Revenue/EBITDA grew by 1%/3%, led by the fifth quarter of healthy tenancies to 3.6k additions and lower OPEX. While net tenancies have improved, along with consistent lower exits over the last few quarters, reducing penalty receipts from VIL in FY23E, upcoming tenancy renewal in Mar'22, and weak liquidity position of VIL could pose an earnings risk. We estimate a consolidated FY21-23E...