Mall developer Phoenix Mills Ltd. reported better-than-expected earnings performance on key parameters of revenue and Ebitda (earnings before interest, tax, depreciation and amortization) in the June quarter, which was aided by improving consumption at its malls.Total consumption in Q1FY23 at Rs21.90 crore was 123% of pre-covid quarter of Q1FY20. Consequently, incremental revenue share contributed...

Consumption at Phoenix Mills (PML) malls in Q1FY23 stood at Rs 21.6 bn—this is 121% of the pre-Covid Q1FY20 period (109% on a like-to-like basis). Retail collections during Q1 stood at Rs 5.3 bn (up 10.5% q-o-q). PML is also witnessing strong recovery in occupancy and ARRs in both of its hotels while traction in commercial leasing and residential sales is also on the rise. Consequently, credit r...

We hosted Shishir Shrivastava, Managing Director of Phoenix Mills, for a deep- dive chat into the DNA of the company, its evolution and vision beyond the visible future. Key takeaways: Company believes its core vision is to create iconic city-centric, mixed-use developments with retail as the core and offices and hotels as complementary assets. However, post the pandemic, it is looking to evaluate...

Retail-led mixed-use assets developer and operator The Phoenix Mills NSE -2.96 % has approved the allotment of 62.70 lakh equity shares of the company to the shareholders of Phoenix Hospitality Company Pvt Ltd.The allotment is being made as per the share exchange ratio provided in the scheme of amalgamation as approved by the National Company Law Tribunal (NCLT), Mumbai Bench, the company said i...