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earnings | IST

Mindspace REIT Q4FY21: Office rentals to bounce back strong, says management

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Mindspace Business Park REIT reported a healthy set for the fourth quarter of the financial year 2021. Vinod Rohira, CEO of the company, discussed the performance in an interview with CNBC-TV8.

Mindspace Business Park REIT reported a healthy set for the fourth quarter of financial year 2021. Vinod Rohira, CEO of the company, discussed the performance in an interview with CNBC-TV8.
There was a pick up in demand at the start of the year around January, February and there were new enquiries too. However, the second wave hit a pause button on this.
“Everyone was focused on safety and health during the second wave of COVID-19. So the demand was paused. All of that had started again,” he added.
With COVID-19 second wave starting to ebb slightly and the vaccination drive expected to pick up, he expects things to change dramatically going forward.
“We expect occupancy rentals to remain strong,” he said.
“The companies have dramatically ramped up their hires in the last quarter. The minute you find stability back again, you will find people coming back to the workspace and with this kind of ramp up, you will need to take office space to come back to work within offices. So the fundamentals being extremely strong, we see that the comeback is just a matter of a few more quarters,” he shared.
For the full interview, watch the video