Mindspace REIT Earns Perfect Score in GRESB Development Benchmark, Earns Sector Leader Titles

Key ESG Measures: 99.9% green-certified portfolio; 50.4% renewable-energy share; 100% construction-waste diversion

MUMBAI (India CSR): Mindspace Business Parks REIT has been named a GRESB 2026 Sector Leader across the Development and Standing Investments benchmarks, following its performance in the global sustainability assessment for real assets. In the Development Benchmark, the office REIT scored 100 out of 100 and received a 5-Star GRESB rating. It ranked first in the Office/Asia, Office/Listed and Asia/Listed categories, and was recognised as Global Sector Leader, Global Sector Leader—Listed and Regional Sector Leader. Mindspace REIT also ranked first among 12 entities in its India Office peer group. The recognition is based on GRESB scores and identifies the highest-scoring entities within their sector, region and ownership category. Listed on the BSE and NSE as MINDSPACE, the REIT owns and develops Grade A office assets. Its development assessment covered management systems, governance, risk processes, stakeholder engagement and sustainability measures used in new development projects during the 2026 assessment cycle.

Four Years Leading

The result extends Mindspace REIT’s record in the Development Benchmark. The company has been recognised as Global Sector Leader in the benchmark for four consecutive years, while its development score improved from 99.5 in 2023 to 100 in 2026. It also recorded a perfect Management Score of 30 out of 30 in Development. The assessment attributes the 2026 result to full points across the management and development practices reviewed by GRESB, including ESG governance, policies, risk management, stakeholder processes and sustainability measures. GRESB’s Development Benchmark evaluates the sustainability performance of entities undertaking new construction and major renovation projects. Mindspace REIT’s top rankings covered Office/Asia, where it placed first of 16 entities; Office/Listed, first of 13; and Asia/Listed, first of 38. The company said the outcome reflects sustainability practices embedded through the design and development stages of its portfolio. The results position it among the highest-scoring listed office property owners assessed.

Standing Portfolio Advances

Mindspace REIT strengthened its performance in the Standing Investments Benchmark, which assesses the operational sustainability performance of existing real estate portfolios. It achieved a score of 94.2 out of 100, up from 93.0 in 2025 and 91.2 in 2023, and received a 5-Star rating. The REIT was awarded the Global Sector Leader—Listed and Regional Sector Leader—Listed titles. The result represents an advance from its Regional Sector Leader recognition in the previous year to Global Sector Leader status in 2026, according to the company. It also secured a perfect Management Score of 30 out of 30 in the standing investments assessment. The standing portfolio score covers the policies, management approach and operational measures considered by GRESB. The data show continuing progress in the REIT’s assessed operational portfolio, with its scores improving over the three-year period. The recognition reflects progress in the assessment of its portfolio, the company said in its release.

Verified Operational Measures

According to the company, 99.9% of Mindspace REIT’s portfolio, including standing investments and development projects, is covered by green-building certifications. It said 91% of the completed portfolio is green building certified with a Platinum rating. The REIT reported that renewable energy represented 50.4% of its total operational energy mix during FY2026. It also reported 100% diversion of construction waste from landfill. These portfolio-level measures were cited alongside its GRESB results, which cover both development and operating assets. During FY2026, the REIT said all new acquisitions underwent Environmental and Social Due Diligence, a process that it said will also apply to upcoming acquisitions. All new development projects are subject to embodied-carbon assessments through project-level life-cycle assessments. Its sustainable design measures include on-site renewable-energy systems, according to the release. The company also said all LEED Operations and Maintenance-certified buildings are assessed through Arc Energy Performance Scores as part of operational sustainability initiatives.

Leadership Explains Approach

Ramesh Nair, CEO and Managing Director of Mindspace REIT, said the company’s sustainability approach covers the design, development and operation of its buildings. “The real test of sustainability is how effectively it translates into the way buildings are designed, developed and operated,” Nair said. “At Mindspace REIT, we are working across these stages to reduce the environmental impact of our portfolio, from assessing embodied carbon in new developments to improving operational energy performance.” He said resource efficiency, responsible development and science-based climate targets remain central to the company’s approach. Mindspace REIT said its emissions-reduction targets were validated by the Science Based Targets initiative under the buildings-sector criteria during FY2026. The GRESB recognition follows this integration of ESG processes across its development and operational portfolio. GRESB evaluates entities on environmental, social and governance indicators, with Sector Leader recognition given to top-scoring participants in their respective categ