Mindspace REIT Expands Hyderabad Legacy with 0.81-Million Sq Ft Landmark Deal

The Landmark Acquisition: A New Chapter in Hyderabad

In a strategic move reaffirming its leadership in India’s commercial real estate, Mindspace Business Parks REIT has secured a marquee asset—Q-City—nestled in the heart of Hyderabad’s Financial District. This transaction, valued at around Rs 512 crore, marks a pivotal moment in Mindspace’s growth story, underscoring its ambition to deepen its presence in the city’s thriving business ecosystem.

Q-City: From Iconic Campus to "The Square, 110 Financial District"

Set across six acres, Q-City stands as a testament to Hyderabad’s transformation into a leading hub for global capability centres. Acquired through Horizonview Properties Private Limited (an SPV of Mindspace REIT), the property will be rebranded as The Square, 110 Financial District. This campus, covering 0.81 million square feet, now joins the illustrious Mindspace Hyderabad portfolio, pushing its total footprint in the city to over 16 million square feet.

Strengthening Strategic Presence

Quoting Ramesh Nair, CEO and Managing Director at Mindspace REIT:

“This milestone marks our first large external acquisition, firmly cementing our position in Hyderabad’s robust office market. The Financial District campus not only enhances our portfolio but also promises swift value addition through our tenant network.”

The acquisition was finalized at an 11.6% discount to independent valuation, with an implied capitalisation rate of 9.9%. The asset was secured for a gross price of Rs 496 crore, translating to a capital value of Rs 6,130 per square foot—a clear sign of prudent capital deployment. Debt financing powered this acquisition, reflecting Mindspace’s agile investment strategy.

Growth Prospects and Market Pulse

Currently, The Square enjoys approximately 65% occupancy, but with Mindspace’s extensive tenant connections, leasing of the remaining space is expected to accelerate. This aligns perfectly with Hyderabad’s meteoric rise:

• The city is now a magnet for global capability centres
• Hosting over 350 such entities
• Anchored by a world-class talent base in technology and BFSI (banking, financial services, and insurance)

Key Deal Highlights

Metric	Details
Asset Name	Q-City (to be The Square)
Location	Hyderabad, Financial District
Size	0.81 million sq ft
Total Land Area	6 acres
Acquisition Value	Rs 496 crore (gross)
Capital Value	Rs 6,130 per sq ft
Portfolio after Deal	16+ million sq ft in Hyderabad
Occupancy (current)	65%
Acquisition Method	Horizonview SPV, funded via debt