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Phoenix Mills surges on opening `Phoenix Mall of the Millennium` in Pune The Phoenix Mills is currently trading at Rs. 1839.55, up by 26.95 points or 1.49% from its previous closing of Rs. 1812.60 on the BSE. The scrip opened at Rs. 1819.95 and has touched a high and low of Rs. 1858.95 and Rs. 1819.95 respectively. So far 5118 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1901.20 on 05-Sep-2023 and a 52 week low of Rs. 1186.45 on 16-Mar-2023. Last one week high and low of the scrip...
Phoenix Mills surges on opening `Phoenix Mall of the Millennium` in Pune
Phoenix Mills surges on opening `Phoenix Mall of the Millennium` in Pune
Source: Accord Fintech
8/09/2023 12:43:08 PM
Neutral The Phoenix Mills Ltd For Target Rs.1,845 - Motilal Oswal An all-round beat but near-term growth priced in We initiated coverage on Phoenix Mills (PHNX) in Mar’23 with a positive view on the back of a healthy ramp-up in new malls in Indore and Ahmedabad and the scheduled completion of malls in Pune and Bengaluru (est. 34% EBITDA CAGR over FY23-25). The company has progressed well on ramping up occupancy in Indore and Ahmedabad and is on track to deliver Pune and Bengaluru malls in 2QFY24. Thus, we continue to estimate a 31% EBITDA CAGR over...
Neutral The Phoenix Mills Ltd For Target Rs.1,845 - Motilal Oswal
Neutral The Phoenix Mills Ltd For Target Rs.1,845 - Motilal Oswal
Source: Motilal Oswal Financial Services
22/08/2023 2:23:00 PM
Buy The Phoenix Mills Ltd For Target Rs.1,851 - ICICI Securities Strong start to FY24, on track to achieve double digit LTL consumption growth in FY24 The Phoenix Mills (PHNX) clocked Q1FY24 (Apr-Jun’23) like-to-like (LTL) consumption across malls at 109% of Q1FY23 (Apr-Jun’22) levels. Adjusted for store closures in Lifestyle Block of Palladium, Mumbai LTL consumption would have stood at 110% of Q1FY23 levels. With an expected ramp up in trading occupancy across operational malls of 5% along with inflation/volume linked consumption growth, t...
Buy The Phoenix Mills Ltd For Target Rs.1,851 - ICICI Securities
Buy The Phoenix Mills Ltd For Target Rs.1,851 - ICICI Securities
Source: ICICI Securities Ltd
8/07/2023 10:01:39 AM
Buy The Phoenix Mills Ltd For Target Rs.1,282 - ICICI Securities The Phoenix Mills (PHNX) clocked Mar’23 like-to-like (LTL) consumption across malls at 111% of Mar’19 levels (Mar’20 was first Covid impacted month hence notcomparable). However, Mar’23 LTL consumption was at 106% of Mar’22 levels. As we have been highlighting, while the FY23 LTL consumption was expected to range between 13-14% of FY20 (pre-Covid) levels adjusted for Mar’20 mallclosures, with a high base of FY23, we model for 5% LTL consumption/rentalCAGR f...
Buy The Phoenix Mills Ltd For Target Rs.1,282 - ICICI Securities
Buy The Phoenix Mills Ltd For Target Rs.1,282 - ICICI Securities
Source: ICICI Securities
10/04/2023 11:42:42 AM
Buy The Phoenix Mills Ltd For Target Rs.1,700 - Motilal Oswal Riding the consumption wave * Phoenix Mills (PHNX), a leading retail-led mixed use asset developer, operates 11 malls across eight cities in India and three new malls are currently under construction including one in Kolkata (ninth city). The company also operates few Grade-A standalone offices in Mumbai and Pune and is aiming to build offices on top of/adjacent to its malls to improve the yield on land. PHNX has also built one hotel each in Mumbai and Agra and residential projects in Beng...
Buy The Phoenix Mills Ltd For Target Rs.1,700 - Motilal Oswal
Buy The Phoenix Mills Ltd For Target Rs.1,700 - Motilal Oswal
Source: Motilal Oswal Financial Services
21/03/2023 10:39:58 AM
Buy The Phoenix Mills Ltd For Target Rs.1,638 - ICICI Securities Strong consumption revival, robust balance sheet The Phoenix Mills’ (PHNX) FY21 and FY22 operations were impacted by mall shutdowns across India owing to successive Covid waves. In FY22, like-to-like mall consumption was at 64% of FY20 levels with LTL rental income at 72% of FY20 levels (including spill over from FY21). However, with waning Covid impact, in Q1FY23 (Apr-Jun’22), LTL consumption across malls stood at Rs19.8bn or 111% of Apr-Jun’19 (Q1FY20) levels which tran...
Buy The Phoenix Mills Ltd For Target Rs.1,638 - ICICI Securities
Buy The Phoenix Mills Ltd For Target Rs.1,638 - ICICI Securities
Source: ICICI Securities Ltd
15/10/2022 9:51:39 AM
Buy The Phoenix Mills Ltd For Target Rs.1,638 - ICICI Securities The Phoenix Mills’ (PHNX) FY21 and FY22 operations were impacted by mall shutdowns across India owing to successive Covid waves. In FY22, like-to-like mall consumption was at 64% of FY20 levels with LTL rental income at 72% of FY20 levels (including spill over from FY21). However, with waning Covid impact, in Q1FY23 (Apr-Jun’22), LTL consumption across malls stood at Rs19.8bn or 111% of Apr-Jun’19 (Q1FY20) levels which translated into Q1FY23 retail LTL EBITDA of Rs2.9bn or 1...
Buy The Phoenix Mills Ltd For Target Rs.1,638 - ICICI Securities
Buy The Phoenix Mills Ltd For Target Rs.1,638 - ICICI Securities
Source: ICICI Securities Ltd
6/10/2022 11:34:22 AM
Buy The Phoenix Mills Ltd For Target Rs.1,645 - ICICI Securities Strong consumption growth sustains in Aug’22 The Phoenix Mills (PHNX) saw Aug’22 like-to-like (LTL) consumption across malls at Rs6.7bn or 114% of Aug’19 levels and mirrors the Jul’22 LTL consumption growth which was at 120% of Jul’19 levels on the back of retailers’ End of Season sale. In Q1FY23 (Apr-Jun’22), LTL consumption across malls stood at Rs19.8bn or 111% of Apr-Jun’19 (Q1FY20) levels which translated into Q1FY23 retail LTL EBITDA of...
Buy The Phoenix Mills Ltd For Target Rs.1,645 - ICICI Securities
Buy The Phoenix Mills Ltd For Target Rs.1,645 - ICICI Securities
Source: ICICI Securities
13/09/2022 10:45:59 AM
Buy The Phoenix Mills Ltd For Target Rs.1,392 - ICICI Securities Strong consumption growth in Apr-Jun’22 The Phoenix Mills (PHNX) saw Q1FY23 (Apr-Jun’22) like-to-like (LTL) consumption across malls at Rs19.5bn or 109% of Apr-Jun’19 (Q1FY20) levels while overall Q1FY23 consumption of Rs21.6bn stood at 121% of Q1FY20 levels. While Jun’22 was a slower month with LTL consumption at 97% of Jun’19 levels, with retailers’ End of Season sale delayed to Jul’22, we expect consumption to bounce back going ahead and we mode...
Buy The Phoenix Mills Ltd For Target Rs.1,392 - ICICI Securities
Buy The Phoenix Mills Ltd For Target Rs.1,392 - ICICI Securities
Source: ICICI Securities Ltd
7/07/2022 12:49:27 PM
Buy The Phoenix Mills Ltd For Target Rs.1,231 - ICICI Securities Long term growth story remains intact The Phoenix Mills (PHNX) clocked mall consumption of Rs10.1bn in Q2FY22 vs. Rs4.7bn in Q2FY21 or 63% of Q2FY20 (pre-Covid levels) as malls reopened in a calibrated manner across India during the quarter. The momentum has carried forward into Oct’21 where consumption is at 90% of pre-Covid levels and minimal rental waivers from Nov’21 onwards. As per company, rentals are expected to revert to pre-Covid levels by Q4FY22 assuming no third Covi...
Buy The Phoenix Mills Ltd For Target Rs.1,231 - ICICI Securities
Buy The Phoenix Mills Ltd For Target Rs.1,231 - ICICI Securities
Source: ICICI Securities Ltd
10/12/2021 10:03:03 AM
Buy The Phoenix Mills Ltd For Target Rs.1,231 - ICICI Securities Fortress balance sheet, long term story intact The Phoenix Mills (PHNX) FY21 and Q1FY22 operations have been impacted by mall shutdowns across India owing to successive Covid waves. For FY21, mall consumption of Rs33.3bn was at 69% of FY20 levels while rental income of Rs5.6bn stood at 55% of FY20 levels. To tide over the intermittent Covid related disruptions, PHNX has raised ~Rs26bn of equity capital through QIP route and SPV level stake dilution between Aug’20 to Jun’21 a...
Buy The Phoenix Mills Ltd For Target Rs.1,231 - ICICI Securities
Buy The Phoenix Mills Ltd For Target Rs.1,231 - ICICI Securities
Source: ICICI Securities
18/10/2021 11:22:42 AM
Buy The Phoenix Mills Ltd For Target Rs.1,231 - ICICI Securities Long term growth story remains intact The Phoenix Mills (PHNX) Q1FY22 operations were impacted by mall shutdowns across India owing to second Covid wave. While Mumbai/Pune malls are yet to reopen, consumption across balance operational malls in Jul’21 has been encouraging at Rs2.0bn or 93% of Jul’19 levels. We assume a 30% LTL rental income loss for FY22E owing to expected rental waivers in H1FY22 and retain our FY23E estimates as we believe that the long-term growth story for ...
Buy The Phoenix Mills Ltd For Target Rs.1,231 - ICICI Securities
Buy The Phoenix Mills Ltd For Target Rs.1,231 - ICICI Securities
Source: ICICI Securities
27/09/2021 10:03:09 AM
Buy The Phoenix Mills Ltd For Target Rs. 1,026 - ICICI Securities Building a war chest for growth The Phoenix Mills (PHNX) has informed exchanges that the company along with few of its SPVs has executed definitive documents with GIC Private Equity (PE) for the formation of a retail-led mixed-use platform at a pre-money EV of Rs55bn for specific assets. These assets include PHNX’s Mumbai (Kurla) and Pune malls and Mumbai (Kurla) offices that generated FY20 NOI of Rs3.7bn. GIC PE will initially get a 26.4% equity stake in these SPVs through fund infu...
Buy The Phoenix Mills Ltd For Target Rs. 1,026 - ICICI Securities
Buy The Phoenix Mills Ltd For Target Rs. 1,026 - ICICI Securities
Source: ICICI Securities
6/07/2021 10:35:28 AM
Update On The Phoenix Mills By HDFC Securities Our Take: Phoenix Mills Ltd (PML) is a leading retail mall developer and operator in India. It has pioneered in retail-led, mixed-use properties in India and has developed over 17.5 mn sq ft of retail, hospitality, commercial, and residential asset classes. The company has an operational retail area of approximately 7 mn sq ft, spread over nine operational malls in six gateway cities of India. It is also developing five malls with over 6 mn sq ft of retail space in five gateway cities. ...
Update On The Phoenix Mills By HDFC Securities
Update On The Phoenix Mills By HDFC Securities
Source: HDFC Securities Ltd
1/07/2021 12:26:13 PM