Phoenix Mills Ltd. · NSE:PHOENIXLTD
Phoenix Mills — The Phoenix Mills — Q3 FY23 Earnings Presentation
82 slides from Phoenix Mills's earnings presentation, Feb 7, 2023
Slide 1: Exchange filing cover letter on investor presentation
Corp. Office: Shree Laxmi Woolen Mills Estate, 2nd Floor, R.R. Hosiery, Off Dr. E. Moses Rd. Mahalaxmi, Mumbai - 400 011 Tel: (022) 3001 6600 Fax : (022) 3001 6601 CIN No. : L17100MH1905PLC000200 February 07, 2023 BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers Exchang
Slide 2: The Phoenix Mills Ltd. Investor Presentation Q3 and 9M FY23
The Phoenix Mills Ltd. Investor Presentation Phoenix Citadel, Indore GLA: ~1 msf Q3 and 9M FY23 Launched on 1st December 2022
Slide 3: Business Update, Business Performance, Financial Results, Annexure
Business Update Business Performance Financial Results Annexure Phoenix Marketcity, Bangalore 2
Slide 4: Q3 FY23 Consumption at 128% of Q3 FY20
Q3 FY23 Consumption at 128% of Q3 FY20 (pre-Covid quarter) Q3 FY23 Consumption (Rs. mn) As % of 121% 129% 117% 98% 111% NA NA 67% 96% Q3 FY20 6,287 5,204 4,370 3,660 2,869 2,727 597 562 197 Phoenix PMC Bangalore PMC Pune PMC Mumbai PMC & Phoenix Phoenix Citadel PU Lucknow PU Bareilly Palladium Palla
Slide 5: 9M FY23 Consumption at 127% of 9M FY20
9M FY23 Consumption at 127% of 9M FY20 (pre-Covid period) 9M FY23 Consumption (Rs. mn) As % of 121% 131% 117% 100% 110% NA NA 67% 90% 9M FY20 16,281 13,920 11,929 10,254 7,856 6,869 1,639 1,419 197 Phoenix PMC Bangalore PMC Pune PMC Mumbai PMC & Phoenix Phoenix Citadel PU Lucknow PU Bareilly Palladi
Slide 6: Retail consumption in January 2023 at 127% of January 2020
Retail consumption in January 2023 at 127% of January 2020 January 2023 Consumption (Rs. mn) As % of January 105% 129% 116% 102% 107% NA NA 69% 107% 2020 1,830 1,470 1,280 1,110 900 900 230 210 230 Phoenix PMC Bangalore PMC Pune PMC Mumbai PMC & Phoenix Phoenix Citadel PU Lucknow PU Bareilly Palladi
Slide 7: Retail consumption in YTD January 2023 at 127% of YTD January 2020
Retail consumption in YTD January 2023 at 127% of YTD January 2020 April 2022 to January 2023 Consumption (Rs. mn) As % of YTD Apr- 119% 131% 117% 100% 110% NA NA 68% 92% Jan 2020 18,111 15,390 13,209 11,364 8,756 7,769 1,849 1,649 427 Phoenix PMC Bangalore PMC Pune PMC Mumbai PMC & Phoenix Phoenix
Slide 8: Resumption of marquee events: Prateek Kuhad concert, Indore
Resumption of marquee events with easing of COVID-19 restrictions Photo shot at location Prateek Kuhad Live-in concert at Phoenix Citadel, Indore 7
Slide 9: Resumption of marquee events: Sonu Nigam concert, Bangalore
Resumption of marquee events with easing of COVID-19 restrictions Photo shot at location Sonu Nigam Live-in concert at Phoenix Marketcity, Bangalore 8
Slide 10: Introducing Phoenix Citadel, Indore
Introducing Phoenix Citadel, Indore… Indicative Render 9
Slide 11: Introducing Phoenix Citadel, Indore
Introducing Phoenix Citadel, Indore… Indicative Render 10
Slide 12: Phoenix Citadel – Interior shots
Phoenix Citadel – Interior shots Actual Photo Actual Photo Actual Photo Actual Photo 11
Slide 13: Phoenix Citadel, Indore - Performance update
Phoenix Citadel, Indore - Performance update Performance Update – for the second month of operations January 2023: ▪ Leased Occupancy: 94% ▪ Trading Occupancy: 50% (up from 42% in Dec-22) ▪ Trading Density: • Currently in the range of Rs. 700 - 800 psf pm • Projected to reach ~ Rs. 1,000 psf pm in F
Slide 14: Palladium, Ahmedabad – Opening in February 2023
Palladium, Ahmedabad – Opening in February 2023 The Luxury mall of Gujarat Indicative Render 13
Slide 15: Palladium, Ahmedabad
Palladium, Ahmedabad Actual Photo ▪ Retail GLA of ~0.77 msf ▪ Amount Spent: Rs. 8,326 mn (till Dec-22) ▪ Retail: ~99% leased (till Jan-23) ▪Actual Photo Launch: February 2023 Actual Photo 14 14
Slide 16: Phoenix Mall of Asia, Bangalore
Phoenix Mall of Asia, Bangalore The Largest Retail led Mixed-use development in Bangalore Indicative Render 15
Slide 17: Phoenix Mall of Asia, Bangalore
Phoenix Mall of Asia, Bangalore ▪ Retail GLA: ~1.20 msf ▪ Office GLA: ~1.20 msf ▪ Amount Spent till Dec-22 ▪ Retail: Rs. 12,772 mn ▪ Office: Rs. 930 mn ▪ Expected year of operation: ▪ Retail: Q1 FY24 ▪ Office Phase 1: H1 FY24 ▪ Retail: ~87% leased (till Jan-23) Actual Photo 16
Slide 18: Phoenix Mall of the Millennium, Pune
Phoenix Mall of the Millennium, Pune Pune’s Gateway to Luxury Indicative Render 17
Slide 19: Phoenix Mall of the Millennium, Pune
Phoenix Mall of the Millennium, Pune ▪ Retail GLA: ~1.10 msf ▪ Office GLA: ~1.20 msf ▪ Amount Spent till Dec-22 ▪ Retail: Rs. 7,880 mn ▪ Office: Rs. 859 mn ▪ Expected year of operation: ▪ Retail: Q1 FY24 ▪ Office: FY25 ▪ Retail: ~88% leased (till Jan-23) Actual Photo 18
Slide 20: Alipore, Kolkata: East India's retail destination
Alipore, Kolkata: East India’s retail destination – commenced construction Indicative Render Concept Architect – Callison 19
Slide 21: Project Rise – the Jewel in the Phoenix crown
Project Rise – the Jewel in the Phoenix crown – commenced construction Office GLA: ~1.1 msft Retail GLA: ~0.20 msf Indicative Render Indicative Render Concept Architect – Callison 20
Slide 22: Update on other Under Development Projects
Update on other Under Development Projects ✓Piling and diaphragm work is in progress Kolkata Mall ✓Demolition work for on-site structures has completed ✓Rock anchoring and excavation work in progress Rise, Mumbai ✓Shore piling work completed ✓Construction work commenced in June 2022 ✓Design work com
Slide 23: Surat - our second retail destination in Gujarat
Surat - our second retail destination in Gujarat ▪ Acquired land parcel of ~ 7 acres in December 2022 in partnership with GIC and Bsafal group ▪ Land consideration of ~Rs. 501 cr (incl stamp duty) ▪ Planned Retail GLA of ~1msf ▪ Located at the Citylight Junction, Udhana Magdalla Road ▪ Serves promin
Slide 24: Business Performance - Retail
Business Update Business Performance - Retail Financial Results Annexure Phoenix Marketcity, Pune 23
Slide 25: Q3 FY23 Retail Rental Income at 121% of Q3 FY20
Q3 FY23 Retail Rental Income at 121% of Q3 FY20 (pre-Covid period) Q3 FY23 Q3 FY20 % of Q3 FY20 Name of Asset Retail Rental Income Retail Rental Income (pre-COVID period) (Rs. mn) (Rs. mn) Phoenix Palladium, Mumbai 991 946 105% Phoenix Marketcity, Bangalore 507 400 127% Phoenix Marketcity, Pune 509
Slide 26: Q3 FY23 Retail EBITDA at 129% of Q3 FY20
Q3 FY23 Retail EBITDA at 129% of Q3 FY20 (pre-Covid period) Q3 FY23 Q3 FY20 % of Q3 FY20 Name of Asset Retail EBITDA Retail EBITDA (pre-COVID period) (Rs. mn) (Rs. mn) Phoenix Palladium, Mumbai 1,041 807 129% Phoenix Marketcity, Bangalore 479 402 119% Phoenix Marketcity, Pune 522 445 117% Phoenix Ma
Slide 27: Q3 FY23 Retail Rental Income at 129% of Q3 FY22
Q3 FY23 Retail Rental Income at 129% of Q3 FY22 Q3 FY23 Q3 FY22 Name of Asset Retail Rental Income Retail Rental Income % of Q3 FY22 (Rs. mn) (Rs. mn) Phoenix Palladium, Mumbai 991 725 137% Phoenix Marketcity, Bangalore 507 386 131% Phoenix Marketcity, Pune 509 432 118% Phoenix Marketcity, Mumbai 37
Slide 28: Q3 FY23 Retail EBITDA at 135% of Q3 FY22
Q3 FY23 Retail EBITDA at 135% of Q3 FY22 Q3 FY23 Q3 FY22 Name of Asset Retail EBITDA Retail EBITDA % of Q3 FY22 (Rs. mn) (Rs. mn) Phoenix Palladium, Mumbai 1,041 728 143% Phoenix Marketcity, Bangalore 479 343 140% Phoenix Marketcity, Pune 522 371 141% Phoenix Marketcity, Mumbai 347 225 154% Phoenix
Slide 29: 9M FY23 Retail Rental Income at 122% of 9M FY20
9M FY23 Retail Rental Income at 122% of 9M FY20 (pre-Covid period) 9M FY23 9M FY20 % of 9M FY20 Name of Asset Retail Rental Income Retail Rental Income (pre-COVID period) (Rs. mn) (Rs. mn) Phoenix Palladium, Mumbai 2,849 2,706 105% Phoenix Marketcity, Bangalore 1,439 1,119 129% Phoenix Marketcity, P
Slide 30: 9M FY23 Retail EBITDA at 128% of 9M FY20
9M FY23 Retail EBITDA at 128% of 9M FY20 (pre-Covid period) 9M FY23 9M FY20 % of 9M FY20 Name of Asset Retail EBITDA Retail EBITDA (pre-COVID period) (Rs. mn) (Rs. mn) Phoenix Palladium, Mumbai 2,930 2,354 124% Phoenix Marketcity, Bangalore 1,416 1,160 122% Phoenix Marketcity, Pune 1,473 1,321 111%
Slide 31: 9M FY23 Retail Rental Income at 178% of 9M FY22
9M FY23 Retail Rental Income at 178% of 9M FY22 9M FY23 9M FY22 Name of Asset Retail Rental Income Retail Rental Income % of 9M FY22 (Rs. mn) (Rs. mn) Phoenix Palladium, Mumbai 2,849 1,484 192% Phoenix Marketcity, Bangalore 1,439 849 169% Phoenix Marketcity, Pune 1,494 761 196% Phoenix Marketcity, M
Slide 32: 9M FY23 Retail EBITDA at 184% of 9M FY22
9M FY23 Retail EBITDA at 184% of 9M FY22 9M FY23 9M FY22 Name of Asset Retail EBITDA Retail EBITDA % of 9M FY22 (Rs. mn) (Rs. mn) Phoenix Palladium, Mumbai 2,930 1,431 205% Phoenix Marketcity, Bangalore 1,416 848 167% Phoenix Marketcity, Pune 1,473 676 218% Phoenix Marketcity, Mumbai 1,047 466 225%
Slide 33: Ramp-up in leased and trading occupancy and trading density
Ramp-up in leased and trading occupancy and trading density across major malls Leased Occupancy Trading Occupancy Trading Density (Rs. psf pm) Jun-22 Jan-23 Jun-22 Jan-23 Q1FY23 Q3FY23 Phoenix Palladium, Mumbai 97% 99% 86% 90% 3,330 3,807 Phoenix Marketcity, Bangalore 95% 98% 91% 94% 2,351 2,762 Pho
Slide 34: Business Performance - Commercial
Business Update Business Performance - Commercial Financial Results Annexure Fountainhead Towers, Pune 33 33
Slide 35: Office Portfolio seeing improving leasing traction
Office Portfolio seeing improving leasing traction Project Net Leasable Average Rate Location Total Area (msf) Area Sold (msf) Area Leased (msf) Name Area (msf) psf.* Operational Office Portfolio Art Guild House Mumbai 0.80 0.17 0.63 0.49 89 Phoenix Paragon Plaza Mumbai 0.43 0.12 0.31 0.17 108 Fount
Slide 36: Q3 FY23 Office Income up 16% yoy
Q3 FY23 Office Income up 16% yoy EBITDA as % of Total Total Income (Rs mn) EBITDA (Rs Mn) Income Operational Portfolio Q3 FY23 Q3 FY22 Growth (%) Q3 FY23 Q3 FY22 Growth (%) Q3 FY23 Q3 FY22 Art Guild House 194 181 8% 118 111 6% 61% 62% Phoenix Paragon Plaza 87 65 35% 46 33 36% 52% 52% Fountainhead –
Slide 37: 9M FY23 Office Income up 10% yoy
9M FY23 Office Income up 10% yoy EBITDA as % of Total Total Income (Rs mn) EBITDA (Rs Mn) Income Operational Portfolio 9M FY23 9M FY22 Growth (%) 9M FY23 9M FY22 Growth (%) 9M FY23 9M FY22 Art Guild House 576 598 -4% 367 421 -13% 64% 70% Phoenix Paragon Plaza 240 199 20% 122 127 -4% 51% 64% Fountain
Slide 38: Business Performance - Hospitality
Business Update Business Performance - Hospitality Financial Results Annexure By the Mekong, The St. Regis, Mumbai 37
Slide 39: The St. Regis, Mumbai
The St. Regis, Mumbai (Rs mn) Q3 FY23 Q3 FY20 % growth 9M FY23 9M FY20 % growth Revenue from 476 422 13% 1,194 1,044 14% Rooms Revenue from F&B 510 468 9% 1,292 1,093 18% and Banqueting Other Operating 103 74 39% 266 198 34% Income Total Income 1,089 962 13% 2,752 2,335 18% Operating EBITDA 489 403
Slide 40: The St. Regis, Mumbai – Significant improvement in Room Occupancy
The St. Regis, Mumbai – Significant improvement in Room Occupancy 91% 87% 86% 85% 84% 82% 83% 81% 79% 76% 77% 77% 79% Occupancy impacted due 74% to Delta Wave 51% 46% 46% 42% 34% Occupancy impacted due to Omicron Wave 14% April May June July August September October November December January Room Oc
Slide 41: The St. Regis, Mumbai – Significant improvement in RevPAR
The St. Regis, Mumbai – Significant improvement in RevPAR 14,885 14,786 14,001 10,973 11,242 11,241 10,744 9,718 8,829 8,957 7,601 6,457 5,263 4,336 3,305 3,416 3,034 2,376 1,783 1,100 April May June July August September October November December January RevPAR FY22 (Rs.) RevPAR FY23 (Rs.) 40
Slide 42: Courtyard by Marriott, Agra
Courtyard by Marriott, Agra (Rs. mn) Q3 FY23 Q3 FY20 % growth 9M FY23 9M FY20 % growth Revenue from 77 66 17% 160 138 16% Rooms Revenue from F&B and 58 53 10% 130 115 14% Banqueting Other Operating 5 6 -16% 18 14 29% Income Total Income 140 124 13% 308 266 16% Occupancy (%) 79% 77% NA 70% 67% NA ARR
Slide 43: Courtyard by Marriott, Agra – Room Occupancy
Courtyard by Marriott, Agra – Significant Improvement in Room Occupancy 82% 80% 76% 72% 73% 66% 64% 66% 63% 75% 58% 62% 64% 60% 60% Occupancy impacted due to Delta Wave 47% 35% 26% Occupancy 23% impacted due to Omicron wave 1% April May June July August September October November December January Ro
Slide 44: Courtyard by Marriott, Agra – RevPAR
Courtyard by Marriott, Agra – Significant improvement in RevPAR 5,250 4,305 4,125 3,790 3,675 2,926 2,547 2,632 2,531 2,367 2,284 2,076 1,942 1,511 1,579 1,453 1,437 713 726 60 April May June July August September October November December January RevPAR FY22 (Rs.) RevPAR FY23 (Rs.) 43
Slide 45: Business Performance - Residential
Business Update Business Performance - Residential Financial Results Annexure One Banglore West, Indicative Render 44
Slide 46: Residential Portfolio – Steady traction in demand for ready units
Residential Portfolio – Steady traction in demand for ready units ➢ Sales trajectory has seen good improvement backed by strong demand and faster conversions. ➢ Sales of Rs. 1,041 mn in Q3 FY23 ➢ Strong sales momentum continues, with gross residential sales of ~Rs. 2,750 mn in YTD December 2022 ➢ Co
Slide 47: Financial Results
Business Update Business Performance Financial Results Annexure Phoenix Palladium, Mumbai 46
Slide 48: Standalone P&L – Q3 & 9M FY23 vs. Q3 & 9M FY22
Standalone P&L – Q3 & 9M FY23 vs. Q3 & 9M FY22 (Rs. mn) Q3 FY23 Q3 FY22 YoY% 9M FY23 9M FY22 YoY% Income from operations 1,239 815 52% 3,540 1,806 96% EBITDA 865 575 50% 2,402 995 142% EBITDA Margin (%) 70% 71% NA 68% 55% NA Profit before tax & exceptional items 687 490 40% 2,218 960 131% Exceptiona
Slide 49: Standalone P&L – Q3 & 9M FY23 vs. Q3 & 9M FY20
Standalone P&L – Q3 & 9M FY23 vs. Q3 & 9M FY20 Growth over Growth over (Rs. mn) Q3 FY23 Q3 FY20 9M FY23 9M FY20 Q3FY20 (%) 9M FY20 (%) Income from operations 1,239 1,199 3% 3,540 3,462 2% EBITDA 865 663 30% 2,402 2,028 18% EBITDA Margin (%) 70% 55% NA 68% 59% NA Profit before tax & exceptional items
Slide 50: Consolidated P&L – Q3 & 9M FY23 vs. Q3 & 9M FY22
Consolidated P&L – Q3 & 9M FY23 vs. Q3 & 9M FY22 (Rs. mn) Q3 FY23 Q3 FY22 YoY% 9M FY23 9M FY22 YoY% Income from operations 6,838 4,125 66% 19,093 9,881 93% Retail 4,424 2,782 59% 13,073 6,270 109% Residential 527 321 64% 1,402 1,309 7% Commercial 423 366 16% 1,261 1,149 10% Hospitality & Others 1,46
Slide 51: Consolidated P&L – Q3 & 9M FY23 vs. Q3 & 9M FY20
Consolidated P&L – Q3 & 9M FY23 vs. Q3 & 9M FY20 Growth over Growth over (Rs. mn) Q3 FY23 Q3 FY20 9M FY23 9M FY20 Q3FY20 (%) 9M FY20 (%) Income from operations 6,838 5,118 34% 19,093 15,419 24% Retail 4,424 3,218 37% 13,073 9,288 41% Residential 527 481 10% 1,402 2,664 -47% Commercial 423 334 27% 1,
Slide 52: PML Consolidated Cashflow
PML Consolidated Cashflow Quarter Nine months (Rs. Mn) 30-Sep-22 31-Dec-22 31-Dec-22 CASH FLOW FROM OPERATING ACTIVITIES Operating Cash flow before working capital changes 3,742 3,910 10,969 Add: Changes in Working Capital 607 756 1,919 Less: Direct Taxes Paid (429) (480) (1,364) Net cash generated
Slide 53: PML Consolidated Cashflow
PML Consolidated Cashflow Quarter Nine months (Rs. Mn) 30-Sep-22 31-Dec-22 31-Dec-22 CASH FLOW FROM FINANCING ACTIVITIES Mutual Fund Investments (Net) (817) 787 10,035 FD Redemption / (Investment) 18 1,845 (363) Investment in Classic Mall - - (9,280) Investment by JV Partners (0) 2,040 6,030 Loans r
Slide 54: Operating free cash flow generated in 9M FY23, crosses FY22
Operating free cash flow generated in 9M FY23, crosses FY22 Quarter Nine months Year end (Rs. Mn) 30-Sep-22 31-Dec-22 31-Dec-22 31-Mar-22 Net Cash from Operating Activities 3,920 4,187 11,524 7,806 Less: Interest Paid (743) (793) (2,410) (2,795) Operating free cash flow 3,177 3,394 9,114 5,011 53
Slide 55: Debt Profile as on 31st December 2022
Debt Profile as on 31st December 2022 ➢ Average cost of debt in December 2022 Effective cost of debt (%) stands at 8.41% ➢ Lowest rate on borrowing stands at 7.35% 9.19% ➢ 91% of debt is on the operational portfolio 8.41% 8.17% Status Asset Class Amount (Rs. Mn) 7.30% Retail 27,165 Spread: 479 bps H
Slide 56: Steady decline in debt on operating portfolio
Steady decline in debt on operating portfolio Debt on Operational Portfolio (Rs. Mn) 43,945 43,856 44,574 42,883 41,701 42,018 41,656 41,774 40,189 38,583 37,324 35,964 Mar-20 Jun-20 Sep-20 Dec-20 Mar-21 Jun-21 Sep-21 Dec-21 Mar-22 Jun-22 Sep-22 Dec-22 Debt on Under Construction Portfolio (Rs. Mn) 5
Slide 57: December 2022 Debt and Cash Position
December 2022 Debt and Cash Position Group Level PML Share Amount Rs. Mn Liquidity (Bank balance + 18,634^ 14,593 Investments + DSRA)* Gross Debt 39,528 30,094 Net Debt 20,895 15,500 9M FY23 EBITDA 11,040 9,141 *Does not include Rs. 12,846 mn available in overdraft accounts ^ Includes Starboard whic
Slide 58: Upgrades in Credit Rating in the last 10 months
Upgrades in Credit Rating in the last 10 months Rated Rating as on Rating as on Sr. No. Company Rating Agency Amount Remarks 31-Mar-22 5-Nov-22 (Rs. mn) India Ratings 7,500 A+/ Stable AA-/ Stable Upgraded by 1 notch with stable outlook 1 The Phoenix Mills Limited CRISIL 4,000 A+/ Stable AA-/ Stable
Slide 59: Shareholding Pattern as on 31st December 2022
Shareholding Pattern as on 31st December 2022 Shareholding Pattern Sr. No Top Institutional Investors % Shareholding 1 SCHRODER 6.47% 4.4% 2 GIC 4.28% 19.0% 3 MOTILAL OSWAL 3.00% 4 DSP MF 2.67% 47.3% 5 ICICI PRUDENTIAL AMC 2.05% 6 UTI 1.98% 7 VANGUARD 1.84% 29.3% 8 AXIS MF 1.70% 9 BAILLIE GIFFORD 1.
Slide 60: Annexure
Business Update Business Performance Financial Results Annexure Phoenix Marketcity, Mumbai 59
Slide 61: Phoenix Palladium, Mumbai
Phoenix Palladium, Mumbai (Rs. mn) Q3 FY23 Q3 FY22 YoY % 9M FY23 9M FY22 YoY% Rental 991 725 37% 2,849 1,484 92% CAM & 196 90 117% 554 323 72% Others Total Income 1,187 815 46% 3,403 1,806 88% Asset EBITDA 1,041 728 43% 2,930 1,431 105% Asset EBIDTA Margin as % 105% 100% NA 103% 96% NA of Rental PML
Slide 62: Phoenix Palladium, Mumbai
Phoenix Palladium, Mumbai (Rs. mn) Q3 FY23 Q3 FY20 % growth Rental 991 946 5% CAM & Others 196 253 -22% Total Income 1,187 1,199 -1% Asset EBITDA 1,041 807 29% Asset EBIDTA Margin as % of 105% 85% NA Rental PML Standalone EBITDA 865 663 30% Mall GLA (msf)* 0.92 0.77 19% Mall Rental Rate (Rs. pspm) 4
Slide 63: Phoenix Marketcity, Bangalore
Phoenix Marketcity, Bangalore (Rs. mn) Q3 FY23 Q3 FY22 YoY % 9M FY23 9M FY22 YoY% Rental 507 386 31% 1,439 849 69% CAM & 169 114 48% 486 332 46% Others Total Income 676 500 35% 1,925 1,182 63% Asset EBITDA 479 343 40% 1,416 848 67% Asset EBIDTA Margin as % 95% 89% NA 98% 100% NA of Rental Note: Repo
Slide 64: Phoenix Marketcity, Bangalore
Phoenix Marketcity, Bangalore (Rs. mn) Q3 FY23 Q3 FY20 % growth Rental 507 400 27% CAM & Others 169 179 -6% Total Income 676 579 17% Asset EBITDA 479 402 19% Asset EBIDTA Margin as % of Rental 95% 101% NA Mall Rental Rate (Rs. pspm) 173 138 25% Mall Consumption (Rs. mn) 5,204 4,019 29% Mall Trading
Slide 65: Phoenix Marketcity, Pune
Phoenix Marketcity, Pune (Rs. mn) Q3 FY23 Q3 FY22 YoY % 9M FY23 9M FY22 YoY% Rental 509 432 18% 1,494 761 96% CAM & 194 138 40% 566 341 66% Others Total Income 703 570 23% 2,060 1,102 87% Asset EBITDA 522 371 41% 1,473 676 118% Asset EBIDTA Margin as % 102% 86% NA 99% 89% NA of Rental Note: Reported
Slide 66: Phoenix Marketcity, Pune
Phoenix Marketcity, Pune (Rs. mn) Q3 FY23 Q3 FY20 % growth Rental 509 458 11% CAM & Others 194 198 -2% Total Income 703 656 7% Asset EBITDA 522 445 17% Asset EBIDTA Margin as % of Rental 102% 97% NA Mall Rental Rate (Rs. pspm) 163 136 20% Mall Consumption (Rs. mn) 4,370 3,747 17% Mall Trading Densit
Slide 67: Phoenix Marketcity, Mumbai
Phoenix Marketcity, Mumbai (Rs. mn) Q3 FY23 Q3 FY22 YoY % 9M FY23 9M FY22 YoY% Rental 375 261 44% 1,100 526 109% CAM & 168 139 21% 510 314 62% Others Total Income 543 400 36% 1,610 840 92% Asset EBITDA 347 225 54% 1,047 466 125% Asset EBIDTA Margin as % 93% 86% NA 95% 89% NA of Rental Note: Reported
Slide 68: Phoenix Marketcity, Mumbai
Phoenix Marketcity, Mumbai (Rs. mn) Q3 FY23 Q3 FY20 % growth Rental 375 339 10% CAM & Others 168 181 -7% Total Income 543 519 4% Asset EBITDA 347 332 5% Asset EBIDTA Margin as % of Rental 93% 98% NA Mall Rental Rate (Rs. pspm) 118 108 9% Mall Consumption (Rs. mn) 2,869 2,928 -2% Mall Trading Density
Slide 69: Phoenix Marketcity & Palladium, Chennai
Phoenix Marketcity & Palladium, Chennai (Rs. mn) Q3 FY23 Q3 FY22 YoY % 9M FY23 9M FY22 YoY% Rental 475 418 14% 1,458 960 52% CAM & 244 154 58% 654 440 49% Others Total Income 719 572 26% 2,112 1,400 51% Asset EBITDA 506 455 11% 1,569 1,020 54% Asset EBIDTA Margin as % 106% 109% NA 108% 106% NA of Re
Slide 70: Phoenix Marketcity & Palladium, Chennai
Phoenix Marketcity & Palladium, Chennai (Rs. mn) Q3 FY23 Q3 FY20 % growth Rental 475 482 -1% CAM & Others 244 284 -14% Total Income 719 766 -6% Asset EBITDA 506 510 -1% Asset EBIDTA Margin as % of 106% 106% NA Rental Mall Rental Rate (Rs. pspm) 159 141 13% Mall Consumption (Rs. mn) 3,660 3,309 11% M
Slide 71: Phoenix Palassio, Lucknow
Phoenix Palassio, Lucknow (Rs. mn) Q3 FY23 Q3 FY22 YoY % 9M FY23 9M FY22 YoY% Rental 319 248 29% 891 565 58% CAM & 130 60 117% 385 257 50% Others Total Income 449 308 46% 1,276 821 55% Asset EBITDA 317 267 19% 915 601 52% Asset EBIDTA Margin as % 99% 108% NA 103% 106% NA of Rental 70
Slide 72: Phoenix Palassio, Lucknow
Phoenix Palassio, Lucknow (Rs. mn) Q3 FY23 Rental 319 CAM & Others 130 Total Income 449 Asset EBITDA 317 Asset EBIDTA Margin as % of 99% Rental Mall Rental Rate (Rs. pspm) 124 Mall Consumption (Rs. mn) 2,727 Mall Trading Density (Rs. pspm) 1,578 Mall Trading Occupancy (%) 95% 71
Slide 73: Phoenix Citadel, Indore
Phoenix Citadel, Indore (Rs. mn) December 2022 Rental 28 CAM & Others 18 Total Income 46 Asset EBITDA 20 Asset EBIDTA Margin as % of 71% Rental Mall Rental Rate (Rs. pspm) 114 Mall Consumption (Rs. mn) 197 Mall Trading Density (Rs. pspm) 888 Mall Trading Occupancy (%) 42% 72
Slide 74: Phoenix United, Lucknow
Phoenix United, Lucknow (Rs. mn) Q3 FY23 Q3 FY22 YoY % 9M FY23 9M FY22 YoY% Rental 90 77 17% 277 179 54% CAM & 40 19 106% 126 91 39% Others Total Income 129 96 35% 403 270 49% Asset EBITDA 80 68 18% 259 163 59% Asset EBIDTA Margin as % 89% 88% NA 94% 91% NA of Rental 73
Slide 75: Phoenix United, Lucknow
Phoenix United, Lucknow (Rs. mn) Q3 FY23 Q3 FY20 % growth Rental 90 90 0% CAM & Others 40 54 -27% Total Income 129 144 -10% Asset EBITDA 80 73 9% Asset EBIDTA Margin as % of 89% 81% NA Rental Mall Rental Rate (Rs. pspm) 88 82 8% Mall Consumption (Rs. mn) 597 890 -33% Mall Trading Density (Rs. pspm)
Slide 76: Phoenix United, Bareilly
Phoenix United, Bareilly (Rs. mn) Q3 FY23 Q3 FY22 YoY % 9M FY23 9M FY22 YoY% Rental 69 60 16% 185 138 35% CAM & 30 13 129% 92 76 21% Others Total Income 99 73 37% 277 214 30% Asset EBITDA 73 54 37% 189 134 42% Asset EBIDTA Margin as % 106% 90% NA 102% 97% NA of Rental 75
Slide 77: Phoenix United, Bareilly
Phoenix United, Bareilly (Rs. mn) Q3 FY23 Q3 FY20 % growth Rental 69 62 12% CAM & Others 30 43 -30% Total Income 99 105 -6% Asset EBITDA 73 46 59% Asset EBIDTA Margin as % of 106% 74% NA Rental Mall Rental Rate (Rs. pspm) 69 60 14% Mall Consumption (Rs. mn) 562 586 -4% Mall Trading Density (Rs. pspm
Slide 78: Renewal Schedule (% of total leasable area)
Renewal Schedule (% of total leasable area) 49% of leasable area for renewal over next 3 years 35% of leasable area for renewal over next 3 years 32% of leasable area for renewal over next 3 years 22% 14% 13% 11% Palladium PMC Mumbai PMC Pune 10% 10% Phoenix 16% 9% 11% FY23 FY24 FY25 FY23 FY24 FY25
Slide 79: ~33% of current operational retail GLA up for repricing in next three years
~33% of current operational retail GLA up for repricing in the next three years Area up for repricing over next three years (msf) % of operational 13% 10% 10% 33% retail GLA ~0.7 msf ~2.2 msf ~0.6 msf + = ~0.9 msf + FY23 FY24 FY25 GLA up for repricing in next three years 78
Slide 80: Q3 FY23 Debt Across Subsidiaries
Q3 FY23 Debt Across Subsidiaries PML Q2FY23 Q3FY23 Asset Type SPV Asset Name Ownership (Rs. Mn) (Rs. Mn) PML Standalone Phoenix Palladium, Mumbai 100% 5,682 5,461 Classic Mall Development Phoenix MarketCity, Chennai 100% 5,181 3,847 Vamona Developers Phoenix MarketCity, Pune 67.1% 3,615 3,371 Island
Slide 81: The Phoenix Mills Limited – Follow us for updates
The Phoenix Mills Limited – Follow us for updates Asset Instagram handle Link Retail Phoenix Palladium, Mumbai phoenixpalladium https://www.instagram.com/phoenixpalladium/ PMC, Kurla marketcitykurla https://www.instagram.com/marketcitykurla/ Phoenix Palassio, Lucknow phoenixpalassio https://www.inst
Slide 82: Thank you
Thank you Varun Parwal Madhurima Kane Email: varun.p@phoenixmills.com Email: madhurima.kane@phoenixmills.com Website: https://www.thephoenixmills.com/investors 81