Phoenix Mills Ltd. · NSE:PHOENIXLTD
Phoenix Mills — The Phoenix Mills — Investor Presentation (August 2023)
99 slides from Phoenix Mills's investor presentation, Aug 16, 2023
Slide 1: Corporate presentation cover 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 August 16, 2023 BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers Exchange
Slide 2: Corporate Presentation August 2023
Phoenix Citadel, Indore The Phoenix Mills Ltd. GLA: ~1 million sq. ft. Corporate Presentation August 2023 PROMISE | PERFORMANCE | INSPIRATION
Slide 3: India's largest retail mall owner and operator with ~14 msft retail GLA by FY27
India’s largest retail mall owner and operator with ~14 msft retail GLA by FY27… ~11 GLA across 13 GLA of ~3 operational RETAIL under-development & msft* msft malls in 8 cities under-planning RETAIL Leased occupancy EBITDA margin >100% across operational ~97% in Retail Malls malls Retail Rental CAGR
Slide 4: Consumption CAGR at Phoenix Malls of 14% from FY13 to FY23
Rental Consumption CAGR at Phoenix Malls of 14% from FY13 to FY23. 20% like-to-like growth in consumption post covid Like to like New Malls CAGR: 10.1 14% GROWTH 20% 82.4 69.3 63.2 25.7 FY13 FY18 FY20 FY23 Consumption data is in INR billion Source: Company information 3
Slide 5: Retail Rental Income CAGR of 13% from FY13 to FY23
Retail Rental Income CAGR at Phoenix Malls of 13% from FY13 to FY23. 15% like-to-like growth in Rental Income post covid Like to like New Malls CAGR: 13% 1.4 GROWTH 15% 11.7 10.2 8.7 4.0 FY13 FY18 FY20 FY23 Consumption data is in INR billion Source: Company information 4
Slide 6: Retail EBITDA CAGR of 14% from FY13 to FY23
Retail EBITDA at Phoenix Malls of 14% from FY13 to FY23. 22% like-to-like growth in EBITDA post covid Like to like New Malls CAGR: 14% 1.4 GROWTH 22% 11.9 9.8 7.8 3.5 FY13 FY18 FY20 FY23 Consumption data is in INR billion Source: Company information 5
Slide 7: FY23 consumption across entire spectrum of discretionary wallet spend
FY 23 - Consumption across entire spectrum of discretionary wallet spend Consumption Mix – FY 23 Trading Area Growth FY23 Vs FY20 Fashion & Accessories 51% 54% 35% Electronics 13% 4% 34% Jewellery 11% 1% 138% Food & Beverages 10% 9% 37% FEC & Multiplex 4% 14% 31% Gourmet & Hypermarket 2% 7% -49% Oth
Slide 8: Q1 FY24 consumption across entire spectrum of discretionary wallet spend
Q1 FY 24 - Consumption across entire spectrum of discretionary wallet spend Consumption Mix – Q1 FY 24 Trading Area Q1 FY24 Vs Q1 FY23 Fashion & Accessories 51% 55% 17% Electronics 12% 4% 2% Jewellery 11% 1% 31% Food & Beverages 11% 9% 24% FEC & Multiplex 4% 14% 3% Gourmet & Hypermarket 3% 7% 88% Ot
Slide 9: Adding sustainable, futuristic and urban workspaces to anchor retail destinations
… adding sustainable, futuristic and urban workspaces to anchor our existing retail destinations ~3 GLA across 8 office GLA under-development ~4 msft* spaces in 3 cities and under-planning office msft spaces ~2.81 New leasing Renewal leasing ~1.50 lakh sft in FY23 in FY23 lakh sft Rental Income Grow
Slide 10: Promises delivered – doubling of retail portfolio
Promises delivered – doubling of retail portfolio PROMISE | PERFORMANCE | INSPIRATION Segments 2018 2023 2027 Retail 5.9 msft ~2x 11.1 msft* >14 msft Offices 1.3 msft 3.0 msft** >7 msft Hotel 588 keys 588 keys 988 keys *Includes Phoenix Mall of the Millenium (Pune), and Phoenix Mall of Asia (Bangalo
Slide 11: Strong performance over the last decade
Strong performance over the last decade PROMISE | PERFORMANCE | INSPIRATION ~4x ~3x Consumption grew from Retail Rentals grew from Rs. 2,520 cr in FY13 to Rs. 393 cr in FY13 to Rs. 9,248 cr in FY23 Rs. 1,313 cr in FY23 ~6x Rs. 1,404 cr Consolidated Operational EBITDA grew Operational FCF (post inter
Slide 12: Growing with Prudence
Growing with Prudence 11
Slide 13: Reducing net debt levels while investing in new projects
Reducing net debt levels while investing in new projects PROMISE | PERFORMANCE | INSPIRATION Net Debt (Rs. Cr) Cumulative capex spent (Rs. Cr) 4,263 6,749 Down by Up by Rs. 1,981 Cr Rs. 4,499 Cr 2,282 2,250 Mar-20 Mar-23 Mar-20 Mar-23 12
Slide 14: Raised equity capital of ~Rs. 4,873 cr between Aug 2020 to Dec 2021
Raised equity capital of ~Rs. 4,873 cr between Aug 2020 to Dec 2021 PROMISE | PERFORMANCE | INSPIRATION What? When? How much? Qualified Institutional August 2020 ~Rs. 1,100 cr Placement (QIP) JV with CPPIB for Kolkata May 2021 ~Rs. 384 cr Development Equity Infusion in existing retail May 2021 & Dec
Slide 15: Strategic Partnerships driving next leg of growth: PML CPPIB Alliance
Strategic Partnerships driving next leg of growth: PML CPPIB 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 Mall of the
Slide 16: Strategic Partnerships driving next leg of growth: PML GIC Alliance
Strategic Partnerships driving next leg of growth: PML GIC Alliance Phoenix MarketCity, Pune Phoenix Marketcity, Kurla Surat ▪ FY20 NOI of ~Rs. 370 cr ▪ Enterprise Value of ~Rs. 5,500 cr ▪ Capital infused by GIC of ~Rs. 1,500 cr ▪ GIC’s equity stake – 33% ▪ Capital infusion to fund potential acquisi
Slide 17: Debt and Cash Position as on 30th June 2023
Debt and Cash Position as on 30th June 2023 PROMISE | PERFORMANCE | INSPIRATION Group Level PML Share Amount Rs. cr Liquidity (Bank balance + Rs 1,873 Cr Rs 1,427 Cr Investments + DSRA)*^ Gross Debt Rs 4,050 Cr Rs 3,056 Cr Net Debt Rs 2,177 Cr Rs 1,629 Cr Q1 FY24 EBITDA^ Rs 499 Cr Rs 405 Cr * Does n
Slide 18: Focus on optimizing debt levels and cost of debt
Focus on optimizing Debt levels and cost of debt Parameter FY20 FY23 Outcome Net Debt Rs. 4,263 cr Rs. 2,282 cr 46% Net Debt to 66% 4.2x 1.4x EBITDA Interest Coverage 2.4x 4.1x 71% Ratio 17
Slide 19: Optimizing cost of debt by reducing spread over benchmark rate
Focus on optimizing cost of debt by reducing spread over benchmark rate PROMISE | PERFORMANCE | INSPIRATION Effective cost of debt reduced by ~32 bps 9.19% 8.74% 8.87% 8.17% 7.89% 7.30% Spread: 216 bps Spread: 479 bps 6.50% 6.50% 5.90% 4.40% 4.00% 4.00% Mar-20 Mar-21 Mar-22 Sep-22 Mar-23 Jun-23 Cost
Slide 20: Gross debt declined by Rs 523 Cr since March 2020
Gross debt declined by Rs 523 Cr since March 2020 PROMISE | PERFORMANCE | INSPIRATION Debt on Operational Portfolio (Rs. cr) 4,457 4,177 4,019 4,002 3,942 3,723 Mar-20 Mar-21 Mar-22 Sep-22 Mar-23 Jun-23 Debt on Under Construction Portfolio (Rs. cr) Debt of Phoenix Citadel and 554 531 Phoenix Palladi
Slide 21: City Center Destinations
City Center Destinations 20
Slide 22: Developer of India's Iconic Mixed-Use Developments
Developer of India’s Iconic Mixed-Use Developments Phoenix MarketCity, Mumbai + Offices Upcoming Phoenix Mall of Asia + Upcoming Phoenix Mall of the Millennium + Millennium (Centrium, PPP and Art Guild House) Asia Towers (Offices) Hebbal, Bangalore Towers (Office), Wakad, Pune Actual Phoenix Palladi
Slide 23: City Center Developments – Synergy Across Asset Classes
City Center Developments – Synergy Across Asset Classes PROMISE | PERFORMANCE | INSPIRATION Phoenix Phoenix Workspaces - The St. Regis Hotel Workspaces - Grand Hyatt Art Exchange Project Rise Offices Phoenix MarketCity Palladium Mall Mall FLAGSHIP AT LOWER PAREL - MUMBAI WHITEFIELD - BANGALORE 1.4 m
Slide 24: The City Center in South Bombay - Phoenix Palladium
The City Center in South Bombay - Our flagship asset - Phoenix Palladium • All approvals in place to expand Retail GLA from ~0.77 msft to ~1.40 msft • ~150,000 sft of retail GLA - August 2022 • ~250,000 sft of retail GLA - 2024 Retail + Office Expansion Retail + Office Expansion • ~200,000 sft of re
Slide 25: Phoenix Palladium Mumbai
Phoenix Palladium Mumbai Lower Parel, Mumbai Photo shot at location Photo shot at location 24 24
Slide 26: Phoenix Palladium consumption and rental income growth
Phoenix Palladium Mumbai Lower Parel, Mumbai Consumption ~2x to Rs. 2,135 cr between FY13 – FY23 Retail Rental Income ~2x to Rs. 382 cr between FY13 – FY23 Leasable Area for renewal 78% of GLA is up for renewal by FY27 25
Slide 27: Project Rise – office-led mixed use development
Project Rise – office-led mixed use development - the Jewel in the Phoenix crown – construction commenced Office GLA: ~1.1 msft Retail GLA: ~0.20 msf Indicative Render Indicative Render 26
Slide 28: The St. Regis, Mumbai
The St. Regis, Mumbai Lower Parel, Mumbai Photo shot at location The St. Regis, Mumbai The best address 27
Slide 29: The St. Regis Mumbai revenue and EBITDA growth
The St. Regis, Mumbai Lower Parel, Mumbai Revenue ~5x to Rs. 404 cr between FY13 – FY23 EBITDA ~15x to Rs. 180 cr between FY13 – FY23 ARR 78% as of July 2023 28
Slide 30: Case Study – Mumbai City (Lower Parel) Center Densification
Case Study – Mumbai City (Lower Parel) Center Densification – Phoenix Palladium + St. Regis PROMISE | PERFORMANCE | INSPIRATION Rise Retail & 404 Rise Offices to Hotel commences 309 lead the next operations 252 phase of growth 16 284 341 382 182 FY13 FY17 FY20 FY23 City Center Retail Revenue Hotel R
Slide 31: Phoenix MarketCity Mumbai
The City Centre of Suburban Mumbai Kurla, Mumbai 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 30
Slide 32: Phoenix MarketCity Mumbai Kurla
Phoenix MarketCity Mumbai Kurla, Mumbai Photo shot at location 31
Slide 33: Phoenix MarketCity Mumbai consumption and rental growth
Phoenix MarketCity Mumbai Kurla, Mumbai Consumption ~4x to Rs. 1,026 cr between FY13 – FY23 Retail Rental Income ~2x to Rs. 147 cr between FY13 – FY23 Leasable Area for renewal 57% of GLA is up for renewal by FY27 32
Slide 34: Case Study – Mumbai City (Kurla) Center Densification
Case Study – Mumbai City (Kurla) Center Densification – PMC Mumbai + Centrium + Art Guild House + Phoenix Paragon Plaza PROMISE | PERFORMANCE | INSPIRATION 119 Kurla Offices – 107 AGH, Centrium & PPP launched 79 127 147 76 93 FY13 FY17 FY20 FY23 City Center Retail Revenue Office Revenue 10-year Asse
Slide 35: The City Centre in the Garden City, Whitefield Bangalore
The City Centre in the Garden City Whitefield, Bangalore Retail expansion GLA- ~0.20 msft and ~17 screen multiplex Proposed Office Towers – GLA - ~1.10 msft Proposed Grand Hyatt Hotel Upto 400 Keys Existing Mall GLA - ~1 msft Indicative Render 34
Slide 36: Phoenix MarketCity Bangalore
Phoenix MarketCity Bangalore Whitefield, Bangalore Photo shot at location 35
Slide 37: Phoenix MarketCity Bangalore consumption and rental growth
Phoenix MarketCity Bangalore Whitefield, Bangalore Consumption ~5x to Rs. 1,796 cr between FY13 – FY23 Retail Rental Income ~3x to Rs. 191 cr between FY13 – FY23 Leasable Area for renewal 73% of GLA is up for renewal by FY27 36
Slide 38: ISML Offices Bangalore
ISML Offices Bangalore Whitefield, Bangalore Indicative Render ✓Office GLA: ~1.10 msft ✓Excavation under progress 37
Slide 39: The City Center in the Cultural Hub of Maharashtra, Pune
The City Center in the Cultural Hub of Maharashtra Vimannagar, Pune Phoenix MarketCity + Fountainhead Offices 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 norms and is subject to change ba
Slide 40: Phoenix MarketCity Pune
Phoenix MarketCity Pune Vimannagar, Pune Photo shot at location 39
Slide 41: Phoenix MarketCity Pune consumption and rental growth
Phoenix MarketCity Pune Vimannagar, Pune Photo shot at location Consumption ~3x to Rs. 1,537 between FY13 – FY23 Retail Rental Income ~3x to Rs. 197 cr between FY13 – FY23 Leasable Area for renewal 63% of GLA is up for renewal by FY27 40
Slide 42: Fountainhead Office Towers (1, 2 and 3) Vimannagar, Pune
Fountainhead Office Towers (1, 2 and 3) Vimannagar, Pune Photo shot at location • Offices seamlessly connected with the mall • 10,000+ office goers on everyday basis, boosting captive consumption audience Indicative Render • Existing Mall GLA: ~1.20 msft • Planning addition of ~200,000 sft of Retail
Slide 43: Fountainhead Office Towers - Significantly accretive incremental yields
Fountainhead Office Towers - Significantly accretive incremental yields Grade A Scalable Office Spaces City centric location – Viman Nagar An expansion of Pune’s most prominent mixed-use development – PMC Pune Render of Phoenix Fountainhead Tower 2 – Lobby Phoenix Fountainhead ~Rs. 3,700 psf Develop
Slide 44: Case Study – Pune City Center Densification
City Center - Mixed Use Case Study – Pune City Center Densification – PMC Pune + Fountainhead Offices PROMISE | PERFORMANCE | INSPIRATION 35 15 FH Towers FH Tower 3 FH Tower 1 2&3 leasing pace launched launched picks up 197 167 120 64 FY13 FY17 FY20 FY23 City Center Retail Revenue Office Revenue 10-
Slide 45: The City Center in the Cultural Hub of Tamil Nadu, Chennai
The City Center in the Cultural Hub of Tamil Nadu Velachery, Chennai GLA is an estimate based on current plans and market/company norms and is subject to change based on changes in development plans and tenant negotiations. 44
Slide 46: Phoenix MarketCity and Palladium Chennai
Phoenix MarketCity and Palladium Chennai Velachery, Chennai Photo shot at location Photo shot at location Indicative Render 45
Slide 47: Phoenix MarketCity Chennai consumption and rental growth
Phoenix MarketCity and Palladium Chennai Velachery, Chennai Consumption ~2x to Rs. 1,335 cr between FY14 – FY23 Retail Rental Income ~2x to Rs. 193 cr between FY14 – FY23 Leasable Area for renewal 54% of GLA is up for renewal by FY27 46 46
Slide 48: Palladium Offices Velachery, Chennai
Palladium Offices Velachery, Chennai Photo shot at location ✓Office GLA: ~0.42 msft ✓Construction commenced ✓Completion targeted in FY25 50% of GLA is up for renewal by FY22 47
Slide 49: The Largest Retail led Mixed-use development in Bangalore
Our Second City Center at Bangalore Hebbal, Bangalore Phoenix Mall of Asia + Asia Towers (Offices) The Largest Retail led Mixed-use development in Bangalore Indicative Render 48
Slide 50: Phoenix Mall of Asia – Opening Soon
Phoenix Mall of Asia – Opening Soon Hebbal, Bangalore Photo shot at location ✓ Retail GLA: ~1.20 msft ✓ Occupation certificate received for Retail portion (mall and multiplex) ✓ Over 214 stores / ~0.70 msft currently under fit-out 49
Slide 51: Phoenix Mall of Asia – Captivating Interiors taking shape
Phoenix Mall of Asia – Captivating Interiors taking shape Hebbal, Bangalore Indicative Render Photo shot at location 50
Slide 52: The largest retail led mixed-use development in Bangalore, Hebbal
The largest retail led mixed-use development in Bangalore Hebbal, Bangalore ▪ Retail GLA of ~1.20 msft ▪ Anchored by offices of ~1.20 msft* ▪ Part of an integrated campus – ~4,000 homes; ~4msft office space ▪ Multiple grand arrivals, over 40 open plan restaurants, indoor fan Park Indicative Render I
Slide 53: Phoenix Asia Towers – Offices on top of the mall
Phoenix Asia Towers – Offices on top of the mall Hebbal, Bangalore ✓ Office GLA: • Phase 1: ~0.80 msft • Phase 2: ~0.40 msft ✓ First phase of offices to be operational in FY24 ✓ Lobby and common area finishing, and façade work underway 52
Slide 54: Phoenix Asia Towers – Offices on top of the mall
Phoenix Asia Towers – Offices on top of the mall Hebbal, Bangalore Indicative Render Indicative Render 53
Slide 55: Our Second City Center in Pune, Wakad
Our Second City Center in Pune Wakad, Pune 54
Slide 56: Pune's newest city center destination, Wakad
Pune’s newest city center destination Wakad, Pune ▪ Retail GLA of ~1.20 msft ▪ Anchored by offices of over 1msft ▪ Open plan restaurants; eclectic F&B village; indoor Fan park ▪ 14 screen megaplex ▪ Grand arrival and luxury boulevard Indicative Render 55
Slide 57: Phoenix Mall of the Millenium – Opens on 1 September 2023
Phoenix Mall of the Millenium – Opens on 1 September 2023 Wakad, Pune Photo shot at location ✓ Retail GLA: ~1.10 msft ✓ Office GLA: ~1.20 msft ✓ Occupation certificate received for Retail mall portion ✓ Over 170 stores currently under fit-out 56
Slide 58: Phoenix Mall of the Millenium – Future splendor in making
Phoenix Mall of the Millenium – Future splendor in making Wakad, Pune Indicative Render Photo shot at location 57
Slide 59: Integrated with Commercial Office Towers
Integrated with Commercial Office Towers Wakad, Pune Indicative Render Indicative Render 58
Slide 60: Millennium Towers Wakad, Pune
Millennium Towers Wakad, Pune ✓ Office GLA: ~1.20 msft ✓ Expected year of operation: FY25 ✓ Construction commenced for 2 of 4 office towers ✓ Slab shuttering and reinforcement work in progress for Tower 1 A and Tower 1 B ✓ Slab completed upto 13th floor for Tower 2 A and upto 8th floor for Tower 2 B
Slide 61: Destination consumption hubs for the city
Destination consumption hubs for the city ✓ City center retail developments 60
Slide 62: A palatial retail experience spread over 15 acres
A palatial retail experience spread over 15 acres (delivered) Indicative Render 61
Slide 63: The only mall delivered during the pandemic
The only mall delivered during the pandemic Photo shot at location 62
Slide 64: From brownfield acquisition to launch in 2 years
From brownfield acquisition to launch in 2 years Photo shot at location 63
Slide 65: Breathtaking interiors
Breathtaking interiors Actual Photo Actual Photo 64
Slide 66: Interior shots
Interior shots Actual Photo Actual Photo 65
Slide 67: Case Study: Phoenix Palassio hitting TD of INR 1,000 pspm in 2nd full year
Case Study: Phoenix Palassio hitting TD of INR 1,000 pspm in 2nd full year of Operations compared to 3-6 years taken by PMC Malls TD of over Rs. 1,000 Phoenix pspm achieved in 2nd Palassio full year of operations PMC Bangalore PMC Pune TD of over Rs. 1,000 pspm achieved in full operational year PMC
Slide 68: Case Study: Attractive starting yields on Phoenix Palassio
Case Study: Attractive starting yields on Phoenix Palassio MarketCity malls are currently Retail GLA of ~0.9 msft* in second leg of this growth 200 ~99% leased occupancy* Lease renewal at FY23 Trading Density – ~Rs. 1,333 pspm Rent PSF (Rebased to 100) 180 significantly higher rates FY23 rental rate
Slide 69: The Retail destination of Madhya Pradesh – Gates Opened on 1 December 2022
The Retail destination of Madhya Pradesh – Gates Opened on 1 December 2022! Indicative Render 68
Slide 70: Our statement of intent in Central India
Our statement of intent in Central India Actual Photo 69
Slide 71: Phoenix Citadel Indore features
Opulent Grand Arrivals, Venetian inspired Chandeliers & Glasswork Photo shot at location ✓ Retail GLA of ~1 msft ✓ Landscaped gardens, spectacular musical fountains ✓ Interiors inspired by the beauty of Italy ✓ Over 300 national and international brands ✓ Over 100 first time brands in Indore ✓ 1,30,
Slide 72: Grand interiors
Grand interiors Photo shot at location 71
Slide 73: Performance Update
Performance Update Actual Photo Photo shot at location Ramp up in Trading Occupancy 87% 86% 70% 42% Actual Photo Dec-22* Mar-23 Jun-23 Jul-23 Actual Actual Photo Photo Actual Photo Photo shot at location *Operations commenced on 01-Dec-22 72
Slide 74: Sustainability updates
Sustainability updates Actual Photo ✓ Received the USGBCTM LEED Gold Certification ✓ First retail asset in India to achieve the IFC Edge Advanced Certification ✓ Efficiency details as per IFC Edge Advanced Certificate: ✓ 44% Energy saving ✓ 61% Water saving ✓ 52% less embodied energy in material ✓ 5
Slide 75: The Luxury Retail Destination of Gujarat – Gates Opened on 26 February 2023
The Luxury Retail Destination of Gujarat – Gates Opened on 26 February 2023 Indicative Render 74
Slide 76: Unveiling Gujarat's newest luxury shopping destination
Unveiling Gujarat’s newest luxury shopping destination Actual Photo Actual Photo 75
Slide 77: Timeless luxury at Phoenix Palladium Ahmedabad
Timeless luxury at Phoenix Palladium Ahmedabad Photo shot at location ▪ Consumption hub in the heart of the City - located on SG highway. ▪ Over 250 national and international brands. ▪ Over 35 luxury brands like TUMI, Michael Kors, Kate Spade, Coach etc. for the first time in Ahmedabad. ▪ 50 exquis
Slide 78: Our offering to Gujarat's discerning shoppers
Our offering to Gujarat’s discerning shoppers Photo shot at location Actual Photo Photo shot at location 77
Slide 79: Performance Update
Performance Update Photo shot at location Ramp up in Trading Occupancy 68% 60% 43% 32% Feb-23* Mar-23 Jun-23 Jul-23 *Operations commenced on 26-Feb-23 78
Slide 80: Alipore, Kolkata: East India's retail destination – Excavation commenced
Alipore, Kolkata: East India’s retail destination – Excavation commenced Retail GLA: ~1 msf with additional development potential Indicative Render 79
Slide 81: Surat – our 2nd retail destination in Gujarat
Surat – our 2nd retail destination in Gujarat ✓ Land parcel of ~ 7 acres acquired at a land cost of ~Rs. 501 cr (incl stamp duty). ✓ Planned Retail GLA of ~1msf ✓ Located at the Citylight Junction, Udhana Magdalla Road. ✓ Serves prominent residential catchment, and also fast emerging residential hub
Slide 82: City Center Retail Destination – Life Cycle of Yield on Total Capital Employed
City Center Retail Destination – Life Cycle of Yield on Total Capital Employed PROMISE | PERFORMANCE | INSPIRATION Flagship Asset MarketCity Portfolio New Age Asset Operational since early 2000s Operational since early 2013 Phoenix Palassio - Operational since FY21 Operational Asset Level Operationa
Slide 83: Retail target cities beyond 2027
Retail target cities beyond 2027 Priority Cities Under early evaluation Jaipur Chandigarh Nagpur Vishakapatnam NCR Navi Mumbai Goa Coimbatore Trivandrum Hyderabad Thane Cochin and Varanasi 82
Slide 84: Residential Development
Residential Development • 9 Towers - One Bangalore West • Towers 1 to 6 – OC received • Tower 7 – Under construction • Towers 8, 9 – Under Planning • 5 Towers – Kessaku • OC received for all Indicative Render 83
Slide 85: Update on other projects: Residential & Warehousing
Update on other projects: Residential & Warehousing Residential Warehousing HIDCO, Alipore Sohna , NCR ✓ Won auction for 5.5 acres prime land parcel ✓ Acquired 33 acres land parcel ✓ Land cost of ~Rs. 414 cr ✓ Land cost of ~Rs. 54 cr ✓ Saleable area of ~1 msft ✓ GLA of ~1 msft Project Status: Projec
Slide 86: Sustainability Initiatives
Sustainability Initiatives 85
Slide 87: Environment conscious efforts implemented
Environment conscious efforts implemented 25% energy consumption of the EV Charging Stations Offsite renewable energy plants retail portfolio through installed across retail For 5 of the assets in the portfolio renewable sources in FY 23 portfolio Professional Vendors for Zero Liquid discharge facil
Slide 88: Environment conscious efforts implemented – Renewable Energy
Environment conscious efforts implemented – Renewable Energy 16,512 tCO2e REDUCTION ~17 mn UNITS OF SOLAR ENERGY PROCURED ~89% FY23 ENERGY NEED MET THROUGH SOLAR ~273,027 TREE SAPLINGS OVER 10 YEARS* REDUCTION EQUIVALENT TO TREES PLANTED Phoenix MarketCity Bangalore *Based on US Environment Protecti
Slide 89: Environment conscious efforts implemented – Renewable Energy
Environment conscious efforts implemented – Renewable Energy 6,636 tCO2e REDUCTION ~7 mn UNITS OF SOLAR ENERGY PROCURED ~52% FY23 ENERGY NEED MET THROUGH SOLAR ~109,727 TREE SAPLINGS OVER 10 YEARS* REDUCTION EQUIVALENT TO TREES PLANTED Phoenix MarketCity Pune *Based on US Environment Protection Agen
Slide 90: Environment conscious efforts implemented – Renewable Energy
Environment conscious efforts implemented – Renewable Energy 3,766 tCO2e REDUCTION ~4 mn UNITS OF SOLAR ENERGY PROCURED ~24% FY23 ENERGY NEED MET THROUGH SOLAR ~62,271 TREE SAPLINGS OVER 10 YEARS* REDUCTION EQUIVALENT TO TREES PLANTED Phoenix MarketCity Mumbai *Based on US Environment Protection Age
Slide 91: Environment conscious efforts underway
Environment conscious efforts underway ~50% of the portfolio to be Studies underway USGBC LEED Certified by 2027 Retail Assets Target Certification Phoenix Mall of the Millennium, Pune Phoenix Mall of Asia, Bangalore USGBC LEED Gold Retail Development, Kolkata PMC Bangalore (Operational) Operational
Slide 92: CSR at Phoenix - Cherishing our Environment and Society
CSR at Phoenix - Cherishing our Environment and Society India’s most prolific Water Conservation Initiative through: 62 Education of Tribal Girls Support to Farmers CHECK DAMS BUILT IN FY23 ~ Rs. 2,000 cr ANNUAL NET EARNINGS OF THE VILLAGES IMPACTED IN FY23 ~ 822 ~ 13 lakh VILLAGES IMPACTED LIVES TR
Slide 93: CSR at Phoenix - Cherishing our Environment and Society
CSR at Phoenix - Cherishing our Environment and Society Why Check Dams? Buddha Buddhi Village, Bihar Total Check dams Arrest Surface runoff and 1 recharge ground water 604 2 Rejuvenate the ecology Safeguard the area from Before: Income of ~Rs. 3 cr 3 droughts Increase crop growing 4 potential Impact
Slide 94: CSR at Phoenix - Select Collaborative Efforts over the years
CSR at Phoenix - Cherishing our Environment and Society Select Collaborative Efforts over the years Apna Ghar Gram Mangal Friends of Tribals Ramkrishna Provides medical care Provides quality Society Mission and rehabilitation education to students Upliftment of tribals – Shilpamandira services from
Slide 95: Empowering inclusion
Empowering inclusion 55 Differently Abled Employees 5x Increase in Differently Abled Employees vis-à-vis FY23 Special training: Life skills Language skills Soft skills Ishaara (PML owned F&B restaurant) Awarded for ‘Best Etiquette Employer for Persons with Disability’ by The National Society for Equ
Slide 96: Empowering development and gender diversity
Empowering development and gender diversity 24 Long service awards across the company Over 7 years Tenure of Senior Leadership in the company ~16% Female Employees in the workforce 13% Women part of Senior Leadership Women’s Day Celebration at The Phoenix Mills Limited 95
Slide 97: Adding Pillars of Governance & Experience to the Board
Adding Pillars of Governance & Experience to the Board New Board Member* Mr. Atul Ruia Mr. Shishir Shrivastava Mr. Rajesh Kulkarni Mr. Rajendra Kalkar Ms. Rashmi Sen Chairman Managing Director Whole Time Director & Director Whole Time Director & President Whole Time Director & COO – Projects Deliver
Slide 98: Adding Pillars of Governance & Experience to the Board
Adding Pillars of Governance & Experience to the Board Dr. Archana Hingorani Mr. Anand Khatau Mr. Sumeet Anand Ms. Rashmi Sen Independent & Non- Independent & Non- Independent & Non- Whole Time Director & Executive Director Executive Director Executive Director COO - Retail ✓ Managing Partner at Sia
Slide 99: Thank you
Phoenix MarketCity Mall, Vimannagar, Pune Thank you GLA: ~1.2 million sq. ft. Website: https://www.thephoenixmills.com/investors 98
The Phoenix Mills — Investor Presentation (August 2023) on 6ix