Mindspace REIT and Muthoot Finance Post Strong Q1 FY27 Results Driven by Robust Financial Growth

Mindspace Business Parks REIT and Muthoot Finance Ltd. have announced their respective financial and operational performance updates for the quarter ended June 30, 2026. Mindspace REIT reported robust Net Operating Income (NOI) growth of 27.8% year-on-year (YoY) to reach INR 788 crore alongside a record Distribution Per Unit (DPU) of INR 6.67. Concurrently, Muthoot Finance achieved a historic milestone with its consolidated Loan Assets Under Management (AUM) surging 43% YoY to INR 1,91,532 crore and a consolidated Profit After Tax (PAT) of INR 2,825 crore.

Mindspace REIT Operational Expansion, Portfolio Scale, and Financial Health:
Mindspace REIT expanded its total portfolio size to c. 46.2 million sq. ft., driven by strategic acquisitions including a 100% stake in Commerzone Pallikaranai and a 51% stake in One Radial TM (formerly International Tech Park Chennai – Radial Road). Key operational and financial highlights include:

Occupancy and Leasing: Committed occupancy for the portfolio stands at 95.8% (excluding Pocharam and new acquisitions completed in Q1 FY27; overall committed occupancy including the newly acquired assets stands at 92.1%). Gross leasing touched approximately 0.9 million sq. ft. in Q1 FY27, with in-place rents averaging c. INR 81.0 per sq. ft. per month and Mark-to-Market (MTM) potential at c. 19.6%.

New Infrastructure and Hospitality: The trust launched two new office buildings and two new hotels spanning c. 1.7 million sq. ft. across Pune, Mumbai, and Hyderabad. The newly announced hotels in Pune and Hyderabad are pre-let to Chalet Hotels Ltd., bringing the total to five hotels across Mindspace campuses.

Financial Standing and Distributions: The Gross Asset Value of the portfolio rose to c. INR 51,890 crore. The Loan-to-Value (LTV) ratio stands at a comfortable c. 29.7% with a stable cost of debt at 7.42% per annum. Total distributions for the quarter hit c. INR 442 crore (INR 6.67 per unit), bringing cumulative distributions since listing to c. INR 7,201 crore (c. INR 119 per unit). The record date for distribution is August 8, 2026, with payouts processed on or before August 14, 2026.

Muthoot Finance Gold Loan Expansion, Segment Growth, and Strategic Outlook:
Muthoot Finance demonstrated exceptional momentum in its core lending business, fueled by increasing nationwide demand for accessible credit and robust operational execution:

AUM and Profitability: Standalone Loan AUM reached a historic high of INR 1,72,053 crore, driven by a 44% YoY growth in gold loans (reaching INR 163,298 crore). Standalone PAT for Q1 FY27 grew by 25% YoY to INR 2,550 crore.

Subsidiary Contributions: Group subsidiaries maintained strong momentum, contributing 12% to consolidated loan assets (standing at INR 23,369 crore, a 39% YoY growth). Group branch networks expanded to 7,654 locations.

Strategic Outlook: Management highlighted that gold-backed lending is increasingly recognized as a productive financial asset class for personal and business needs rather than an idle store of value. The company continues to accelerate its digital transformation to streamline turnaround times, improve operational efficiency, and capture growing opportunities within the formal financial ecosystem.