Preeti Naveen Chheda, CFO, Mindspace Business Parks REIT, Ensuring Financial Discipline
Preeti Naveen Chheda, Chief Financial Officer, Mindspace Business Parks REIT leads the compliance, reporting & governance aspects of ESG for Mindspace REIT. As such, her responsibility involves laying the right ESG governance structure, benchmarking ESG practices, participating in global real estate sustainability rating exercises, sustainability reporting, etc
With its motto of “growing responsibly and acting sustainably”, all business functions need to aligned towards achieving this goal. Over the past three years, the capital pool of Mindspace REIT has now diversified from banks to mutual funds, pension funds and insurance. This has ensured that a deeper pool of capital is available and they are not excessively dependent on one source.
A diversified source of funding also allows the company to effectively negotiate with lenders and keep the borrowing costs low.
“The organisation’s vision is to be a trusted leader in the realty industry, as a creator of enduring experiences for customers, partners, and employees alike. Our strong financial discipline has resulted in the efficient deployment of capital. I have focused more on organically growing the portfolio and have stayed away from inorganic growth opportunities which are not value accretive,” said Chheda to BW BusinessWorld.
She added: “We continuously monitor our funding lines and replace higher-cost borrowings with lower-cost borrowings.”
The company’s strong financial discipline has resulted in efficient deployment of capital.
