Phoenix Mills Ltd. · NSE:PHOENIXLTD
Phoenix Mills — The Phoenix Mills — Investor Presentation (August 2024)
39 slides from Phoenix Mills's investor presentation, Aug 11, 2024
Slide 1: Cover letter to stock exchanges: Investors' 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 August 11, 2024 BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers Exchange
Slide 2: The Phoenix Mills Limited Corporate Presentation August 2024
THE PHOENIX MILLS LIMITED Corporate Presentation August 2024 1
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 Operational 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 Mum
Slide 5: The Journey – From 2006 to today
The Journey – From 2006 to today 4
Slide 6: Our Journey to creating Dominant Consumption Destinations
Our Journey to creating Dominant Consumption Destinations From initiating the first transformation of the Mill to Mall at Mumbai in 1999 with the launch of Phoenix Palladium, to becoming a developer of dominant consumption, city center destinations 1999 to 2007 Launch of HSP Planning/ development of
Slide 7: Phoenix MarketCity Pune – Launched June-2011
Phoenix MarketCity Pune – Launched June-2011 First Phase of Growth – 2011 to 2013 Photo shot at location 6
Slide 8: Phoenix MarketCity Bangalore – Launched October-2011
Phoenix MarketCity Bangalore – Launched October-2011 First Phase of Growth – 2011 to 2013 Photo shot at location 7
Slide 9: 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 8
Slide 10: 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 9
Slide 11: Established as the 'Go-to' destination – The St. Regis, Mumbai
Established as the ‘Go-to’ destination – The St. Regis, Mumbai 10
Slide 12: 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 13: Strategic Partnerships: PML CPP Investments Alliance
Strategic Partnerships driving next leg of growth: PML CPP Investments Alliance ▪ Retail GLA: ~5.8 msft ▪ Offices GLA: ~4.1 msft Phoenix Marketcity Bangalore Phoenix Citadel, Rise (Office + Retail), + Under-development offices Indore Mumbai ▪ ~400 keys Grand + hotel & Retail expansion Hyatt hotel Ma
Slide 14: Strategic Partnerships: PML GIC Alliance
Strategic Partnerships driving next leg of growth: PML GIC Alliance Operational – Retail Portfolio Under Construction Render Render Phoenix MarketCity Pune; GLA - ~1.2 msft Phoenix MarketCity Mumbai; GLA - ~1.1 msft Retail at Surat; GLA - ~1 msft Acquired in 2022 Operational – Commercial Office Port
Slide 15: Raised equity of ~Rs. 5,000 Cr between Aug-20 to Nov-21
Raised equity of ~Rs. 5,000 Cr between Aug-20 to Nov-21 Qualified Institutional August 2020 Placement (QIP) JV expansion with CPPIB ~Rs. 5,000 Cr New Retail Platform with GIC November 2021 14
Slide 16: Phoenix Palassio Lucknow
Phoenix Palassio Lucknow The only mall delivered during the pandemic Photo shot at location 15
Slide 17: Phoenix Citadel Indore
Phoenix Citadel Indore The Retail destination of Madhya Pradesh Actual Photo 16
Slide 18: Palladium Ahmedabad
Palladium Ahmedabad Unveiling Gujarat’s newest luxury shopping destination Actual Photo Actual Photo 17
Slide 19: Phoenix Mall of the Millennium
Phoenix Mall of the Millennium Our Second City Center at Pune Indicative Render 18
Slide 20: Phoenix Mall Asia
Phoenix Mall Asia Our Second City Center at Bangalore Actual Photo 19
Slide 21: City Center Developments – From Canvas to Creation
City Center Developments – From Canvas to Creation… Establishing as Planning & the ‘Go to’ Densification Acquisition Construction Approvals destination & Enhancements Asset Development Timeline – ~7 – 10 years 20
Slide 22: Investing back into the core: Offices on Phoenix MarketCity Pune
Investing back into the core Adding Offices on top of Phoenix MarketCity Pune Indicative render 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 n
Slide 23: 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 22
Slide 24: 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 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 23
Slide 25: Focus on Elevating Consumer Experiences at each Asset
Focus on Elevating Consumer Experiences at each Asset Events | Premiumization | Enhancing Assets 24
Slide 26: Introducing Fan Parks at our newer assets
Introducing Fan Parks at our newer assets Phoenix Mall of the Millennium, Wakad, Pune 25
Slide 27: Introducing Fan Parks at our newer assets
Introducing Fan Parks at our newer assets Phoenix Mall of Asia, Hebbal, Bangalore 26
Slide 28: Sustained portfolio additions over the last 18 years
Sustained portfolio additions over the last 18 years… Segments 2006 2023 Retail < 0.5 msft ~22x 11.1 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 27
Slide 29: Complemented by strong, prudent financial performance
… complemented by strong, prudent financial performance Rs. 2,185 Cr <1x 12% Operating Profit EBITDA (FY24): Net Debt to Annual EBITDA FY24 FY24 Return on Equity 68x of Rs. 32 Cr in FY06 28
Slide 30: 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 2,185 FY24 1,781 29
Slide 31: 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 2,185 1,520 784 32 263 FY06 FY13 FY18 FY23 FY24 Note: PML Consolidated
Slide 32: Strong growth in cash flow
Strong growth in cash flow Operational FCF (post interest and taxes paid) (Rs cr) Net Debt (Rs cr) 2,157 1,781 1,404 533 363 132 FY13 FY17 FY20 FY23 FY24 Mar-24 31
Slide 33: Charting the growth roadmap: 2027 and beyond
Charting the growth roadmap: 2027 and beyond Segments 2023 2027 Retail ~11 msft >14 msft Commercial Offices ~3.0 msft* >7 msft Hotels ~588 keys ~988 keys Residential ~3.5 msft ~4.5 msft Portfolio visibility beyond 2027: Recent land parcels acquired in Thane, Bengaluru and Coimbatore under planning a
Slide 34: Charting the growth roadmap: List of target cities
Charting the growth roadmap: 2027 and beyond List of target cities Thane Coimbatore Chandigarh Hyderabad Navi NCR Goa Jaipur Mumbai Trivandrum Vishakapatnam Nagpur Cochin and Varanasi 33
Slide 35: Sustainability Development
Sustainability Development 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 34
Slide 36: Sustainability Development - Progress during FY24
Sustainability Development - Progress during FY24 WRITE YOUR SUBTITLE HERE USGBC LEED Certification FY2023 FY2024 ~1 msft ~3.4 msft Phoenix Citadel Phoenix Citadel Phoenix Mall of Asia Phoenix Mall of the Millennium USGBC LEED Pre-Certification FY2023 FY2024 ~1.1 msft ~1.5 msft Project Rise, Mumbai
Slide 37: 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 38: 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 39: Thank You
THANK YOU 38
The Phoenix Mills — Investor Presentation (August 2024) on 6ix