Gigaplex Estate (Gigaplex), one of the special purpose vehicles (SPV) of Mindspace REIT, has entered into an agreement to sub-lease with a leading data center operator to sub-lease approximately 0.63 million sq. ft. at Mindspace, Airoli West, Mumbai (Agreement). With increased internet usage, growing demand for data storage and anticipated data localisation norms Mumbai stands to benefit due to its geographical and infrastructural advantage. Government's focus on Digital India and the ongoing Covid-19 pandemic have further catalysed the process of digitization. To effect this, Gigaplex, pursuant to the approval of the Company's Board of Directors and the Manager's Governing Board, has amended the memorandum of understanding dated 16 December 2019, (MoU) entered into with K Raheja Corp (KRCPL), for proposed transfer of leasehold land admeasuring approximately 16.4 acres to KRCPL at Mindspace Airoli West, Mumbai, (Specified Land) in the manner set out in the MoU.