Phoenix Mills Ltd. · NSE:PHOENIXLTD
Phoenix Mills — The Phoenix Mills — Q3 FY2024 Earnings Presentation
62 slides from Phoenix Mills's earnings presentation, Feb 12, 2024
Slide 1: 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 February 12, 2024 BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers Exchang
Slide 2: Investor Presentation Q3 and 9M FY24
Phoenix Palladium, Mumbai The Phoenix Mills Ltd. Investor Presentation Q3 and 9M FY24
Slide 3: Business Update, Business Performance, Financial Results, Annexure
Photo shot at location Business Update Business Performance Financial Results Annexure Palladium Ahmedabad 2
Slide 4: Retail Consumption Overview
Retail Consumption Overview Double Digit Growth Q3 FY24 and 9M FY24 Consumption Consumption Growth Components Q3 FY24 and 9M FY24 Rentals Rental Growth Components 5% 25% 8% 21% 5% 33% 5% 25% 9M FY24 9M FY24 ~Rs. 8,500 Cr Rs. 1,213 Cr Q3 FY24 Q3 FY24 ~Rs. 3,300 Cr Like-to-like Rs. 447 Cr Like-to-like
Slide 5: Phoenix Citadel Indore: Launched on 1st December 2022
Phoenix Citadel Indore: Launched on 1st December 2022 Ramp up in Trading Occupancy (%) Photo shot at location 91% Retail GLA: ~1.00 msft 89% 86% 70% 42% Dec-22 Mar-23 Jun-23 Sep-23 Dec-23 4
Slide 6: Palladium Ahmedabad: Launched on 26th February 2023
Palladium Ahmedabad: Launched on 26th February 2023 Retail GLA: ~0.75 msft Photo shot at location Ramp up in Trading Occupancy (%) 78% 74% 60% 43% 32% Feb-23 Mar-23 Jun-23 Sep-23 Dec-23 5
Slide 7: Phoenix Mall of the Millennium: Launched on 1st September 2023
Phoenix Mall of the Millennium: Launched on 1st September 2023 Retail GLA: ~1.20 msft Photo shot at location Ramp up in Trading Occupancy (%) 60% 50% 44% Sep23 Oct-23 Dec-23 6
Slide 8: Phoenix Mall of Asia: Launched on 27th October 2023
Phoenix Mall of Asia: Launched on 27th October 2023 Retail GLA: ~1.20 msft Photo shot at location Ramp up in Trading Occupancy (%) 50% 44% Oct-23 Dec-23 7
Slide 9: Update on Under Development Retail Projects
Update on Under Development Retail Projects Estimated Project GLA Project Status Launch ✓ Civil work in advance stage of completion Retail block opposite PVR ~0.25 msft 2024 ✓ Vendor mobilized for service works and work will start soon (Phoenix Palladium Mumbai) ✓ Contract award in progress for Faça
Slide 10: Business Performance - Retail
Photo shot at location Business Update Business Performance - Retail Financial Results Annexure Phoenix Palladium Mumbai 9
Slide 11: Highest ever quarterly consumption at Rs. 3,296 cr
Highest ever quarterly consumption at Rs. 3,296 cr Retail consumption in Q3 FY24 grew by 25% over Q3 FY23 Q3 FY24 Consumption (Rs. cr) Growth -2% -1% 3% 5% 15% 12% -2% 10% NA NA NA NA over Q3 FY23 619 Strong ramp up in consumption 515 in the newly launched malls 449 386 331 304 139 144 147 141 59 62
Slide 12: Retail consumption in 9M FY24 at ~Rs. 8,500 cr
Retail consumption in 9M FY24 at ~Rs. 8,500 cr grew by 21% over 9M FY23 9M FY24 Consumption (Rs. cr) Growth 5% 4% 4% 10% 11% 15% -4% 15% NA NA NA NA over 9M 1,710 FY23 1,450 1,249 1,125 871 790 357 317 158 163 178 141 Phoenix PMC PMC Pune PMC & PMC Mumbai Phoenix PU Lucknow PU Bareilly Phoenix Palla
Slide 13: Q3 FY24 - Consumption across discretionary wallet spend
Q3 FY24 - Consumption across entire spectrum of discretionary wallet spend On a like-to-like basis Consumption Contribution Trading Area Mix Growth Q3 FY24 vs Q3 FY23 Fashion & Accessories 51% 54% 3% Electronics 12% 4% 0% Jewellery 11% 2% 19% Food & Beverages 10% 10% 2% FEC & Multiplex 4% 14% 1% Gou
Slide 14: 9M FY24 - Consumption across discretionary wallet spend
9M FY24 - Consumption across entire spectrum of discretionary wallet spend On a like-to-like basis Consumption Contribution Trading Area Mix Growth 9M FY24 vs 9M FY23 Fashion & Accessories 50% 54% 8% Electronics 12% 4% -3% Jewellery 12% 1% 22% Food & Beverages 10% 10% 8% FEC & Multiplex 4% 14% 15% G
Slide 15: Q3 FY24 Retail Rental Income grew by 33%
Q3 FY24 Retail Rental Income grew by 33% over Q3 FY23 Q3 FY24 Q3 FY23 % growth over Name of Asset Retail Rental Income Retail Rental Income Q3 FY23 (Rs. cr) (Rs. cr) Phoenix Palladium Mumbai* 97 99 -2% Phoenix MarketCity Bangalore 53 51 4% Phoenix MarketCity Pune 54 51 7% Phoenix MarketCity and Pall
Slide 16: Q3 FY24 Retail EBITDA grew by 27%
Q3 FY24 Retail EBITDA grew by 27% over Q3 FY23 Q3 FY24 Q3 FY23 % growth over Name of Asset Retail EBITDA Retail EBITDA Q3 FY23 (Rs. cr) (Rs. cr) Phoenix Palladium Mumbai 101 104 -3% Phoenix MarketCity Bangalore 54 51 6% Phoenix MarketCity Pune 55 52 6% Phoenix MarketCity and Palladium Chennai 55 51
Slide 17: 9M FY24 Retail Rental Income grew by 25%
9M FY24 Retail Rental Income grew by 25% over 9M FY23 9M FY24 9M FY23 % growth over Name of Asset Retail Rental Income Retail Rental Income 9M FY23 (Rs. cr) (Rs. cr) Phoenix Palladium Mumbai* 287 285 1% Phoenix MarketCity Bangalore 153 144 7% Phoenix MarketCity Pune 158 149 6% Phoenix MarketCity and
Slide 18: 9M FY24 Retail EBITDA grew by 24%
9M FY24 Retail EBITDA grew by 24% over 9M FY23 9M FY24 9M FY23 % growth over Name of Asset Retail EBITDA Retail EBITDA 9M FY23 (Rs. cr) (Rs. cr) Phoenix Palladium Mumbai 300 293 2% Phoenix MarketCity Bangalore 157 149 5% Phoenix MarketCity Pune 166 147 12% Phoenix MarketCity and Palladium Chennai 17
Slide 19: 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 Sep-23 Dec-23 Sep-23 Dec-23 Phoenix Palladium Mumbai ~0.87 msft 99% 99% 95% 98% Phoenix MarketCity Bangalore ~1.00 msft 98% 98% 98% 98% Phoenix MarketCity Pune ~1.20 msft 97% 97% 94% 95% Phoenix MarketC
Slide 20: Business Performance – Commercial
Photo shot at location Business Update Business Performance – Commercial Financial Results Annexure Fountainhead Towers Pune 19
Slide 21: Commercial office business getting stronger
Commercial office business getting stronger WALE – Above 3 Years 9M FY24 EBITDA Growth Total Income 9M FY24 Vs 9M FY23 Rs. 140 Cr 12% growth over 9MFY23 13% ~5 msft 3 Years + EBITDA Under Max tenure – Highest Ever 9M FY24 Development 5 Years 9M Income 80Cr Industry agnostic front offices MI NTT GROU
Slide 22: Office Portfolio seeing improving leasing traction
Office Portfolio seeing improving leasing traction Net Leasable Area Area Leased Gross Rent * Project Name Location (msft) (msft) (psfpm) Operational Office Portfolio Art Guild House Mumbai 0.63 0.55 115 Phoenix Paragon Plaza Mumbai 0.31 0.16 133 Fountainhead Towers Pune 0.84 0.56 91 Phoenix House M
Slide 23: Q3 FY24 Commercial Offices Income stood at Rs. 50 cr
Q3 FY24 Commercial Offices Income stood at Rs. 50 cr, up 17% over Q3 FY23 EBITDA as Total Income (Rs. cr) EBITDA (Rs. cr) % of Total Income Operational Portfolio Q3 FY24 Q3 FY23 Growth (%) Q3 FY24 Q3 FY23 Growth (%) Q3 FY24 Q3 FY23 Art Guild House 21 19 9% 14 12 17% 65% 61% Phoenix Paragon Plaza 8 9
Slide 24: 9M FY24 Commercial Offices Income stood at Rs. 140 cr
9M FY24 Commercial Offices Income stood at Rs. 140 cr, up 12% over 9M FY23 EBITDA as Total Income (Rs. cr) EBITDA (Rs. cr) % of Total Income Operational Portfolio 9M FY24 9M FY23 Growth (%) 9M FY24 9M FY23 Growth (%) 9M FY24 9M FY23 Art Guild House 62 58 8% 41 37 12% 67% 64% Phoenix Paragon Plaza 25
Slide 25: Update on Under Development Commercial Office Projects
Update on Under Development Commercial Office Projects Project GLA Estimated Launch Project Status Asia Towers, Hebbal, ~1.20 msft 2024 ✓ Lobby and façade work nearing completion and overall finishing underway Bangalore Phase 1: ~0.80 msft ✓ Slab work completed up to 10th floor for Tower 1A and up t
Slide 26: Business Performance – Hospitality
Photo shot at location Business Update Business Performance – Hospitality Financial Results Annexure Koishii, The St. Regis, Mumbai 25
Slide 27: The St. Regis, Mumbai: Performance overview for Q3 and 9M FY24
The St. Regis, Mumbai: Performance overview for Q3 and 9M FY24 ARR (Rs.) RevPAR (Rs.) Occupancy Revenue Growth Components 23% 29% 23% 26% Growth Growth Growth Growth 82% 19% 27% 23% 28% Q3 FY24 and Rooms Rooms 16,392 20,111 13,385 17,219 13,359 16,391 11,172 14,066 9M FY24 F&B F&B Q3 FY23 Q3 FY24 9M
Slide 28: The St. Regis, Mumbai
The St. Regis, Mumbai Photo shot at location (Rs. cr) Q3 FY24 Q3 FY23 % growth 9M FY24 9M FY23 % growth Revenue from Rooms 57 48 19% 146 119 23% Revenue from F&B and 65 51 27% 165 129 28% Banqueting Other Operating Income 13 10 27% 37 27 37% Total Income 135 109 24% 348 275 26% Operating EBITDA 62 4
Slide 29: Courtyard by Marriott, Agra: Performance overview for Q3 and 9M FY24
Courtyard by Marriott, Agra: Performance overview for Q3 and 9M FY24 ARR (Rs.) RevPAR (Rs.) Occupancy Revenue Growth Components 84% 10% 13% 17% 21% Growth Growth Growth Growth 17% 24% 22% 23% Q3 FY24 75% Rooms Rooms 5,610 6,194 4,441 5,011 4,450 5,189 3,090 3,752 F&B F&B 9M FY24 Q3 FY23 Q3 FY24 9M F
Slide 30: Courtyard by Marriott Agra
Courtyard by Marriott Agra Photo shot at location (Rs. cr) Q3 FY24 Q3 FY23 % growth 9M FY24 9M FY23 % growth Revenue from Rooms 9 8 17% 19 16 22% Revenue from F&B and 7 6 24% 16 13 23% Banqueting Other Operating Income 0.7 1 30% 2 2 -15% Total Income 17 14 20% 37 31 20% Operating EBITDA 6 5 29% 9 7
Slide 31: Update on Under Development Hotel Project
Update on Under Development Hotel Project Estimated Project GLA Project Status Launch ✓ Architectural concept layout completed. Grand Hyatt, ✓ Interior Design under progress Upto 400 keys 2027 Bangalore ✓ Consultants for various work streams onboarded: Design and Liaison Architect, Civil Works (for
Slide 32: Business Performance – Residential
Indicative Render Business Update Business Performance – Residential Financial Results Annexure One Bangalore West 31
Slide 33: Residential Portfolio at Bengaluru: Leaping over FY23
Residential Portfolio at Bengaluru: Leaping over FY23 Gross bookings Collections ~20% increase in rates ~17K ~21K 466 Cr 515 Cr 369 Cr 565 Cr per sft per sft FY23 9M FY24 FY23 9M FY24 Mar-23 Oct-23 Cumulative area sold (msft) Cumulative sales value (Rs. cr)* Cumulative revenue recognized (Rs. cr) 1.
Slide 34: 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. 515 crores in 9M FY24, crossed gross sales in FY23 of Rs. 466 crores. ✓ Collections in Q3 FY24 were ~Rs. 245 crores and
Slide 35: Update on Under Development Residential Project
Update on Under Development Residential Project Estimated Project GLA Project Status completion ✓ Consultants for various work streams onboarded: Design and Liaison Architect, MEP consultant, soil consultant etc. ✓ Approvals received - Fire Approval, KMDA, Survey Dept., Drainage, Water Residential P
Slide 36: Financial Results
Photo shot at location Business Update Business Performance Financial Results Annexure Phoenix MarketCity Pune 35
Slide 37: Q3 and 9M FY24 Standalone P&L
Q3 and 9M FY24 Standalone P&L (Rs. cr) Q3 FY24 Q3 FY23 YoY% 9M FY24 9M FY23 YoY% Income from operations 120 124 -3% 350 354 -1% Operating EBITDA 77 86 -10% 233 240 -3% EBITDA Margin (%) 65% 70% -5 pps 67% 68% -1 pps Other income 5 8 -37% 103 54 91% Profit before tax & exceptional items 58 69 -16% 26
Slide 38: Q3 and 9M FY24 Consolidated P&L
Q3 and 9M FY24 Consolidated P&L (Rs. cr) Q3 FY24 Q3 FY23 YoY% 9M FY24 9M FY23 YoY% Income from operations 986 684 44% 2,672 1,909 40% Operating EBITDA 552 384 44% 1,558 1,088 43% Q3 FY24 EBITDA Margin (%) 56% 56% - 58% 57% 1 pps EBITDA 44% Other income 34 35 -1% 95 91 5% Rs. 552 cr Profit before tax
Slide 39: Debt Profile as on 31st December 2023
Debt Profile as on 31st December 2023 ➢ Average cost of debt in December 2023 Effective cost of debt (%) stood at 8.78% 9.19% ➢ Lowest rate on borrowing was at 8.50% 8.74% 8.78% ➢ 100% of debt is on the operational portfolio 8.17% Status Asset Class Rs. cr Spread: 7.30% 221 bps Retail 3,654 Spread:
Slide 40: 100% of Gross Debt backed by Operational Assets
100% of Gross Debt backed by Operational Assets Marginal movement in Gross Debt despite land acquisition at Thane in Nov-23 Debt on Operational Portfolio (Rs. cr) 4,457 4,288 4,177 4,121 4,019 4,002 3,942 Gross Debt to EBITDA: Mar-20 Mar-21 Mar-22 Mar-23 Jun-23 Sep-23 Dec-23 Down from ~4.7x in FY20
Slide 41: PML Consolidated Cashflow – 9M FY24
PML Consolidated Cashflow – 9M FY24 Particulars (Rs cr) 9M FY24 Cash and Cash equivalents at the beginning of the period (01-Apr-23) 265 Cash Flow from Operating Activities Operating cash flow before changes in Working Capital 1,556 Add: Changes in working capital 382 Less: Tax Paid -222 Net Cash Ge
Slide 42: Strong operating free cash flow in Q3 FY24 and 9M FY24
Strong operating free cash flow in Q3 FY24 and 9M FY24 Particulars (Rs cr) Q3 FY23 Q3 FY24 Change (%) 9M FY23 9M FY24 Change (%) Net cash from operating activities 419 656 57% 1,152 1,716 49% Less: Interest paid -79 -120 51% -241 -297 23% Operating free cash flow 339 536 58% 911 1,419 56% Operating
Slide 43: Group-level Debt and Cash position as on 31st December 2023
Group-level Debt and Cash position as on 31st December 2023 vs. 31st March 2023 31-Mar-23 31-Dec-23 Change Amount Rs. cr Liquidity (Bank balance + 1,755 2,058 + 303 Investments + DSRA)*^ Gross Debt 4,037 4,288 + 251 Net Debt 2,282 2,230 - 52 *Does not include amount available in overdraft accounts ^
Slide 44: PML's share of Debt and Cash position as on 31st December 2023
PML’s share of Debt and Cash position as on 31st December 2023 vs. 31st March 2023 31-Mar-23 31-Dec-23 Change Amount Rs. cr Liquidity (Bank balance + 1,299 1,586 + 287 Investments + DSRA)*^ Gross Debt 3,079 3,220 + 142 Net Debt 1,780 1,634 - 146 *Does not include amount available in overdraft accoun
Slide 45: 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. cr) 31-Dec-22 1 The Phoenix Mills Limited CRISIL 400 AA-/ Stable AA-/ Positive Outlook revised to Positive 2 Pallazzio Hotels & Leisure Limited CRISIL 503 A / Stable A
Slide 46: Annexure
Photo shot at location Business Update Business Performance Financial Results Annexure Phoenix Palassio Lucknow 45
Slide 47: Phoenix Palladium Mumbai
Phoenix Palladium Mumbai (Rs. cr) Q3 FY24 Q3 FY23 % growth 9M FY24 9M FY23 % growth Rental 97 99 -2% 287 285 1% CAM & Others 19 20 -1% 56 55 2% Total Income 117 119 -2% 344 340 1% Asset EBITDA 101 104 -3% 300 293 2% Asset EBIDTA Margin 104% 105% -1 pps 105% 103% 2 pps as % of Rental PML Standalone E
Slide 48: Phoenix MarketCity Bangalore
Phoenix MarketCity Bangalore (Rs. cr) Q3 FY24 Q3 FY23 % growth 9M FY24 9M FY23 % growth Rental 53 51 4% 153 144 7% CAM & Others 19 17 15% 53 49 10% Total Income 72 68 7% 207 192 7% Asset EBITDA 54 51 6% 157 149 5% Asset EBIDTA Margin 102% 100% 2 pps 103% 104% -1 pps as % of Rental Mall Rental Rate 1
Slide 49: Phoenix MarketCity Pune
Phoenix MarketCity Pune (Rs. cr) Q3 FY24 Q3 FY23 % growth 9M FY24 9M FY23 % growth Rental 54 51 7% 158 149 6% CAM & Others 20 19 5% 61 57 9% Total Income 75 70 6% 219 206 6% Asset EBITDA 55 52 6% 166 147 12% Asset EBIDTA Margin 102% 102% - 105% 99% 6 pps as % of Rental Mall Rental Rate 157 163 -4% 1
Slide 50: Phoenix MarketCity & Palladium Chennai
Phoenix MarketCity & Palladium Chennai (Rs. cr) Q3 FY24 Q3 FY23 % growth 9M FY24 9M FY23 % growth Rental 54 48 14% 158 146 8% CAM & Others 26 24 7% 74 65 13% Total Income 80 72 12% 232 211 10% Asset EBITDA 55 51 10% 172 157 9% Asset EBIDTA Margin 103% 106% - 109% 108% 2 pps as % of Rental Mall Renta
Slide 51: Phoenix MarketCity Mumbai
Phoenix MarketCity Mumbai (Rs. cr) Q3 FY24 Q3 FY23 % growth 9M FY24 9M FY23 % growth Rental 43 37 14% 122 110 11% CAM & Others 18 17 7% 54 51 6% Total Income 61 54 12% 176 161 10% Asset EBITDA 41 35 17% 120 107 12% Asset EBIDTA Margin 96% 94% 2 pps 98% 97% 1 pps as % of Rental Mall Rental Rate 128 1
Slide 52: Phoenix Palassio Lucknow
Phoenix Palassio Lucknow (Rs. cr) Q3 FY24 Q3 FY23 % growth 9M FY24 9M FY23 % growth Rental 35 32 9% 98 89 10% CAM & Others 14 13 6% 41 39 5% Total Income 48 45 8% 138 128 8% Asset EBITDA 35 32 10% 102 91 12% Asset EBIDTA Margin 101% 99% 1 pps 104% 103% 1 pps as % of Rental Mall Rental Rate 132 124 6
Slide 53: Phoenix United Lucknow
Phoenix United Lucknow (Rs. cr) Q3 FY24 Q3 FY23 % growth 9M FY24 9M FY23 % growth Rental 9 9 -4% 26 28 -6% CAM & Others 4 4 6% 13 13 4% Total Income 13 13 -1% 39 40 -3% Asset EBITDA 8 8 -1% 24 26 -6% Asset EBIDTA Margin 92% 89% 3 pps 94% 94% - as % of Rental Mall Rental Rate 91 88 4% 89 86 3% (Rs. p
Slide 54: Phoenix United Bareilly
Phoenix United Bareilly (Rs. cr) Q3 FY24 Q3 FY23 % growth 9M FY24 9M FY23 % growth Rental 7 7 -6% 19 19 - CAM & Others 4 3 17% 10 9 10% Total Income 10 10 1% 29 28 4% Asset EBITDA 6 7 -12% 18 19 -2% Asset EBIDTA Margin 99% 106% -7 pps 99% 102% -3 pps as % of Rental Mall Rental Rate 74 69 7% 69 66 4%
Slide 55: Phoenix Citadel Indore
Phoenix Citadel Indore (Rs. cr) Q3 FY24 9M FY24 Rental 23 70 CAM & Others 11 36 Total Income 34 105 Asset EBITDA 19 65 Asset EBIDTA Margin as % of Rental 83% 94% Mall Rental Rate (Rs. pspm) 80 83 Mall Consumption (Rs. cr) 139 357 Mall Trading Density (Rs. pspm) 744 664 Mall Trading Occupancy (%)* 90
Slide 56: Phoenix Palladium Ahmedabad
Phoenix Palladium Ahmedabad (Rs. cr) Q3 FY24 9M FY24 Rental 23 65 CAM & Others 12 34 Total Income 35 99 Asset EBITDA 18 52 Asset EBIDTA Margin as % of Rental 76% 80% Mall Rental Rate (Rs. pspm) 132 138 Mall Consumption (Rs. cr) 144 317 Mall Trading Density (Rs. pspm) 1,298 1,082 Mall Trading Occupan
Slide 57: Phoenix Mall of the Millennium
Phoenix Mall of the Millennium (Rs. cr) Q3 FY24 9M FY24 Rental 27 34 CAM & Others 11 15 Total Income 38 49 Asset EBITDA 22 27 Asset EBIDTA Margin 81% 79% as % of Rental Mall Rental Rate 141 134 (Rs. pspm) Mall Consumption 147 178 (Rs. cr) Mall Trading Density 1,185 1,129 (Rs. pspm) Mall Trading Occu
Slide 58: Phoenix Mall of Asia
Phoenix Mall of Asia (Rs. cr) Q3 FY24 Rental 23 CAM & Others 11 Total Income 34 Asset EBITDA 21 Asset EBIDTA Margin 89% as % of Rental Mall Rental Rate 185 (Rs. pspm) Mall Consumption 141 (Rs. cr) Mall Trading Density** 1,691 (Rs. pspm) Mall Trading Occupancy 49% (%)* Note: Reported EBITDA is before
Slide 59: Gross Debt across Subsidiaries as on 31st December 2023
Gross Debt across Subsidiaries as on 31st December 2023 Asset Type SPV Asset Name PML Ownership (%) Q2 FY24 (Rs. Cr) Q3 FY24 (Rs. Cr) The Phoenix Mills Ltd. (Standalone) Phoenix Palladium, Mumbai 100.0% 647 631 Classic Mall Development Phoenix MarketCity, Chennai 100.0% 391 407 Vamona Developers Pho
Slide 60: 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 61: 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 62: 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 61