Mindspace Business Parks restructures top management

8 Aug 2023 , 12:41 PM

Mindspace Business Parks REIT has restructured its top management to ensure leadership stability and continuity as it enters the next phase of growth.

The K Raheja Corp-backed listed business has appointed Ramesh Nair as CEO, effective September 1, while promoting Vinod Rohira as REIT Board Member.

Rohira will take on a wider responsibility within the group as Managing Director and CEO – Commercial Real Estate, K Raheja Corp, as well as a seat on the Board of K Raheja Corp Homes.

Mindspace Business Parks REIT, sponsored by the K Raheja Corp group, was listed on Indian stock exchanges in August 2020. The REIT has office portfolios in four main Indian office markets: Hyderabad, Pune, Mumbai, and Chennai.

The portfolio comprises a total leasable area of 32.1 million square feet, which includes 25.9 million square feet of completed space, 2.5 million square feet under construction, and 3.7 million square feet of prospective development. 

The portfolio includes five integrated business parks and five standalone office assets. It features a diverse tenant base, with over 200 tenants as of the end of June.

At around 12.38 PM, Mindspace Business REIT was trading 0.21% higher at Rs 306.81, against the previous close of Rs 306.16 on NSE.

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