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Pressing the growth pedal The Phoenix Mills (PHNX) has clocked a CAGR of 14% in consumption and 13% in retail rental across its mall portfolio over the last decade (FY13-23). Further, LTL consumption base for FY23 across the company’s operational malls was 19% higher than FY20 levels. With the company’s Wakad, Pune having opened in Sep’23 and Hebbal, Bengaluru also expected to open shortly and Indore/Ahmedabad malls having opened in FY23, the focus now shifts to growth fr...
Add Phoenix Mills Ltd For Target Rs.1,928 - ICICI Securities
The Phoenix Mills is currently trading at Rs. 1725.80, up by 12.70 points or 0.74% from its previous closing of Rs. 1713.10 on the BSE. The scrip opened at Rs. 1682.05 and has touched a high and low of Rs. 1734.00 and Rs. 1682.05 respectively. So far 1060 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1797.00 on 08-Aug-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 gains on incorporating wholly owned subsidiary
The Phoenix Mills is currently trading at Rs. 1704.75, up by 3.50 points or 0.21% from its previous closing of Rs. 1701.25 on the BSE. The scrip opened at Rs. 1667.25 and has touched a high and low of Rs. 1730.00 and Rs. 1667.25 respectively. So far 4740 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1734.00 on 17-Jul-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 trades higher on getting nod to incorporate wholly owned subsidiary
India is not considering allowing sugar exports until at least the first half of the next season, as the government is worried the El Nino weather pattern could reduce rainfall and dent production, government sources said on Monday. India, the world's second biggest sugar exporter, usually decides the amount of the sweetener mills can export before the start of the new marketing year on Oct. 1. The delay in shipments from India could support global sugar prices trading near multi...
India to cap sugar exports until H1 2024 as El Nino looms - Government sources
Higher-than-expected margin leads to EBITDA beat * Phoenix Mills (PHNX) reported revenue of INR7.3b, up 47% YoY/7% QoQ (6% above our estimate) in 4QFY23. Revenue growth was driven by 45% YoY increase in retail segment to INR4.9b and 2.5x jump in Hospitality revenue to INR1.4b during the quarter. * FY23 revenue surged 78% YoY to INR26.4b with retail segment contributing INR18b to the total revenue (up 86% YoY). Hospitality segment’s revenue nearly tripled to INR4.8b during the year...
Buy The Phoenix Mills Ltd For Target Rs.1,750 - Motilal Oswal
Strong end to FY23, all eyes on LTL growth for FY24E 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 not comparable). 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 mall closures, with a high ...
Buy Phoenix Mills Ltd For Target Rs.1,282 - ICICI Securities
Bangalore, Karnataka, India: International Brand Equity (IBE) announces India’s Best Real Estate Brands List 2022–2023, an annual study conducted by International Brand Equity's consumer choice brand research team across major cities in India to analyze the most successful real estate brands The complete list of 2023 India's 100 Best Real Estate Brands will be announced on March 24, 2023, during the inaugural ceremony of the IBE's "8th India Property Awar...
International Brand Equity Announces India's Best Real Estate Brands List 2022 - 2023
The Phoenix Mills is currently trading at Rs. 1328.50, up by 13.95 points or 1.06% from its previous closing of Rs. 1314.55 on the BSE. The scrip opened at Rs. 1316.05 and has touched a high and low of Rs. 1333.75 and Rs. 1316.05 respectively. So far 1333 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1620.00 on 09-Nov-2022 and a 52 week low of Rs. 884.30 on 08-Mar-2022. Last one week high and low of the scrip ...
Phoenix Mills gains as its arm acquires prime land parcel in Kolkata
The 2023-2024 Union Budget was announced and what impact will it make on your life and style in the coming year? While some industries had favourable results that will spur the growth of the sector, others were rather underwhelmed. Experts in the field expresses their thoughts to IANSlife... Eating out? The F&b industry benefits from the personal tax relief measures outlined in the budget. Commenting on the same, Merrill Pereyra, Managing Director, Pizza Hut India Subcontinent sa...
Will the Union Budget impact your life and style
Phoenix Mills is currently trading at Rs. 1421.80, up by 23.60 points or 1.69% from its previous closing of Rs. 1398.20 on the BSE. The scrip opened at Rs. 1424.00 and has touched a high and low of Rs. 1443.55 and Rs. 1415.10 respectively. So far 3156 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1620.00 on 09-Nov-2022 and a 52 week low of Rs. 884.30 on 08-Mar-2022. Last one week high and low of the scrip stoo...
Phoenix Mills trades higher on acquiring 7.22 acre-land parcel in Surat for about Rs 510 crore
Strong consumption flows through to rentals The Phoenix Mills’ (PHNX) saw Oct’22 like-to-like (LTL) consumption across malls at Rs8.7bn or 118% of Oct’19 levels and mirrors the Q2FY23 LTL consumption growth which was at 118% of Q2FY20 levels. In Q1FY23 (Apr-Jun’22), LTL consumption growth across malls stood at 111% of Apr-Jun’19 (Q1FY20) levels which translated into Q1FY23 retail LTL EBITDA of Rs2.9bn or 115% of Q1FY20 levels. Similarly, in Q2FY23, LTL consump...
Buy Phoenix Mills Ltd For Target Rs.1,638 - ICICI Securities
Retail consumption drives robust performance… About the stock: Phoenix Mills (PML) is a leading retail mall developer and operator in India. It is into retail-led, mixed-use properties and has developed 17.5+ mn sq ft of retail, commercial, hospitality and residential asset class. * PML has an operational retail area of ~7 mn sq ft spread over nine operational malls, and is developing ~6 mn sq ft of retail space. It has ~2 mn sq ft operational in commercial segment and plans to a...
Buy Phoenix Mills Ltd For Target Rs.1,775 - ICICI Direct
RattanIndia Enterprises is currently trading at Rs. 49.85, up by 0.25 points or 0.50% from its previous closing of Rs. 49.60 on the BSE. The scrip opened at Rs. 49.70 and has touched a high and low of Rs. 50.30 and Rs. 49.60 respectively. So far 79656 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 65.85 on 12-Jan-2022 and a 52 week low of Rs. 30.50 on 12-May-2022. Last one week high and low of the scrip stood a...
RattanIndia Enterprises gains as its arm receives insurance direct broker licence from IRDAI
Come this Diwali, nearly 2,000 flats will be ready for possession for the embattled Amrapali homebuyers, and by the end of this year, 11,000 flats will be ready for possession. According to a source in the NBCC, 1,000 flats are ready for possession in Amrapali Leisure Park; 500-600 flats are ready for possession in Amrapali Golf Homes; and 200-300 flats are ready for possession in Centurian Park Terrace Homes. "The flats are ready. We are waiting for the electricity connection for ...
11K flats will be ready for possession for Amrapali homebuyers by December, 2K flats by Diwali
Double digit consumption growth sustains in Sep’22 The Phoenix Mills’ (PHNX) saw Sep’22 like-to-like (LTL) consumption across malls at Rs5.8bn or 115% of Sep’19 levels and mirrors the Jul’22 LTL consumption growth which was at 120% of Jul’19 levels and Aug’22 LTL consumption growth which was at 114% of Aug’19 levels. In Q1FY23 (Apr-Jun’22), LTL consumption growth across malls stood at 111% of Apr-Jun’19 (Q1FY20) levels which trans...
Buy The Phoenix Mills Ltd For Target Rs.1,638 - 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
Strong consumption recovery across malls … About the stock: Phoenix Mills (PML) is a leading retail mall developer and operator in India. It is into retail-led, mixed-use properties and has developed 17.5+ mn sq ft of retail, commercial, hospitality and residential asset class * PML has an operational retail area of ~7 mn sq ft spread over nine operational malls and is developing ~6 mn sq ft of retail space. It has ~2 mn sq ft operational in commercial segment and plans to add ~5...
Buy The Phoenix Mills Ltd For Target Rs.1630 - ICICI Securities
The company reported standalone net profit of Rs 57.50 crore for the quarter ended March 31, 2022 as compared to Rs 7.99 crore in the same period last year, registering a year-on-year growth of 619.65 per cent. Net revenue of the company rose substantially by 23.26 per cent at Rs 102.95 crore in January-March quarter of this fiscal as against Rs 83.52 crore in the corresponding period last year. During January-March quarter, operating expenses dropped by 28.68 per cent to Rs 38.18 crore fr...
Phoenix Mills Q4 net profit zooms 619.65% at Rs 57.50 cr
Consumption recovery firmly on track The Phoenix Mills (PHNX) has seen Feb’22 mall consumption recovering to 94% of pre-Covid levels on like-to-like (LTL) basis after Jan’22 LTL consumption stood at 70% of Jan’20 levels in spite of Omicron-led disruption during that period (Q3FY22 consumption stood at 89% of Q3FY20 levels). With ~95% of retailers having moved back to pre-Covid minimum guarantee rentals from Jan’22, we expect PHNX to clock Rs8.0bn of FY22E retail ren...
Buy Phoenix Mills Ltd For Target Rs.1,336 - ICICI Securities
Strong recovery! About the stock: Phoenix Mills (PML) is a leading retail mall developer and operator in India. It is into retail-led, mixed-use properties and has developed 17.5+ mn sq ft of retail, commercial, hospitality and residential asset class. * PML has an operational retail area of ~7 million square feet (mn sq ft) spread over nine operational malls, and developing another five malls with ~6 mn sq ft of retail space. It has a GLA of 2 mn sq ft in the commercial segment. I...
Buy Phoenix Mills Ltd For Target Rs.1230 - ICICI Direct
Strong consumption recovery… About the stock: Phoenix Mills (PML) is a leading retail mall developers and operators in India. It is into retail-led, mixed-use properties and has developed 17.5+ mn sq ft of retail, commercial, hospitality, and residential asset class. * PML has an operational retail area of ~7 mn sq ft spread over nine operational malls and developing another five malls with ~6 mn sq ft of retail space. It has a GLA of 1.6 mn sq ft in commercial segment. It plans ...
Buy Phoenix Mills Ltd For Target Rs.1200 - ICICI Direct
CPPIB invests in Project Rise Canadian pension fund CPPIB has entered into an agreement with Phoenix Mills (PML), under which the former will invest up to ~INR13.5bn in Project Rise, an upcoming 1.2msf mixed-use project at Lower Parel. CPPIB will eventually hold a 49% stake in the project. PML’s net investment in the project will be effectively nil. The deal reiterates PML’s ability to sell equity in forthcoming projects at a significant premium, which reduces its capital co...
Buy Phoenix Mills Ltd For Target Rs.1,459 - Edelweiss Financial Services
Maharashtra malls reopening to be key… About the stock: Phoenix Mills Ltd (PML) is a leading retail mall developer and operator in India. It is into retail-led, mixed-use properties and has developed 17.5+ mn sq ft of retail, commercial, hospitality, and residential asset class. * PML has an operational retail area of ~7 mn sq ft spread over nine operational malls and is developing another five malls with 6+ mn sq ft of retail space. It has a GLA of 1.6 mn sq ft in the commercial...
Buy Phoenix Mills Ltd For Target Rs.1020 - ICICI Direct
Healthy performance... The key highlight for Phoenix Mills (PML) was consumption recovery at retail malls. During Q4FY21, total consumption was at | 1,435 crore (up 5% QoQ; at ~100% (~94% on like to like basis) of Q4FY20). Reported revenues degrew ~3.4% YoY to | 385.9 crore, with core portfolio (commercial + retail + hospitality) revenues down ~14.7% YoY to | 329.5 crore, dragged by weak hospitality performance (down ~66% YoY). Reported EBITDA margin were down 620 bps YoY to 44.9%, given t...
Buy Phoenix Mills Ltd For Target Rs. 950 - ICICI Direct
MTF Stock Pick Buy The Phoenix Mills Ltd For Target Rs. 925 - HDFC Securities TECHNICAL OBSERVATIONS After showing consolidation movement in the last few weeks, the stock price has shifted into a sharp upmove in this week. The stock price is currently making an attempt to stage upside breakout of the down trend line resistance at Rs 865-870 levels. This is positive indication and a sustainable move above this area could have a sharp positive impact. ...
MTF Stock Pick Buy The Phoenix Mills Ltd For Target Rs. 925 - HDFC Securities
The Phoenix Mills Limited and Canada Pension Plan Investment Board on Saturday announced the execution of definitive documents for a new joint venture to develop a regional retail centre in Alipore, Kolkata. CPP Investments will commit to investing approximately Rs 560 crore (C$93 million) in Mindstone Mall Developers Private Ltd in tranches, for an ultimate equity stake of 49 per cent. With the funds invested by CPP Investments and PML, Mindstone will develop a retail centre with a potent...
Phoenix Mills, CPP Investments collaborate for retail centre in Kolkata
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