Phoenix Mills Ltd. · NSE:PHOENIXLTD
Phoenix Mills — The Phoenix Mills — Q2 FY25 Earnings Presentation
61 slides from Phoenix Mills's earnings presentation, Oct 25, 2024
Slide 1: Stock exchange filing cover letter
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 Date: October 25, 2024 BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers Exc
Slide 2: The Phoenix Mills Ltd. Investor Presentation Q2 and H1 FY25
Photo shot at location The Phoenix Mills Ltd. Investor Presentation Q2 and H1 FY25 1 Phoenix Palladium, Mumbai
Slide 3: Business Update, Business Performance, Financial Results, Annexure
Photo shot at location Business Update Business Performance Financial Results Annexure Phoenix Palassio 2
Slide 4: Q2 FY25 Consolidated Performance Overview
Q2 FY25 Consolidated Performance Overview Consolidated Rs. 918 cr Rs. 518 cr Operating revenue Operating EBITDA Up 5% vs Q2 FY24 Up 2% vs Q2 FY24 Excluding Residential business Rs. 870 cr Rs. 502 cr Operating revenue Operating EBITDA Up 22% vs Q2 FY24 Up 19% vs Q2 FY24 Concept Architect 3
Slide 5: H1 FY25 Consolidated Performance Overview
H1 FY25 Consolidated Performance Overview Consolidated Rs. 1,822 cr Rs. 1,049 cr Operating revenue Operating EBITDA Up 8% vs H1 FY24 Up 5% vs H1 FY24 Excluding Residential business Rs. 1,742 cr Rs. 1,027 cr Operating revenue Operating EBITDA Up 23% vs H1 FY24 Up 20% vs H1 FY24 Concept Architect 4
Slide 6: Business Performance - Retail
Photo shot at location Business Update Business Performance - Retail Financial Results Annexure Phoenix Palladium Mumbai 5
Slide 7: Q2 and H1 FY25 Retail Mall Business Overview
Q2 and H1 FY25 Retail Mall Business Overview 25% Growth in Consumption and 26% Growth in Rentals in H1 FY25 Q2 FY25 and H1 FY25 Consumption Consumption Growth Components Q2 FY25 and H1 FY25 Rentals Rental Growth Components 5% 24% 6% 25% 5% 22% 6% 26% H1 FY24 H1 FY25 ~Rs. 6,496 Cr Rs. 958 Cr Q2 FY25
Slide 8: Retail Mall Business Overview
Retail Mall Business Overview Existing New Malls Q2 FY25 operational malls – stabilization phase Q2 FY25 Q2 FY24 Q2 FY25 Q2 FY24 Q2 FY25 Q2 FY24 Particulars % Growth % Growth % Growth (Rs. cr) (Rs. cr) (Rs. cr) (Rs. cr) (Rs. cr) (Rs. cr) Consumption 3,279 2,640 24% 2,750 2,609 5% 529 31 Retail Renta
Slide 9: Q2 FY25 Retail consumption up by 24% over Q2 FY24
Q2 FY25 Retail consumption up by 24% over Q2 FY24 Q2 FY25 Consumption (Rs. cr) Growth -6% 0% 7% 3% 6% 13% 6% 7% 9% 72% NC NA over Q2 Strong ramp up in FY24 513 consumption in the 459 newly launched 428 386 malls 289 278 270 260 168 124 51 53 Phoenix PMC PMC Pune PMC & PMC Mumbai Phoenix PU Lucknow P
Slide 10: H1 FY25 Retail consumption up by 25% over H1 FY24
H1 FY25 Retail consumption up by 25% over H1 FY24 H1 FY25 Consumption (Rs. cr) Growth -4% -2% 5% 3% 9% 14% 6% 9% 14% 93% NC NA over H1 Strong ramp up in FY24 1,049 consumption in the 912 newly launched 836 759 malls 590 552 505 496 334 248 105 110 Phoenix PMC PMC Pune PMC & PMC Mumbai Phoenix PU Luc
Slide 11: Q2 FY25 - Consumption across discretionary wallet spend
Q2 FY25 - Consumption across entire spectrum of discretionary wallet spend On a like-to-like basis Consumption Contribution Trading Area Mix YoY Consumption Growth Fashion & Accessories 53% 60% 6% Electronics 11% 3% 3% Jewellery 14% 1% 33% Food & Beverages 10% 11% 0% FEC & Multiplex 4% 14% -15% Gour
Slide 12: H1 FY25 - Consumption across discretionary wallet spend
H1 FY25 - Consumption across entire spectrum of discretionary wallet spend On a like-to-like basis Consumption Contribution Trading Area Mix YoY Consumption Growth Fashion & Accessories 52% 58% 6% Electronics 12% 3% 3% Jewellery 13% 1% 27% Food & Beverages 10% 11% 2% FEC & Multiplex 4% 14% -11% Gour
Slide 13: Ramp-up in trading occupancy
Ramp-up in trading occupancy Leased occupancy 97% 97% Mar-24 Sep-24 Trading occupancy 88% 92% Mar-24 Sep-24 Growth in trading occupancy led by Palladium Ahmedabad 86% 94% Mar-24 Sep-24 Phoenix Mall of the Millennium 76% 87% Mar-24 Sep-24 Phoenix Mall of Asia 57% 78% Mar-24 Sep-24 Note: Occupancy exc
Slide 14: Q2 FY25 Retail Rental Income grew by 22% over Q2 FY24
Q2 FY25 Retail Rental Income grew by 22% over Q2 FY24 Q2 FY25 Q2 FY24 % growth over Name of Asset Retail Rental Income Retail Rental Income Q2 FY24 (Rs. cr) (Rs. cr) Phoenix Palladium Mumbai 95 94 2% Phoenix MarketCity Bangalore 50 51 -1% Phoenix MarketCity Pune 54 52 4% Phoenix MarketCity and Palla
Slide 15: Q2 FY25 Retail EBITDA grew by 22% over Q2 FY24
Q2 FY25 Retail EBITDA grew by 22% over Q2 FY24 Q2 FY25 Q2 FY24 % growth over Name of Asset Retail EBITDA Retail EBITDA Q2 FY24 (Rs. cr) (Rs. cr) Phoenix Palladium Mumbai 99 98 1% Phoenix MarketCity Bangalore 54 53 4% Phoenix MarketCity Pune 61 56 9% Phoenix MarketCity and Palladium Chennai 60 60 0%
Slide 16: H1 FY25 Retail Rental Income grew by 26% over H1 FY24
H1 FY25 Retail Rental Income grew by 26% over H1 FY24 H1 FY25 H1 FY24 % growth over Name of Asset Retail Rental Income Retail Rental Income H1 FY24 (Rs. cr) (Rs. cr) Phoenix Palladium Mumbai 193 190 2% Phoenix MarketCity Bangalore 100 101 0% Phoenix MarketCity Pune 107 103 4% Phoenix MarketCity and
Slide 17: H1 FY25 Retail EBITDA grew by 27% over H1 FY24
H1 FY25 Retail EBITDA grew by 27% over H1 FY24 H1 FY25 H1 FY24 % growth over Name of Asset Retail EBITDA Retail EBITDA H1 FY24 (Rs. cr) (Rs. cr) Phoenix Palladium Mumbai 201 199 1% Phoenix MarketCity Bangalore 111 104 6% Phoenix MarketCity Pune 119 110 8% Phoenix MarketCity and Palladium Chennai 122
Slide 18: Business Performance – Commercial
Photo shot at location Business Update Business Performance – Commercial Financial Results Annexure Phoenix Asia Towers Bangalore 17
Slide 19: Commercial office business overview
Commercial office business overview Operational assets: Mumbai, Pune WALE – Above 3 Years Total Income EBITDA H1 FY25 H1 FY25 Rs. 105 Cr Rs. 66 Cr 3 Years + Max tenure – 17% growth 31% growth 5 Years over H1 FY24 over H1 FY24 Industry agnostic front offices Gross MI NTT GROUP BAJAJ FINANCE ~5 msft L
Slide 20: Leasing and occupancy in the Commercial Office Portfolio
Leasing and occupancy in the Commercial Office Portfolio Net Leasable Area Leased Gross Rent Asset Location % area leased Area (msft) (msft) (psfpm)* Art Guild House Mumbai 0.63 0.55 87% 119 Phoenix Paragon Plaza Mumbai 0.31 0.16 51% 150 Centrium Mumbai 0.12 0.08 64% 114 Phoenix House Mumbai 0.09 0.
Slide 21: Q2 FY25 Commercial Offices Income stood at Rs. 54 cr
Q2 FY25 Commercial Offices Income stood at Rs. 54 cr, up 19% over Q2 FY24 EBITDA as Total Income (Rs. cr) EBITDA (Rs. cr) % of Total Income Operational Portfolio Q2 FY25 Q2 FY24 Growth (%) Q2 FY25 Q2 FY24 Growth (%) Q2 FY25 Q2 FY24 Art Guild House, Mumbai 24 20 20% 17 14 27% 73% 69% Phoenix Paragon
Slide 22: H1 FY25 Commercial Offices Income stood at Rs. 105 cr
H1 FY25 Commercial Offices Income stood at Rs. 105 cr, up 17% over H1 FY24 EBITDA as Total Income (Rs. cr) EBITDA (Rs. cr) % of Total Income Operational Portfolio H1 FY25 H1 FY24 Growth (%) H1 FY25 H1 FY24 Growth (%) H1 FY25 H1 FY24 Art Guild House, Mumbai 46 40 17% 34 26 28% 73% 67% Phoenix Paragon
Slide 23: Business Performance – Hospitality
Photo shot at location Business Update Business Performance – Hospitality Financial Results Annexure Koishii, The St. Regis, Mumbai 22
Slide 24: The St. Regis, Mumbai: Performance overview for Q2 and H1 FY25
The St. Regis, Mumbai: Performance overview for Q2 and H1 FY25 ARR (Rs.) RevPAR (Rs.) Occupancy 15% 7% 19% 11% Growth Growth Growth Growth 85% Q2 FY25; up 3 pps vs Q2 FY24 85% 15,040 17,320 15,767 16,875 12,303 14,694 12,895 14,311 H1 FY25 Q2 FY24 Q2 FY25 H1 FY24 H1 FY25 Q2 FY24 Q2 FY25 H1 FY24 H1 F
Slide 25: The St. Regis, Mumbai
The St. Regis, Mumbai Photo shot at location (Rs. cr) Q2 FY25 Q2 FY24 % growth H1 FY25 H1 FY24 % growth Revenue from Rooms 52 44 17% 100 92 8% Revenue from F&B and 57 47 21% 107 99 8% Banqueting Other Operating Income 10 11 -3% 20 22 -9% Total Income 118 102 17% 227 213 7% Operating EBITDA 52 45 17%
Slide 26: Courtyard by Marriott, Agra: Performance overview for Q2 and H1 FY25
Courtyard by Marriott, Agra: Performance overview for Q2 and H1 FY25 ARR (Rs.) RevPAR (Rs.) Occupancy 67% 9% 2% 5% 7% Growth Growth Growth De-Growth Q2 FY25 65% 4,196 4,569 4,303 4,375 2,902 3,044 3,030 2,826 H1 FY25 Q2 FY24 Q2 FY25 H1 FY24 H1 FY25 Q2 FY24 Q2 FY25 H1 FY24 H1 FY25 Q2 FY25 Revenue Mix
Slide 27: Courtyard by Marriott, Agra
Courtyard by Marriott, Agra Photo shot at location (Rs. cr) Q2 FY25 Q2 FY24 % growth H1 FY25 H1 FY24 % growth Revenue from Rooms 5.3 5.0 5% 10 10 -7% Revenue from F&B and 4.2 3.8 11% 8 9 -8% Banqueting Other Operating Income 0.5 0.5 -4% 1 1 -8% Total Income 9.9 9.3 7% 19 20 -7% Operating EBITDA 0.8
Slide 28: Business Performance – Residential
Indicative Render Business Update Business Performance – Residential Financial Results Annexure One Bangalore West 27
Slide 29: Residential Portfolio: Steady traction in demand for ready units
Residential Portfolio: Steady traction in demand for ready units ✓ Gross sales of ~Rs. 27 crores in Q2 FY25 and Rs. 78 cr in H1 FY25 ✓ Collections of ~Rs. 60 crores in Q2 FY25 and Rs. 125 cr in H1 FY25 Constructed Cumulative Cumulative Collections in Revenue recognized (Rs. cr) 1 Total Saleable Area
Slide 30: Financial Results
Photo shot at location Business Update Business Performance Financial Results Annexure Phoenix MarketCity Pune 29
Slide 31: Q2 FY25 Standalone EBITDA at Rs. 72 crores
Q2 FY25 Standalone EBITDA at Rs. 72 crores (Rs. cr) Q2 FY25 Q2 FY24 YoY% H1 FY25 H1 FY24 YoY% Income from operations 116 112 3% 234 230 2% Operating EBITDA 72 73 -2% 149 156 -4% EBITDA Margin (%) 63% 65% -3 pps 64% 68% -4 pps Other income 105 93 13% 111 99 12% Finance Cost 18 16 13% 35 32 8% Depreci
Slide 32: Q2 FY25 Consolidated EBITDA up 2% over Q2 FY24
Q2 FY25 Consolidated EBITDA up 2% over Q2 FY24 (Rs. cr) Q2 FY25 Q2 FY24 YoY% H1 FY25 H1 FY24 YoY% Income from operations 918 875 5% 1,822 1,686 8% Operating EBITDA 518 506 2% 1,049 998 5% EBITDA Margin (%) 56% 58% -1 pps 58% 59% -2 pps Other income 37 32 17% 75 61 24% Finance Cost 103 96 7% 206 192
Slide 33: Q2 and H1 FY25 Business-wise Consolidated P&L breakup
Q2 and H1 FY25 Business-wise Consolidated P&L breakup (Rs. cr) Q2 FY25 Q2 FY24 YoY% H1 FY25 H1 FY24 YoY% Operating Revenue 918 875 5% 1,822 1,686 8% Less: Residential at Bangalore 48 160 -70% 80 268 -70% Revenue excl. residential business 870 715 22% 1,742 1,418 23% Operating EBITDA 518 506 2% 1,049
Slide 34: Group-level Debt and Cash position as on 30th September 2024
Group-level Debt and Cash position as on 30th September 2024 vs. 31st March 2024 31-Mar-24 30-Sep-24 Change Amount Rs. cr Liquidity (Bank balance + 2,209 1,974 - 235 Investments + DSRA)*^ Gross Debt 4,366 4,379 + 13 Net Debt 2,157 2,405 + 248 Net Debt to EBITDA ~1.0x ~1.1x + 16% *Does not include am
Slide 35: PML-level Debt and Cash position as on 30th September 2024
PML-level Debt and Cash position as on 30th September 2024 vs. 31st March 2024 31-Mar-24 30-Sep-24 Change Amount Rs. cr Liquidity (Bank balance + 1,722 1,628 - 94 Investments + DSRA)*^ Gross Debt 3,281 3,299 + 18 Net Debt 1,560 1,672 + 112 *Does not include amount available in overdraft accounts ^ I
Slide 36: Average cost of debt in Sep-24 down to 8.67%
Average cost of debt in Sep-24 down to 8.67% Effective cost of debt (%) 9.19% 8.81% 8.74% 8.79% 8.67% 8.17% 7.30% Spread: 217 bps Spread: 479 bps 6.50% 6.50% 6.50% 6.50% 4.40% 4.00% 4.00% Mar-20 Mar-21 Mar-22 Mar-23 Mar-24 Jun-24 Sep-24 Blended PML Avg.Avg. costCost of Debt of debt (%) (%) RBI Repo
Slide 37: PML Consolidated Cashflow – H1 FY25
PML Consolidated Cashflow – H1 FY25 Period ended Particulars 30-Sep-24 Cash Flow from Operating Activities Operating cash flow before changes in Working Capital 1,043 Add: Changes in working capital 112 Less: Tax Paid -155 Net Cash Generated from Operations (A) 1,000 Cash Flow from Investing Activit
Slide 38: Operating cash flow in Q2 FY25
Operating cash flow in Q2 FY25 Q2 FY25 Q2 FY24 % Change Amount in Rs. cr Net cash from operating activities 486 515 - 6% Less: Interest paid -105 -83 27% Operating free cash flow 380 432 - 12% Contribution to Operating free cash flow from Retail, Offices and Hotels 378 305 + 24% Residential 3 127 -
Slide 39: Sustained Portfolio additions: Land acquisitions since December 2022
Sustained Portfolio additions Land acquisitions since December 2022 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 R
Slide 40: Our second retail destination in Gujarat: Surat
Our second retail destination in Gujarat Indicative Render 1st Large Scale Mall in Surat ~1 msft Retail GLA 2027 Expected Completion 39
Slide 41: The new city-center lifestyle destination in Thane
The new city-center lifestyle destination in Thane A modern mixed-use development, designed to serve the global community ~11.5 Acres Land Located on Majiwada junction Phase 1 Retail: ~1.2 – 1.5 msft 40
Slide 42: Whitefield, Bengaluru: Acquired adjacent land to expand existing development
Whitefield, Bengaluru: Acquired adjacent land to expand, and densify, existing development 41
Slide 43: 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 42
Slide 44: Building a retail-led, mixed-use destination in Chandigarh region
Building a retail-led, mixed-use destination, serving Chandigarh, Panchkula, Zirakpur, Mohali and adjoining areas 43
Slide 45: Charting Growth Roadmap: 2027 and beyond
Charting 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 ~3.0 msft* >7 msft ➢ Whitefield Bengaluru: Densification of existing operating mall Hotels ~588 ke
Slide 46: Annexure
Photo shot at location Business Update Business Performance Financial Results Annexure Phoenix United Lucknow 45
Slide 47: Phoenix Palladium Mumbai
Phoenix Palladium Mumbai (Rs. cr) Q2 FY25 Q2 FY24 % growth H1 FY25 H1 FY24 % growth Rental 95 94 2% 193 190 2% CAM & Others 20 18 11% 41 37 10% Total Income 115 112 3% 234 227 3% Asset EBITDA 99 98 1% 201 199 1% Asset EBIDTA 104% 104% -1 pps 105% 105% 0 pps as % of Rental PML Standalone 72 73 -2% 14
Slide 48: Phoenix MarketCity Bangalore
Phoenix MarketCity Bangalore Q2 Q2 % H1 H1 % (Rs. cr) FY25 FY24 growth FY25 FY24 growth Rental 50 51 -1% 100 101 0% CAM & Others 22 18 24% 46 35 31% Total Income 72 69 5% 146 136 8% Asset EBITDA 54 53 4% 111 104 6% Asset EBIDTA 109% 104% 5 pps 110% 104% 7 pps as % of Rental Rental Rate 174 168 3% 17
Slide 49: Phoenix MarketCity Pune
Phoenix MarketCity Pune Q2 Q2 % H1 H1 % (Rs. cr) FY25 FY24 growth FY25 FY24 growth Rental 54 52 4% 107 103 4% CAM & Others 24 21 15% 48 41 16% Total Income 78 73 7% 155 145 7% Asset EBITDA 61 56 9% 119 110 8% Asset EBIDTA 112% 107% 5 pps 111% 107% 5 pps as % of Rental Rental Rate 157 153 3% 157 154
Slide 50: Phoenix MarketCity & Palladium Chennai
Phoenix MarketCity & Palladium Chennai Q2 Q2 % H1 H1 % (Rs. cr) FY25 FY24 growth FY25 FY24 growth Rental 55 53 5% 111 104 7% CAM & Others 29 28 4% 60 56 7% Total Income 84 81 5% 171 160 7% Asset EBITDA 60 60 0% 122 117 4% Asset EBIDTA 109% 115% -6 pps 110% 113% -3 pps as % of Rental Rental Rate 169
Slide 51: Phoenix MarketCity Mumbai
Phoenix MarketCity Mumbai Q2 Q2 % H1 H1 % (Rs. cr) FY25 FY24 growth FY25 FY24 growth Rental 41 38 8% 82 76 9% CAM & Others 24 22 10% 48 43 12% Total Income 65 60 8% 131 119 10% Asset EBITDA 46 43 7% 93 84 11% Asset EBIDTA 112% 113% -1 pps 113% 111% 2 pps as % of Rental Rental Rate 128 119 7% 128 119
Slide 52: Phoenix Palassio Lucknow
Phoenix Palassio Lucknow Q2 Q2 % H1 H1 % (Rs. cr) FY25 FY24 growth FY25 FY24 growth Rental 35 32 7% 69 63 9% CAM & Others 18 15 26% 36 27 33% Total Income 53 47 13% 105 90 16% Asset EBITDA 36 35 2% 72 67 8% Asset EBIDTA 103% 109% -6 pps 105% 106% -1 pps as % of Rental Rental Rate 131 125 5% 130 122
Slide 53: Phoenix United Lucknow
Phoenix United Lucknow Q2 Q2 % H1 H1 % (Rs. cr) FY25 FY24 growth FY25 FY24 growth Rental 8 9 -1% 17 17 -1% CAM & Others 6 5 24% 11 9 26% Total Income 14 13 7% 28 26 8% Asset EBITDA 8 9 -4% 17 17 1% Asset EBIDTA 98% 101% -3 pps 98% 96% 2 pps as % of Rental Rental Rate 92 88 5% 94 87 9% (Rs. pspm) Con
Slide 54: Phoenix United Bareilly
Phoenix United Bareilly Q2 Q2 % H1 H1 % (Rs. cr) FY25 FY24 growth FY25 FY24 growth Rental 6 6 -1% 12 12 2% CAM & Others 5 3 46% 10 7 50% Total Income 11 10 16% 22 19 19% Asset EBITDA 6 6 1% 13 12 4% Asset EBIDTA 99% 97% 2 pps 102% 99% 2 pps as % of Rental Rental Rate 73 70 4% 73 67 8% (Rs. pspm) Con
Slide 55: Phoenix Citadel, Indore
Phoenix Citadel, Indore Q2 Q2 % H1 H1 % (Rs. cr) FY25 FY24 growth FY25 FY24 growth Rental 25 24 2% 48 47 2% CAM & Others 16 13 16% 31 25 25% Total Income 40 38 7% 79 72 10% Asset EBITDA 25 23 9% 47 47 0% Asset EBIDTA 101% 94% 7 pps 97% 99% -2 pps as % of Rental Rental Rate 86 85 1% 84 85 -1% (Rs. ps
Slide 56: Palladium Ahmedabad
Palladium Ahmedabad Q2 Q2 % H1 H1 % (Rs. cr) FY25 FY24 growth FY25 FY24 growth Rental 29 22 31% 57 41 39% CAM & Others 15 13 18% 31 23 37% Total Income 44 35 26% 88 64 38% Asset EBITDA 27 21 33% 55 34 61% Asset EBIDTA 94% 92% 2 pps 96% 83% 13 pps as % of Rental Rental Rate 142 137 3% 145 137 6% (Rs.
Slide 57: Phoenix Mall of the Millennium
Phoenix Mall of the Millennium (Rs. cr) Q2 FY25 H1 FY25 Rental 36 73 CAM & Others 19 38 Total Income 55 111 Asset EBITDA 32 69 Asset EBIDTA 91% 94% as % of Rental Rental Rate 204 171 (Rs. pspm) Consumption 270 505 (Rs. cr) Trading Density 1,431 1,390 (Rs. pspm) Trading 93% 86% Occupancy (%)* Note: R
Slide 58: Phoenix Mall of Asia
Phoenix Mall of Asia (Rs. cr) Q2 FY25 H1 FY25 Rental 40 88 CAM & Others 22 45 Total Income 62 132 Asset EBITDA 41 92 Asset EBIDTA 102% 105% as % of Rental Rental Rate 242 213 (Rs. pspm) Consumption 260 496 (Rs. cr) Trading Density 1,415 1,391 (Rs. pspm) Trading 74% 72% Occupancy (%)* Note: Reported
Slide 59: Gross Debt across Subsidiaries as on 30th September 2024
Gross Debt across Subsidiaries as on 30th September 2024 PML Ownership Q1 FY25 Q2 FY25 Status Asset Type SPV Asset Name (%) (Rs. Cr) (Rs. Cr) The Phoenix Mills Ltd. (Standalone) Phoenix Palladium, Mumbai 100.0% 709 780 Classic Mall Development Phoenix MarketCity, Chennai 100.0% 420 439 Vamona Develo
Slide 60: 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.instagra
Slide 61: Thank you
Thank you Website: https://www.thephoenixmills.com/investors Linkedin: The Phoenix Mills Limited 60