New Delhi, Nov 14 (PTI) Mindspace Business Parks REIT on Monday reported a 16 per cent increase in its net operating income to Rs 417.2 crore for the quarter ended September.

The company also announced distribution of Rs 281.7 crore or Rs 4.75 per unit for the second quarter of FY23, a growth of 3.3 per cent Year-on-Year (YoY), according to a statement.

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"As envisaged, we continue to see demand for Grade A institutionally managed office assets as the preferred choice by our global clients as their return to office plans are now in motion," Vinod Rohira, Chief Executive Officer of Mindspace Business Parks REIT, said.

The company has leased 1.3 million square feet during the September quarter, taking the cumulative gross leasing to 2.1 million square feet in the first half of the financial year, he said.

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"We continue to unlock value in our portfolio through disciplined organic growth and prudent capital allocation, in alignment with our focus to maximise unitholder value," Rohira said.

Mindspace Business Parks REIT, sponsored by K Raheja Corp group, got listed on the Indian bourses in August 2020.

The REIT owns office portfolios located in four major cities namely Mumbai Region, Pune, Hyderabad, and Chennai.

It has a total leasable area of 24.9 million square feet.

The portfolio consists of five integrated business parks and five quality independent office assets.

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