Phoenix Mills surges on reporting 20% growth in total consumption in Q2FY24
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The Phoenix Mills is currently trading at Rs. 1851.65, up by 53.10 points or 2.95% from its previous closing of Rs. 1798.55 on the BSE.
The scrip opened at Rs. 1845.95 and has touched a high and low of Rs. 1869.05 and Rs. 1820.85 respectively. So far 6926 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1907.20 on 21-Sep-2023 and a 52 week low of Rs. 1186.45 on 16-Mar-2023.
Last one week high and low of the scrip stood at Rs. 1869.05 and Rs. 1730.50 respectively. The current market cap of the company is Rs. 33014.28 crore.
The promoters holding in the company stood at 47.30%, while Institutions and Non-Institutions held 48.48% and 4.22% respectively.
Phoenix Mills has reported 20% growth year-on-year (Y-o-Y) in total consumption in Q2FY24 to Rs 2637 crore over Q2FY23. On a like-to-like basis, consumption in Q2FY24 has grown by 10% over Q2 FY23. Retail collections stood at around Rs 638 crore in Q2FY24, with a growth of 23% over Q2FY23.
For H1FY24, its total consumption stood at around Rs 5211 crore, demonstrating a YoY growth of 19% over H1 FY23. On a like-to-like basis, consumption in H1FY24 has grown by 10% over H1FY23. Retail collections stood at around Rs 1,252 crore in H1FY24, with a growth of 20% over H1FY23.
For Q2FY24, total residential sales were Rs 292 crore, up by 193 percent against Q2FY23, while collections stood at around Rs 184 crore s in Q2FY24.
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.
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