Phoenix Mills Ltd. · NSE:PHOENIXLTD
Phoenix Mills — The Phoenix Mills — Q4 FY2023 Earnings Presentation
88 slides from Phoenix Mills's earnings presentation, May 24, 2023
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 660 CIN No. : L17100MH1905PLC000200 May 24, 2023 BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers Exchange Plaz
Slide 2: The Phoenix Mills Ltd. Investor Presentation Q4 and FY23
The Phoenix Mills Ltd. Investor Presentation Q4 and FY23 Phoenix Palladium Mumbai 1
Slide 3: Business Update – Retail
Business Update – Retail Business Performance Financial Results Annexure Phoenix MarketCity Kurla 2
Slide 4: Retail: Q4 FY23 Consumption at 159% of Q4 FY20
Retail: Q4 FY23 Consumption at 159% of Q4 FY20 Q4 FY23 Consumption (Rs. mn) As % of 138% 158% 145% 137% 126% NA NA NA 77% 115% Q4 FY20 5,067 4,037 3,438 3,095 2,395 2,214 596 522 522 227 Phoenix PMC PMC Pune PMC & PMC Mumbai Phoenix Phoenix Palladium PU Lucknow PU Bareilly Palladium Bangalore Pallad
Slide 5: Retail consumption in FY23 at 133% of FY20
Retail consumption in FY23 at 133% of FY20 FY23 Consumption (Rs. mn) As % of 125% 137% 122% 116% 105% NA NA NA 69% 96% FY20 21,348 17,958 15,368 13,349 10,255 9,081 2,161 1,942 793 227 Phoenix PMC Bangalore PMC Pune PMC & PMC Mumbai Phoenix Phoenix Citadel Palladium PU Lucknow PU Bareilly Palladium
Slide 6: Retail consumption in April 2023 at 118% of April 2022
Retail consumption in April 2023 at 118% of April 2022 April 2023 Consumption (Rs. mn) As % of April 105% 120% 111% 110% 106% 122% NA NA 82% 116% 2022 1,770 1,700 1,390 1,150 880 770 290 230 160 170 Phoenix PMC PMC Pune PMC & PMC Mumbai Phoenix Phoenix Palladium PU Lucknow PU Bareilly Palladium Bang
Slide 7: Palladium Ahmedabad – The Luxury mall of Gujarat
Palladium Ahmedabad – Commenced operations on 26th February 2023 The Luxury mall of Gujarat Indicative Render 6
Slide 8: Palladium Ahmedabad
Palladium Ahmedabad Actual Photo 7
Slide 9: Palladium Ahmedabad
Palladium Ahmedabad Actual Photo 8
Slide 10: Palladium Ahmedabad – Performance Update
Palladium Ahmedabad – Performance Update Actual Photo Performance Update – April 2023 2nd Month of Operations • Leased Occupancy: 93% • Trading Occupancy: 57% • Trading Density : Rs. 1,021 psfpm Ramp up in Trading Occupancy 57% 43% 32% Feb-23* Mar-23 Apr-23 *Operations commenced on 26-Feb-23 9
Slide 11: Unveiling Gujarat's newest luxury shopping destination
Unveiling Gujarat’s newest luxury shopping destination Actual Photo Actual Photo Actual Photo Palladium Ahmedabad ▪ Consumption hub in the heart of the City - located on SG highway. ▪ Over 250 national and international brands. ▪ Over 35 luxury brands like TUMI, Michael Kors, Kate Spade, Coach etc.
Slide 12: Palladium Ahmedabad – Interior Shots
Palladium Ahmedabad – Interior Shots Actual Photo Actual Photo Actual Photo Actual Photo Actual Photo 11
Slide 13: Phoenix Citadel Indore – Commenced Operations
Phoenix Citadel Indore – Commenced Operations from 1st December 2022 Actual Photo 12
Slide 14: Phoenix Citadel Indore - Performance Update
Phoenix Citadel Indore - Performance Update Actual Photo Performance Update – April 2023 5th Month of Operations • 100+ brands for the first time in Indore • Leased Occupancy: 94% • Trading Occupancy: 79% Ramp up in Trading Occupancy 79% Actual Photo 70% 64% 50% 42% Dec-22 Jan-23 Feb-23 Mar-23 Apr-2
Slide 15: Phoenix Citadel Indore - Sustainability updates
Phoenix Citadel Indore - Sustainability updates Actual Photo ✓ First retail asset in India to achieve the IFC Edge Advanced Certification ✓ Efficiency details as per IFC Edge Advanced Certificate: ✓ 44% Energy saving ✓ 61% Water saving ✓ 52% less embodied energy in material ✓ 5,860 tCo2/year Operati
Slide 16: Phoenix Mall of Asia Bangalore
Phoenix Mall of Asia Bangalore Indicative Render The Largest Retail led Mixed-use development in Bangalore 15
Slide 17: Phoenix Mall of Asia Bangalore – Interior Progress
Phoenix Mall of Asia Bangalore – Interior Progress Oasis - Finishing work in progress Actual Photo 16 16
Slide 18: Phoenix Mall of Asia Bangalore – Interior Progress
Phoenix Mall of Asia Bangalore – Interior Progress Actual Photo Oasis - Finishing work in progress 17 17
Slide 19: Phoenix Mall of Asia Bangalore
Phoenix Mall of Asia Bangalore • Retail GLA: ~1.20 msft • Office GLA: ~1.20 msft • Occupation certificate received for Retail portion (mall and multiplex) Actual Photo Actual Photo 18
Slide 20: Phoenix Mall of the Millennium Pune
Phoenix Mall of the Millennium Pune The new epicentre at West Pune Indicative Render 19
Slide 21: Phoenix Mall of the Millennium Pune
Phoenix Mall of the Millennium Pune Photo shot at location • Retail GLA: ~1.10 msft • Office GLA: ~1.20 msft • Retail: expected to commence operations by Q2 FY24 • Office: expected to commence operations in FY25 Actual Photo 20
Slide 22: Alipore, Kolkata: East India's retail destination
Alipore, Kolkata: East India’s retail destination - commenced construction; Piling work and diaphragm wall work is in progress Indicative Render Concept Architect – Callison 21
Slide 23: Project Rise at Lower Parel, Mumbai
Project Rise at Lower Parel, Mumbai – office-led mixed use development - the Jewel in the Phoenix crown – approvals secured and construction commenced Office GLA: ~1.10 msft Retail GLA: ~0.20 msf Indicative Render Indicative Render Concept Architect – Callison 22
Slide 24: Business Performance - Retail
Business Update Business Performance - Retail Financial Results Annexure Phoenix Marketcity Pune 23
Slide 25: Q4 FY23 Retail Rental Income grew by 53% over Q4 FY20
Q4 FY23 Retail Rental Income grew by 53% over Q4 FY20 (pre-Covid period) Q4 FY23 Q4 FY20 % growth Name of Asset Retail Rental Income Retail Rental Income over Q4 FY20 (pre-COVID period) (Rs. mn) (Rs. mn) Phoenix Palladium Mumbai 968 780 24% Phoenix MarketCity Bangalore 473 307 54% Phoenix MarketCity
Slide 26: Q4 FY23 Retail Rental Income grew by 36% over Q4 FY22
Q4 FY23 Retail Rental Income grew by 36% over Q4 FY22 Q4 FY23 Q4 FY22 % growth over Name of Asset Retail Rental Income Retail Rental Income Q4 FY22 (Rs. mn) (Rs. mn) Phoenix Palladium Mumbai 968 736 32% Phoenix MarketCity Bangalore 473 371 27% Phoenix MarketCity Pune 476 410 16% Phoenix MarketCity a
Slide 27: Q4 FY23 Retail EBITDA grew by 64% over Q4 FY20
Q4 FY23 Retail EBITDA grew by 64% over Q4 FY20 (pre-Covid period) Q4 FY23 Q4 FY20 % growth Name of Asset Retail EBITDA Retail EBITDA over Q4 FY20 (pre-COVID period) (Rs. mn) (Rs. mn) Phoenix Palladium Mumbai 1,005 797 26% Phoenix MarketCity Bangalore 472 297 59% Phoenix MarketCity Pune 518 324 60% P
Slide 28: Q4 FY23 Retail EBITDA grew by 39% over Q4 FY22
Q4 FY23 Retail EBITDA grew by 39% over Q4 FY22 Q4 FY23 Q4 FY22 % growth over Name of Asset Retail EBITDA Retail EBITDA Q4 FY22 (Rs. mn) (Rs. mn) Phoenix Palladium Mumbai 1,005 838 20% Phoenix MarketCity Bangalore 472 368 28% Phoenix MarketCity Pune 518 375 38% Phoenix MarketCity and Palladium Chenna
Slide 29: FY23 Retail Rental Income grew by 29% over FY20
FY23 Retail Rental Income grew by 29% over FY20 (pre-Covid period) FY23 FY20 % growth Name of Asset Retail Rental Income Retail Rental Income over FY20 (pre-COVID period) (Rs. mn) (Rs. mn) Phoenix Palladium Mumbai 3,818 3,486 10% Phoenix MarketCity Bangalore 1,912 1,426 34% Phoenix MarketCity Pune 1
Slide 30: FY23 Retail Rental Income grew by 65% over FY22
FY23 Retail Rental Income grew by 65% over FY22 FY23 FY22 % growth Name of Asset Retail Rental Income Retail Rental Income over FY22 (Rs. mn) (Rs. mn) Phoenix Palladium Mumbai 3,818 2,219 72% Phoenix MarketCity Bangalore 1,912 1,221 57% Phoenix MarketCity Pune 1,970 1,171 68% Phoenix MarketCity and
Slide 31: FY23 Retail EBITDA grew by 36% over FY20
FY23 Retail EBITDA grew by 36% over FY20 (pre-Covid period) FY23 FY20 % growth Name of Asset Retail EBITDA Retail EBITDA over FY20 (pre-COVID period) (Rs. mn) (Rs. mn) Phoenix Palladium Mumbai 3,935 3,151 25% Phoenix MarketCity Bangalore 1,888 1,457 30% Phoenix MarketCity Pune 1,991 1,646 21% Phoeni
Slide 32: FY23 Retail EBITDA grew by 69% over FY22
FY23 Retail EBITDA grew by 69% over FY22 FY23 FY22 % growth Name of Asset Retail EBITDA Retail EBITDA over FY22 (Rs. mn) (Rs. mn) Phoenix Palladium Mumbai 3,935 2,268 74% Phoenix MarketCity Bangalore 1,888 1,216 55% Phoenix MarketCity Pune 1,991 1,051 89% Phoenix MarketCity and Palladium Chennai 2,0
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) Mar-22 Mar-23 Mar-22 Mar-23 FY22 FY23 Phoenix Palladium Mumbai1 100% 99% 92% 91% 2,181 3,097 Phoenix MarketCity Bangalore 98% 98% 90% 94% 1,746 2,160 Phoenix
Slide 34: Business Performance - Commercial
Indicative Render Business Update Business Performance - Commercial Financial Results Annexure Asia Towers Bangalore 33
Slide 35: Office Portfolio seeing improving leasing traction
Office Portfolio seeing improving leasing traction Net Leasable Average Rate Project Name Location Total Area (msf) Area Sold (msf) Area Leased (msf) Area (msf) psf.* Operational Office Portfolio Art Guild House Mumbai 0.80 0.17 0.63 0.52 89 Phoenix Paragon Plaza Mumbai 0.43 0.12 0.31 0.16 110 Fount
Slide 36: Q4 FY23 Office Income stood at Rs. 433 mn
Q4 FY23 Office Income stood at Rs. 433 mn EBITDA as Total Income (Rs. mn) EBITDA (Rs. mn) % of Total Income Operational Portfolio Q4 FY23 Q4 FY22 Growth (%) Q4 FY23 Q4 FY22 Growth (%) Q4 FY23 Q4 FY22 Art Guild House 193 208 -7% 146 154 -5% 76% 74% Phoenix Paragon Plaza 82 86 -5% 51 58 -12% 62% 67% F
Slide 37: FY23 Office Income up 7% YoY
FY23 Office Income up 7% YoY EBITDA Total Income (Rs. mn) EBITDA (Rs. mn) as % of Total Income Operational Portfolio FY23 FY22 Growth (%) FY23 FY22 Growth (%) FY23 FY22 Art Guild House 769 807 -5% 513 575 -11% 67% 71% Phoenix Paragon Plaza 322 286 13% 173 185 -6% 54% 65% Fountainhead Towers 347 257
Slide 38: Asia Towers Bangalore
Asia Towers Bangalore Actual Photo ✓ GLA: ~1.20 msft ✓ Roof slabs upto 9th floor completed ✓ Lobby and common area finishing, and façade work underway ✓ First phase of offices to be operational in FY24 Actual Photo 37
Slide 39: Millennium Towers Pune
Millennium Towers Pune Photo shot at location Actual Photo ✓ Office GLA: ~1.20 msft ✓ Expected year of operation: FY25 ✓ Construction commenced for 2 of 4 office towers 38
Slide 40: Update on Under Development Commercial Office Projects
Update on Under Development Commercial Office Projects Project Project Status ✓Rock anchoring, excavation, PCC work in progress Office portfolio to grow Project Rise (Commercial ✓Shore piling work completed Offices) in Mumbai ✓Construction work commenced in June 2022 from ~2 msft to ISML - Offices,
Slide 41: Business Performance - Hospitality
Business Update Business Performance - Hospitality Financial Results Annexure By the Mekong, The St. Regis, Mumbai 40
Slide 42: The St. Regis, Mumbai
The St. Regis, Mumbai (Rs mn) Q4 FY23 Q4 FY20 % growth FY23 FY20 % growth Revenue from 567 328 73% 1,761 1,373 28% Rooms Revenue from F&B 567 336 69% 1,859 1,429 30% and Banqueting Other Operating 156 88 77% 422 287 47% Income Total Income 1,290 753 71% 4,042 3,088 31% Operating EBITDA 650 276 135%
Slide 43: The St. Regis, Mumbai – Highest ever gross revenue and EBITDA in FY23
The St. Regis, Mumbai – Highest ever gross revenue and EBITDA in FY23 91% 89% 90% 87% 86% 85% 84% 82% 83% 81% 79% 76% 81% 77% 77% 79% 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 Dece
Slide 44: The St. Regis, Mumbai – Significant improvement in RevPAR
The St. Regis, Mumbai – Significant improvement in RevPAR driven by ARR leadership 91% 87% 76% 81% 86% 85% 79% 84% 82% 83% 89% 81% 34% 14% 42% 46% 51% 74% 77% 77% 79% 46% 79% 90% 18,180 16,174 14,885 14,786 14,001 10,973 11,242 11,241 10,744 9,718 8,829 8,957 8,844 7,601 6,457 6,338 5,263 4,336 3,03
Slide 45: Courtyard by Marriott, Agra
Courtyard by Marriott, Agra (Rs. mn) Q4 FY23 Q4 FY20 % growth FY23 FY20 % growth Revenue from 79 61 29% 239 199 20% Rooms Revenue from F&B and 66 43 55% 197 158 25% Banqueting Other Operating 11 5 128% 29 19 55% Income Total Income 157 109 44% 465 376 24% Occupancy (%) 81% 60% NA 72% 67% NA ARR (Rs.
Slide 46: Courtyard by Marriott, Agra – Significant Improvement in Room Occupancy
Courtyard by Marriott, Agra – Significant Improvement in Room Occupancy 94% 82% 80% 76% 77% 72% 73% 66% 64% 66% 63% 75% 58% 70% 62% 64% 60% 60% 60% Occupancy impacted due to Delta Wave 47% 35% 26% Occupancy 23% impacted due to 1% Omicron wave April May June July August September October November Dec
Slide 47: Courtyard by Marriott, Agra – Significant improvement in RevPAR
Courtyard by Marriott, Agra – Significant improvement in RevPAR 63% 58% 66% 72% 64% 66% 82% 76% 80% 73% 94% 77% 26% 1% 23% 47% 60% 62% 60% 64% 75% 35% 70% 60% 5,868 5,250 4,305 4,125 4,059 3,790 3,675 3,510 2,926 2,547 2,632 2,531 2,367 2,284 2,254 2,076 1,942 1,453 1,511 1,579 1,437 713 726 60 Apri
Slide 48: Business Performance - Residential
Indicative Render Business Update Business Performance - Residential Financial Results Annexure One Bangalore West 47
Slide 49: 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. 1,994 mn in Q4 FY23 ➢ Strong sales momentum continues, with gross residential sales of ~Rs. 4,657 mn in FY23 ➢ Collections in
Slide 50: Key acquisitions during the year – Retail
Key acquisitions during the year – Retail Surat – our 2nd retail destination in Gujarat ✓ Land parcel of ~ 7 acres ✓ Land cost of ~Rs. 501 cr (incl stamp duty). ✓ Planned Retail GLA of ~1msf. ✓ Located at the Citylight Junction, Udhana Magdalla Road. ✓ Serves prominent residential catchment, and als
Slide 51: Key acquisitions during the year – Residential & Warehousing
Key acquisitions during the year – Residential & Warehousing Residential Warehousing HIDCO, Alipore Sohna , NCR ✓ Won auction for 5.5 acres prime land parcel ✓ Acquired 33 acres land parcel ✓ Land cost of ~Rs. 414 cr ✓ Land cost of ~Rs. 54 cr ✓ Saleable area of ~1msf. ✓ GLA of ~1msf. Project Status:
Slide 52: Financial Results
Business Update Business Performance Financial Results Annexure Phoenix Palassio Lucknow 51
Slide 53: Standalone P&L – Q4 & FY23 vs. Q4 & FY22
Standalone P&L – Q4 & FY23 vs. Q4 & FY22 (Rs. mn) Q4 FY23 Q4 FY22 YoY% FY23 FY22 YoY% Income from operations 1,225 1,029 19% 4,765 2,836 68% EBITDA 801 648 24% 3,203 1,642 95% EBITDA Margin (%) 65% 63% NA 67% 58% NA Profit before tax & exceptional items 660 654 1% 2,878 1,614 78% Exceptional items 4
Slide 54: Standalone P&L – Q4 & FY23 vs. Q4 & FY20
Standalone P&L – Q4 & FY23 vs. Q4 & FY20 Growth over Growth over (Rs. mn) Q4 FY23 Q4 FY20 FY23 FY20 Q4 FY20 (%) FY20 (%) Income from operations 1,225 982 25% 4,765 4,444 7% EBITDA 801 563 42% 3,203 2,592 24% EBITDA Margin (%) 65% 57% NA 67% 58% NA Profit before tax & exceptional items 660 266 148% 2
Slide 55: Standalone Balance Sheet
Standalone Balance Sheet As on As on As on As on (Rs. mn) (Rs. mn) 31-Mar-22 31-Mar-23 31-Mar-22 31-Mar-23 Share capital 357 357 Non-current assets 41,478 51,996 Reserves and surplus 45,626 48,188 Tangible assets + intangible assets 4,523 4,760 Sub-Total 45,983 48,545 Capital work in progress 946 1,
Slide 56: Consolidated P&L – Q4 & FY23 vs. Q4 & FY22
Consolidated P&L – Q4 & FY23 vs. Q4 & FY22 (Rs. mn) Q4 FY23 Q4 FY22 YoY% FY23 FY22 YoY% Income from operations 7,290 4,954 47% 26,383 14,835 78% Retail 4,881 3,363 45% 17,954 9,633 86% Residential 546 579 -6% 1,948 1,888 3% Commercial 437 431 1% 1,698 1,580 7% Hospitality & Others 1,426 581 145% 4,7
Slide 57: Consolidated P&L – Q4 & FY23 vs. Q4 & FY20
Consolidated P&L – Q4 & FY23 vs. Q4 & FY20 Growth over Growth over (Rs. mn) Q4 FY23 Q4 FY20 FY23 FY20 Q4 FY20 (%) FY20 (%) Income from operations 7,290 3,992 83% 26,383 19,411 36% Retail 4,881 2,705 80% 17,954 11,993 50% Residential 546 130 320% 1,948 2,794 -30% Commercial 437 290 51% 1,698 1,138 49
Slide 58: Consolidated Balance Sheet
Consolidated Balance Sheet As on As on As on As on (Rs. mn) (Rs. mn) 31-Mar-22 31-Mar-23 31-Mar-22 31-Mar-23 Share capital 357 357 Non-current assets 1,05,170 1,41,227 Reserves and surplus 65,468 83,440 Tangible assets + intangible assets 75,077 1,09,644 Sub-Total 65,825 83,797 Capital work in progr
Slide 59: PML Consolidated Cashflow
PML Consolidated Cashflow Particulars (Rs. Mn) FY23 FY22 CASH FLOWS FROM OPERATING ACTIVITIES Operating cash flow before Working Capital 19,835 7,480 Add: Working Capital changes (41) 826 Less: Taxes Paid (2,090) (577) Net Cash Generated from Operations (A) 17,704 7,729 CASH FLOWS FROM INVESTING ACT
Slide 60: PML Consolidated Cashflow
PML Consolidated Cashflow Particulars (Rs. Mn) FY23 FY22 CASH FLOWS FROM FINANCING ACTIVITIES Proceeds from Minorities 7,630 25,971 Net Proceeds from issue of Equity shares at Share Premium (Net of Issue Expenses) 49 96 Loans availed/ (Repaid) (969) (805) Capital withdrawal by Minorities (1,247) (17
Slide 61: Operating free cash flow generated in FY23, crosses FY22
Operating free cash flow generated in FY23, crosses FY22 Particulars (Rs. Mn) FY23 FY22 Net Cash from Operating Activities 17,704 7,729 Less: Interest Paid (3,669) (2,718) Operating free cash flow 14,035 5,011 60
Slide 62: Debt Profile as on 31st March 2023
Debt Profile as on 31st March 2023 ➢ Average cost of debt in March 2023 stands Effective cost of debt (%) at 8.74% ➢ Lowest rate on borrowing stands at 7.45% 9.19% ➢ 99% of debt is on the operational portfolio 8.74% 8.17% Status Asset Class Amount (Rs. Mn) Spread: Spread: 7.30% Retail 32,197 479 bps
Slide 63: Decline in gross debt levels by Rs. 535cr since March 2020
Decline in gross debt levels by Rs. 535cr since March 2020 Debt on Operational Portfolio (Rs. Mn) 44,574 41,774 40,189 40,022 37,324 Mar-20 Mar-21 Mar-22 Sep-22 Mar-23 Debt on Under Construction Portfolio (Rs. Mn) Debt of Phoenix Citadel and Palladium Ahmedabad moved to operational asset 5,542 5,312
Slide 64: March 2023 Debt and Cash Position
March 2023 Debt and Cash Position Group Level PML Share Amount Rs. Mn Liquidity (Bank balance + 17,550^ 12,988 Investments + DSRA)* Gross Debt 40,371 30,787 Net Debt 22,821 17,799 FY23 EBITDA^ 15,388 13,618 *Does not include amount available in overdraft accounts ^ Includes Starboard which does not
Slide 65: Upgrades/New Credit Rating in the last 12 months
Upgrades/New Credit Rating in the last 12 months Rated Amount Rating as on Rating as on Sr. No. Company Rating Agency Remarks (Rs. mn) 31-Mar-22 31-Mar-23 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-/ Stabl
Slide 66: Annexure
Business Update Business Performance Financial Results Annexure Phoenix MarketCity Pune 65
Slide 67: Phoenix Palladium Mumbai
Phoenix Palladium Mumbai (Rs. mn) Q4 FY23 Q4 FY22 YoY % FY23 FY22 YoY% Rental 968 736 32% 3,818 2,219 72% CAM & 186 134 39% 740 457 62% Others Total Income 1,154 870 33% 4,558 2,676 70% Asset EBITDA 1,005 838 20% 3,935 2,268 74% Asset EBIDTA Margin as % 104% 114% NA 103% 102% NA of Rental PML Standa
Slide 68: Phoenix Palladium Mumbai
Phoenix Palladium Mumbai (Rs. mn) Q4 FY23 Q4 FY20# % growth Rental 968 780 24% CAM & Others 186 202 -8% Total Income 1,154 982 18% Asset EBITDA 1,005 797 26% Asset EBIDTA Margin as % of 104% 102% NA Rental PML Standalone EBITDA 801 563 42% Mall GLA (msf)* 0.92 0.77 19% Mall Rental Rate (Rs. pspm) 41
Slide 69: Phoenix MarketCity Bangalore
Phoenix MarketCity Bangalore (Rs. mn) Q4 FY23 Q4 FY22 YoY % FY23 FY22 YoY% Rental 473 371 27% 1,912 1,221 57% CAM & 166 137 21% 652 469 39% Others Total Income 638 508 26% 2,563 1,690 52% Asset EBITDA 472 368 28% 1,888 1,216 55% Asset EBIDTA Margin as % 100% 99% NA 99% 100% NA of Rental Note: Report
Slide 70: Phoenix MarketCity Bangalore
Phoenix MarketCity Bangalore (Rs. mn) Q4 FY23 Q4 FY20# % growth Rental 473 307 54% CAM & Others 166 157 6% Total Income 638 464 38% Asset EBITDA 472 297 59% Asset EBIDTA Margin as % of Rental 100% 97% NA Mall Rental Rate (Rs. pspm) 160 130 23% Mall Consumption (Rs. mn) 4,037 2,552 59% Mall Trading D
Slide 71: Phoenix MarketCity Pune
Phoenix MarketCity Pune (Rs. mn) Q4 FY23 Q4 FY22 YoY % FY23 FY22 YoY% Rental 476 410 16% 1,970 1,171 68% CAM & 192 161 19% 758 502 51% Others Total Income 668 571 17% 2,728 1,673 63% Asset EBITDA 518 375 38% 1,991 1,051 89% Asset EBIDTA Margin as % 109% 91% NA 101% 90% NA of Rental Note: Reported EB
Slide 72: Phoenix MarketCity Pune
Phoenix MarketCity Pune (Rs. mn) Q4 FY23 Q4 FY20# % growth Rental 476 350 36% CAM & Others 192 174 10% Total Income 668 524 27% Asset EBITDA 518 324 60% Asset EBIDTA Margin as % of Rental 109% 93% NA Mall Rental Rate (Rs. pspm) 148 128 16% Mall Consumption (Rs. mn) 3,438 2,371 45% Mall Trading Densi
Slide 73: Phoenix MarketCity & Palladium Chennai
Phoenix MarketCity & Palladium Chennai (Rs. mn) Q4 FY23 Q4 FY22 YoY % FY23 FY22 YoY% Rental 472 346 36% 1,930 1,306 48% CAM & 196 164 20% 849 605 40% Others Total Income 668 511 31% 2,779 1,910 45% Asset EBITDA 488 285 71% 2,055 1,305 57% Asset EBIDTA Margin as % 103% 82% NA 106% 100% NA of Rental 7
Slide 74: Phoenix MarketCity & Palladium Chennai
Phoenix MarketCity & Palladium Chennai (Rs. mn) Q4 FY23 Q4 FY20# % growth Rental 472 385 23% CAM & Others 196 233 -16% Total Income 668 618 8% Asset EBITDA 488 346 41% Asset EBIDTA Margin as % of 103% 90% NA Rental Mall Rental Rate (Rs. pspm) 153 139 10% Mall Consumption (Rs. mn) 3,095 2,256 37% Mal
Slide 75: Phoenix MarketCity Mumbai
Phoenix MarketCity Mumbai (Rs. mn) Q4 FY23 Q4 FY22 YoY % FY23 FY22 YoY% Rental 370 282 31% 1,470 808 82% CAM & 167 127 32% 677 441 54% Others Total Income 537 409 31% 2,147 1,249 72% Asset EBITDA 391 317 23% 1,438 783 84% Asset EBIDTA Margin as % 106% 112% NA 98% 97% NA of Rental Note: Reported EBIT
Slide 76: Phoenix MarketCity Mumbai
Phoenix MarketCity Mumbai (Rs. mn) Q4 FY23 Q4 FY20# % growth Rental 370 283 31% CAM & Others 167 153 9% Total Income 537 436 23% Asset EBITDA 391 242 62% Asset EBIDTA Margin as % of Rental 105% 86% NA Mall Rental Rate (Rs. pspm) 111 110 - Mall Consumption (Rs. mn) 2,395 1,896 26% Mall Trading Densit
Slide 77: Phoenix United Lucknow
Phoenix United Lucknow (Rs. mn) Q4 FY23 Q4 FY22 YoY % FY23 FY22 YoY% Rental 87 68 28% 364 246 48% CAM & 41 33 25% 167 124 35% Others Total Income 128 101 27% 531 370 44% Asset EBITDA 83 57 46% 342 220 55% Asset EBIDTA Margin as % 96% 84% NA 94% 89% NA of Rental 76
Slide 78: Phoenix United Lucknow
Phoenix United Lucknow (Rs. mn) Q4 FY23 Q4 FY20# % growth Rental 87 72 21% CAM & Others 41 51 -20% Total Income 128 123 4% Asset EBITDA 83 64 30% Asset EBIDTA Margin as % of 96% 89% NA Rental Mall Rental Rate (Rs. pspm) 86 87 - Mall Consumption (Rs. mn) 522 681 -23% Mall Trading Density (Rs. pspm) 7
Slide 79: Phoenix United Bareilly
Phoenix United Bareilly (Rs. mn) Q4 FY23 Q4 FY22 YoY % FY23 FY22 YoY% Rental 56 56 - 241 193 25% CAM & 32 23 41% 124 99 26% Others Total Income 89 79 12% 366 292 25% Asset EBITDA 63 43 47% 252 177 42% Asset EBIDTA Margin as % 111% 77% NA 104% 92% NA of Rental 78
Slide 80: Phoenix United Bareilly
Phoenix United Bareilly (Rs. mn) Q4 FY23 Q4 FY20# % growth Rental 56 50 12% CAM & Others 32 45 -29% Total Income 89 96 -7% Asset EBITDA 63 53 19% Asset EBIDTA Margin as % of 111% 106% NA Rental Mall Rental Rate (Rs. pspm) 67 69 -3% Mall Consumption (Rs. mn) 522 455 15% Mall Trading Density (Rs. pspm
Slide 81: Phoenix Palassio Lucknow
Phoenix Palassio Lucknow (Rs. mn) Q4 FY23 Q4 FY22 YoY % FY23 FY22 YoY% Rental 309 238 30% 1,200 803 49% CAM & 115 94 23% 500 350 43% Others Total Income 425 332 28% 1,701 1,153 48% Asset EBITDA 301 237 27% 1,216 838 45% Asset EBIDTA Margin as % 97% 100% NA 101% 104% NA of Rental 80
Slide 82: Phoenix Palassio Lucknow
Phoenix Palassio Lucknow (Rs. mn) Q4 FY23 Rental 309 CAM & Others 115 Total Income 425 Asset EBITDA 301 Asset EBIDTA Margin as % of 97% Rental Mall Rental Rate (Rs. pspm) 120 Mall Consumption (Rs. mn) 2,214 Mall Trading Density (Rs. pspm) 1,296 Mall Trading Occupancy (%) 95% 81
Slide 83: Phoenix Citadel Indore
Phoenix Citadel Indore (Rs. mn) Q4 FY23 Q4 FY22 YoY % FY23 FY22 YoY% Rental 163 - - 191 - - CAM & 91 - - 109 - - Others Total Income 254 - - 300 - - Asset EBITDA 153 - - 173 - - Asset EBIDTA Margin as % 94% - - 91% - - of Rental 82
Slide 84: Phoenix Citadel Indore
Phoenix Citadel Indore (Rs. mn) Q4 FY23 Rental 163 CAM & Others 91 Total Income 254 Asset EBITDA 153 Asset EBIDTA Margin as % of 94% Rental Mall Rental Rate (Rs. pspm) 79 Mall Consumption (Rs. mn) 596 Mall Trading Density (Rs. pspm) 510* Mall Trading Occupancy (%) 70%* *Represents Trading Density fo
Slide 85: Palladium Ahmedabad
Palladium Ahmedabad 26-Feb-23 (Rs. mn) to 31-Mar-23 Rental 29 CAM & Others 26 Total Income 55 Asset EBITDA 16 Asset EBIDTA Margin as % of 56% Rental Mall Rental Rate (Rs. pspm) 92 Mall Consumption (Rs. mn) 227 Mall Trading Density (Rs. pspm) 1,185* Mall Trading Occupancy (%) 43% *Represents Trading
Slide 86: Gross Debt across Subsidiaries as on 31st March 2023
Gross Debt across Subsidiaries as on 31st March 2023 PML Q3 FY23 Q4 FY23 Portfolio Status Asset Type SPV Asset Name Ownership (Rs. Mn) (Rs. Mn) (%) PML Standalone Phoenix Palladium, Mumbai 100.0% 5,461 5,234 Classic Mall Development Phoenix MarketCity, Chennai 100.0% 3,847 3,985 Vamona Developers Ph
Slide 87: 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/ Phoenix MarketCity Kurla marketcitykurla https://www.instagram.com/marketcitykurla/ Phoenix Palassio Lucknow phoenixpalassio http
Slide 88: Thank you
Thank you Varun Parwal Madhurima Kane Email: varun.p@phoenixmills.com Email: madhurima.kane@phoenixmills.com Website: https://www.thephoenixmills.com/investors 87