We met the management of Phoenix Mills (PML) to understand the company, its business model and future growth prospects. PML is a market leader and owner of prime malls in India. Sailing on its retail-led mixed-use development business model, PML has a portfolio diversified into retail (mall), commercial, hospitality & residential segments. Key takeaways are: -i) To double mall portfolio to ~11-12 msf over the next few years ii) to expand its commercial portfolio from 1.6 msf to 3.1 msf (1.12 msf under construction and remainder under planning stage) and iii)...