Phoenix Mills Ltd. · NSE:PHOENIXLTD

Phoenix Mills — The Phoenix Mills — Investor Presentation (June 2018)

96 slides from Phoenix Mills's investor presentation, June 2018

  1. Slide 1: Corporate Presentation

    Corporate Presentation June 2018

  2. Slide 2: Disclaimer

    Disclaimer Certain statements in this communication may be ‘forward looking statements’ within the meaning of applicable laws and regulations. These forward-looking statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those s

  3. Slide 3: Company Overview, Operational Performance, CPPIB Alliance

    Company Overview Operational Performance CPPIB Alliance New Asset Additions Financial Performance FY18 Financial Performance Highlight

  4. Slide 4: Company Overview

    Company Overview Developer and Operator of prime retail-led assets in city centers, with a gross portfolio of 17.5 million sq. ft. spread over 100+ acres of prime land in key gateway cities of India 8 operating Malls (GLA of 5.90 msft.) in 6 cities Residential Projects under Development with 2 malls

  5. Slide 5: Our Portfolio

    Our Portfolio OPERATIONAL ANNUITY PORTFOLIO PORTFOLIO UNDER DEVELOPMENT MALL PORTFOLIO MALL PORTFOLIO – Under Development (5.90 MSF) (2.10 MSF) HSP & Palladium Mumbai 0.74 Phoenix MarketCity Pune 1.0 Phoenix MarketCity Chennai 1.00 Wakad Palladium Chennai 0.22 Phoenix MarketCity Bengaluru 1.1 Phoeni

  6. Slide 6: Our Residential Portfolio

    Our Residential Portfolio Kessaku One Bangalore West Residential Portfolio SALEABLE AREA (MSF) PROJECT NAME (OPERATIONAL) Total Area Area Sold Area launched One Bangalore West, 2.20 1.48 1.23 Bengaluru Kessaku, Bengaluru 0.99 0.57 0.23 The Crest, Chennai 0.53 0.53 0.43 Total 3.72 2.58 1.89

  7. Slide 7: Presence Across Key Gateway Cities in India

    Presence Across Key Gateway Cities in India 7

  8. Slide 8: Board of Directors

    Board of Directors Mr. Ashok Kumar Ruia, CMD Mr. Amit Kumar Dabriwala, Independent Director - Graduate from Cambridge , been on the Board since 1963. He - Graduated from the Calcutta University, Promoter Director of has vast experience in managing the Company’s affairs United Credit Securities Limit

  9. Slide 9: PML Top Management – Experienced Core Team

    PML Top Management – Experienced Core Team Shishir Shrivastava Jt. Managing Director Dipesh Gandhi Group Director - Business Development Rajesh Kulkarni Group Director - Projects Delivery Nilesh Louzado Sr. VP – Procurement & Contracts Haresh Morajkar Group Director & Chief HR Officer Gajendra Ratho

  10. Slide 10: Company Overview, Operational Performance, CPPIB Alliance

    Company Overview Operational Performance CPPIB Alliance New Asset Additions Financial Performance FY18 Financial Performance Highlight

  11. Slide 11: PML’s Multi-faceted Growth Trajectory

    PML’s Multi-faceted Growth Trajectory  Alliance with CPPIB – Key enabler to  Strong Performance of operational double retail portfolio rental assets  CPPIB invested Rs. 16,620 mn for a 49%  FY13-18 Consumption CAGR at 20% stake; balance 51% with PML  FY13-18 rental income CAGR at 15%  Committe

  12. Slide 12: Operational Performance

    OPERATIONAL PERFORMANCE A proxy for Indian Urban Consumption

  13. Slide 13: Strong Macro Tailwinds Bode Well for Retail Sector

    Strong Macro Tailwinds Bode Well for Retail Sector India Consumption Growth rate Transition from unorganized to organized retail 10.0% 9.0% 8.7% 120.0% Organized Unorganized 8.0% 7.4% 100.0% 6.8% 6.1% 7.0% 6.0% 5.3% 80.0% 5.0% 60.0% 76% 4.0% 92% 3.0% 40.0% 2.0% 1.0% 20.0% 0.0% 24% 0.0% 8% 2012 2013

  14. Slide 14: Urbanization, Disposable Income to drive Consumption

    Urbanization, Disposable Income to drive Consumption Increase in per capita disposable income in India … growing urban population Fig in US$ 2,500 2,208 35% 2,027 34% 2,000 1,875 32% 33% 1,748 1,601 1,617 1,505 31% 1,500 28% 1,000 500 0 2013 2014 2015 2016 2017e 2018e 2019e 2001 2010 2014 2015 2016

  15. Slide 15: Retail malls in India: Widening gap of demand and supply

    Retail malls in India: Widening gap of demand and supply Mall additions in past three years at all-time lows… … while demand for new rental space will remain robust 15.0 13.8 15.0 10.7 10.0 10.0 6.9 7.6 6.5 6.2 5.7 5.1 4.1 4.2 4.3 4.5 4.0 5.0 3.6 5.0 3.3 2.7 1.3 1.6 0.0 0.0 -0.3 -5.0 -5.0 2009 2010

  16. Slide 16: PML’s evolution into a retail powerhouse

    PML’s evolution into a retail powerhouse 1999 - 2005 2006 - 2012 2013 - 2017 Now  Evolution of HSP from a textile  Large, city-centric land parcels  Established market leadership  Strong consumption = sustained mill  to an entertainment acquired for creating integrated, of Malls in respective c

  17. Slide 17: First Order Derivative of India’s Consumption Story

    First Order Derivative of India’s Consumption Story Retail Rental Income to grow in sync with underlying Consumption Growth • During FY13-18, consumption at our malls has grown at a CAGR of 20% • The FY13-18 consumption growth is at c.2x of 300 Rebased to 100 nominal GDP growth of India 250 • We exp

  18. Slide 18: Long Term Sustainable Growth Delivered Through The Cycle

    Long Term Sustainable Growth Delivered Through The Cycle MarketCity malls to follow similar growth trajectory at HSP & Palladium  In 2010, trading density and consumption at High Street Bubble size represents consumption Phoenix was at Rs 1,055 psf pm and Rs 4,371 mn, FY18 Rentals (Rs mn) respectiv

  19. Slide 19: Revenue Cycle of a Mall

    Revenue Cycle of a Mall Cash flow from mall continues to grow even after mall matures MAJORITY of retail lease agreements at PML pay HIGHER of Minimum Guarantee (MG) rents and Revenue Share (% of consumption) Generally MG escalates by mid-double digits at the end of 3 years and mid-to-high single di

  20. Slide 20: Phoenix Malls are Future-ready

    Phoenix Malls are Future-ready

  21. Slide 21: PML – Preferred destination for All

    PML – Preferred destination for All Malls located at Prime Catchments in the major metropolitan cities of India 1 1 Creating a community mixed-use development Experienced & Decentralized Mall Management Our malls are typically 1 msft or higher – complete teams 2 2 offering with strong focus on F&B,

  22. Slide 22: Phoenix Retail Evolution 2.0

    Phoenix Retail Evolution 2.0 • Easy Pickup/Drop for OLA and Uber Creating a • Office Anchor • Multiple Entry Points at Community - • Hotel Mobility & • different levels Technology integration for Convenience FUTURE Mixed-Use • • Large Events Venue Performing Arts Auditorium / Multi- better parking m

  23. Slide 23: HSP & Palladium, Mumbai – Old Courtyard

    HSP & Palladium, Mumbai – Old Courtyard Old Courtyard

  24. Slide 24: HSP & Palladium, Mumbai – New Courtyard

    HSP & Palladium, Mumbai – New Courtyard New Courtyard

  25. Slide 25: HSP & Palladium Mall Upgrades

    HSP & Palladium Mall Upgrades Old North SkyZone New North SkyZone

  26. Slide 26: HSP & Palladium Mall – Superior Interiors & Property Management

    HSP & Palladium Mall – Superior Interiors & Property Management

  27. Slide 27: Phoenix MarketCity Mumbai Upgrades

    Phoenix MarketCity Mumbai Upgrades

  28. Slide 28: Phoenix MarketCity Mumbai - Before & After Façade

    Phoenix MarketCity Mumbai - Before & After Façade Old Façade New Façade

  29. Slide 29: Phoenix MarketCity Mumbai - Before & After Interiors

    Phoenix MarketCity Mumbai - Before & After Interiors Old Interiors New Plush Interiors

  30. Slide 30: Phoenix MarketCity Mumbai Christmas Décor

    Phoenix MarketCity Mumbai Christmas Décor

  31. Slide 31: Palladium Chennai – Delivering “WOW” Experience

    Palladium Chennai – Delivering “WOW” Experience

  32. Slide 32: Phoenix MarketCity Bangalore Innovative Christmas Décor

    Phoenix MarketCity Bangalore Innovative Christmas Décor Tallest Christmas Tree in India 32

  33. Slide 33: PMC Bangalore – Host to the Best Events in the city

    PMC Bangalore – Host to the Best Events in the city

  34. Slide 34: PMC Bangalore – Host to the Best Events in the city

    PMC Bangalore – Host to the Best Events in the city

  35. Slide 35: CPPIB Alliance

    CPPIB ALLIANCE Key enabler to double retail portfolio

  36. Slide 36: Strategic Alliance with CPPIB – Key Highlights

    Strategic Alliance with CPPIB – Key Highlights • Strategic alliance with CPPIB to acquire, develop, operate retail-led developments formed in April 2017 Rs. 22,000 mn 17,000 mn • CPPIB invested Rs. 1,662 cr in Island Star Mall Developers Pvt. Ltd. (ISMDPL), PML’s subsidiary, for a 49% equity stake w

  37. Slide 37: ISMDPL – Strategic Retail Alliance with CPPIB

    ISMDPL – Strategic Retail Alliance with CPPIB ISMDPL PML: 51% CPPIB: 49% Operating Asset New Acquisitions PMC Wakad, Hebbal, Bangalore Pune Bengaluru • Land Size: 15 acres • Land Size: 13 acres • 1msf of Retail with balance • Acquisition Cost: Rs. 1,940 mn • Acquisition Cost : Rs. 6,930 mn developme

  38. Slide 38: Land acquisition at Wakad, Pune – Aug 2017

    Land acquisition at Wakad, Pune – Aug 2017 Deal Overview Location Dynamics i. Acquired approx. 15 acres of land parcel, located behind Hotel Sayaji  Current mall in Viman Nagar serves the CBD of Kharadi and in Wakad Pune, for Rs. 194 cr surrounding residential areas of Kalyani Nagar, Boat Club, Kor

  39. Slide 39: Phoenix MarketCity Wakad, Pune - Concept

    Phoenix MarketCity Wakad, Pune - Concept

  40. Slide 40: Phoenix MarketCity Wakad, Pune - Concept

    Phoenix MarketCity Wakad, Pune - Concept Retail Mall 1.0 mn. sq. ft. F&B Village Commercial Retail Development Offices • Inline Stores • Anchor Stores • Mini Anchors • F&B Outlets • Multiplex • Experiential Cultural Performance Auditorium

  41. Slide 41: Land acquisition at Hebbal, Bangalore – April 2018

    Land acquisition at Hebbal, Bangalore – April 2018 Deal Overview Location Dynamics i. Acquired approx. 13 acres of land parcel, located next to  Current mall in Whitefield serves the eastern parts of L&T Raintree Boulevard residential project in Hebal, Bengaluru city Bangalore, for Rs. 693 cr in Ap

  42. Slide 42: Phoenix MarketCity Hebbal

    Phoenix MarketCity Hebbal PMC Hebbal • Vicinities in North Bangalore such as Hebbal, Bellary Road are amongst the most prominent emerging commercial and residential micro Future Growth markets Corridors in North 20 km distance • Our existing PMC Bangalore caters to the eastern catchments of Whitefie

  43. Slide 43: Phoenix MarketCity Hebbal, Bangalore Site - Location

    Phoenix MarketCity Hebbal, Bangalore Site - Location Location L&T Raintree Boulevard, Bellary Road, Hebbal, Bangalore Gross Plot Area 13.1 acres (53,001.7 sq.mt) Development Potential 1.81 msft of which retail will be > 1 msft

  44. Slide 44: Phoenix MarketCity Hebbal Plot Demarcation

    Phoenix MarketCity Hebbal Plot Demarcation Mixed Use Development Commercial • Residential: 30 Acres (development potential of 3.8 million sq. ft.) • Commercial (Tech, SEZ & IT Park): 23 acres (development potential of 2.9 Commercial million sq. ft.) Residential Area acquired by ISML Mall & Multiplex

  45. Slide 45: New Asset Additions

    NEW ASSET ADDITIONS Expanding Commercial Portfolio

  46. Slide 46: Growing Commercial Portfolio Adds to Annuity Income

    Growing Commercial Portfolio Adds to Annuity Income • Growing portfolio of Grade A commercial, rent-generating spaces in city- centres of Mumbai, Pune, Bangalore and Chennai. Art Guild House, Mumbai • Our current operational space i. Rent-generating area of approx. 1.16 msf ii. Located in prime loca

  47. Slide 47: Operational Commercial Portfolio

    Operational Commercial Portfolio Net Area Average  AGH reported Rental Income of Rs. 245 Mn for FY18 Project Total Area Area Sold Leasable Leased Rate Name (msf) (msf)  85% of available leasable area in AGH has been leased Area (msf) (msf) (Rs./sq.ft) Phoenix 0.14 - 0.14 0.13 110^ House # Centrium

  48. Slide 48: Growing Commercial Portfolio

    Growing Commercial Portfolio Pune (0.7 msf) Chennai (0.42 msf) Bangalore HSP (1.3 msf) 3.07 msf (0.65 msf) Commercial addition ) Additional developments on existing assets at Pune, Chennai, Bengaluru and Mumbai will further augment the rent generating commercial portfolio

  49. Slide 49: Financial Performance

    FINANCIAL PERFORMANCE Surplus cash generation to continue

  50. Slide 50: FY18 Key Financial Highlights

    FY18 Key Financial Highlights Revenue of INR 16.2 bn EBITDA of INR 8.5bn PAT at INR 2.4 bn, FY13-18 CAGR of 28% FY13-18 CAGR of 25% up 44% yoy Consumption of over INR 63 bn Retail rental income of INR 8.6 bn Rental EBITDA at INR 7.8 bn, FY13-18 CAGR of 20% FY13-18 CAGR of 15% up 8% yoy Interest cove

  51. Slide 51: Key Highlights

    Key Highlights Consumption (Rs. bn) Rental Income (Rs. bn) FY13-18 FY13-18 8.4 CAGR – 20% 63.2 57.8 CAGR – 15% 7.7 54.0 7.1 49.0 6.5 5.7 40.3 4.2 25.7 FY13 FY14 FY15 FY16 FY17 FY18 FY13 FY14 FY15 FY16 FY17 FY18 Consolidated Revenue (Rs. bn)^ Consolidated EBITDA (Rs. bn)^ FY13-18 FY13-18 8.5 CAGR – 2

  52. Slide 52: Well Managed Debt Portfolio

    Well Managed Debt Portfolio Average Cost of debt Effective cost of debt (%) has been trending down 126 bps 12.3% 13.0% 11.8% 12.5% 12.0% 11.5% 11.0% in last 12 months 11.0% 10.5% 10.0% 10.2% 9.5% 8.94% 9.0% 8.5% Strong Credit Rating across portfolio Interest 8.0% Mar-14 Mar-15 Mar-16 Mar-17 Mar-18 C

  53. Slide 53: Improving EBITDA, declining Int. Exp. to improve cash flows

    Improving EBITDA, declining Int. Exp. to improve cash flows Historically operational cash flows have been largely deployed towards minority stake buyouts Fig in INR mn FY13 FY14 FY15 FY16 FY17 FY18  Strong Operational Cash Flows EBITDA 2,631 6,784 7,620 7,869 8,469^ 7,774^ • Growing EBITDA on the L

  54. Slide 54: Company Overview, Operational Performance, CPPIB Alliance

    Company Overview Operational Performance CPPIB Alliance New Asset Additions Financial Performance FY18 Financial Performance Highlight

  55. Slide 55: Financial Overview – Standalone P&L

    Financial Overview – Standalone P&L (Rs. mn) Q4 FY18 Q4 FY17 FY18 FY17 Income from operations 1,044 919 3,972 3,759 EBITDA 644 603 2,522 2,538 EBITDA Margin (%) 62% 66% 63% 68% Profit Before Tax and exceptional item 407 445 1,901 1,975 Profit after tax & before comprehensive income 314 368 1,548 1,3

  56. Slide 56: Financial Overview – Standalone Balance Sheet

    Financial Overview – Standalone Balance Sheet (Rs. mn) As on 31st March 2018 (Rs. mn) As on 31st March 2018 Share Capital 306 Non Current Assets 32,457 Reserves & Surplus 25,378 Tangible Assets 6,378 Sub-Total 25,684 Intangible Assets 0 Minority Interest - Capital Work in Progress 1,072 Non Current

  57. Slide 57: Financial Overview – Consolidated P&L

    Financial Overview – Consolidated P&L (Rs. mn) Q4 FY18 Q4 FY17 % Change FY18 FY17 % Change Note to P&L • Classic Mall Development Income from operations 4,366 4,544 16,198 18,246 Company Private Limited Retail 2,698 3,052 10,595 11,930 (CMDCPL), which owns and operates the retail mall known Resident

  58. Slide 58: Financial Overview – Consolidated Balance Sheet

    Financial Overview – Consolidated Balance Sheet (Rs. mn) As on 31st March 2018 (Rs. mn) As on 31st March 2018 Share Capital 306 Non Current Assets 70,487 Reserves & Surplus 28,211 Tangible Assets 52,939 Sub-Total 28,517 Intangible Assets 25 Minority Interest 4,661 Capital Work in Progress 5,025 36,1

  59. Slide 59: Financial Overview – Pro forma analysis of Consolidated P&L

    Financial Overview – Pro forma analysis of Consolidated P&L Proforma adjustment of Q4 & FY18 results for the change in treatment for Classic Mall • For like-to-like comparison with the prior year period, we have adjusting reported FY18 results and for the sake of illustration, present proforma resul

  60. Slide 60: Operational Update – Retail Portfolio

    Operational Update – Retail Portfolio HSP & Phoenix MarketCity Phoenix United Palladium Palladium Mumbai Bangalore Chennai Mumbai Pune Bareilly Lucknow Chennai Retail Leasable/Licensable Area (msf ) 0.74 1.00 1.00 1.11 1.19 0.31 0.33 0.22 Total No. of Stores 271 295 259 315 352 144 130 77 Average Re

  61. Slide 61: FY18 – Retail Key Highlights

    FY18 – Retail Key Highlights Consumption (Rs. mn) Total Consumption – Rs. 63.2 bn, up 9% yoy 16,456 12,361 10,742 10,828 8,143 2,850 1,722 178 HSP & Palladium PMC Chennai PMC Bengaluru PMC Pune PMC Mumbai Palladium Chennai Phoenix United Phoenix United Bareilly Lucknow Opened 1% 0% 21% 12% 17% in Fe

  62. Slide 62: High Street Phoenix & Palladium

    High Street Phoenix & Palladium 0.74 Million Sq. Ft. Total Leasable Area 90% FY18 Occupancy 269 No of Stores Rs 16,456 Million FY18 Consumption Rs 3,034 psf pm FY18 Trading Density

  63. Slide 63: High Street Phoenix & Palladium Mall

    High Street Phoenix & Palladium Mall  Rental Income of Rs. 803 mn this quarter, up 13% yoy Consumption (Rs. mn)  Trading Density is up 5% yoy for FY18 at Rs. 3,034 pspm 3,781 4,024 4,524 3,934 4,208 4,574 4,057 3,617  Consumption of Rs. 4,057 mn in Q4 FY18, up 3% yoy;  Positive impact on Q4 FY18

  64. Slide 64: High Street Phoenix & Palladium Mall

    High Street Phoenix & Palladium Mall % yoy % yoy Q4FY18 Q4FY17 FY18 FY17 growth growth Rental Income (Rs. mn) ^ 803 711 13% 3,022 2,837 7% Recoveries (CAM and other) 241 210 15% 950 922 3% (Rs. mn) Total Income (Rs. mn) 1,044 921 13% 3,972 3,759 6% EBITDA (Rs. mn) 644 603 7% 2,522 2,538 -1% EBIDTA M

  65. Slide 65: High Street Phoenix & Palladium Mall

    High Street Phoenix & Palladium Mall Rental Income (Rs.mn) FY13-18 CAGR – 11% 3,022 2,837 2,601 2,293 2,039 1,824 FY13 FY14 FY15 FY16 FY17 FY18 Consumption (Rs.mn) Average Trading Density (Rs./sft pm) FY13-18 16,264 16,456 CAGR – 7% 15,438 3,034 14,403 2,894 2,741 13,185 2,553 11,711 2,263 2,020 FY1

  66. Slide 66: High Street Phoenix & Palladium Mall

    High Street Phoenix & Palladium Mall 66

  67. Slide 67: Phoenix MarketCity Bangalore

    Phoenix MarketCity Bangalore 0.99 Million Sq. Ft. Total Leasable Area 93% FY18 Occupancy 296 No of Stores Rs. 12,361 Million FY18 Consumption Rs 1,694 psf pm FY18 Trading Density 67

  68. Slide 68: Phoenix MarketCity Bangalore

    Phoenix MarketCity Bangalore  PMC Bangalore in its sixth year of operations continues to Consumption (Rs. mn) demonstrate market leading growth across categories 3,299 3,172 3,030 2,918 2,859 2,398 2,554 2,332  FY18 Consumption was up 21% yoy to Rs. 12,361 mn while Trading Density was up 17% at Rs

  69. Slide 69: Phoenix MarketCity Bangalore

    Phoenix MarketCity Bangalore % yoy % yoy Q4FY18 Q4FY17 FY18 FY17 growth growth Rental Income (Rs. mn) 322 283 14% 1,275 1,090 17% Recoveries (CAM and other) 164 153 7% 668 609 10% (Rs. mn) Total Income (Rs. mn) 486 436 11% 1,943 1,699 14% EBITDA (Rs. mn) 299 285 5% 1,228 1,087 13% EBIDTA Margin 93%

  70. Slide 70: Phoenix MarketCity Bangalore

    Phoenix MarketCity Bangalore Rental Income (Rs.mn) FY13-18 CAGR – 16% 1,275 1,090 958 876 768 603 FY13 FY14 FY15 FY16 FY17 FY18 Consumption (Rs.mn) Average Trading Density (Rs./sft pm) FY13-18 1,694 CAGR – 26% 12,361 1,444 10,200 1,287 8,859 1,131 7,753 975 6,573 745 3,832 FY13 FY14 FY15 FY16 FY17 F

  71. Slide 71: Phoenix MarketCity Chennai

    Phoenix MarketCity Chennai 1.00 Million Sq. Ft. Total Leasable Area 94% FY18 Occupancy 261 No of Stores Rs. 10,742 Million FY18 Consumption Rs. 1,489 psf pm FY18 Trading Density

  72. Slide 72: Phoenix MarketCity Chennai

    Phoenix MarketCity Chennai  Consumption in Chennai came in at Rs. 10,742 mn for FY18 Consumption (Rs. mn) 2,845 2,856 2,812 2,747  The asset recorded a strong 12% EBITDA growth at Rs. 2,597 2,401 2,706 2,478 1,499 mn while rental income came in at Rs.1,394 mn  Consumption was impacted during the

  73. Slide 73: Phoenix MarketCity Chennai

    Phoenix MarketCity Chennai % yoy % yoy Q4FY18 Q4FY17 FY18 FY17 growth growth Rental Income (Rs. mn) 357 339 5% 1,394 1,286 8% Recoveries (CAM and other) 174 181 773 735 5% (Rs. mn) Total Income (Rs. mn) 531 520 2% 2,166 2,021 7% EBITDA (Rs. mn) 345 371 1,499 1,341 12% EBIDTA Margin (as % of Rental 9

  74. Slide 74: Phoenix MarketCity Chennai

    Phoenix MarketCity Chennai FY14-18 Rental Income (Rs.mn) CAGR – 13% 1,394 1,286 1,196 1,109 858 117 FY13 FY14 FY15 FY16 FY17 FY18 Consumption (Rs.mn) Average Trading Density (Rs./sft pm) FY14-18 11,289 10,481 10,699 10,742 CAGR – 12% 1,572 1,553 1,489 1,480 1,226 6,938 800 518 FY13 FY14 FY15 FY16 FY

  75. Slide 75: Phoenix MarketCity Pune

    Phoenix MarketCity Pune 1.19 Million Sq. Ft. Total Leasable Area 92% FY18 Occupancy 341 No of Stores Rs. 10,828 Million FY18 Consumption Rs 1,224 psf pm FY18 Trading Density 75

  76. Slide 76: Phoenix MarketCity Pune

    Phoenix MarketCity Pune Consumption (Rs. mn)  FY18 Consumption was at Rs. 10,828 Mn, up 12% yoy 2,812 2,969 2,747 2,616 2,422 2,495  PMC Pune closed the year with a trading density of Rs. 1,244 2,208 2,188 psf pm  Consumption growth translated into strong rental income; Q1 FY17 Q2 FY17 Q3 FY17 Q4

  77. Slide 77: Phoenix MarketCity Pune

    Phoenix MarketCity Pune % yoy % yoy Q4FY18 Q4FY17 FY18 FY17 growth growth Rental Income (Rs. mn) 360 330 9% 1,386 1,202 15% Recoveries (CAM and other) 209 195 7% 843 760 11% (Rs. mn) Total Income (Rs. mn) 568 525 8% 2,229 1,962 14% EBITDA (Rs. mn) 326 275 18% 1,252 1,073 17% EBIDTA Margin (as % of R

  78. Slide 78: Phoenix MarketCity Pune

    Phoenix MarketCity Pune FY13-18 Rental Income (Rs.mn) CAGR – 17% 1,386 1,202 1,035 941 789 640 FY13 FY14 FY15 FY16 FY17 FY18 Average Trading Density (Rs./sft pm) Consumption (Rs.mn) FY13-18 1,208 1,224 10,828 1,077 CAGR – 19% 9,629 975 8,659 7,650 812 6,221 653 4,610 FY13 FY14 FY15 FY16 FY17 FY18 FY

  79. Slide 79: Phoenix MarketCity Mumbai

    Phoenix MarketCity Mumbai 1.11 Million Sq. Ft. Total Leasable Area 91% FY18 Occupancy 317 No of Stores Rs. 8,143 Million FY18 Consumption Rs. 1,044 psf pm FY18 Trading Density

  80. Slide 80: Phoenix MarketCity Mumbai

    Phoenix MarketCity Mumbai  PMC Kurla continues its successful turnaround story Consumption (Rs. mn) 2,320  Consumption at PMC Kurla was up 17% yoy at Rs. 8,143 1,929 1,784 2,052 1,801 1,970 1,565 1,678 mn in FY18  Rental Income of Rs. 1,102 Mn in FY18, up 19% Q1 FY17 Q2 FY17 Q3 FY17 Q4 FY17 Q1 FY

  81. Slide 81: Phoenix MarketCity Mumbai

    Phoenix MarketCity Mumbai % yoy % yoy Q4FY18 Q4FY17 FY18 FY17 growth growth Rental Income (Rs. mn) 281 235 20% 1,102 926 19% Recoveries (CAM and other) (Rs. mn) 145 119 22% 576 577 Total Income (Rs. mn) 426 353 21% 1,678 1,503 12% EBITDA (Rs. mn) 225 223 928 777 20% EBIDTA Margin (as % of Rental 80%

  82. Slide 82: Phoenix MarketCity Mumbai

    Phoenix MarketCity Mumbai Rental Income (Rs.mn) FY13-18 CAGR – 8% 1,102 991 954 934 926 750 FY13 FY14 FY15 FY16 FY17 FY18 Consumption (Rs.mn) Average Trading Density (Rs./sft pm) FY13-18 CAGR – 24% 1,044 8,143 942 6,957 797 5,957 705 5,480 586 4,460 454 2,818 FY13 FY14 FY15 FY16 FY17 FY18 FY13 FY14

  83. Slide 83: Renewal Schedule (% of total leasable area)

    Renewal Schedule (% of total leasable area) HSP & Palladium PMC Bangalore PMC Chennai 60% of leasable area for renewal 36% of leasable area for renewal 25% of leasable area for renewal over next 3 years over next 3 years over next 3 years 27% 25% 18% 19% 16% 6% 5% 3% 2% FY19 FY20 FY21 FY19 FY20 FY21

  84. Slide 84: Residential Portfolio: High Margin, Cash Flow Business

    Residential Portfolio: High Margin, Cash Flow Business One Bangalore West and Kessaku • Premium and upscale, large-scale residential developments • Product design, quality and location in or around mixed-use destinations have established the projects as market leaders • Expect substantial free cash

  85. Slide 85: Operational Update – Residential Portfolio

    Operational Update – Residential Portfolio Revenue recognized Saleable area (msf) (Rs. mn) Project Name Area Sold Sales Value Average Selling Price Collections (operational) (msf) (Rs. mn) (Rs. psf) (Rs. mn) Total Area Balance in Q4 FY18 Cumulative Area launched Area One Bangalore West, 2.20 1.48 0.

  86. Slide 86: One Bangalore West, Bengaluru

    One Bangalore West, Bengaluru Tower Saleable Area (msf) Launched Sold One Bangalore West Tower 1-5 1.23 1.23 1.09 Tower 6 0.26 0.26 0.13 Tower 7-9 0.72 Not Launched - Total 2.20 1.48 1.23 Q4FY18 Q4FY17 Q3FY18 Saleable Area for 9 Towers (msf) 2.20 2.20 2.20 Cumulative Sale Value (Rs. mn) 12,041 11,23

  87. Slide 87: Kessaku, Bengaluru

    Kessaku, Bengaluru Kessaku Q4FY18 Q4FY17 Q3FY18 Saleable Area (msf) 0.99 0.99 0.99 Cumulative Sale Value (Rs. mn) 3,461 3,193 3,340 Cumulative Sale Volume (msf) 0.23 0.21 0.22 Cumulative Collections (Rs. mn) 2,430 1,975 2,353 Average Realization (Rs./sft) 15,196 15,378 15,183 Project Update SORA, NI

  88. Slide 88: Kessaku, Bengaluru

    Kessaku, Bengaluru Kessaku Proposed Elevation Kessaku Current Elevation 88

  89. Slide 89: Kessaku, Bengaluru

    Kessaku, Bengaluru Kessaku Façade Actual 89

  90. Slide 90: The Crest, Chennai - Towers A, B and C

    The Crest, Chennai - Towers A, B and C Q4FY18 Q4FY17 Q3FY18 Crest Towers A & B Saleable Area (msf) 0.53 0.53 0.53 Cumulative Sale Value 3,775 3,464 3,762 (Rs. mn) Cumulative Sale Volume (msf) 0.43 0.40 0.43 Cumulative Collections 3,469 3,209 3,446 (Rs. mn) Average Realization (Rs./sft) 8,706 8,656 8

  91. Slide 91: Commercial Portfolio Adds to Annuity Income

    Commercial Portfolio Adds to Annuity Income • Own and operate Grade A commercial, rent-generating Art Guild House, Mumbai space of approx. 1 msf in prime locations in Mumbai • Currently 85% of the available area has been leased to Tier 1 clients – ensures quality catchment and stable rental income •

  92. Slide 92: Operational Update – Commercial Portfolio

    Operational Update – Commercial Portfolio Net Area Average  AGH reported Rental Income of Rs. 245 Mn for FY18 Project Total Area Area Sold Leasable Leased Rate Name (msf) (msf)  85% of available leasable area in AGH has been leased Area (msf) (msf) (Rs./sq.ft) Phoenix 0.14 - 0.14 0.13 110^ House #

  93. Slide 93: Hospitality Portfolio: Steadily Strengthening

    Hospitality Portfolio: Steadily Strengthening • Own and operate marquee hospitality properties in Mumbai and Agra COURTYARD BY ST. REGIS, MUMBAI MARRIOTT, AGRA managed by best-in-class global operator, Marriott Keys 395 193 • The St. Regis, Mumbai and Courtyard by Marriott, Agra are established FY18

  94. Slide 94: FY18 Debt profile

    FY18 Debt profile FY17 Debt FY18 Debt Asset Type SPV Asset Name PML Ownership (Rs.mn) (Rs. mn) • Debt is only marginally PML Standalone High Street Phoenix, Mumbai 100% 7,507 7,174 up over last year despite Classic Mall Phoenix MarketCity, Chennai 50% 4,238 4,779 fund outflows for: Development The C

  95. Slide 95: Shareholding Pattern as on 30 April 2018

    Shareholding Pattern as on 30 April 2018 Sr. No Key Institutional Investors % Shareholding Shareholding Pattern 1 Nordea Bank 10.83% 2.69% 1.43% 4.16% 2 Fidelity Investment Trust 4.36% 3 Schroder 3.06% Promoters FII 4 Van Eck 1.52% 28.91% DII 5 Mondrian 1.12% Public 6 UTI Mutual Fund 1.01% Corporate

  96. Slide 96: For more information on the Company, its projects and services

    For more information on the Company, its projects and services please log on to www.thephoenixmills-ar2017.com or contact: Varun Parwal Contact: +91 22 30016737 Email: varun.p@phoenixmarketcity.in Advait Phatarfod Contact: +91 22 30016804 Email: advait.p@phoenixmarketcity.in

The Phoenix Mills — Investor Presentation (June 2018) on 6ix