Mindspace Business Parks REIT, sponsored by K Raheja Corp (MINDSPACE) fair value: what the stock is really worth
As of Oct 5, 2026: fair value of Mindspace Business Parks REIT, sponsored by K Raheja Corp ₹445, price ₹498, upside -10.7%, quality 49 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 1, 2026.
How to read this chart
60‑month range ₹237.33 – ₹508.90 · fair‑value band ₹221.68 – ₹933.80 · the ₹497.74 price screens above the ₹444.64 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Oct 1, 2026.
Follow Mindspace Business Parks REIT, sponsored by K Raheja in your weekly email
Every Wednesday you see whether Mindspace Business Parks REIT, sponsored by K Raheja is on track or worth a review, plus price against fair value. Free, up to 3 stocks.
We send you a confirmation link. Unsubscribe with one click.
Mindspace Business Parks REIT, sponsored by K Raheja Corp group, listed on the Indian bourses in August 2020. The REIT owns quality office portfolios located in four key office markets of India, namely Mumbai Region, Pune, Hyderabad, and Chennai, and is one of the largest Grade-A office portfolios in India.
Show more
Mindspace Business Parks REIT, sponsored by K Raheja Corp group, listed on the Indian bourses in August 2020. The REIT owns quality office portfolios located in four key office markets of India, namely Mumbai Region, Pune, Hyderabad, and Chennai, and is one of the largest Grade-A office portfolios in India. The portfolio has a total leasable area of 33.1 msf comprising of 26.2 msf of completed area, 4.4 msf of area under construction and 2.5 msf of future development. The portfolio consists of 5 integrated business parks and 5 quality independent office assets with superior infrastructure and amenities. It has a diversified and high-quality tenant base, with over 210 tenants as of December 31, 2023. Most of the buildings in the portfolio are either Gold or Platinum Green Building Certified (IGBC/LEED). The assets provide a community-based ecosystem and have been developed to meet the evolving standards of tenants, and the demands of "new age businesses', making it amongst the preferred options for both multinational and domestic corporations.
Stock analysis
Mindspace Business Parks REIT, sponsored by K Raheja Corp (MINDSPACE) currently trades at ₹497.74, while our model-based Fair Value estimate is ₹444.64, 10.7% below the price, so the stock looks overvalued today.
Show more
Valuation
Bull case: the DCF Models group reads highest at a median of ₹563.43 per share, and 5 of the 16 models we run sit above the ₹497.74 price.
Bear case: the Asset-Based group reads lowest at ₹152.29, and 11 of the 16 models stay below the price. Evidence for this calculation is high.
Scenario range: ₹221.68 (bear) to ₹933.80 (bull), the price of ₹497.74 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 49/100 (below-average quality), in the Real Estate sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Mindspace Business Parks REIT, sponsored by K Raheja Corp reported revenue of ₹32.3B in FY2026 versus ₹17.3B in FY2022, a compound +16.9%/yr. Reported net income was ₹6.5B in FY2026, compounding +11.4%/yr from FY2022.
Key figures
Market cap ₹323B (≈ $3.4B) · P/E ratio 41.6 · P/S ratio 8.41 · EPS (TTM) ₹11.96 · Dividend yield 5.0% · Net margin 20.2% · Return on equity 5.2% · Return on assets (EBIT) 5.4%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).
What moves the price
The share trades about 2% below its 52-week high and 16% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Real Estate peers we cover trades at 3% fair-value upside, at −11%, MINDSPACE screens richer than that median.
Fair Value models
Bear ₹221.68Fair Value ₹444.64Bull ₹933.80
Price ₹497.74 · Upside -10.7%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+26.2%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+12.9%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+23.4%
Start year 2021 (pandemic)
Revenue growth 6 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+10.7%
’20
’21
’22
’23
’24
’25
’26
What shareholders gained per year (last 5 years), in INR ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in INR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+12.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year+7.1%
Dividend (yield on the price)5.0%
Profit margin 2021 to 2026 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.57% → 60%
Growth Forecast
A lot of optimism in the price
The price assumes about as much growth as the company has delivered so far and more than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+25.1%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+15.7%
Yearly sales growth analysts expect, extended to five years.
After inflation (India: IMF forecast 4.1% a year to 2030, 4.7% from 2016 to 2025) that is about +20.2% a year for the price and +11.1% for the forecasts.
Compare Mindspace Business Parks REIT, sponsored by K Raheja Corp with another stock
Price, fair value, quality and upside side by side.
Free, no sign-up
Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.REIT - Office · 71 stocks
Beats the industry median on 6/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score49 · Below median
Fair Value upside−10.7% · Below median
Profitability
Return on equity (TTM)5.2% · Above median
Return on assets4.3% · Top 25%
Net margin (TTM)21.7% · Above median
Operating margin (TTM)65.2% · Top 25%
Growth and dividend
Revenue growth28.2% · Top 25%
Dividend yield (TTM)5.0% · Below median
Balance sheet
Debt / equity0.63× · Below median
Valuation Multiplesvs REIT - Office median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Mindspace Business Parks REIT, sponsored by K Raheja Corp Fair Value". https://www.fairvalue-calculator.com/stock/MINDSPACE
Frequently asked questions
Is Mindspace Business Parks REIT, sponsored by K Raheja Corp (MINDSPACE) overvalued or undervalued?
As of Oct 1, 2026, our model estimates a fair value of ₹444.64 versus a price of ₹497.74, about −11% upside (overvalued).
What is the fair value of MINDSPACE?
Our model-based fair value for Mindspace Business Parks REIT, sponsored by K Raheja Corp is ₹444.64 (as of Oct 1, 2026), built from audited fundamentals. The current price: ₹497.74.
What is the quality score of MINDSPACE?
Mindspace Business Parks REIT, sponsored by K Raheja Corp has a Quality Score of 49/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Mindspace Business Parks REIT, sponsored by K Raheja Corp (MINDSPACE)?
Our model-based price target is the fair value of ₹444.64 (as of Oct 1, 2026) from 16 valuation models. Cautious scenario ₹221.68, optimistic scenario ₹933.80. It is a calculation from audited fundamentals, not an analyst target.
What is the Mindspace Business Parks REIT, sponsored by K Raheja Corp stock forecast for 2026?
Our models put fair value at ₹444.64, about −11% upside versus a price of ₹497.74 (overvalued). Cautious scenario ₹221.68, optimistic scenario ₹933.80. The calculation is refreshed regularly with new filings.
What is the revenue of Mindspace Business Parks REIT, sponsored by K Raheja Corp (MINDSPACE)?
Mindspace Business Parks REIT, sponsored by K Raheja Corp reported trailing-twelve-month revenue of about ₹34.9B (latest available figure, as of Oct 1, 2026).
Does Mindspace Business Parks REIT, sponsored by K Raheja Corp pay a dividend?
Mindspace Business Parks REIT, sponsored by K Raheja Corp currently shows a dividend yield of about 5.02% relative to its recent price (as of Oct 1, 2026).
What growth is priced into Mindspace Business Parks REIT, sponsored by K Raheja Corp (MINDSPACE)?
For today's price to be fair in a discounted-cash-flow model, Mindspace Business Parks REIT, sponsored by K Raheja Corp would have to grow free cash flow by +25.1 % per year for five years (discount rate 10.9 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +23.4 % per year. As of Oct 1, 2026.
What discount rate (WACC) does the fair value of MINDSPACE use?
Our models discount Mindspace Business Parks REIT, sponsored by K Raheja Corp at 10.9 %: a base by market capitalisation (mid), damped by beta 0.14, country premium for India. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Mindspace Business Parks REIT, sponsored by K Raheja Corp that is +25.1 % per year a year over ten years, using the same discount rate (10.9 %) and the same formula as our fair value.
How much growth has Mindspace Business Parks REIT, sponsored by K Raheja Corp (MINDSPACE) delivered so far?
Over the past 5 years revenue at Mindspace Business Parks REIT, sponsored by K Raheja Corp grew +23.4 % a year. The price currently implies +25.1 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Mindspace Business Parks REIT, sponsored by K Raheja Corp (MINDSPACE) growing?
The median revenue growth in the sector is +2.2 % a year. That is the yardstick for the growth priced into Mindspace Business Parks REIT, sponsored by K Raheja Corp (+25.1 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Mindspace Business Parks REIT, sponsored by K Raheja Corp (MINDSPACE)?
The free-cash-flow yield on the price is 3.53 %: that much free cash flow Mindspace Business Parks REIT, sponsored by K Raheja Corp produces per unit of market value. When it exceeds the discount rate of our models (10.9 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Mindspace Business Parks REIT, sponsored by K Raheja Corp (MINDSPACE)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Mindspace Business Parks REIT, sponsored by K Raheja Corp it is ₹444.64 per share (as of Oct 1, 2026), against a price of ₹497.74. It is the blended result of 16 valuation models (cash flow, earnings, asset, dividend).
Is Mindspace Business Parks REIT, sponsored by K Raheja Corp stock overvalued or undervalued in 2026?
As of Oct 1, 2026, MINDSPACE trades above its calculated fair value: price ₹497.74, fair value ₹444.64, a gap of about −11% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of MINDSPACE?
No. The price is what the market pays today (₹497.74); the fair value is what the company's own numbers justify (₹444.64). For Mindspace Business Parks REIT, sponsored by K Raheja Corp the two are ₹53.10 per share apart. That gap is exactly why we show both numbers side by side.
How much is Mindspace Business Parks REIT, sponsored by K Raheja Corp worth?
The market values Mindspace Business Parks REIT, sponsored by K Raheja Corp at about ₹323B (market capitalisation, as of Oct 1, 2026). Per share that is ₹497.74; our models calculate a fair value of ₹444.64 per share.
What do the bullish and bearish scenarios say about MINDSPACE?
Our models span a range for Mindspace Business Parks REIT, sponsored by K Raheja Corp: cautious scenario ₹221.68, base ₹444.64, optimistic ₹933.80 per share (as of Oct 1, 2026, price ₹497.74). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of MINDSPACE?
Mindspace Business Parks REIT, sponsored by K Raheja Corp trades at a price-to-earnings ratio of 41.6 (as of Oct 1, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ₹444.64 is built from several models across several years. Other multiples: P/B 2.1, P/S 9.2, EV/EBITDA 15.0.
How solid is the balance sheet of Mindspace Business Parks REIT, sponsored by K Raheja Corp (MINDSPACE)?
Balance-sheet figures for Mindspace Business Parks REIT, sponsored by K Raheja Corp (as of Oct 1, 2026): return on equity 5.2%, debt of 0.63 per unit of equity. They feed the Quality Score of 49/100, which measures business quality independently of the share price.
How far is MINDSPACE from its 52-week high?
Mindspace Business Parks REIT, sponsored by K Raheja Corp trades at ₹497.74, about 2% below its 52-week high of ₹508.90 and 16% above the low of ₹428.36 (as of Oct 5, 2026). Distance from the high says nothing about value: that is what the fair value of ₹444.64 is for.
Which stocks are comparable to Mindspace Business Parks REIT, sponsored by K Raheja Corp?
From the same area (Real Estate) we also value BXP, Inc, Vornado Realty Trust, Alexandria Real Estate Equities, Inc, MERLIN Properties SOCIMI, S.A, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Mindspace Business Parks REIT, sponsored by K Raheja Corp stock attractive at the current price?
The data as of Oct 1, 2026: price ₹497.74, calculated fair value ₹444.64 (−11%), Quality Score 49/100, from 16 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of MINDSPACE calculated?
We run Mindspace Business Parks REIT, sponsored by K Raheja Corp through 16 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ₹444.64, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 15.0 % above its aggregate fair value. Mindspace Business Parks REIT, sponsored by K Raheja Corp itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Mindspace Business Parks REIT, sponsored by K Raheja Corp (MINDSPACE)?
The closing price on Oct 5, 2026 was ₹497.74. Our model-based fair value is ₹444.64, about −11% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Mindspace Business Parks REIT, sponsored by K Raheja Corp right now?
The model range is unusually wide (₹221.68 to ₹933.80). The outcome hinges heavily on assumptions, so read the point estimate with caution. As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Key figures of Mindspace Business Parks REIT, sponsored by K Raheja Corp
How large is the market capitalisation of Mindspace Business Parks REIT, sponsored by K Raheja Corp (MINDSPACE)?
The market capitalisation of Mindspace Business Parks REIT, sponsored by K Raheja Corp is ₹323B (≈ $3.4B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Mindspace Business Parks REIT, sponsored by K Raheja Corp (MINDSPACE)?
The price-to-sales ratio of Mindspace Business Parks REIT, sponsored by K Raheja Corp is 8.41 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Mindspace Business Parks REIT, sponsored by K Raheja Corp (MINDSPACE)?
Earnings per share at Mindspace Business Parks REIT, sponsored by K Raheja Corp are ₹11.96 (price ÷ EPS = P/E 41.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Mindspace Business Parks REIT, sponsored by K Raheja Corp (MINDSPACE)?
The dividend yield of Mindspace Business Parks REIT, sponsored by K Raheja Corp is 5.0%. Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Mindspace Business Parks REIT, sponsored by K Raheja Corp (MINDSPACE)?
The net margin of Mindspace Business Parks REIT, sponsored by K Raheja Corp is 20.2% (fiscal year 2026). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Mindspace Business Parks REIT, sponsored by K Raheja Corp (MINDSPACE)?
The return on equity (ROE) of Mindspace Business Parks REIT, sponsored by K Raheja Corp is 5.2% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Mindspace Business Parks REIT, sponsored by K Raheja Corp (MINDSPACE)?
On an EBIT basis the return on assets of Mindspace Business Parks REIT, sponsored by K Raheja Corp is 5.4% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Mindspace Business Parks REIT, sponsored by K Raheja Corp (MINDSPACE)?
The operating margin of Mindspace Business Parks REIT, sponsored by K Raheja Corp is 65.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Mindspace Business Parks REIT, sponsored by K Raheja Corp (MINDSPACE)?
Revenue at Mindspace Business Parks REIT, sponsored by K Raheja Corp is growing +28.2% versus a year earlier (3y avg +12.9%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Mindspace Business Parks REIT, sponsored by K Raheja Corp (MINDSPACE)?
Earnings per share at Mindspace Business Parks REIT, sponsored by K Raheja Corp are growing +55.2% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Mindspace Business Parks REIT, sponsored by K Raheja Corp (MINDSPACE) carry?
The net debt of Mindspace Business Parks REIT, sponsored by K Raheja Corp is ₹118B (fiscal year 2026, ≈ 10.3 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
Free · no account needed
Watch Mindspace Business Parks REIT, sponsored by K Raheja Corp in the live analysis
One click puts Mindspace Business Parks REIT, sponsored by K Raheja Corp on your watchlist: fair value and trend at a glance, plus comparison, the diversification check and the 35,000+ stock screener. You can also try 14 days of Pro there, no card.
