NSE: PHOENIXLTD | BSE: 503100

Expensive Performer

Download real time

1723.70 -6.20 (-0.36%)

208.5K NSE+BSE Volume

NSE 02 Dec, 2025 1:15 PM (IST)

61,639.2

Market Cap

High in industry

Beta 1Year

High Volatility

Phoenix Mills Ltd. share price target and research reports

Latest analyst research reports with target prices and PDF download for PHOENIXLTD, BSE:503100 Phoenix Mills Ltd.

Phoenix Mills Ltd.

10 Apr 2023

1723.70

-0.36%

Strong end to FY23, all eyes on LTL growth for FY24E

Buy: Phoenix Mills Ltd.

ICICI Securities Limited

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 base of FY23, we model for 5% LTL consumption/rental CAGR from FY24E.

Geojit BNP Paribas upgraded Phoenix Mills Ltd. to Buy with a price target of 1996.0 on 24 Nov, 2025.

Phoenix Mills Ltd.

20 Mar 2023

1723.70

-0.36%

Initiating Coverage: Riding the consumption wave

Buy: Phoenix Mills Ltd.

Target

Motilal Oswal

Phoenix Mills Ltd. has an average target of 2023.00 from 3 brokers.

Phoenix Mills Ltd.

09 Feb 2023

1723.70

-0.36%

Growth story on track

Buy: Phoenix Mills Ltd.

Target

ICICI Securities Limited

The Phoenix Mills (PHNX) clocked Q3FY23 LTL consumption of Rs23.6bn which stood at 114% of Q3FY20 levels. As per the company, while there were some concerns of a possible demand slowdown in Dec’22, Jan’23 LTL consumption numbers remain strong at 109% of Jan’20 levels.

Phoenix Mills Ltd. is trading above all available SMAs

Phoenix Mills Ltd.

09 Feb 2023

1723.70

-0.36%

The Phoenix Mills

Buy: Phoenix Mills Ltd.

Target

ICICI Direct

Number of FII/FPI investors decreased from 795 to 768 in Sep 2025 qtr

Phoenix Mills Ltd.

09 Jan 2023

1723.70

-0.36%

Consumption growth remains healthy

Buy: Phoenix Mills Ltd.

ICICI Securities Limited

The Phoenix Mills (PHNX) saw Dec’22 like-to-like (LTL) consumption across malls at Rs8.2bn or 108% of Dec’19 levels. While the Dec’22 LTL growth is lower than the 15% LTL growth seen between Apr-Nov’22, we believe that a high base in Dec’19 (Black Friday sale was in Dec’19 vs. Nov’22 in FY23) has had a marginal impact.

Phoenix Mills Ltd. has an average target of 2023.00 from 3 brokers.

Phoenix Mills Ltd.

19 Dec 2022

1723.70

-0.36%

Another feather in the cap

Buy: Phoenix Mills Ltd.

Recommendation Target

ICICI Securities Limited

The Phoenix Mills (PHNX) has announced the completion of the Surat mall land acquisition for Rs5.1bn in partnership with Ahmedabad based Bsafal Group.

Phoenix Mills Ltd. is trading above all available SMAs

Phoenix Mills Ltd.

08 Dec 2022

1723.70

-0.36%

Growth story remains on track

Accumulate: Phoenix Mills Ltd.

ICICI Securities Limited

The Phoenix Mills’ (PHNX) saw Nov’22 like-to-like (LTL) consumption across malls
at Rs6.3bn or 113% of Nov’19 levels and is lower than Oct’22 LTL consumption growth of 18% as the festivals of Dussehra and Diwali both fell in the month of Oct’22. For YTD FY23 (Apr-Nov’22).

Number of FII/FPI investors decreased from 795 to 768 in Sep 2025 qtr

Phoenix Mills Ltd.

16 Nov 2022

1723.70

-0.36%

PHOENIX MILL

Sell: Phoenix Mills Ltd.

Recommendation Target

Geojit BNP Paribas

Phoenix Mills Ltd. has an average target of 2023.00 from 3 brokers.

Phoenix Mills Ltd.

10 Nov 2022

1723.70

-0.36%

Strong consumption flows through to rentals

Accumulate: Phoenix Mills Ltd.

Recommendation

ICICI Securities Limited

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.

Number of FII/FPI investors decreased from 795 to 768 in Sep 2025 qtr

Phoenix Mills Ltd.

07 Oct 2022

1723.70

-0.36%

Double digit consumption growth sustains in Sep’22

Buy: Phoenix Mills Ltd.

ICICI Securities Limited

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.

Phoenix Mills Ltd. is trading above all available SMAs

Is Phoenix Mills Ltd. worth buying?

104 Votes:

Buy 84.62%

Sell 9.62%

Hold 5.77%

RESEARCH REPORTS

Buy SEE REPORTS >

pdf

Buy SEE REPORTS >

pdf