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29 May 2025 |
Phoenix Mills
|
Consensus Share Price Target
|
1590.10 |
1748.11 |
- |
9.94 |
buy
|
|
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01 May 2025
|
Phoenix Mills
|
Motilal Oswal
|
1590.10
|
1672.00
|
1664.50
(-4.47%)
|
5.15 |
Neutral
|
|
|
The company reported revenue of INR10.2b, -22%/+4% YoY/QoQ (16% below estimate), while EBITDA came in at INR5.6b, -11%/+1% YoY/QoQ (27% below estimate).
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27 Nov 2024
|
Phoenix Mills
|
Geojit BNP Paribas
|
1590.10
|
1423.00
|
1685.15
(-5.64%)
|
10.51 |
Sell
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|
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28 Oct 2024
|
Phoenix Mills
|
Motilal Oswal
|
1590.10
|
1652.00
|
1463.85
(8.62%)
|
Target met |
Neutral
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|
Phoenix Mills (PHNX) posted 2QFY25 revenue of INR9.2b, up 5% YoY (in line). EBITDA stood at INR5.2b, up 2% YoY (6% below est.) as margin contracted143bp YoY.
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24 May 2024
|
Phoenix Mills
|
Geojit BNP Paribas
|
1590.10
|
2868.00
|
3208.95
(-50.45%)
|
Pre-Bonus/ Split |
Sell
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|
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|
07 May 2024
|
Phoenix Mills
|
Motilal Oswal
|
1590.10
|
3220.00
|
2975.05
(-46.55%)
|
Target met |
Buy
|
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|
During the 10-year period from FY14 to FY24, PHNX’s retail portfolio reported a 12% CAGR in consumption, aided by ~8% like-for-like growth in existing malls and the launch of new malls in Lucknow, Indore, and Ahmedabad. Moreover, the company’s retail rental income also witnessed 12% CAGR over the same period, aligning closely with the growth in consumption.
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13 Sep 2023
|
Phoenix Mills
|
Motilal Oswal
|
1590.10
|
1845.00
|
1804.80
(-11.90%)
|
Target met |
Neutral
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07 Sep 2023
|
Phoenix Mills
|
ICICI Securities Limited
|
1590.10
|
1928.00
|
1799.60
(-11.64%)
|
Target met |
Accumulate
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|
The Phoenix Mills (PHNX) has clocked a CAGR of 14% in consumption and 13% in retail rental across its mall portfolio over the last decade (FY13-23). Further, LTL consumption base for FY23 across the company’s operational malls was 19% higher than FY20 levels. With the company’s Wakad, Pune having opened in Sep’23 and Hebbal, Bengaluru also expected to open shortly and Indore/Ahmedabad malls having opened in FY23, the focus now shifts to growth from new assets.
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07 Sep 2023
|
Phoenix Mills
|
Geojit BNP Paribas
|
1590.10
|
1975.00
|
1811.50
(-12.22%)
|
Target met |
Hold
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10 Aug 2023
|
Phoenix Mills
|
ICICI Securities Limited
|
1590.10
|
1851.00
|
1685.10
(-5.64%)
|
Target met |
Accumulate
|
|
|
The Phoenix Mills (PHNX) clocked Q1FY24 (Apr-Jun’23) like-to-like (LTL) consumption across malls at 109% of Q1FY23 (Apr-Jun’22) levels. Adjusted for store closures in Lifestyle Block of Palladium, Mumbai LTL consumption would have stood at 110% of Q1FY23 levels. As per company, while consumption growth in Jul’23 slowed to 6% owing to monsoon impact in Mumbai, with an expected ramp up in traded occupancies by 3-5% by Q3FY24, LTL growth should trend higher in the festive season and possibly enable the company to achieve double digit LTL consumption growth.
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|
09 Aug 2023
|
Phoenix Mills
|
Motilal Oswal
|
1590.10
|
1845.00
|
1685.10
(-5.64%)
|
Target met |
Neutral
|
|
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07 Jul 2023
|
Phoenix Mills
|
ICICI Securities Limited
|
1590.10
|
1851.00
|
1569.05
(1.34%)
|
Target met |
Buy
|
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|
The Phoenix Mills (PHNX) clocked Q1FY24 (Apr-Jun’23) like-to-like (LTL) consumption across malls at 109% of Q1FY23 (Apr-Jun’22) levels. Adjusted for store closures in Lifestyle Block of Palladium, Mumbai LTL consumption would have stood at 110% of Q1FY23 levels.
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30 May 2023
|
Phoenix Mills
|
Geojit BNP Paribas
|
1590.10
|
1677.00
|
1498.70
(6.10%)
|
Target met |
Accumulate
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|
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28 May 2023
|
Phoenix Mills
|
ICICI Direct
|
1590.10
|
1705.00
|
1479.20
(7.50%)
|
Target met |
Buy
|
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25 May 2023
|
Phoenix Mills
|
ICICI Securities Limited
|
1590.10
|
1712.00
|
1401.60
(13.45%)
|
Target met |
Buy
|
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|
The Phoenix Mills (PHNX) clocked FY23 like-to-like (LTL) consumption across malls at 119% of FY20 levels while retail income growth was at 122% of FY20 levels.
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10 Apr 2023
|
Phoenix Mills
|
ICICI Securities Limited
|
1590.10
|
1645.00
|
1281.65
(24.07%)
|
Target met |
Buy
|
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|
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.
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20 Mar 2023
|
Phoenix Mills
|
Motilal Oswal
|
1590.10
|
1700.00
|
1294.70
(22.82%)
|
Target met |
Buy
|
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09 Feb 2023
|
Phoenix Mills
|
ICICI Direct
|
1590.10
|
1650.00
|
1365.15
(16.48%)
|
Target met |
Buy
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09 Feb 2023
|
Phoenix Mills
|
ICICI Securities Limited
|
1590.10
|
1645.00
|
1365.15
(16.48%)
|
Target met |
Buy
|
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|
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.
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09 Jan 2023
|
Phoenix Mills
|
ICICI Securities Limited
|
1590.10
|
1648.00
|
1416.70
(12.24%)
|
Target met |
Buy
|
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|
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.
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19 Dec 2022
|
Phoenix Mills
|
ICICI Securities Limited
|
1590.10
|
1648.00
|
1402.95
(13.34%)
|
Target met |
Buy
|
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|
The Phoenix Mills (PHNX) has announced the completion of the Surat mall land acquisition for Rs5.1bn in partnership with Ahmedabad based Bsafal Group.
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