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Phoenix Mills shines as its arm declared as highest bidder for two prime city-centric plots in Mohali, Punjab
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The Phoenix Mills is currently trading at Rs. 1806.50, up by 43.55 points or 2.47% from its previous closing of Rs. 1762.95 on the BSE.
The scrip opened at Rs. 1815.05 and has touched a high and low of Rs. 1878.15 and Rs. 1787.65 respectively. So far 6044 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 2068.15 on 18-Jul-2024 and a 52 week low of Rs. 862.50 on 26-Oct-2023.
Last one week high and low of the scrip stood at Rs. 1878.15 and Rs. 1650.00 respectively. The current market cap of the company is Rs. 126047.34 crore.
The promoters holding in the company stood at 47.27%, while Institutions and Non-Institutions held 48.74% and 3.98% respectively.
Phoenix Mills’ (PML) wholly owned subsidiary -- Casper Realty has been declared as the highest bidder for two prime city-centric plots in Mohali, Punjab. These plots -cumulatively admeasuring around 13.14 acres and located in Sector 62, YPS Chowk, Sahibzada Ajit Singh Nagar (Mohali) - were auctioned by Greater Mohali Development Area Authority (GMADA).
Casper was declared as the highest bidder, with a combined bid value of approximately Rs 891 crore. The payment shall be completed within the timelines stipulated by GMADA. Both plots are classified for commercial use and the Company intends to develop an iconic retail-led, mixed-use development on this land parcel.
With excellent connectivity, this land parcel, situated at YPS Chowk—between Chandigarh and Sahibzada Ajit Singh Nagar (Mohali), is well-positioned to capitalize on the growing demand for retail and entertainment spaces in the Chandigarh Metropolitan Region (CMR). CMR encompasses the union territory of Chandigarh and its neighbouring cities, including Panchkula, Mohali, Zirakpur, New Chandigarh, Kharar, Pinjore, Kalka, and Barwala. Strategically located at the crossroads of Punjab, Haryana, and Delhi, the CMR region has emerged as a prime destination for real estate development.
Phoenix Mills is engaged in property development in India. Its activities include planning, execution, and marketing of projects, property rental and management, and maintenance and sale of the completed properties.
