Phoenix Mills Ltd. · NSE:PHOENIXLTD
Phoenix Mills — The Phoenix Mills — Investor Presentation (March 2025)
42 slides from Phoenix Mills's investor presentation, Mar 24, 2025
Slide 1: Investors' Presentation 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 March 24, 2025 BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers Exchange P
Slide 2: The Phoenix Mills Limited Corporate Presentation March 2025
THE PHOENIX MILLS LIMITED Corporate Presentation March 2025 1
Slide 3: Developer of India's Iconic Mixed-Use Developments
Developer of India’s Iconic Mixed-Use Developments Phoenix MarketCity + Phoenix Mall of Asia + Phoenix Asia Towers (Offices) Phoenix Mall of the Millennium + Upcoming Millennium Centrium, PPP and Art Guild House (Offices), Mumbai Hebbal, Bangalore Towers (Offices), Wakad, Pune Actual Phoenix MarketC
Slide 4: Largest Retail Led Mixed-Use Portfolio in India's top cities
Largest Retail Led Mixed-Use Portfolio in India’s top cities Operational 14 Million sq. ft. of operational mixed-use developments Retail Malls plus Commercial Offices ~11.5 million sq. ~3 Million sq. ft. 3 Iconic Residential ft. of Retail Malls Commercial Offices Projects Delivered Across 8 Cities M
Slide 5: Our Journey to creating Dominant Consumption Destinations
Our Journey to creating Dominant Consumption Destinations 4
Slide 6: Phoenix MarketCity Pune – Launched June-2011
Phoenix MarketCity Pune – Launched June-2011 First Phase of Growth – 2011 to 2013 Photo shot at location 5
Slide 7: Phoenix MarketCity Bangalore – Launched October-2011
Phoenix MarketCity Bangalore – Launched October-2011 First Phase of Growth – 2011 to 2013 Photo shot at location 6
Slide 8: Phoenix MarketCity Mumbai – Launched November-2011
Phoenix MarketCity Mumbai – Launched November-2011 First Phase of Growth – 2011 to 2013 Phoenix MarketCity Mumbai (Retail) The Centrium Phoenix Paragon Plaza Art Guild House Offices Offices Offices Asset Class GLA (msft) Retail ~1.14 Office ~1.52 Parking ~1.20 Total ~3.86 Indicative Render 7
Slide 9: Phoenix MarketCity Chennai – Launched in January-2013
Phoenix MarketCity Chennai – Launched in January-2013 First Phase of Growth – 2011 to 2013 Photo shot at location Photo shot at location Indicative Render 8
Slide 10: Established as the 'Go-to' destination – The St. Regis, Mumbai
Established as the ‘Go-to’ destination – The St. Regis, Mumbai Photo shot at location Photo shot at location Photo shot at location Photo shot at location Photo shot at location 9
Slide 11: Reinvested Cash Flows to increase PML's ownership across assets
Reinvested Cash Flows to increase PML’s ownership across assets Progressive Stake Acquisition Development Name 2010 March 2017 Phoenix MarketCity, Mumbai 24% 100% Phoenix MarketCity, Pune 59% 100% Courtyard by Marriott, Agra 21% 100% Phoenix United – Lucknow, Bareilly 73% 100% Fountainhead, Pune 58%
Slide 12: Strategic Partnerships driving next leg of growth: PML CPP Investments Alliance
Strategic Partnerships driving next leg of growth: PML CPP Investments Alliance Photo shot at location Indicative Render Indicative Render ▪ Retail GLA: ~6 msft ▪ Offices GLA: ~5 msft Phoenix Marketcity Bangalore Phoenix Citadel, Rise (Office + Retail), ▪ ~400 keys Grand + Under-development offices
Slide 13: Strategic Partnerships driving next leg of growth: PML GIC Alliance
Strategic Partnerships driving next leg of growth: PML GIC Alliance Operational – Retail Portfolio Under Construction Indicative Render Render Render Photo shot at location Photo shot at location Retail at Surat; GLA - ~1 msft Phoenix MarketCity Pune; GLA - ~1.2 msft Phoenix MarketCity Mumbai; GLA -
Slide 14: Phoenix Palassio Lucknow
Phoenix Palassio Lucknow The only mall delivered during the pandemic Photo shot at location 13
Slide 15: Phoenix Citadel Indore
Phoenix Citadel Indore The Retail destination of Madhya Pradesh Photo shot at location 14
Slide 16: Palladium Ahmedabad
Palladium Ahmedabad Unveiling Gujarat’s newest luxury shopping destination Photo shot at location Actual Photo 15
Slide 17: Phoenix Mall of the Millennium
Phoenix Mall of the Millennium Our Second City Center at Pune Indicative Render 16
Slide 18: Phoenix Mall Asia
Phoenix Mall Asia Our Second City Center at Bangalore Photo shot at location 17
Slide 19: Investing back into the core: Adding Offices on top of Phoenix MarketCity Pune
Investing back into the core Adding Offices on top of Phoenix MarketCity Pune Phoenix MarketCity Pune + Fountainhead Towers Fountainhead Offices Towers 1, 2 and 3 ~0.83 msft GLA Existing Mall (LG + G + 2) ~1.19 msft GLA GLA is an estimate based on current plans and market/company norms and is subjec
Slide 20: Investing back into the core: Expansion of Phoenix Palladium
Investing back into the core Expansion of Phoenix Palladium • Current Retail GLA : ~1.1 msft Indicative Render • Retail GLA by 2027 : ~1.4 msft • Current Office GLA : ~0.01 msft • Office GLA by 2027-28 : 1.1+ msft Project Rise: Retail + Office Planned retail expansion The St. Regis, Mumbai Phoenix P
Slide 21: Investing back into the core: Expansion of Phoenix MarketCity Bangalore
Investing back into the core Expansion of Phoenix MarketCity Bangalore Retail expansion GLA- ~0.10 msft 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 20
Slide 22: Focus on Elevating Consumer Experiences at each Asset
Focus on Elevating Consumer Experiences at each Asset Events | Premiumization | Enhancing Assets Photo shot at location 21
Slide 23: Introducing Fan Parks at our newer assets
Introducing Fan Parks at our newer assets Phoenix Mall of Asia, Hebbal, Bangalore Photo shot at location 22
Slide 24: Sustained portfolio additions over the last 18 years
Sustained portfolio additions over the last 18 years… Segments 2006 2024 Retail < 0.5 msft ~22x 11.5 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. Construction of this asset is complete and OC is received. 23
Slide 25: Complemented by strong, prudent financial performance
… complemented by strong, prudent financial performance Rs. 2,177 Cr <1x 11% Operating Profit EBITDA (FY24): Net Debt to Annual EBITDA FY24 FY24 Return on Equity 68x of Rs. 32 Cr in FY06 24
Slide 26: Converting challenges to opportunities
Converting challenges to opportunities Focusing on increasing operating profits through the years and ignoring the noise 2013 – 2018 2020 – 2021 2008 Global Covid-19 Perceived disruption Financial Crisis Pandemic from E-Commerce 2,177 1,520 784 32 263 FY06 FY13 FY18 FY23 FY24 Note: PML Consolidated
Slide 27: Strong performance over the last decade
Strong performance over the last decade Consumption (Rs cr) Retail Rentals Rs cr) FY13 2,520 FY13 393 ~5x ~4x FY24 11,344 FY24 1,660 Consolidated Operational EBITDA (Rs cr) Operational FCF (post interest and taxes paid) (Rs cr) FY13 163 FY13 132 ~13x ~13x FY24 2,177 FY24 1,781 26
Slide 28: Prudently leveraged and strongly positioned for growth
Prudently leveraged and strongly positioned for growth 31-Mar-24 31-Dec-24 Change Amount Rs. cr Gross Debt^ 4,366 4,391 + 25 Net Debt^* 2,157 2,317 + 159 Net Debt to EBITDA^# ~0.98x ~1.07x ** - ^ Includes Starboard which does not form part of PML Consolidated financials # Consolidated group level EB
Slide 29: PML's credit rating upgraded to AA/Positive Outlook
PML’s credit rating upgraded to AA/Positive Outlook Phoenix Palladium , Mumbai Photo shot at location 28
Slide 30: Sustained Portfolio additions: land acquisitions over the past 2 years
Sustained Portfolio additions Land acquisitions over the past 2 years Dec-22 Feb-23 Nov-23 Apr-24 Aug-24 Sep-24 Chandigarh City Surat Kolkata Thane Bangalore Coimbatore Mohali Land Size ~7.2 acres ~5.5 acres ~11.5 acres ~6.6 acres ~9.0 acres ~13.1 acres Retail-led Under Retail-led Development Retail
Slide 31: Phoenix Grand Victoria, Alipore Kolkata
Phoenix Grand Victoria, Alipore Kolkata Indicative Render ~1 msft Retail GLA 2027 Expected Completion 30
Slide 32: Our second retail destination in Gujarat
Our second retail destination in Gujarat Indicative Render 1st Large Scale Mall in Surat ~1 msft Retail GLA 2027 Expected Completion 31
Slide 33: The new city-center lifestyle destination in Thane
The new city-center lifestyle destination in Thane Indicative Render A modern mixed-use development, designed for the global community ~11.5 Acres Land Located on Majiwada junction Phase 1 Retail: ~1.3 msft 32
Slide 34: Whitefield, Bengaluru: Acquired adjacent land to expand existing development
Whitefield, Bengaluru: Acquired adjacent land to expand, and densify, existing development 33
Slide 35: Building the first destination mall in Coimbatore
Building the first destination mall in Coimbatore ~9 Acres Land Parcel ~1 msft Potential Retail Leasable area ~Rs. 370 cr Purchase consideration 34
Slide 36: Building a retail-led, mixed-use destination in Chandigarh and Mohali
Building a retail-led, mixed-use destination, serving Chandigarh, Panchkula, Zirakpur, Mohali and adjoining areas 35
Slide 37: Charting the growth roadmap: 2027 and beyond
Charting the growth roadmap: 2027 and beyond Segments 2023 By 2027 By 2030 Adding to portfolio with Retail ~11 msft >14 msft recent acquisition: ➢ Thane: Retail-led mixed use development Commercial Offices ~3 msft* >7 msft ➢ Whitefield Bengaluru: Densification of existing operating mall Hotels ~588
Slide 38: Charting the growth roadmap: List of target cities
Charting the growth roadmap: 2027 and beyond List of target cities Chandigarh/ Thane Coimbatore Hyderabad Mohali Navi NCR Goa Jaipur Mumbai Trivandrum Vishakapatnam Nagpur Cochin and Varanasi 37
Slide 39: 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 38
Slide 40: 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 41: 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 & Whole Time Director & CEO - Projects Delivery and CEO - Malls Architecture 4 out of 8 Directors are Independent; 2 out of 8
Slide 42: Thank You
Thank You 41
The Phoenix Mills — Investor Presentation (March 2025) on 6ix