Phoenix Mills Ltd. · NSE:PHOENIXLTD
Phoenix Mills — The Phoenix Mills — Shareholder Meeting (September 2021)
32 slides from Phoenix Mills's shareholder meeting presentation, Sep 24, 2021
Slide 1: Exchange filing cover letter: presentation at 116th AGM
�t.i THE PHOENIX ,p' MILLS LIMITED 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 24, 2021 BSE Limited National Stock Exchange of India Limi
Slide 2: The Phoenix Mills Ltd. 116th AGM Presentation
The Phoenix Mills Ltd. 116th AGM Presentation – 24th Sept 2021 1 Phoenix Palassio, Lucknow
Slide 3: Developer of India's Iconic Retail-led Mixed Use Developments
Developer of India’s Iconic Retail-led Mixed Use Developments Phoenix MarketCity, Mumbai + Phoenix Palladium + The St Regis, Phoenix Millennium, Pune + Offices Offices (Centrium, PPP and Art Guild House) Mumbai + Offices + Upcoming Project Rise Phoenix MarketCity, Bangalore + Offices + Phoenix Marke
Slide 4: Diversified portfolio across asset class
Diversified portfolio across asset class Retail Commercial Hospitality Residential Operational Operational The St. Regis, Mumbai Total Saleable + Courtyard by Marriott, Agra Retail Spaces GLA Office Spaces GLA Area ~7 ~1.6 588 ~4 msf msf keys msf Under-development & Under-development & Under-plannin
Slide 5: Raised equity capital of ~Rs. 3,000 cr in months
Raised equity capital of ~Rs. 3,000 cr in 12 months… Qualified Institutional Placement (QIP) August 2020 ~Rs. 1,100 cr New JV with May 2021 ~Rs. 384 cr CPPIB for Kolkata 49% stake for CPPIB Equity Infusion in existing retail platform May 2021 ~Rs. 392 cr CPPIB’s share of Commitment, tranche 1 with C
Slide 6: Optimizing cost of debt and reducing gross debt levels
… while optimizing cost of debt and reducing gross debt levels … Effective cost of debt (%) Gross Debt (Rs. cr) 9.38% 9.19% 4,573 4,547 4,487 8.17% 7.90% 4,357 Mar-19 Mar-20 Mar-21 Jun-21 Mar' 19 Mar' 20 Mar' 21 Jun' 21 • Average cost of debt reduced from 9.38% in March 2019 to 7.90% in June 2021 by
Slide 7: Capital autonomy: liquidity, gross debt and net debt
… in order to give us the necessary capital autonomy… Group Level PML Share Liquidity (Bank balance + Rs. 1,662 cr Rs. 1,551 cr Investments + DSRA) Gross Debt Rs. 4,357 cr Rs. 3,237 cr Net Debt Rs. 2,694 cr Rs. 1,686 cr Note: 1. As of June 30, 2021 2. Liquidity does not include funds of Rs. 689 cr p
Slide 8: Delivery timelines for Under Construction Assets on Track
… to keep Delivery timelines for Under Construction Assets on Track Phoenix Citadel, Indore Palladium, Ahmedabad Phoenix Millennium, Pune Phoenix Mall of Asia, Bangalore • Ahmedabad’s very • Retail GLA ~1.2 msft • Retail GLA ~1.2 msft • Retail GLA ~1.0 msft own luxury mall under construction under c
Slide 9: Strong Consumption Recovery in August 2021
Strong Consumption Recovery in August 2021… August 2021 Consumption (in Rs. cr ) As % of Aug, 2019* 94% 82% NA 54% 47% 70% 87% 21% As % of Mar, 2021* 115% 127% 122% 88% 66% 101% 97% 38% Operational Days 31 31 31 23 15 31 31 15 103 83 55 42 30 18 14 8 PMC Bangalore PMC & Palladium Phoenix Palassio PM
Slide 10: No loss of momentum in Consumption at Phoenix Marketcity Bangalore
…with no loss of momentum in Consumption at Phoenix Marketcity Bangalore Phoenix Marketcity Bangalore - Consumption Trend (in Rs. cr ) As % 31% 36% 43% 47% 50% 91% 63% 84% 87% 93% 71% 86% 94% of SM FY20* 103 96 93 92 89 84 78 69 50 Local restrictions were 47 46 imposed on 22nd April and lifted on 05
Slide 11: Phoenix Marketcity and Palladium Chennai consumption trend
…and Phoenix Marketcity and Palladium Chennai as well Phoenix Marketcity Chennai & Palladium - Consumption Trend (in Rs. cr ) As % 34% 43% 71% 59% 76% 82% 67% 66% 75% 82% of SM FY20* 83 74 74 71 65 60 62 47 Local restrictions were 45 imposed on 25th April and 29 lifted on 28th June with restricted t
Slide 12: We continue planning for future marquee developments
We continue planning for future marquee developments…
Slide 13: Project Rise at Lower Parel, Mumbai - Under Planning
Project Rise at Lower Parel, Mumbai - Under Planning • ~ 1 msft of offices and ~ 0.2 msft of retail development • Retail to be operational in FY25 and offices in FY26 • Approvals underway, Commencement Certificate (CC) received • State of the art development which will complement the flagship proper
Slide 14: Gross Leasable Area mix in Retail and Commercial Segments
Gross Leasable Area (GLA mix) in Retail and Commercial Segments FY 21 FY 26 Retail 6.9 msf 1.9x 13.0 msf Commercial 1.6 msf 3.9x 6.2 msf Robust growth trajectory to solidify leadership position in mixed use developments in India Note: Phoenix Marketcity Bangalore 0.3 mn sq. ft. retail and Chennai Co
Slide 15: Expansion by densification of mixed use developments
Expansion by densification of mixed use developments Under Development / Planning Offices Location GLA* (msft) Office portfolio to grow Fountainhead T3 (awaiting OC) Pune ~0.4 from ~1.6 msft to Phoenix Millennium, Wakad – Office Pune ~0.6 ~6.2 msft in 4 years Palladium Chennai – Office Chennai ~0.4
Slide 16: Completed Fountainhead Office Towers at Phoenix Marketcity Pune
Completed Fountainhead Office Towers at Phoenix Marketcity Pune Offices Fountainhead Tower 1 ~0.17 msft GLA Offices Fountainhead Tower 3 ~0.41 msft GLA Offices Fountainhead Tower 2 ~0.25 msft GLA 3rd Floor Retail ~0.08 msft GLA Existing Mall (LG + G + 2) ~1.1 msft GLA GLA is an estimate based on cur
Slide 17: Millennium Towers, Wakad, Pune – Under Planning
Millennium Towers, Wakad, Pune – Under Planning Indicative Indicative Render Render
Slide 18: Palladium Towers, Chennai – Under Planning
Palladium Towers, Chennai – Under Planning SBA – ~0.16 msft SBA – ~0.28 msft Palladium Towers Commercial GLA – ~0.42 msft SBA – ~0.1 msft GLA – ~1.00 msft GLA – ~0.22 msft Phoenix MarketCity and Palladium Chennai
Slide 19: Densification at Phoenix Marketcity Bangalore - Under Planning
Densification at Phoenix Marketcity Bangalore - Under Planning Proposed Office 3rd and 4th Retail Tower 1 - B Wing expansion ~0.35 msft GLA ~0.31 msft GLA Proposed Office Tower 1 –A Wing ~0.37 msft GLA Proposed Office Tower 2 ~0.33 msft GLA Proposed Grand Hyatt Hotel ~300 keys Existing Mall GLA is a
Slide 20: Phoenix Marketcity Bangalore – Office Development
Phoenix Marketcity Bangalore – Office Development - Under Planning Indicative Render
Slide 21: Asia Towers, Hebbal, Bangalore - Under Planning
Asia Towers, Hebbal, Bangalore - Under Planning Indicative Render
Slide 22: Looking at lucrative opportunities to expand
Looking at lucrative opportunities to expand…
Slide 23: Target Cities of Interest
Target Cities of Interest 7.48 acres of land acquired in Feb 2021 Kolkata Chandigarh Gurgaon Surat Hyderabad Mumbai / Navi Mumbai Chennai Jaipur Greenfield/brownfield retail led development opportunities in key catchments of leading cities in India 22
Slide 24: Adopting Technology, expanding Digital Footprint
Adopting Technology, expanding Digital Footprint
Slide 25: Digital Initiatives - Phoenix Nhance Customer Reward Program
Digital Initiatives - Phoenix Nhance “Customer Reward Program” Mall Feed: Live communication to customers who have signed on to the Reward Program on offerings and happenings in the mall Rewards: Customers can earn and enjoy various exciting rewards across brands and offerings on the program Experie
Slide 26: Digital Initiatives - Phoenix Nhance Customer Reward Program
Digital Initiatives - Phoenix Nhance “Customer Reward Program” Live across 5 cities and 6 Malls offering Phoenix Palladium, Mumbai Phoenix MarketCity, Bangalore 200,000 active members, with target to reach 10,00,000 by end Phoenix MarketCity, Chennai of FY22 Phoenix MarketCity, Pune Delivering exper
Slide 27: Digital Initiatives - Phoenix Nhance Customer Reward Program
Digital Initiatives - Phoenix Nhance “Customer Reward Program” Phoenix MarketCity, Chennai Active for more than a Phoenix Palladium, Mumbai year Phoenix MarketCity, Bangalore Over 120,000 members Phoenix MarketCity, Pune Active for approx. 4 Scan value of over INR months Phoenix MarketCity, Mumbai 5
Slide 28: Other Digital Initiatives – Adopting technology with changing times
Other Digital Initiatives – Adopting technology with changing times E-mall/ Omni-channel Curated preference-based offerings Adoption of multi-channel approach to reach out Provide preference-based offerings to loyal customers based on their to mall customers to shop from the stores in the shopping p
Slide 29: Why 'The Phoenix Mills Ltd.'?
Why ‘The Phoenix Mills Ltd.’ ?
Slide 30: The Phoenix Mills – Best Play on Indian Urban Consumption
The Phoenix Mills – Best Play on Indian Urban Consumption India – The last under-penetrated retail market with strong demographics & significant growth potential One of India's largest mall owner and operator Strong operational performance: 7-yr retail consumption CAGR of 15% and rental income
Slide 31: Value Creation: What sets us apart?
What sets us apart? Superior Asset Operation Robust Execution Dominant Consumption Bandwidth Hubs Selective Prudent Capital Opportunities Value Structure Creation
Slide 32: Thank you
Thank you Advait Phatarfod Rohan Rege Email: advait.p@phoenixmills.com Email: rohan.rege@phoenixmills.com Bijay Sharma Contact: +91 22 6169 5988 Email: pml@churchgatepartners.com Website: https://www.thephoenixmills.com/investors 31
The Phoenix Mills — Shareholder Meeting (September 2021) on 6ix