Interface, Malad

Question 1

Area of Property Bought

Answer 1

42,900 sq ft

Question 2

Property bought on

Answer 2

July 2019

Question 3

Acquisition price of property

Answer 3

41. 83 cr [9750]
42. 63 cr

45.46 cr [10600/- ]

Question 4

Monthly Rental - Lacs

Answer 4

29.64 Lacs

Question 5

Annual Rental - Crores

Answer 5

3.56 crores

Question 6

Property Tax

Answer 6

3.51 psf / pm

Question 7

Address of Property

Answer 7

101 & 102, Interface 11, Malad West

Question 8

Details of Interface Complex

Answer 8

Interface 11 : 3 Lacs sq ft

8 Office Buildings totaling 2.5 Mn sq ft

4 Buildings equal 1.2 Mn sq ft (only constructed)

1. 11 : 2.95 L (2006)
2. 14 : 3.65 L / Vacant for 5 years
3. 7 : 2.66 L
4. 16 : 2.33 L (2005)

Question 9

Lease Details

Answer 9

1st March 2016

5 Years - Locked in till end

Question 10

Current Rental - psf / pm

Answer 10

69.1 psf / pm

Question 11

Security Deposit (Amt and Period)

Answer 11

1. 43 crores

4. 8 months

Question 12

Details of Tenant

Answer 12

Tecnimont ICB

1. Italian conglomerate
2. Specializes in plant engineering
3. Presence in 40 countries with revenue of 3.5 Bn Euro in 2017 ; Listed on Milan Stock Exchange
4. 60 years in India ; 2000+ people
5. Own Campus of 81000 sq ft
6. Occupies this space from 2006

Question 13

Competing rentals – Latest

Answer 13

JP Morgan Chase – 90 / 2.5 Lacs sq ft

Mindspace (Prism A) / Q12020

Question 14

Leverage

Answer 14

None

Question 15

Property Usage

Answer 15

IT/ITes

Question 16

Efficiency

Answer 16

82.7%

Carpet : 35474 sq ft

Question 17

Parkings

Answer 17

43

Question 18

Infra Connectivity

Answer 18

Metro Line 2A (Dahisar West – DN Nagar Metro Station)

Contract to J. Kumar Infraprojects – 8 elevated stations

Question 19

CAM

Answer 19

5.86 psf / pm

Question 20

Developer

Answer 20

K Raheja Realty

Question 21

Target Sale Price

Answer 21

14167/-

Question 22

Target Exit Rental

Answer 22

79.46

Question 23

Target Exit IRR

Answer 23

15.78%

Question 24

Target Exit Timelines

Answer 24

Dec 22

Question 25

Vacancy in Building

Answer 25

2nd Floor – check (42900)

Question 26

Details of Building 11 ; Floor Plate

Answer 26

- 1 to 8 | - 42900 sq ft

Question 27

Other Tenants in Building 11

Answer 27

1. Tecnimont 2. ICICI Lombard 3. SSC Globeops 4. Emirates 5. Just Dial 6. Sony Network

Question 28

Tecnimont ownership

Answer 28

1. Own office – 81000 sq ft 2. Building 11 a. 7th – 21450 (owned) b. 5th – 21450 (leased) c. 1st – 42900 (leased)

Question 29

Other Competing Buildings

Answer 29

1. Prism Towers – 10.53 L [2005] 2. Paradigm – 6.87 L [2003] 3. Techniplex – 5.4 L [2009-11] 4. Magnus – 3.34 L [2002] 5. Eureka – 2.1 L

Question 30

Exit Cap Rate

Answer 30

7.0%