Mindspace REIT named GRESB 2026 sector leader

Mindspace REIT has been named a GRESB 2026 Sector Leader in both the Development and Standing Investments benchmarks, after the trust scored a perfect 100 out of 100 in the development assessment. The recognition, announced in Mumbai on 19 October 2026, covers the office REIT portfolio of Mindspace Business Parks REIT, which is listed on the BSE and the NSE.

In the GRESB 2026 Development Benchmark, Mindspace REIT took the top position in the Office/Asia, Office/Listed and Asia/Listed categories, and was named Global Sector Leader, Global Sector Leader Listed and Regional Sector Leader. The trust also ranked first among 12 entities in its India office REIT peer group and kept a 5-Star GRESB rating.

Mindspace REIT development score reaches 100

The development score reflects full marks across the management and development practices GRESB assessed, including ESG governance, policies, risk management, stakeholder processes and sustainability measures used in development work. Mindspace REIT has now been named Global Sector Leader in the Development Benchmark for four consecutive years, and its development score moved up from 99.5 in 2023 to 100 in 2026.

The trust also recorded a perfect Management Score of 30 out of 30 in the development assessment. The GRESB 2026 result reflects sustainability practices built into the design and development stages of its portfolio.

Mindspace REIT standing investments score rises to 94.2

In the Standing Investments benchmark, Mindspace REIT scored 94.2 out of 100 and kept a 5-Star rating. The trust was named Regional Sector Leader Listed and Global Sector Leader Listed, moving up from Regional Sector Leader in the previous year. Its standing investments score rose from 93.0 in 2025 and from 91.2 in 2023.

Mindspace REIT also recorded a perfect Management Score of 30 out of 30 in standing investments. GRESB assesses the sustainability performance of operating portfolios in this benchmark, and the higher score points to continued progress in how the existing buildings are run.

Green buildings across the Mindspace REIT portfolio

Across the portfolio, green buildings make up 99.9 percent of the certified area, including standing investments and development projects. Among completed green buildings, 91 percent carry a Platinum green building rating. Renewable energy made up 50.4 percent of the total operational energy mix in FY2026, and construction waste diversion from landfill stood at 100 percent.

The trust also had its emissions reduction targets validated by the Science Based Targets initiative under its buildings sector criteria during FY2026. During the year, all new acquisitions were assessed through environmental and social due diligence, and all new development projects were subject to embodied carbon assessments through project level life cycle assessments.

Ramesh Nair, chief executive officer and managing director of the trust, said: "The real test of sustainability is how effectively it translates into the way buildings are designed, developed and operated." He said the trust is working across design, development and operation to reduce the environmental impact of its portfolio, from assessing embodied carbon in new developments to improving operational energy performance.

Mindspace Business Parks REIT is sponsored by the K Raheja Corp group and listed on the Indian bourses in August 2020. The office REIT owns office assets in the Mumbai Region, Pune, Hyderabad and Chennai, and its portfolio has a total leasable area of about 46.2 million sq ft, made up of 36.0 million sq ft of completed area, 6.6 million sq ft under construction and 3.5 million sq ft of future development. The portfolio has 7 integrated business parks and 9 independent office assets, with more than 312 tenants.