||
| Reserves ⓘ | 295 | 291.90 | 320.20 | 342.90 | ||||||
| Minority Interest | 0 | 0 | 0 | 0 | ||||||
| Long Term Borrowings | 1,161.80 | 1,169.30 | 2,043.20 | 2,383 | ||||||
| Current Liabilities | 4.10 | 556.90 | 205.10 | 1,181.30 | ||||||
| Trade Payables | 1.30 | 1 | 1.70 | 1.50 | ||||||
| Short term borrowings | 0 | 0 | 0 | 144.60 | ||||||
| Other Liabilities | -1.30 | -1 | -1.70 | -146.10 | ||||||
| Total Liabilities ⓘ | 17,744.80 | 18,302 | 18,852.40 | 20,191.10 | ||||||
Assets | ||||||||||
| Non Current Asset | 17,449.90 | 17,463.80 | 18,354.80 | 18,705.20 | ||||||
| Loan Asset | 0 | 0 | 0 | 0 | ||||||
| Other Non Current Asset ⓘ | 17,449.90 | 17,463.80 | 18,354.80 | 18,705.20 | ||||||
| Current Asset | 294.90 | 838.20 | 497.60 | 1,485.90 | ||||||
| Current Investment | 0 | 0 | 0 | 0 | ||||||
| Other Current Asset | 294.90 | 838.20 | 497.60 | 1,485.90 | ||||||
| Total Assets ⓘ | 17,744.80 | 18,302 | 18,852.40 | 20,191.10 | ||||||
| PARTICULARS | Mar'21 | Mar'22 | Mar'23 | Mar'24 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|
Operational & Financial Ratios |
||||||||||
| EPS (₹) | 10 | 19 | 19 | 20 | ||||||
| DPS (₹) | 0 | 0 | 0 | 0 | ||||||
| BVPS (₹) | 280 | 280 | 280 | 280 | ||||||
Performance Ratios | ||||||||||
| ROA (%) | 3.3 | 6.1 | 6.2 | 6.0 | ||||||
| ROE (%) | 3.5 | 6.7 | 6.9 | 7.0 | ||||||
| ROCE (%) | 3.4 | 6.6 | 6.8 | 7.1 | ||||||
Valuation Parameters | ||||||||||
| Price/Book(x) | 1.1 | 1.2 | 1.2 | 1.2 | ||||||
Mindspace REIT was settled on November 18, 2019 at Mumbai, Maharashtra, India as a contributory determinate irrevocable trust under the provisions of the Indian Trusts Act, 1882, pursuant to a trust deed dated November 18, 2019. Mindspace REIT was registered with SEBI on December 10, 2019, at Mumbai. Mindspace REIT has been settled by the Sponsors for an initial sum of Rs 10,000.
Business area of the company
The company owns a quality office portfolio located in four key office markets of India. Its portfolio has total leasable area of 29.5 msf and is one of the largest Grade-A office portfolios in India. Its portfolio comprises 23.0 msf of Completed Area, 2.8 msf of Under Construction Area and 3.6 msf of future development area, as of March 31, 2020. Its portfolio has five integrated business parks with superior infrastructure and amenities (such as restaurants, creches and outdoor sports arenas) and five quality independent offices. The company’s portfolio is located in Mumbai Region, Hyderabad, Pune and Chennai, which are amongst the key office markets of India and accounted for approximately 58.0% of total Grade-A net absorption in the top six markets in India, namely, Chennai, Mumbai Region, Pune, Hyderabad, Bengaluru and the National Capital Region during the fiscal year 2020. Its assets provide a community-based ecosystem and they have been developed to meet the evolving standards of tenants and the demands of ‘new age businesses’, which makes them among the preferred options for both multinational and domestic corporations.
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MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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