Phoenix Mills Ltd. · NSE:PHOENIXLTD
Phoenix Mills — The Phoenix Mills — Investor Presentation (August 2021)
19 slides from Phoenix Mills's investor presentation, Aug 24, 2021
Slide 1: Exchange filing cover letter for corporate 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 Date: August 24, 2021 To, BSE Limited. National Stock Exchange of India Limited. Phiroze Jeejeebhoy Towe
Slide 2: The Phoenix Mills Ltd. Corporate Presentation – August 2021
The Phoenix Mills Ltd. Corporate Presentation – August 2021 1 Phoenix Palassio, Lucknow
Slide 3: Developer of India's Iconic Retail-led Mixed Use Developments
Developer of India’s Iconic Retail-led Mixed Use Developments Phoenix MarketCity, Mumbai + Phoenix Palladium + The St Regis, Phoenix Millennium, Pune + Offices Offices (Centrium, PPP and Art Guild House) Mumbai + Offices + Upcoming Project Rise Phoenix MarketCity, Bangalore + Offices + Phoenix Marke
Slide 4: Diversified portfolio across asset class
Diversified portfolio across asset class Retail Commercial Hospitality Residential Operational Operational The St. Regis, Mumbai Total Saleable + Courtyard by Marriott, Agra Retail Spaces GLA Office Spaces GLA Area ~7 ~1.6 588 ~4 msf msf keys msf Under-development & Under-development & Under-plannin
Slide 5: Raised equity capital of ~Rs. 3,000 cr in months
Raised equity capital of ~Rs. 3,000 cr in 12 months… Qualified Institutional Placement (QIP) August 2020 ~Rs. 1,100 cr New JV with May 2021 ~Rs. 384 cr CPPIB for Kolkata 49% stake for CPPIB Equity Infusion in existing retail platform May 2021 ~Rs. 392 cr CPPIB’s share of Commitment, tranche 1 with C
Slide 6: Optimizing cost of debt and reducing gross debt levels
… while optimizing cost of debt and reducing gross debt levels … Effective cost of debt (%) Gross Debt (Rs. cr) 9.38% 9.19% 4,573 4,547 4,487 8.17% 4,357 7.90% Mar-19 Mar-20 Mar-21 Jun-21 Mar' 19 Mar' 20 Mar' 21 Jun' 21 • Average cost of debt reduced from 9.38% in March 2019 to 7.90% in June 2021 by
Slide 7: Capital autonomy: liquidity, gross debt and net debt
… in order to give us the necessary capital autonomy Group Level PML Share Liquidity (Bank balance Rs. 1,662 cr Rs. 1,551 cr + Investments + DSRA) Gross Debt Rs. 4,357 cr Rs. 3,237 cr Net Debt Rs. 2,694 cr Rs. 1,686 cr *Note: 1. As of June 30, 2021 2. Does not include funds of Rs. 689 cr parked in o
Slide 8: Delivery timelines for under construction assets on track
… to keep Delivery timelines for Under Construction Asset on Track Phoenix Millennium, Pune Phoenix Mall of Asia, Bangalore Phoenix Citadel, Indore Palladium, Ahmedabad • Retail GLA ~1.2 msft • Retail GLA ~1.2 msft • Ahmedabad’s very • Retail GLA ~1.0 msft under construction under construction own l
Slide 9: Continue planning for future marquee developments
… and continue planning for future marquee developments
Slide 10: Under Planning – Project Rise at Lower Parel, Mumbai
Under Planning – Project Rise at Lower Parel, Mumbai • ~ 1 msft of offices and ~ 0.2 msft of retail development • Retail to be operational in FY25 and offices in FY26 • Approvals underway, Commencement Certificate (CC) received. • State of the art development which will complement the flagship prope
Slide 11: Under Planning – Densification at Phoenix Marketcity Bangalore
Under Planning – Densification at Phoenix Marketcity Bangalore Proposed Office 3rd and 4th Retail Tower 1 - B Wing expansion ~0.35 msft GLA ~0.31 msft GLA Proposed Office Tower 1 –A Wing ~0.37 msft GLA Proposed Office Tower 2 ~0.33 msft GLA Proposed Grand Hyatt Hotel ~300 keys Existing Mall GLA is a
Slide 12: Expansion by densification of mixed use developments
Expansion by densification of mixed use developments Under Development / Planning Offices Location GLA* (msft) Fountainhead T3 (awaiting OC) Pune ~0.41 Office portfolio to grow from 1.56 msft to Phoenix Millennium, Wakad – Office Pune ~0.6 ~6.2 msft in 4 years Palladium Chennai – Office Chennai ~0.4
Slide 13: Completed Fountainhead Office Towers at Phoenix Marketcity Pune
Completed Fountainhead Office Towers at Phoenix Marketcity Pune Offices Fountainhead Tower 1 ~0.17 msft GLA Offices Fountainhead Tower 3 ~0.41 msft GLA Offices Fountainhead Tower 2 ~0.25 msft GLA 3rd Floor Retail ~0.08 msft GLA Existing Mall (LG + G + 2) ~1.1 msft GLA GLA is an estimate based on cur
Slide 14: Gross Leasable Area mix in Retail and Commercial Segments
Gross Leasable Area (GLA mix) in Retail and Commercial Segments FY 21 FY 26 Retail 6.9 msf 1.9x 13.0 msf Commercial 1.6 msf 3.9x 6.2 msf Robust growth trajectory to solidify leadership position in mixed use developments in India Note: PMC Bangalore 0.3 mn sq. ft. retail and Chennai Commercial 0.4 mn
Slide 15: Target Cities of Interest
Target Cities of Interest 7.48 acres of land acquired in Feb 2021 Kolkata Chandigarh Gurgaon Surat Hyderabad Mumbai / Navi Mumbai Chennai Jaipur Greenfield/brownfield retail led development opportunities in key catchments of leading cities in India 14
Slide 16: What sets us apart?
What sets us apart? Superior Asset Operation Robust Execution Dominant Consumption Bandwidth Hubs Selective Prudent Capital Opportunities Value Structure Creation
Slide 17: The Phoenix Mills – Best Play on Indian Urban Consumption
The Phoenix Mills – Best Play on Indian Urban Consumption India – The last under-penetrated retail market with strong demographics & significant growth potential One of India's largest mall owner and operator Strong operational performance: 7-yr retail consumption CAGR of 15% and rental income
Slide 18: Consumption in July 2021
Consumption in July 2021 July 2021 Consumption (in Rs. cr ) As % of July, 2019* 87% 64% NA 86% 104% As % of Mar, 2021* 100% 97% 130% 112% 107% Operational Days 27 31 22 22 22 78 63 42 14 11 PMC Bangalore PMC & Palladium Chennai Phoenix Palassio PU Lucknow PU Bareilly • The pace of recovery in consum
Slide 19: Thank you
Thank you Website: https://www.thephoenixmills.com/investors 18
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