Phoenix Mills Ltd. · NSE:PHOENIXLTD
Phoenix Mills — The Phoenix Mills — Shareholder Meeting (September 2024)
32 slides from Phoenix Mills's shareholder meeting presentation, Sep 13, 2024
Slide 1: Cover letter to stock exchanges
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 September 13, 2024 BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers Exchan
Slide 2: 119th AGM Presentation
INSIGHT|FORESIGHT Pioneering the Future of Urban Spaces The Phoenix Mills Ltd. 119th AGM Presentation Phoenix Mall of Asia and 13th September 2024 Phoenix Asia Towers, Bangalore1
Slide 3: Developer of India's Iconic Mixed-Use Developments
Developer of India’s Iconic Mixed-Use Developments Phoenix MarketCity, Mumbai + Offices Phoenix Mall of Asia + Upcoming Asia Towers (Office) Phoenix Mall of the Millennium + Upcoming Millennium (Centrium, PPP and Art Guild House) Hebbal, Bangalore Towers (Office), Wakad, Pune Actual Phoenix Palladiu
Slide 4: Largest Retail Led Mixed-Use Portfolio in India's top cities
Largest Retail Led Mixed-Use Portfolio in India’s top cities 14 Million sq. ft. of operational mixed-use developments Retail Malls plus Commercial Offices ~11 million sq. ft. ~3 Million sq. ft. 3 Iconic Residential of Retail Malls Commercial Offices Projects Delivered Across 8 Cities Mumbai + Pune +
Slide 5: Representative of India's urban consumption basket
Representative of India's urban consumption basket Delivered growth in retailer consumption of >14% CAGR between FY13-24 across our retail portfolio Growth of 22% vs FY23 CAGR: 14% 113.3 92.5 63.2 69.3 25.7 FY13 FY18 FY20 FY23 FY24 Note: Data is in INR billion 4
Slide 6: Our Journey to creating Dominant Consumption Destinations
Our Journey to creating Dominant Consumption Destinations ~0.5 msft ~5.5 msft ~6.6 msft ~11.1 msft 1999 to 2007 Launch of HSP Planning/ development of Palladium Phoenix Palladium Ahmedabad PMC Chennai Phoenix Mall of Palladium Block, Phoenix United Phoenix the Millennium Mumbai Bareilly Palassio GLA
Slide 7: Phoenix Palassio Lucknow
Phoenix Palassio Lucknow The only mall delivered during the pandemic Photo shot at location 6
Slide 8: Phoenix Citadel Indore
Phoenix Citadel Indore The Retail destination of Madhya Pradesh Photo shot at location 7
Slide 9: Palladium Ahmedabad
Palladium Ahmedabad Gujarat’s first luxury shopping destination Photo shot at location Actual Photo 8
Slide 10: Phoenix Mall of the Millennium
Phoenix Mall of the Millennium Our Second City Center at Pune Indicative Render 9
Slide 11: Phoenix Mall Asia
Phoenix Mall Asia Our Second City Center at Bangalore Photo shot at location 10
Slide 12: Our portfolio today
Our portfolio today Segments 2006 2024 Retail < 0.5 msft ~22x ~11 msft Offices 0.3 msft ~10x ~3.0 msft* Hotel - 588 keys * Includes Phase 1 of Phoenix Asia Towers (Hebbal, Bangalore) of ~0.80 msft set to launch during 2024 11
Slide 13: Converting challenges to opportunities
Converting challenges to opportunities Focusing on increasing operating profits through the years and ignoring the noise Consolidated Annual EBITDA CAGR: ~28% 2013 – 2018 2020 – 2021 2008 Global Covid-19 Perceived disruption Financial Crisis Pandemic from E-Commerce 2,185 1,520 784 32 263 FY06 FY13
Slide 14: Strong operating and financial performance in FY24
Strong operating and financial performance in FY24 Rs. 3,978 Cr Rs. 2,177 Cr Rs. 1,152 cr FY24 Operating Revenue FY24 Operating EBITDA FY24 PAT* Up 51% vs FY23 Up 43% vs FY23 Up 62% vs FY23 *refers to PAT after minority interest & after other comprehensive income (adjusted for exceptional items 13
Slide 15: Prudently leveraged and poised for growth
Prudently leveraged and poised for growth FY23 FY24 Change Amount Rs. cr Net Debt*^ 2,282 2,157 - 125 Consolidated EBITDA# 1,519 2,177 + 658 Net Debt to EBITDA (x) ~1.50x ~0.99x - 34% *Does not include amount available in overdraft accounts ^ Includes Starboard which does not form part of PML Consol
Slide 16: Rewarding our shareholders
Rewarding our shareholders Rs. 5 per share 1:1 Progressively increasing Board has recommended issuance dividend payment of Bonus shares in the ratio of 1:1 15
Slide 17: Visibility on the next phase of growth
Visibility on the next phase of growth 16
Slide 18: Phoenix Grand Victoria Kolkata: East India's retail destination
Phoenix Grand Victoria Kolkata: East India’s retail destination Indicative Render GLA: ~1 msft
Slide 19: Surat – Our 2nd retail destination in Gujarat
Surat – Our 2nd retail destination in Gujarat Indicative Render GLA: ~1 msft
Slide 20: Expanding on office opportunity with growing demand
Expanding on office opportunity with growing demand Operational Commercial Offices: ~3 msft Under development Commercial Offices: ~ 4 msft Art Guild House, Phoenix Paragon Plaza, The Centrium at Kurla, Mumbai - ~1.20 msft* Project Rise, Lower Parel, Mumbai - Millennium Towers, Wakad, Pune- ~1.20 msf
Slide 21: Investing back into the core: Expansion of Phoenix Palladium
Investing back into the core Expansion of Phoenix Palladium • Current Retail GLA : ~0.9 msft • Retail GLA by 2027 : ~1.4 msft • Current Office GLA : ~0.01 msft Rise: • Office GLA by 2027-28 : 1.1+ msft Office + Retail The St. Regis, Mumbai Planned retail expansion Phoenix Palladium Mall 20
Slide 22: Project Rise – office-led mixed use project in Lower Parel
Project Rise – office-led mixed use project at our flagship development in Lower Parel, Mumbai Office GLA: ~1.1 msft Retail GLA: ~0.2 msft 21
Slide 23: Investing back into the core: Expansion of Phoenix MarketCity Bangalore
Investing back into the core Expansion of Phoenix MarketCity Bangalore Retail expansion GLA- ~0.20 msft and ~17 screen multiplex ISML Offices – GLA - ~1.10 msft Phase 1 GLA - ~0.40 msft Proposed Grand Hyatt Hotel Upto 400 Keys Existing Mall GLA - ~1 msft Indicative Render 22
Slide 24: Residential Project at Alipore, Kolkata
Residential Project at Alipore, Kolkata Saleable area: ~1.00 msft 23
Slide 25: The next phase of growth: Beyond 2027 – Target Cities
The next phase of growth Beyond 2027 – Target Cities Thane Coimbatore Chandigarh Hyderabad Navi NCR Goa Jaipur Mumbai Trivandrum Vishakapatnam Nagpur Cochin and Varanasi 24
Slide 26: Sustained Portfolio additions
Sustained Portfolio additions Land acquisitions over the past 18 months City Land size Development Timeline December Surat ~7.22 acres Retail 2022 ~Rs. 2,000 Cr Kolkata ~5.50 acres Residential Spent on land acquisitions in the last 18 months ~11.50 Under Thane acres planning ~39 acres Under Bangalor
Slide 27: Charting the growth roadmap: 2027 and beyond
Charting the growth roadmap: 2027 and beyond Segments 2023 2027 and beyond Portfolio visibility beyond Retail ~11 msft >14 msft 2027: Recent land parcels acquired: Commercial Offices ~3.0 msft* >7 msft Thane, Bengaluru: Under planning and design stage Hotels ~588 keys ~988 keys Coimbatore: ~1 msft o
Slide 28: Sustainability
Sustainability 27
Slide 29: Sustainability - Targets
Sustainability - Targets WRITE YOUR SUBTITLE HERE 50% 70%+ 100% of the portfolio of portfolio’s energy New buildings to be USGBC LEED requirement estimated to be USGBC to be met by using LEED Certified certified by 2027 renewable energy by 2027 28
Slide 30: CSR at Phoenix - Cherishing our Environment and Society
CSR at Phoenix - Cherishing our Environment and Society Contributing to India’s Most Prolific Water Conservation Initiative through: Education of Tribal Girls Support to Farmers 680+ CHECK DAMS BUILT 920+ 18 lakh+ VILLAGES IMPACTED LIVES TRANSFORMED Note: Above numbers are estimates as shared by Aak
Slide 31: Adding Pillars of Governance & Experience to the Board
Adding Pillars of Governance & Experience to the Board Mr. Atul Ruia Mr. Shishir Shrivastava Mr. Rajesh Kulkarni Ms. Rashmi Sen Chairman Managing Director Whole Time Director & Director Whole Time Director & COO – Projects Delivery - Retail 5 out of 9 Directors are Independent currently; 3 out of 9
Slide 32: Thank You
Thank You 31
The Phoenix Mills — Shareholder Meeting (September 2024) on 6ix