Mindspace Business Parks REIT (MINDSPACE.BO) is currently considered not halal (non-compliant), per In-house ratio engine (last assessed 2026-08-27). See the full ratio breakdown and business-activity screen below for the reasoning.
⚠️ Financial ratios are only half the screen. A company whose core business is in an excluded sector — weapons/defense, alcohol, gambling, conventional (interest-based) finance, tobacco, pork, or adult entertainment — is non-compliant even if every debt and income ratio passes. So passing ratios below don't override this verdict; check the business-activity screen for the reason.
Computed from Yahoo Finance fundamentals (Tier-4 provider, no filing available), balance sheet as of 2026-03-31. MINDSPACE.BO files no SEC reports, so these ratios come from the issuer's own published statements rather than XBRL.
Business activity: cleared (no excluded categories detected)
| Ratio | Value | Threshold | Result |
|---|---|---|---|
| Interest-bearing debt | 40.91% | 30.00% | Fail |
| Interest-bearing investments | 3.83% | 30.00% | Pass |
| Non-permissible income | 2.91% | 5.00% | Pass |
| Ratio | Value | Threshold | Result |
|---|---|---|---|
| Interest-bearing debt | 41.12% | 33.00% | Fail |
| Interest-bearing investments | 3.85% | 33.00% | Pass |
| Non-liquid assets | 95.99% | at least 20.00% | Pass |
| Non-permissible income | 2.91% | 5.00% | Pass |
| Ratio | Value | Threshold | Result |
|---|---|---|---|
| Interest-bearing debt | 41.12% | 33.33% | Fail |
| Cash + interest-bearing securities | 3.85% | 33.33% | Pass |
| Accounts receivable | 4.01% | 33.33% | Pass |
| Non-permissible income | 2.91% | 5.00% | Pass |
| Ratio | Value | Threshold | Result |
|---|---|---|---|
| Interest-bearing debt | 41.12% | 33.33% | Fail |
| Cash + interest-bearing securities | 3.85% | 33.33% | Pass |
| Accounts receivable | 4.01% | 50.00% | Pass |
| Non-permissible income | 2.91% | 5.00% | Pass |
Scored against a trailing-average market cap (24-month), share-weighted by the issuer's own reported share counts — not today's market cap.
| Ratio | Value | Threshold | Result |
|---|---|---|---|
| Interest-bearing debt | 52.38% | 33.00% | Fail |
| Cash + interest-bearing securities | 4.90% | 33.00% | Pass |
| Accounts receivable | 0.21% | 33.00% | Pass |
| Non-permissible income | 2.91% | 5.00% | Pass |
Scored against a trailing-average market cap (36-month), share-weighted by the issuer's own reported share counts — not today's market cap.
| Ratio | Value | Threshold | Result |
|---|---|---|---|
| Interest-bearing debt | 58.60% | 33.00% | Fail |
| Cash + interest-bearing securities | 5.49% | 49.00% | Pass |
| Accounts receivable | 0.23% | 49.00% | Pass |
| Non-permissible income | 2.91% | 5.00% | Pass |
Scored against a trailing-average market cap (36-month), share-weighted by the issuer's own reported share counts — not today's market cap.
| Ratio | Value | Threshold | Result |
|---|---|---|---|
| Interest-bearing debt | 58.60% | 33.33% | Fail |
| Cash + interest-bearing securities | 5.49% | 33.33% | Pass |
| Accounts receivable | 5.72% | 49.00% | Pass |
| Non-permissible income | 2.91% | 5.00% | Pass |
Research only, not investment advice. Thresholds are each standard-setter's published limits; a ratio marked “at least” is a floor, not a ceiling.
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Classic floor-trader pivots from the last completed daily bar. Highlighted pills are the levels bracketing the current price.
The range is measured volatility (ATR over the horizon), not a target — a wider band means a more volatile asset, not a stronger view. The direction is the indicator tally above. Every forecast is recorded when made and scored against the real price when it comes due, including the wrong ones. Not a recommendation, and not a fatwa.
| Indicator | Value | Signal |
|---|---|---|
| RSI (14) | 47.60 | NEUTRAL |
| Stochastic %K (14) | 43.04 | NEUTRAL |
| CCI (20) | -81.54 | NEUTRAL |
| Williams %R (14) | -56.96 | NEUTRAL |
| MACD (12,26,9) | -0.83 | SELL |
| ROC (10) | 0.94 | BUY |
| Momentum (10) | 4.59 | BUY |
| EMA (10) | 495.68 | SELL |
| SMA (10) | 496.78 | SELL |
| EMA (20) | 494.87 | SELL |
| SMA (20) | 495.77 | SELL |
| EMA (30) | 493.01 | SELL |
| SMA (30) | 494.25 | SELL |
| EMA (50) | 488.37 | BUY |
| SMA (50) | 490.51 | BUY |
| EMA (100) | 478.76 | BUY |
| SMA (100) | 473.84 | BUY |
| EMA (200) | 468.00 | BUY |
| SMA (200) | 466.98 | BUY |
Standard indicator thresholds (RSI 30/70, Stochastic 20/80, CCI ±100, Williams %R −80/−20, MACD histogram sign, price vs. average) computed on daily bars. A summary of what common indicators say — not a recommendation, and not this site's own trading verdict.
Real Estate · REIT - Office
Mindspace Business Parks REIT, sponsored by K Raheja Corp group, listed on the Indian bourses in August 2020. The REIT owns quality office assets located in four key office markets of India, namely Mumbai Region, Pune, Hyderabad, and Chennai, and is one of the largest Grade-A office portfolios globally. The portfolio has a total leasable area of 46.2 msf comprising of 36.0 msf of completed area, 6.6 msf of area under construction and 3.5 msf of future development. The portfolio consists of 7 integrated business parks and 9 quality independent office assets with superior infrastructure and amenities. It has a diversified and high-quality tenant base, with over 312 tenants. Most of the buildings in the portfolio are either Gold or Platinum Green Building Certified (IGBC/LEED). The assets provide a community-based ecosystem and have been developed to meet the evolving standards of tenants, and the demands of (new age businesses, making it amongst the preferred options for both multinational and domestic corporations. Mindspace Business Parks REIT was incorporated in 2019 in Maharashtra, India.
Background via Yahoo Finance — informational, not part of the verdict.
Peer movement computing — it will appear here on its own.
NO DATA 0 buys · 0 sells
NEUTRAL report date 2026-09-01 · Asset managers net 934180 (-19048)
Plain-language summary of the evidence already on this page — the Sharia screen, structure, momentum, and order flow above. It explains the read; it doesn't make the call. Generated on demand (a live AI call), never run automatically.