Phoenix Mills Ltd. · NSE:PHOENIXLTD
Phoenix Mills — The Phoenix Mills — Q2 FY24 Earnings Presentation
72 slides from Phoenix Mills's earnings presentation, Nov 9, 2023
Slide 1: Revised Investors' Presentation filing letter to 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 November 09, 2023 BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers Exchang
Slide 2: The Phoenix Mills Ltd. Investor Presentation Q2 and H1 FY24
Phoenix Mall of Asia, Hebbal, Bengaluru Retail GLA: ~1.20 msft Launched - October 2023 The Phoenix Mills Ltd. Investor Presentation Q2 and H1 FY24 1
Slide 3: Business Update, Business Performance, Financial Results, Annexure
Photo shot at location Business Update Business Performance Financial Results Annexure Phoenix Citadel Indore 2
Slide 4: The Largest Retail-led Mixed-use development in Bengaluru
Phoenix Mall of Asia, Hebbal, Bengaluru: Launched on 27th October 2023 Photo shot at location The Largest Retail-led Mixed-use development in Bengaluru 3
Slide 5: Phoenix Mall of Asia, Hebbal: The New Age Retail Destination
Phoenix Mall of Asia, Hebbal, Bengaluru: The New Age Retail Destination Photo shot at location • 440+ brands, with 160+ International labels and 50+ Debut Brands with a wide array of luxury brands • Country’s largest international luxury watch cluster featuring over 14 watch brands • 14 screen INOX
Slide 6: Phoenix Mall of Asia: Luxe Atria LED digital display
Phoenix Mall of Asia, Hebbal, Bengaluru: Luxe Atria – a transcendent LED digital display zone Photo shot at location Indicative Render Photo shot at location 5
Slide 7: Phoenix Mall of Asia: Eden Arcadia
Phoenix Mall of Asia , Hebbal, Bengaluru: Eden Arcadia – Mystical Gateway through a Digital Forest Photo shot at location ~94% Leased Occupancy October 23 ~183 Stores operational in October 2023 ~43% Trading Occupancy October 23 6
Slide 8: Phoenix Mall of the Millennium, Wakad, Pune: Opened doors
Phoenix Mall of the Millennium, Wakad, Pune: Opened doors on 01-Sep-23 Photo shot at location • Over 350 National and International brands • Entertainment Zone of over 1 lakh sq. ft. with various attractions like Fan Park, Time Zone, and FunCity etc. • 14 screen INOX multiplex • Over 75 dining optio
Slide 9: Phoenix Mall of the Millennium: Interior Shots
Phoenix Mall of the Millennium, Wakad, Pune: Interior Shots Photo shot at location Photo shot at location Photo shot at location 8
Slide 10: Phoenix Mall of the Millennium: Interior Shots
Phoenix Mall of the Millennium, Wakad, Pune: Interior Shots Photo shot at location Photo shot at location 9
Slide 11: Phoenix Mall of the Millennium: Interior Shots
Phoenix Mall of the Millennium, Wakad, Pune: Interior Shots Photo shot at location Photo shot at location 10
Slide 12: Phoenix Mall of the Millennium: Performance Update
Phoenix Mall of the Millennium, Wakad, Pune: Performance Update No. of stores operational Ramp up in Trading Occupancy (%) 177 50% 153 44% Sep-23 Oct-23 Photo shot at location Sep-23 Oct-23 11
Slide 13: Palladium Ahmedabad: Performance Update
Palladium Ahmedabad: Performance Update Photo shot at location Ramp up in Trading Occupancy 77% 74% 60% 43% 32% Feb-23* Mar-23 Jun-23 Sep-23 Oct-23 *Operations commenced on 26-Feb-23 12
Slide 14: Phoenix Citadel Indore: Performance Update
Phoenix Citadel Indore: Performance Update Ramp up in Trading Occupancy 89% 90% 86% 70% 42% Dec-22* Mar-23 Jun-23 Sep-23 Oct-23 Photo shot at location Actualcommenced *Operations Photo on 01-Dec-22 13
Slide 15: Phoenix Grand Victoria, Alipore Kolkata
Phoenix Grand Victoria, Alipore Kolkata: East India’s retail destination ✓ Retail GLA: ~1.00 msft ✓ Excavation & Foundation work under progress Indicative Render Concept Architect – Callison 14
Slide 16: Update on other retail destinations
Update on other retail destinations Surat – our 2nd retail Retail expansion at destination in Gujarat Phoenix Palladium, Mumbai Project Status Project Status ✓ Retail GLA: ~1.00 msft ✓ Retail expansion block opposite PVR ✓ Land acquired in December 2022 ✓ Retail GLA: ~0.25 msft ✓ Construction to com
Slide 17: Business Performance - Retail
Photo shot at location Business Update Business Performance - Retail Financial Results Annexure Phoenix Palladium Mumbai 16
Slide 18: Retail Consumption Overview
Retail Consumption Overview Double Digit Growth Q2 FY’24 and H1 FY’24 Consumption Consumption Growth Components Q2 FY’24 and H1 FY’24 Rentals Rental Growth Components 10% 20% 10% 19% 8% 25% 6% 21% H1 FY’24 H1 FY’24 ~Rs. 5,200 Cr Rs. 769 Cr Q2 FY’24 Q2 FY’24 ~Rs. 2,600 Cr Like-to-like Rs. 392 Cr Like
Slide 19: Retail consumption in Q2 FY24 grew by 20% over Q2 FY23
Retail consumption in Q2 FY24 grew by 20% over Q2 FY23 Q2 FY24 Consumption (Rs. Cr) Growth 11% 9% 4% 5% 11% 22% -1% 22% NA NA NA over Q2 FY23 545 461 400 376 271 246 114 98 48 50 31 Phoenix PMC PMC Pune PMC & PMC Mumbai Phoenix PU Lucknow PU Bareilly Phoenix Palladium Phoenix Mall Palladium Bangalor
Slide 20: Retail consumption in H1 FY24 grew by 19% over H1 FY23
Retail consumption in H1 FY24 grew by 19% over H1 FY23 H1 FY24 Consumption (Rs. Cr) Growth 8% 9% 7% 6% 12% 17% -5% 18% NA NA NA over H1 FY23 1,091 935 800 739 540 486 218 173 99 101 31 Phoenix PMC PMC Pune PMC & PMC Mumbai Phoenix PU Lucknow PU Bareilly Phoenix Palladium Phoenix Mall Palladium Banga
Slide 21: H1 FY24 consumption across discretionary wallet spend
H1 FY24 - Consumption across entire spectrum of discretionary wallet spend, on a like-to-like basis Consumption Contribution Trading Area Mix Growth H1 FY24 vs H1 FY23 Fashion & Accessories 50% 53% 7% Electronics 12% 4% -4% Jewellery 12% 1% 25% Food & Beverages 11% 10% 12% FEC & Multiplex 5% 15% 22%
Slide 22: Q2 FY24 Retail Rental Income grew by 25%
Q2 FY24 Retail Rental Income grew by 25% over Q2 FY23 Q2 FY24 Q2 FY23 % growth over Name of Asset Retail Rental Income Retail Rental Income Q2 FY23 (Rs. cr) (Rs. cr) Phoenix Palladium Mumbai* 97 91 6% Phoenix MarketCity Bangalore 51 47 7% Phoenix MarketCity Pune 52 46 12% Phoenix MarketCity and Pall
Slide 23: Q2 FY24 Retail EBITDA grew by 26%
Q2 FY24 Retail EBITDA grew by 26% over Q2 FY23 Q2 FY24 Q2 FY23 % growth over Name of Asset Retail EBITDA Retail EBITDA Q2 FY23 (Rs. cr) (Rs. cr) Phoenix Palladium Mumbai 98 96 2% Phoenix MarketCity Bangalore 53 47 12% Phoenix MarketCity Pune 56 44 27% Phoenix MarketCity and Palladium Chennai 59 53 1
Slide 24: H1 FY24 Retail Rental Income grew by 21%
H1 FY24 Retail Rental Income grew by 21% over H1 FY23 H1 FY24 H1 FY23 % growth over Name of Asset Retail Rental Income Retail Rental Income H1 FY23 (Rs. cr) (Rs. cr) Phoenix Palladium Mumbai* 193 186 4% Phoenix MarketCity Bangalore 101 93 8% Phoenix MarketCity Pune 103 99 5% Phoenix MarketCity and P
Slide 25: H1 FY24 Retail EBITDA grew by 23%
H1 FY24 Retail EBITDA grew by 23% over H1 FY23 H1 FY24 H1 FY23 % growth over Name of Asset Retail EBITDA Retail EBITDA H1 FY23 (Rs. cr) (Rs. cr) Phoenix Palladium Mumbai 199 189 5% Phoenix MarketCity Bangalore 104 94 12% Phoenix MarketCity Pune 110 95 16% Phoenix MarketCity and Palladium Chennai 116
Slide 26: Ramp-up in leased and trading occupancy across major malls
Ramp-up in leased and trading occupancy across major malls Leased Occupancy Trading Occupancy GLA Mar-23 Sep-23 Mar-23 Sep-23 Phoenix Palladium Mumbai ~0.87 msf* 99% 99% 91% 95% Phoenix MarketCity Bangalore ~1.00 msf 98% 98% 94% 98% Phoenix MarketCity Pune ~1.20 msf 97% 97% 90% 95% Phoenix MarketCit
Slide 27: Business Performance – Commercial
Photo shot at location Business Update Business Performance – Commercial Financial Results Annexure Fountainhead Towers Pune 26
Slide 28: Leasing momentum and strong portfolio growth outlook
Leasing momentum and strong portfolio growth outlook H1 FY’24 WALE – Above 3 Years EBITDA Growth Total Income H1 FY’24 Vs H1 FY’23 Rs. 91 Cr 7% ~5 msft 3.1 Years 9% growth over H1 FY23 EBITDA Under Highest Ever Max tenure – H1 FY’24 Development 5 Years Half Yearly Income 52Cr Industry agnostic front
Slide 29: Office Portfolio seeing improving leasing traction
Office Portfolio seeing improving leasing traction Total Area Area Sold Net Leasable Area Leased Gross Rent * Net Rent * Project Name Location (msft) (msft) Area (msft) (msft) (psfpm) (psfpm) Operational Office Portfolio Art Guild House Mumbai 0.80 0.17 0.63 0.54 116 95 Phoenix Paragon Plaza Mumbai
Slide 30: Q2 FY24 Commercial Offices Income Rs. 47 cr
Q2 FY24 Commercial Offices Income stood at Rs. 47 cr, up 9% over Q2 FY23 EBITDA as Total Income (Rs. cr) EBITDA (Rs. cr) % of Total Income Operational Portfolio Q2 FY24 Q2 FY23 Growth (%) Q2 FY24 Q2 FY23 Growth (%) Q2 FY24 Q2 FY23 Art Guild House 20 19 3% 13 12 7% 66% 63% Phoenix Paragon Plaza 9 8 1
Slide 31: H1 FY24 Commercial Offices Income Rs. 91 cr
H1 FY24 Commercial Offices Income stood at Rs. 91 cr, up 9% over H1 FY23 EBITDA as Total Income (Rs. cr) EBITDA (Rs. cr) % of Total Income Operational Portfolio H1 FY24 H1 FY23 Growth (%) H1 FY24 H1 FY23 Growth (%) H1 FY24 H1 FY23 Art Guild House 41 38 7% 28 25 11% 68% 65% Phoenix Paragon Plaza 16 1
Slide 32: Phoenix Asia Towers – Commercial Offices, Hebbal
Phoenix Asia Towers – Commercial Offices on top of the mall, Hebbal, Bengaluru Photo shot at location ✓ Office GLA: Phase 1: ~0.80 msft, Phase 2: ~0.40 msft ✓ Lobby and common area finishing, and façade work underway ✓ Phase I of offices to be operational in FY24 31
Slide 33: Millennium Towers – Commercial Offices
Millennium Towers – Commercial Offices integrated with the mall ✓ Office GLA: ~1.40 msft ✓ Slab work completed up to 5th floor for Tower 1A and upto 4th floor for Tower 1B ✓ Slab work completed up to terrace for Tower 2A and upto 12th floor for Tower 2B Indicative Render 32
Slide 34: Palladium Offices – Phoenix MarketCity Chennai
Palladium Offices – Offices on top of our malls Phoenix MarketCity and Palladium Chennai Photo shot at location ✓ Office GLA: ~0.40 msft ✓ RCC Structure construction underway with 4 out of 9 slabs completed ✓ Received USGBC LEED Pre-Certification with Gold Rating ✓ Completion targeted in FY25 33
Slide 35: Project Rise at Lower Parel, Mumbai
Project Rise at Lower Parel, Mumbai – office-led mixed use development - the Jewel in the Phoenix crown Office GLA: ~1.10 msft Retail GLA: ~0.20 msft ✓ Foundation work completed ✓ Basement 2 slab completed ✓ Basement 2 to Basement 1 vertical members in progress Indicative Render Indicative Render Co
Slide 36: ISML Offices – Phoenix MarketCity Bengaluru
ISML Offices – Offices integrated with Phoenix MarketCity Bengaluru (Whitefield) Retail expansion GLA- ~0.20 msft and ~17 screen multiplex ✓ Offices GLA: ~1.10 msft, Proposed Office Towers – Proposed Phase I : 0.40 msft Grand Hyatt GLA - ~1.10 msft Phase 1: ~0.40 Hotel ✓ Excavation nearing Upto 400
Slide 37: Business Performance – Hospitality
Photo shot at location Business Update Business Performance – Hospitality Financial Results Annexure Koishii, The St. Regis, Mumbai 36
Slide 38: The St. Regis, Mumbai: ARR improvement in Q2 FY24
The St. Regis, Mumbai: Significant improvement in ARR during Q2 FY24 Occupancy (%) ARR (Rs.) RevPar (Rs.) 15,040 12,303 84% 82% 27% 24% 11,840 9,959 Q2 FY23 Q2 FY24 Q2 FY23 Q2 FY24 Q2 FY23 Q2 FY24 37
Slide 39: The St. Regis, Mumbai: ARR improvement in H1 FY24
The St. Regis, Mumbai: Significant improvement in ARR during H1 FY24 Occupancy (%) ARR (Rs.) RevPar (Rs.) 12,895 15,767 84% 82% 32% 28% 11,928 10,074 H1 FY23 H1 FY24 H1 FY23 H1 FY24 H1 FY23 H1 FY24 38
Slide 40: The St. Regis, Mumbai
The St. Regis, Mumbai Photo shot at location (Rs. cr) Q2 FY24 Q2 FY23 % growth H1 FY24 H1 FY23 % growth Revenue from Rooms 43 36 21% 90 72 25% Revenue from F&B and 47 39 22% 100 78 28% Banqueting Other Operating Income 12 10 12% 23 18 33% Total Income 102 85 20% 213 168 27% Operating EBITDA 45 35 29
Slide 41: Courtyard by Marriott Agra: RevPAR improvement Q2 FY24
Courtyard by Marriott Agra: Significant improvement in RevPAR during Q2 FY24 Occupancy (%) ARR (Rs.) RevPar (Rs.) 69% 4,196 2,902 8% 19% 3,883 63% 2,446 Q2 FY23 Q2 FY24 Q2 FY23 Q2 FY24 Q2 FY23 Q2 FY24 40
Slide 42: Courtyard by Marriott Agra: RevPAR improvement H1 FY24
Courtyard by Marriott Agra: Significant improvement in RevPAR during H1 FY24 Occupancy (%) ARR (Rs.) RevPar (Rs.) 4,303 3,030 70% 13% 26% 3,810 63% 2,406 H1 FY23 H1 FY24 H1 FY23 H1 FY24 H1 FY23 H1 FY24 41
Slide 43: Courtyard by Marriott Agra
Courtyard by Marriott Agra Photo shot at location (Rs. cr) Q2 FY24 Q2 FY23 % growth H1 FY24 H1 FY23 % growth Revenue from Rooms 5 4 17% 10 8 26% Revenue from F&B and 4 3 11% 9 7 22% Banqueting Other Operating Income 0.5 1 -53% 1 1 -33% Total Income 9 9 7% 20 17 20% Operating EBITDA 1 1 7% 3 2 19% EB
Slide 44: Business Performance – Residential
Indicative Render Business Update Business Performance – Residential Financial Results Annexure One Bengaluru West 43
Slide 45: Residential Portfolio at Bengaluru: Leaping over FY23 within 7 months
Residential Portfolio at Bengaluru: Leaping over FY23 within 7 months of FY24 Beat performance achieved in FY23 within 7 months of FY24 Gross Sales in YTD FY’24 Vs FY’23 Collections in YTD FY’24 Vs FY’23 ~20% increase in rates 495 Cr 423 Cr 466 Cr 369 Cr ~17K ~21K per sft per sft FY23 YTD FY24 (Apr-
Slide 46: Residential Portfolio: Steady traction in demand for ready units
Residential Portfolio: Steady traction in demand for ready units ✓ Sales trajectory has seen good improvement backed by strong demand and faster conversions. ✓ Gross sales of ~Rs. 433 crores in H1 FY24 vis-à-vis Rs. 466 crores in FY23. Growth of 155% was seen in H1 FY24 vs H1 FY23 ✓ Strong sales mom
Slide 47: Financial Results
Photo shot at location Business Update Business Performance Financial Results Annexure Phoenix MarketCity Pune 46
Slide 48: Q2 and H1 FY24 Consolidated P&L
Q2 and H1 FY24 Consolidated P&L (Rs. cr) Q2 FY24 Q2 FY23 YoY% H1 FY24 H1 FY23 YoY% Income from operations 875 651 34% 1,686 1,225 38% Operating EBITDA 514 381 35% 1,006 704 43% EBITDA Margin (%) 59% 58% 1 pps 60% 57% 3 pps Other income 32 32 -2% 61 56 8% Profit before tax & exceptional items 375 274
Slide 49: Debt Profile as on 30th September 2023
Debt Profile as on 30th September 2023 ➢ Average cost of debt in September 2023 Effective cost of debt (%) stood at 8.71% 9.19% ➢ Lowest rate on borrowing was at 8.50% 8.74% 8.87% 8.71% ➢ 97% of debt is on the operational portfolio 8.17% Spread: Status Asset Class Rs. cr Spread: 7.30% 221 bps 479 bp
Slide 50: Net Decline in gross debt of Rs. 310 cr since March 2020
Net Decline in gross debt of Rs. 310 cr since March 2020 Debt on Operational Portfolio (Rs. cr) 4,457 4,177 4,121 4,019 4,002 3,942 Mar-20 Mar-21 Mar-22 Mar-23 Jun-23 Sep-23 554 Debt on Under construction Portfolio (Rs. cr) Debt of Phoenix Mall of the Millenium moved to operational but brisk pace of
Slide 51: PML Consolidated Cashflow
PML Consolidated Cashflow Particulars (Rs cr) Period ended 30-Sep-23 Cash and Cash equivalents at the beginning of the period 265 Cash Flow from Operating Activities Operating cash flow before changes in Working Capital 996 Add: Changes in working capital 189 Less: Tax Paid -126 Net Cash Generated f
Slide 52: Strong operating free cash flow in Q2 FY24
Strong operating free cash flow in Q2 FY24 Particulars (Rs cr) For the quarter ended 31-Mar-23 For the quarter ended 30-Jun-23 For the quarter ended 30-Sep-23 Net cash from operating activities 618 545 515 Less: Interest paid -126 -94 -83 Operating free cash flow 492 450 432 Operating free cash flow
Slide 53: Q2 and H1 FY24 Standalone P&L
Q2 and H1 FY24 Standalone P&L (Rs. cr) Q2 FY24 Q2 FY23 YoY% H1 FY24 H1 FY23 YoY% Income from operations 112 118 -5% 230 230 0% Operating EBITDA 73 80 -8% 156 154 1% EBITDA Margin (%) 65% 68% -3 pps 68% 67% 1 pps Other income1 93 6 1367% 99 46 112% Profit before tax & exceptional items 142 61 133% 20
Slide 54: Group-level Debt and Cash position as on 30th September 2023
Group-level Debt and Cash position as on 30th September 2023 vs. 31st March 2023 31-Mar-23 30-Sep-23 Change Amount Rs. cr Liquidity (Bank balance + 1,755 2,166 + 411 Investments + DSRA)*^ Gross Debt 4,037 4,263 + 225 Net Debt 2,282 2,096 - 186 *Does not include amount available in overdraft accounts
Slide 55: PML-level Debt and Cash position as on 30th September 2023
PML-level Debt and Cash position as on 30th September 2023 vs. 31st March 2023 31-Mar-23 30-Sep-23 Change Amount Rs. cr Liquidity (Bank balance + 1,299 1,724 + 425 Investments + DSRA)*^ Gross Debt 3,079 3,224 + 145 Net Debt 1,780 1,500 - 280 *Does not include amount available in overdraft accounts ^
Slide 56: Upgrades/New Credit Rating in the last 12 months
Upgrades/New Credit Rating in the last 12 months Rated Amount Rating as on Sr. No. Company Rating Agency Current Rating Remarks (Rs. mn) 30-September-22 India Ratings 7,500 A+/ Stable AA-/ Stable Upgraded by 1 notch with stable outlook 1 The Phoenix Mills Limited CRISIL 4,000 A+/ Stable AA-/ Stable
Slide 57: Annexure
Photo shot at location Business Update Business Performance Financial Results Annexure Phoenix Palassio Lucknow 56
Slide 58: Phoenix Palladium Mumbai
Phoenix Palladium Mumbai (Rs. cr) Q2 FY24 Q2 FY23 % growth H1 FY24 H1 FY23 % growth Rental 97 91 6% 193 186 4% CAM & Others 18 19 -5% 37 36 4% Total Income 115 110 4% 230 222 4% Asset EBITDA 98 96 2% 199 189 5% Asset EBIDTA Margin 101% 105% NA 103% 102% NA as % of Rental PML Standalone EBITDA 73 80
Slide 59: Phoenix MarketCity Bangalore
Phoenix MarketCity Bangalore (Rs. cr) Q2 FY24 Q2 FY23 % growth H1 FY24 H1 FY23 % growth Rental 51 47 7% 101 93 8% CAM & Others 18 16 14% 35 32 11% Total Income 69 63 9% 136 125 9% Asset EBITDA 53 47 12% 104 94 12% Asset EBIDTA Margin 104% 99% NA 104% 100% NA as % of Rental Mall Rental Rate 168 164 3
Slide 60: Phoenix MarketCity Pune
Phoenix MarketCity Pune (Rs. cr) Q2 FY24 Q2 FY23 % growth H1 FY24 H1 FY23 % growth Rental 52 46 12% 103 99 5% CAM & Others 21 18 17% 41 37 10% Total Income 73 64 14% 145 136 6% Asset EBITDA 56 44 27% 110 95 16% Asset EBIDTA Margin 107% 95% NA 107% 97% NA as % of Rental Mall Rental Rate 153 148 3% 15
Slide 61: Phoenix MarketCity & Palladium Chennai
Phoenix MarketCity & Palladium Chennai (Rs. cr) Q2 FY24 Q2 FY23 % growth H1 FY24 H1 FY23 % growth Rental 53 49 7% 104 98 6% CAM & Others 24 21 17% 48 41 17% Total Income 77 70 10% 152 139 9% Asset EBITDA 59 53 12% 116 106 9% Asset EBIDTA Margin 113% 109% NA 112% 108% NA as % of Rental Mall Rental Ra
Slide 62: Phoenix MarketCity Mumbai
Phoenix MarketCity Mumbai (Rs. cr) Q2 FY24 Q2 FY23 % growth H1 FY24 H1 FY23 % growth Rental 40 35 13% 80 73 10% CAM & Others 18 17 7% 36 34 5% Total Income 58 52 11% 116 107 8% Asset EBITDA 39 34 13% 78 70 11% Asset EBIDTA Margin 97% 97% NA 97% 96% NA as % of Rental Mall Rental Rate 119 111 7% 119 1
Slide 63: Phoenix United Lucknow
Phoenix United Lucknow (Rs. cr) Q2 FY24 Q2 FY23 % growth H1 FY24 H1 FY23 % growth Rental 9 10 -10% 17 19 -7% CAM & Others 5 5 2% 9 9 2% Total Income 13 14 -6% 26 27 -4% Asset EBITDA 9 10 -10% 17 18 -7% Asset EBIDTA Margin 101% 101% NA 96% 96% NA as % of Rental Mall Rental Rate 88 83 6% 87 85 2% (Rs.
Slide 64: Phoenix United Bareilly
Phoenix United Bareilly (Rs. cr) Q2 FY24 Q2 FY23 % growth H1 FY24 H1 FY23 % growth Rental 6 6 7% 12 12 4% CAM & Others 3 3 3% 7 6 6% Total Income 10 9 5% 19 18 5% Asset EBITDA 6 6 3% 12 12 3% Asset EBIDTA Margin 97% 100% NA 99% 100% NA as % of Rental Mall Rental Rate 70 63 11% 67 68 -1% (Rs. pspm) M
Slide 65: Phoenix Palassio Lucknow
Phoenix Palassio Lucknow (Rs. cr) Q2 FY24 Q2 FY23 % growth H1 FY24 H1 FY23 % growth Rental 32 29 10% 63 57 11% CAM & Others 15 13 16% 27 26 5% Total Income 47 42 12% 90 83 9% Asset EBITDA 35 29 20% 67 60 12% Asset EBIDTA Margin 109% 100% NA 106% 105% NA as % of Rental Mall Rental Rate 125 115 9% 122
Slide 66: Phoenix Citadel Indore
Phoenix Citadel Indore (Rs. cr) Q2 FY24 H1 FY24 Rental 24 47 CAM & Others 13 25 Total Income 38 72 Asset EBITDA 23 47 Asset EBIDTA Margin as % of Rental 94% 99% Mall Rental Rate (Rs. pspm) 85 85 Mall Consumption (Rs. cr) 114 218 Mall Trading Density (Rs. pspm) 622 622 Mall Trading Occupancy (%)* 88%
Slide 67: Phoenix Palladium Ahmedabad
Phoenix Palladium Ahmedabad (Rs. cr) Q2 FY24 H1 FY24 Rental 22 41 CAM & Others 13 23 Total Income 35 64 Asset EBITDA 21 34 Asset EBIDTA Margin as % of Rental 92% 83% Mall Rental Rate (Rs. pspm) 137 137 Mall Consumption (Rs. cr) 98 173 Mall Trading Density (Rs. pspm) 955 951 Mall Trading Occupancy (%
Slide 68: Phoenix Mall of the Millennium
Phoenix Mall of the Millennium (Rs. cr) September 2023 Rental 7 CAM & Others 4 Total Income 11 Asset EBITDA 5 Asset EBIDTA Margin 76% as % of Rental Mall Rental Rate 144 (Rs. pspm) Mall Consumption 31 (Rs. cr) Mall Trading Density 938 (Rs. pspm) Mall Trading Occupancy 44% (%)* *Trading occupancy for
Slide 69: Gross Debt across Subsidiaries as on 30th September 2023
Gross Debt across Subsidiaries as on 30th September 2023 PML Ownership Potfolio Status Asset Type SPV Asset Name Q1 FY24 (Rs. Cr) Q2 FY24 (Rs. Cr) (%) The Phoenix Mills Ltd. Phoenix Palladium, Mumbai 100.0% 497 647 (Standalone) Classic Mall Development Phoenix MarketCity, Chennai 100.0% 382 391 Vamo
Slide 70: Mall-wise Renewal Schedule (as a % of Gross Leasable Area)
Mall-wise Renewal Schedule (as a % of Gross Leasable Area) 78% of GLA up for renewal over FY24 - FY27 57% of GLA up for renewal over FY24 - FY27 27% 23% 19% 17% 15% 13% 11% 10% FY24 FY25 FY26 FY27 FY24 FY25 FY26 FY27 73% of GLA up for renewal over FY24 - FY27 54% of GLA up for renewal over FY24 - FY
Slide 71: 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 72: Thank you
Thank you Varun Parwal Bhavesh Gada Email: varun.p@phoenixmills.com Email: bhavesh.gada@phoenixmills.com Madhurima Kane Email: madhurima.kane@phoenixmills.com Website: https://www.thephoenixmills.com/investors 71