Phoenix Mills Ltd. · NSE:PHOENIXLTD
Phoenix Mills — The Phoenix Mills — Q2 FY23 Earnings Presentation
83 slides from Phoenix Mills's earnings presentation, Nov 8, 2022
Slide 1: Exchange filing cover letter for 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 November 08, 2022 BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers Exchang
Slide 2: The Phoenix Mills Ltd. Investor Presentation Q2 and H1 FY23
The Phoenix Mills Ltd. Investor Presentation Q2 and H1 FY23 Phoenix Palladium, Mumbai
Slide 3: Business Update, Business Performance, Financial Results, Annexure
Business Update Business Performance Financial Results Annexure Phoenix Palassio, Lucknow 2
Slide 4: Q2 FY23 Consumption at 130% of Q2 FY20
Q2 FY23 Consumption at 130% of Q2 FY20 (pre-Covid quarter) Q2 FY23 Consumption (Rs. mn) As % of 124% 139% 122% 103% 112% NA 66% 89% Q2 FY20 4,982 4,445 3,821 3,387 2,450 2,008 483 410 Phoenix PMC Bangalore PMC Pune PMC Mumbai PMC & Palladium Phoenix Palassio PU Lucknow PU Bareilly Palladium Chennai
Slide 5: H1 FY23 Consumption at 126% of H1 FY20
H1 FY23 Consumption at 126% of H1 FY20 (pre-Covid period) H1 FY23 Consumption (Rs. mn) As % of 121% 133% 117% 100% 110% NA 67% 87% H1 FY20 9,994 8,716 7,559 6,594 4,987 4,140 1,042 857 Phoenix PMC Bangalore PMC Pune PMC Mumbai PMC & Palladium Phoenix Palassio PU Lucknow PU Bareilly Palladium Chennai
Slide 6: Retail consumption in October 2022 at 133% of October 2019
Retail consumption in October 2022 at 133% of October 2019 October 2022 Consumption (Rs. mn) As % of 123% 138% 123% 101% 113% NA 74% 101% October 2019 2,216 1,970 1,712 1,299 1,060 1,069 248 203 Phoenix PMC Bangalore PMC Pune PMC Mumbai PMC & Palladium Phoenix Palassio PU Lucknow PU Bareilly Palladi
Slide 7: Retail consumption April to October 2022 at 127%
Retail consumption in April to October 2022 at 127% of April to October 2019 April to October 2022 Consumption (Rs. mn) As % of 122% 134% 118% 101% 111% NA 69% 90% YTD Apr- Oct 2019 12,210 10,686 9,271 7,893 6,047 5,208 1,290 1,060 Phoenix PMC Bangalore PMC Pune PMC Mumbai PMC & Palladium Phoenix Pa
Slide 8: Resumption of marquee events: Tribute to KK
Resumption of marquee events with easing of COVID-19 restrictions Photo shot at location Tribute to KK, at Phoenix MarketCity, Kurla 7
Slide 9: Resumption of marquee events: Lucky Ali concert
Resumption of marquee events with easing of COVID-19 restrictions Photo shot at location Lucky Ali Live-in concert at Phoenix Marketcity, Bangalore 8
Slide 10: Phoenix Palladium, Mumbai: expansion from 0.77 msf to >1.43 msf
Phoenix Palladium, Mumbai: expansion underway from 0.77 msf to >1.43 msf by 2025 0.20 Retail at Rise 1 ✓ 0.25 0.15 New retail block GLA (msf) opposite PVR Palladium LG, 1.43 1st, 2nd Floor + East Zone 0.77 Mar-22 Jun-22 2024 2025 2025 9
Slide 11: Phoenix Palladium, Mumbai: Expansion & New Stores opened
Phoenix Palladium, Mumbai: Expansion & New Stores opened 10
Slide 12: Phoenix Palladium, Mumbai: Expansion & New Stores opened
Phoenix Palladium, Mumbai: Expansion & New Stores opened 11
Slide 13: Phoenix Palladium, Mumbai: Expansion & New Stores opened
Phoenix Palladium, Mumbai: Expansion & New Stores opened 12
Slide 14: Update on under-construction retail malls
Update on under-construction retail malls Phoenix Phoenix Citadel, Palladium, Phoenix Mall of the Mall of Asia, Indore Ahmedabad Millennium, Pune Bangalore Retail GLA – ~1.2 msf Retail GLA – ~1.1 msf Proposed GLA Retail GLA – ~1 msf Retail GLA – ~0.77 msf Office GLA – ~1.2 msf Office GLA – ~1.2 msf
Slide 15: Phoenix Citadel, Indore – Opening doors in December 2022
Phoenix Citadel, Indore – Opening doors in December 2022 The biggest Retail Destination of Madhya Pradesh Indicative Render 14
Slide 16: Phoenix Citadel, Indore
Phoenix Citadel, Indore Actual Photo 15
Slide 17: Phoenix Citadel, Indore – Interior Shots
Phoenix Citadel, Indore – Interior Shots Actual Photo Actual Photo 16
Slide 18: Phoenix Citadel, Indore – Interior Shots
Phoenix Citadel, Indore – Interior Shots Actual Photo Actual Photo 17
Slide 19: Palladium, Ahmedabad – Slated to open in January 2023
Palladium, Ahmedabad – Slated to open in January 2023 The Luxury mall of Gujarat Indicative Render 18
Slide 20: Palladium, Ahmedabad
Palladium, Ahmedabad Actual Photo Actual Actual Photo Photo 19 19
Slide 21: Palladium, Ahmedabad
Palladium, Ahmedabad Actual Photo 20
Slide 22: Phoenix Mall of Asia, Bangalore
Phoenix Mall of Asia, Bangalore The Largest Retail led Mixed-use development in Bangalore Indicative Render 21
Slide 23: Phoenix Mall of Asia, Bangalore
Phoenix Mall of Asia, Bangalore Actual Photo 22
Slide 24: Phoenix Mall of the Millennium, Pune
Phoenix Mall of the Millennium, Pune The New Epicentre for West Pune Indicative Render 23
Slide 25: Alipore, Kolkata: commenced construction
Alipore, Kolkata: East India’s retail destination – commenced construction Indicative Render Indicative Render Concept Architect – Callison 24 24
Slide 26: Project Rise – commenced construction
Project Rise – the Jewel in the Phoenix crown – commenced construction Project Rise: Office GLA: ~1.1 msft Retail GLA: ~0.20 msft Concept Architect – Callison 25
Slide 27: Update on other Under Development Projects
Update on other Under Development Projects ✓ Demolition work for on-site structures has completed ✓ Consent to Establish received in July 2022 Kolkata ✓ Environmental clearance received in June 2022 ✓ Building plans approved in April 2022 ✓ Shore piling work currently under progress ✓ Construction w
Slide 28: Business Performance - Retail
Business Update Business Performance - Retail Financial Results Annexure Phoenix Marketcity, Bangalore 27
Slide 29: Q2 FY23 Retail Rental Income at 121% of Q2 FY20
Q2 FY23 Retail Rental Income at 121% of Q2 FY20 (pre-Covid period) Q2 FY23 Q2 FY22 Name of Asset Retail Rental Income Retail Rental Income % of Q2 FY20 (pre-COVID period) (Rs. mn) (Rs. mn) Phoenix Palladium 913 104% 466 Phoenix Marketcity Bangalore 472 131% 351 Phoenix Marketcity Pune 462 108% 221 P
Slide 30: Q2 FY23 Retail EBITDA at 129% of Q2 FY20
Q2 FY23 Retail EBITDA at 129% of Q2 FY20 (pre-Covid period) Q2 FY23 Q2 FY22 Name of Asset EBITDA EBITDA % of Q2 FY20 (pre-COVID period) (Rs. mn) (Rs. mn) Phoenix Palladium 956 125% 355 Phoenix Marketcity Bangalore 469 126% 384 Phoenix Marketcity Pune 439 101% 207 Phoenix Marketcity Mumbai 342 103% 1
Slide 31: H1 FY23 Retail Rental Income at 122% of H1 FY20
H1 FY23 Retail Rental Income at 122% of H1 FY20 (pre-Covid period) H1 FY23 H1 FY22 Name of Asset Retail Rental Income Retail Rental Income % of H1 FY20 (pre-COVID period) (Rs. mn) (Rs. mn) Phoenix Palladium 1,858 110% 759 Phoenix Marketcity Bangalore 932 130% 463 Phoenix Marketcity Pune 985 115% 329
Slide 32: H1 FY23 Retail EBITDA at 128% of H1 FY20
H1 FY23 Retail EBITDA at 128% of H1 FY20 (pre-Covid period) H1 FY23 H1 FY22 Name of Asset EBITDA EBITDA % of H1 FY20 (pre-COVID period) (Rs. mn) (Rs. mn) Phoenix Palladium 1,889 122% 703 Phoenix Marketcity Bangalore 936 124% 505 Phoenix Marketcity Pune 951 109% 305 Phoenix Marketcity Mumbai 700 107%
Slide 33: Business Performance - Commercial
Business Update Business Performance - Commercial Financial Results Annexure Fountainhead Towers, Pune 32 32
Slide 34: 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 0.51 88 Phoenix Paragon Plaza Mumbai 0.43 0.12 0.31 0.17 108 Fount
Slide 35: Q2 FY23 Office Income up 3% yoy
Q2 FY23 Office Income up 3% yoy EBITDA as % of Total Total Income (Rs mn) EBITDA (Rs Mn) Income Operational Portfolio Q2 FY23 Q2 FY22 Growth (%) Q2 FY23 Q2 FY22 Growth (%) Q2 FY23 Q2 FY22 Art Guild House 194 232 (17%) 123 172 (28%) 64% 74% Phoenix Paragon Plaza 81 65 25% 40 38 5% 49% 58% Fountainhea
Slide 36: H1 FY23 Office Income up 7% yoy
H1 FY23 Office Income up 7% yoy EBITDA as % of Total Total Income (Rs mn) EBITDA (Rs Mn) Income Operational Portfolio H1 FY23 H1 FY22 Growth (%) H1 FY23 H1 FY22 Growth (%) H1 FY23 H1 FY22 Art Guild House 381 418 (9%) 249 309 (19%) 65% 74% Phoenix Paragon Plaza 153 134 13% 76 91 (16%) 50% 67% Fountai
Slide 37: Business Performance - Hospitality
Business Update Business Performance - Hospitality Financial Results Annexure By the Mekong, The St. Regis, Mumbai 36
Slide 38: The St. Regis, Mumbai
The St. Regis, Mumbai (Rs mn) Q2 FY23 Q2 FY20 % growth H1 FY23 H1 FY20 % growth Revenue from 356 304 17% 718 622 15% Rooms Revenue from F&B 386 311 24% 782 636 23% and Banqueting Other Operating 103 61 69% 176 125 41% Income Total Income 845 675 25% 1,675 1,373 22% Operating EBITDA 347 237 46% 665 4
Slide 39: The St. Regis, Mumbai – Significant improvement in Room Occupancy
The St. Regis, Mumbai – Significant improvement in Room Occupancy 91% 87% 86% 85% 81% 79% 76% 77% 74% 51% 46% 42% 34% Occupancy impacted due to Omicron wave 14% April May June July August September October Room Occupancy 2021 (%) Room Occupancy 2022 (%) Improvement in Occupancy led by revival in cor
Slide 40: The St. Regis, Mumbai – Significant improvement in RevPAR
The St. Regis, Mumbai – Significant improvement in RevPAR 11,242 11,198 10,973 10,744 9,543 8,829 8,957 5,263 4,336 3,305 3,034 2,376 1,783 1,100 April May June July August September October RevPAR 2021 (Rs.) RevPAR 2022 (Rs.) 39
Slide 41: Courtyard by Marriott, Agra
Courtyard by Marriott, Agra % % (Rs. mn) Q2 FY23 Q2 FY20 H1 FY23 H1 FY20 growth growth Revenue from 43 35 23% 83 72 15% Rooms Revenue from F&B and 34 27 26% 73 61 20% Banqueting Other Operating 10 4 150% 13 8 63% Income Total Income 87 66 32% 168 141 19% Occupancy (%) 63% 61% NA 63% 62% NA ARR (Rs.)
Slide 42: Courtyard by Marriott, Agra – Room Occupancy
Courtyard by Marriott, Agra – Significant Improvement in Room Occupancy 80% 72% 66% 68% 63% 64% 58% 60% 62% 60% 47% Occupancy impacted due to 26% Omicron 23% wave 1% April May June July August September October Room Occupancy 2021 (%) Room Occupancy 2022 (%) Occupancy levels back in FY23 aided by re
Slide 43: Courtyard by Marriott, Agra – RevPAR
Courtyard by Marriott, Agra – Significant improvement in RevPAR 4,000 3,790 3,500 3,000 2,547 2,531 2,500 2,367 2,327 2,284 2,076 1,942 2,000 1,511 1,579 1,453 1,500 1,000 713 726 500 60 - April May June July August September October RevPAR 2021 (Rs.) RevPAR 2022 (Rs.) 42
Slide 44: Business Performance - Residential
Business Update Business Performance - Residential Financial Results Annexure One Banglore West, Indicative Render 43
Slide 45: 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. 979 mn in Q2 FY23 ➢ Strong sales momentum continues, with gross residential sales of ~Rs. 2,000 mn in YTD October 2022 ➢ Colle
Slide 46: Financial Results
Business Update Business Performance Financial Results Annexure Phoenix Marketcity, Pune 45 45
Slide 47: Standalone P&L – Q2 & H1 FY23 vs. Q2 & H1 FY22
Standalone P&L – Q2 & H1 FY23 vs. Q2 & H1 FY22 (Rs. mn) Q2 FY23 Q2 FY22 YoY% H1 FY23 H1 FY22 YoY% Income from operations 1,179 598 97% 2,301 991 132% EBITDA 801 259 209% 1,538 420 266% EBITDA Margin (%) 68% 43% NA 67% 42% NA Profit before tax & exceptional items 610 181 238% 1,531 471 225% Exception
Slide 48: Standalone P&L – Q2 & H1 FY23 vs. Q2 & H1 FY20
Standalone P&L – Q2 & H1 FY23 vs. Q2 & H1 FY20 Growth over Growth over (Rs. mn) Q2 FY23 Q2 FY20 H1 FY23 H1 FY20 Q2FY20 (%) H1 FY20 (%) Income from operations 1,179 1,131 4% 2,301 2,264 2% EBITDA 801 665 21% 1,538 1,365 13% EBITDA Margin (%) 68% 59% NA 67% 60% NA Profit before tax & exceptional items
Slide 49: Standalone Balance Sheet
Standalone Balance Sheet As on As on As on As on (Rs. mn) (Rs. mn) 30-Sep-22 31-Mar-22 30-Sep-22 31-Mar-22 Share capital 357 357 Non-current assets 50,826 41,478 Reserves and surplus 46,588 45,626 Tangible assets + intangible assets 4,464 4,523 Sub-Total 46,945 45,983 Capital work in progress 964 94
Slide 50: Consolidated P&L – Q2 & H1 FY23 vs. Q2 & H1 FY22
Consolidated P&L – Q2 & H1 FY23 vs. Q2 & H1 FY22 (Rs. mn) Q2 FY23 Q2 FY22 YoY% H1 FY23 H1 FY22 YoY% Income from operations 6,511 3,713 75% 12,255 5,756 113% Retail 4,563 2,335 95% 8,649 3,488 148% Residential 579 612 (5%) 875 988 (11%) Commercial 435 421 3% 837 783 7% Hospitality & Others 934 345 17
Slide 51: Consolidated P&L – Q2 & H1 FY23 vs. Q2 & H1 FY20
Consolidated P&L – Q2 & H1 FY23 vs. Q2 & H1 FY20 Growth over Growth over (Rs. mn) Q2 FY23 Q2 FY20 H1 FY23 H1 FY20 Q2 FY20 (%) H1 FY20 (%) Income from operations 6,511 4,151 57% 12,255 10,301 19% Retail 4,563 3,024 51% 8,649 6,070 42% Residential 579 112 417% 875 2,183 (60%) Commercial 435 264 65% 83
Slide 52: Consolidated Balance Sheet
Consolidated Balance Sheet As on As on As on As on (Rs. mn) (Rs. mn) 30-Sep-22 31-Mar-22 30-Sep-22 31-Mar-22 Share capital 357 357 Non-current assets 1,28,927 1,05,144 Reserves and surplus 75,600 65,468 Tangible assets + intangible assets 93,772 75,077 Sub-Total 75,957 65,825 Capital work in progres
Slide 53: Q2 FY23 Consolidated EBITDA growth compared to Q2 FY20 (like-to-like)
Q2 FY23 Consolidated EBITDA demonstrates 33% growth compared to Q2 FY20 (like-to-like basis) (Rs. mn.) Q2FY20 Q2FY23 % growth H1FY20 H1FY23 % growth Consolidated EBITDA 2,107 3,809 81% 5,034 7,038 40% Less: EBITDA contributions from - Classic Mall - 473 - 731 (Phoenix Marketcity, Chennai) Destiny Ho
Slide 54: Debt Profile as on 30 September 2022
Debt Profile as on 30 September 2022 ➢ Average cost of debt in September 2022 Effective cost of debt (%) stands at 7.89% ➢ Lowest rate on borrowing stands at 7.35% 9.19% ➢ 88% of debt is on the operational portfolio 8.17% Status Asset Class Amount (Rs. mn) 7.90% 7.84% 7.61% 7.89% 7.30% 7.45% Retail
Slide 55: 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 Mar-20 Jun-20 Sep-20 Dec-20 Mar-21 Jun-21 Sep-21 Dec-21 Mar-22 Jun-22 Sep-22 Debt on Under Construction Portfolio (Rs mn) 5,542 5,788 5,312
Slide 56: September 2022 Debt and Cash Position
September 2022 Debt and Cash Position Group Level PML Share Amount Rs. mn Liquidity (Bank balance + 22,997^ 16,919 Investments + DSRA)* Gross Debt 42,636 32,646 Net Debt 19,639 15,726 H1 FY23 EBITDA 7,156^ 5,888 ^ Includes Starboard which does not form part of PML Consolidated * Does not include Rs.
Slide 57: PML Consolidated Cashflow
PML Consolidated Cashflow Quarter Half year (Rs. Mn) 30-Jun-22 30-Sep-22 30-Jun-22 CASH FLOW FROM OPERATING ACTIVITIES Operating Cash flow before working capital changes 3,317 3,783 7,100 Add: Changes in Working Capital 555 631 1,187 Less: Direct Taxes Paid (455) (429) (885) Net cash generated from
Slide 58: Operating free cash flow generated in H1 FY23, crosses FY22
Operating free cash flow generated in H1 FY23, crosses FY22 Quarter Half year Year end (Rs. Mn) 30-Jun-22 30-Sep-22 30-Sep-22 31-Mar-22 Net Cash from Operating Activities 3,417 3,985 7,402 7,806 Less: Interest Paid (875) (808) (1,683) (2,795) Operating free cash flow 2,543 3,177 5,719 5,011 57
Slide 59: Upgrades in Credit Rating in the last 7 months
Upgrades in Credit Rating in the last 7 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 U
Slide 60: Shareholding Pattern as on 30 September 2022
Shareholding Pattern as on 30 September 2022 Shareholding Pattern Sr. No Top Institutional Investors % Shareholding 30-09-2022 1 SCHRODER 6.85% 2 GIC 4.32% 3 DSP MF 2.48% 17.6% 4.5% 4 ICICI PRUDENTIAL AMC 2.41% 5 UTI 1.94% 47.3% 6 VANGUARD 1.82% 7 MOTILAL OSWAL 1.72% 30.6% 8 BAILLIE GIFFORD 1.72% 9
Slide 61: Annexure
Business Update Business Performance Financial Results Annexure Palladium, Chennai 60
Slide 62: Phoenix Palladium, Mumbai
Phoenix Palladium, Mumbai (Rs. mn) Q2 FY23 Q2 FY22 YoY % H1 FY23 H1 FY22 YoY% Rental 913 466 96% 1,858 759 145% CAM & 190 133 43% 358 232 54% Others Total Income 1,103 598 84% 2,216 991 124% Asset EBITDA 956 355 170% 1,889 703 169% Asset EBIDTA Margin as % 105% 76% NA 102% 93% NA of Rental PML Stand
Slide 63: Phoenix Palladium, Mumbai
Phoenix Palladium, Mumbai (Rs. mn) Q2 FY23 Q2 FY20 % growth Rental 913 879 4% CAM & Others 190 252 (25%) Total Income 1,103 1,131 (2%) Asset EBITDA 956 767 25% Asset EBIDTA Margin as % of 105% 87% NA Rental PML Standalone EBITDA 801 665 20% Mall GLA (msf) 0.92 0.74 24% Mall Rental Rate (Rs. pspm) 40
Slide 64: Phoenix Marketcity, Bangalore
Phoenix Marketcity, Bangalore (Rs. mn) Q2 FY23 Q2 FY22 YoY % H1 FY23 H1 FY22 YoY% Rental 472 351 35% 932 463 101% CAM & 158 144 10% 317 219 45% Others Total Income 630 495 27% 1,249 682 83% Asset EBITDA 469 384 22% 936 505 85% Asset EBIDTA Margin as % 99% 110% NA 100% 109% NA of Rental Note: Reporte
Slide 65: Phoenix Marketcity, Bangalore
Phoenix Marketcity, Bangalore (Rs. mn) Q2 FY23 Q2 FY20 % growth Rental 472 360 31% CAM & Others 158 183 (14%) Total Income 630 543 16% Asset EBITDA 469 373 26% Asset EBIDTA Margin as % of Rental 99% 104% NA Mall Rental Rate (Rs. pspm) 164 126 30% Mall Consumption (Rs. mn) 4,445 3,205 39% Mall Tradin
Slide 66: Phoenix Marketcity, Pune
Phoenix Marketcity, Pune (Rs. mn) Q2 FY23 Q2 FY22 YoY % H1 FY23 H1 FY22 YoY% Rental 462 221 109% 985 329 199% CAM & 180 129 39% 372 203 84% Others Total Income 641 350 83% 1,356 532 155% Asset EBITDA 439 207 112% 951 305 212% Asset EBIDTA Margin as % 95% 94% NA 97% 93% NA of Rental Note: Reported EB
Slide 67: Phoenix Marketcity, Pune
Phoenix Marketcity, Pune (Rs. mn) Q2 FY23 Q2 FY20 % growth Rental 462 427 8% CAM & Others 180 200 (10%) Total Income 641 627 2% Asset EBITDA 439 436 1% Asset EBIDTA Margin as % of Rental 95% 102% NA Mall Rental Rate (Rs. pspm) 148 124 19% Mall Consumption (Rs. mn) 3,821 3,144 22% Mall Trading Densit
Slide 68: Phoenix Marketcity, Mumbai
Phoenix Marketcity, Mumbai (Rs. mn) Q2 FY23 Q2 FY22 YoY % H1 FY23 H1 FY22 YoY% Rental 351 177 99% 726 265 174% CAM & 170 100 70% 342 174 96% Others Total Income 522 277 88% 1,067 440 143% Asset EBITDA 342 160 113% 700 241 190% Asset EBIDTA Margin as % 97% 91% NA 96% 91% NA of Rental Note: Reported E
Slide 69: Phoenix Marketcity, Mumbai
Phoenix Marketcity, Mumbai (Rs. mn) Q2 FY23 Q2 FY20 % growth Rental 351 320 10% CAM & Others 170 221 (23%) Total Income 522 542 (4%) Asset EBITDA 342 332 3% Asset EBIDTA Margin as % of Rental 97% 103% NA Mall Rental Rate (Rs. pspm) 111 102 9% Mall Consumption (Rs. mn) 2,450 2,378 3% Mall Trading Den
Slide 70: Phoenix Marketcity & Palladium, Chennai
Phoenix Marketcity & Palladium, Chennai (Rs. mn) Q2 FY23 Q2 FY22 YoY % H1 FY23 H1 FY22 YoY% Rental 489 393 24% 983 542 81% CAM & 206 172 20% 410 285 44% Others Total Income 695 565 23% 1,393 828 68% Asset EBITDA 531 426 25% 1,063 565 88% Asset EBIDTA Margin as % 109% 108% NA 108% 104% NA of Rental 6
Slide 71: Phoenix Marketcity & Palladium, Chennai
Phoenix Marketcity & Palladium, Chennai (Rs. mn) Q2 FY23 Q2 FY20 % growth Rental 489 475 3% CAM & Others 206 220 (6%) Total Income 695 695 0% Asset EBITDA 531 440 21% Asset EBIDTA Margin as % of 109% 93% NA Rental Mall Rental Rate (Rs. pspm) 161 140 15% Mall Consumption (Rs. mn) 3,387 3,013 12% Mall
Slide 72: Phoenix Palassio, Lucknow
Phoenix Palassio, Lucknow (Rs. mn) Q2 FY23 Q2 FY22 YoY % H1 FY23 H1 FY22 YoY% Rental 292 245 19% 571 317 80% CAM & 125 139 (10%) 256 197 30% Others Total Income 417 383 9% 827 513 61% Asset EBITDA 292 253 15% 598 334 79% Asset EBIDTA Margin as % 100% 103% NA 105% 105% NA of Rental 71
Slide 73: Phoenix Palassio, Lucknow
Phoenix Palassio, Lucknow (Rs. mn) Q2 FY23 Rental 292 CAM & Others 125 Total Income 417 Asset EBITDA 292 Asset EBIDTA Margin as % of 100% Rental Mall Rental Rate (Rs. pspm) 115 Mall Consumption (Rs. mn) 2,008 Mall Trading Density (Rs. pspm) 1,181 Mall Trading Occupancy (%) 92% 72
Slide 74: Phoenix United, Lucknow
Phoenix United, Lucknow (Rs. mn) Q2 FY23 Q2 FY22 YoY % H1 FY23 H1 FY22 YoY% Rental 96 74 31% 187 102 84% CAM & 45 41 10% 87 72 21% Others Total Income 142 115 23% 274 173 58% Asset EBITDA 97 68 43% 179 98 82% Asset EBIDTA Margin as % 101% 92% NA 96% 96% NA of Rental 73
Slide 75: Phoenix United, Lucknow
Phoenix United, Lucknow (Rs. mn) Q2 FY23 Q2 FY20 % growth Rental 96 79 22% CAM & Others 45 53 (14%) Total Income 142 132 8% Asset EBITDA 97 74 32% Asset EBIDTA Margin as % of 101% 94% NA Rental Mall Rental Rate (Rs. pspm) 83 80 4% Mall Consumption (Rs. mn) 483 728 -34% Mall Trading Density (Rs. pspm
Slide 76: Phoenix United, Bareilly
Phoenix United, Bareilly (Rs. mn) Q2 FY23 Q2 FY22 YoY % H1 FY23 H1 FY22 YoY% Rental 58 58 - 116 77 51% CAM & 33 40 (17%) 62 65 (4%) Others Total Income 91 98 (7%) 178 142 25% Asset EBITDA 58 59 (2%) 116 79 47% Asset EBIDTA Margin as % 100% 101% NA 100% 102% NA of Rental 75
Slide 77: Phoenix United, Bareilly
Phoenix United, Bareilly (Rs. mn) Q2 FY23 Q2 FY20 % growth Rental 58 55 6% CAM & Others 33 44 (25%) Total Income 91 98 (8%) Asset EBITDA 58 47 24% Asset EBIDTA Margin as % of 100% 85% NA Rental Mall Rental Rate (Rs. pspm) 63 65 -3% Mall Consumption (Rs. mn) 410 463 -11% Mall Trading Density (Rs. psp
Slide 78: Occupancy trend across major malls
Occupancy trend across major malls Leased Occupancy Trading Occupancy Jun-22 Oct-22 Jun-22 Oct-22 Phoenix Palladium 97% 98% 86% 90%* Phoenix Marketcity Bangalore 95% 97% 91% 94% Phoenix Marketcity Pune 92% 92% 85% 86% Phoenix Marketcity Mumbai 95% 97% 86% 86% Phoenix Marketcity and Palladium Chennai
Slide 79: 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 80: ~33% of 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 79
Slide 81: Q2 FY23 Debt Across Subsidiaries
Q2 FY23 Debt Across Subsidiaries Asset Type SPV Asset Name PML Ownership Q1FY23 (Rs. Mn) Q2FY23 (Rs. Mn) PML Standalone Phoenix Palladium, Mumbai 100% 5,918 5,682 Classic Mall Development Phoenix MarketCity, Chennai 100% 5,344 5,181 Vamona Developers Phoenix MarketCity, Pune 67.1% 3,829 3,615 Island
Slide 82: 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 83: Thank you
Thank you Varun Parwal Madhurima Kane Email: varun.p@phoenixmills.com Email: madhurima.kane@phoenixmills.com Website: https://www.thephoenixmills.com/investors 82