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.

11 Feb 2019

1578.00

0.16%

The Phoenix Mills

Buy: Phoenix Mills Ltd.

ICICI Securities Limited

Phoenix Mills' (PML) topline grew 5.7% YoY to | 440.4 crore almost in line with our estimate of | 448.6 crore in Q3FY19. On a sequentially basis, revenues grew 8.8% in Q3FY19...

Phoenix Mills Ltd. has gained 10.35% in the last 1 Week

Phoenix Mills Ltd.

04 Dec 2018

1578.00

0.16%

The Phoenix Mills

Buy: Phoenix Mills Ltd.

ICICI Securities Limited

Phoenix Mills (PML) is a market leader and owner of prime malls in India. It started the real estate business with its iconic High Street Phoenix mall. Sailing on its retail-led mixed-use development model, PML has an operational asset portfolio of eight operational retail assets aggregating 5.9 msf and four operational commercial assets aggregating 1.16 msf. Going ahead, PML plans to almost double its retail portfolio and triple its commercial asset portfolio. Consequently, we expect its rental income to almost double to | 1702 crore in FY18-23E. We also highlight that PML is...

Phoenix Mills Ltd. is trading below its 200 day SMA of 1586.3

Phoenix Mills Ltd.

06 Nov 2018

1578.00

0.16%

Marginally short of expectations; Retail performing well

Buy: Phoenix Mills Ltd.

Target

Motilal Oswal

6 November 2018 PHNXs revenue increased 9.2% YoY to segment (+11% to INR2,839m). EBITDA grew 11% YoY to INR1,981m (our 2QFY19/1HFY19 includes a realized gain of INR358m on the sale of investments of 0.5m equity shares of Graphite India. Interest expense of INR917m (+7% YoY) came in higher than our estimate of INR865m. Consequently, PAT of INR620m (48.5% YoY) missed our estimate of INR664m. Revenues grew by 7% YoY to INR8,179m, EBITDA by 11% YoY to INR3,935m and PAT by 44% YoY to INR1,217m. investment of INR18b, ISML has already invested INR12.8b on acquisitions (including Indore asset, PMC 2 at Wakad in Pune, PMC 2 at Hebbal in Bangalore), which also includes land cost and initial expenses. (2) Lucknow retail asset to begin operations by Diwali next year. We believe that PHNX provides a unique way to play Indias retail growth story.

Phoenix Mills Ltd. has an average target of 1670.50 from 2 brokers.

Phoenix Mills Ltd.

28 Sep 2018

1578.00

0.16%

Phoenix Mills: Organic and inorganic opportunities driving aggressive growth

Buy: Phoenix Mills Ltd.

Target

Motilal Oswal

On a standalone basis ( only High Street Phoenix (HSP)and Palladium, Mumbai), income from operations increased 6% YoY toINR3,972m in FY18 from INR3,759m in FY17. On a consolidated basis, income from operations decreased by 11 % to INR16,198m in FY18 from INR18,246min FY17. The decrease in revenues was on account of the Classic Mall Development Company (PMC Chennai) being classified as an associate against a subsidiary previously. Total retail income from malls stood at INR10,595m,down 11% YoY. Hospitality and other revenue came in at INR3,429m, up 12%YoY. Revenue from residential projects stood at INR1,562m, while commercial revenue was INR611m. Consolidated EBITDA decreased by 8% to INR7,774m inFY18 from INR8,469m in FY17; however, consolidated margins have increased to 48% in FY18 from 46% in FY17

Number of FII/FPI investors decreased from 821 to 795 in Jun 2025 qtr

Phoenix Mills Ltd.

28 Aug 2018

1578.00

0.16%

Phoenix Mills

Buy: Phoenix Mills Ltd.

Kotak Securities

Performance of the company during Q1FY19 was in line with our estimates. Rental growth was driven by the strong operational performance of Market City malls PMC Chennai, PMC Pune & PMC Mumbai as well as High Street Phoenix & Palladium. Commercial and hospitality segment also registered 35%/6% YoY growth respectively led by improvement in rentals and ARRs. High Street Phoenix performance was led by rental improvements as North Sky zone and new F&B; outlets which has an area of 50,000 sq ft comprising of nearly 13 retailers has started contributing towards improvement in rental income....

Phoenix Mills Ltd. is trading above its 150 day SMA of 1568.4

Phoenix Mills Ltd.

09 Aug 2018

1578.00

0.16%

PAT growth impressive; On track to achieve FY23 target

Buy: Phoenix Mills Ltd.

Target

Motilal Oswal

9 August 2018 PHNXs revenue grew 4% YoY to INR4,132m (est. EBITDA grew 11% YoY to INR1,953m (est. INR2,207m), with the margin expanding 280bp YoY to 47.3% (est. Interest expense declined 6% YoY to INR846m (est. PAT, thus, increased 40% YoY to INR597m (est. of INR656m), led by a strong operational performance from the Retail and Commercial segments, along with lower finance costs. Consumption was up only 5% YoY to INR17b off a high base (advancement of sales in the run up to GST rollout, with sales rising 19% YoY in 1QFY18). Retail rental income increased 15% YoY to INR2,419m in 1QFY19, driven by a strong operational performance of PMC Pune, Mumbai, Chennai, and HSP and Palladium, Mumbai. Commercial office income increased 35% YoY to INR149m due to increased contribution from Art Guild House, PMC Kurla.

Phoenix Mills Ltd. has an average target of 1670.50 from 2 brokers.

Phoenix Mills Ltd.

29 Jun 2018

1578.00

0.16%

Phoenix Mills

Mgmt Note: Phoenix Mills Ltd.

ICICI Securities Limited

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)...

Phoenix Mills Ltd. is trading below its 200 day SMA of 1586.3

Phoenix Mills Ltd.

09 May 2018

1578.00

0.16%

Phoenix Mills: Revenue/EBITDA in-line; PAT exceeds estimates

Buy: Phoenix Mills Ltd.

Target

Motilal Oswal

PHNX's revenue declined 4%YoY to INR4,366m (est. of INR4,410m) in 4QFY18 due to reclassification of its subsidiary. Thus, on a like-to-like (L2L) basis, revenue was up 9% YoY toINR4,962m. EBITDA margin expanded 550bp YoY to 49.5% (est. of 48.7%). PAT rose 102% YoY to INR1,037m, higher than our estimate of INR690m due to lower tax and interest. For FY18, revenue fell 11% to INR16.2b (+1% on L2Lbasis), EBITDA margin expanded 150bp to 48% and PAT grew 28% to INR2.6b

Phoenix Mills Ltd. has gained 10.35% in the last 1 Week

Phoenix Mills Ltd.

18 Apr 2018

1578.00

0.16%

Phoenix Mills: Carving a niche by tapping the untapped

Buy: Phoenix Mills Ltd.

Target

Motilal Oswal

PHNX - a pioneer in developing and operating malls - has become a partner of choice for retailers in India due to its impressive track record of consumption-led growth and strong portfolio of eight malls (6msf) spread across the top cities in India. This apart, the company specializes in mall management, an area where its competitors lag. Thus, we believe that it offers a unique opportunity for any retailer (both domestic and global) looking to expand rapidly in India. All this makes PHNX a 'specialist' play on India's promising consumption growth story, in our view. CPPIB has recently infused equity capital of INR16.6b (in tranches) in its subsidiary, Island Star Developers, and with leverage of 1:1, it will create a war chest of INR32b, gearing up the company for the next leg of growth. PHNX plans to acquire and build up to four new malls.

Phoenix Mills Ltd. has an average target of 1670.50 from 2 brokers.

Phoenix Mills Ltd.

21 Feb 2018

1578.00

0.16%

Result Update:Phoenix Mills

Buy: Phoenix Mills Ltd.

Target

Axis Direct

Malls: Rental income at its malls grew 10% YoY on improved consumption growth of 8% YoY (vs. 4% YoY in Q2 which was impacted by refurbishment at High Street Phoenix (HSP). Management expects rental growth to sustain over FY19-20, driven by rental renewals (~1.8 msf/~35% of its leasable area up for r

Phoenix Mills Ltd. has an average target of 1670.50 from 2 brokers.

Is Phoenix Mills Ltd. worth buying?

100 Votes:

Buy 84.0%

Sell 10.0%

Hold 6.0%

RESEARCH REPORTS

Neutral SEE REPORTS >

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Hold SEE REPORTS >

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