Phoenix Mills Limited
Phoenix Mills Ltd is engaged in the operation & management of malls, construction of commercial & residential property and hotel business in India. India’s leading retail mall developer and operator with approximately 0.64 million square meters of retail space spread across 9 malls in 6 gateway cities of India. It has developed over 2.11 million square meters. The Phoenix Mills Ltd has carved a niche for itself in the Indian real estate sector, be it mega retail malls, entertainment complexes, commercial spaces or hospitality units.It’s operations span across most aspects of real estate development; planning, execution, marketing, management, maintenance & sales.
Shareholding Pattern
-PUBLIC GROUP
-PROMOTER GROUP
Financial Summary
| Particulars | March 2024 | March 2023 | March 2022 |
| Sales | 3,972 | 2,616 | 1,460 |
| Sales Growth % | 52% | 79% | 40% |
| Expenses | 1,790 | 1,096 | 725 |
| Operating Profit | 2,182 | 1,519 | 735 |
| OPM % | 55% | 58% | 50% |
| Net Profit | 1,333 | 1,478 | 268 |
| EPS in Rs | 30.76 | 37.37 | 6.65 |
Synopsis of Financials
- Q2 FY25 consolidated operating revenue reached ₹918 crores, a 5% YoY increase.
- EBITDA for Q2 FY25 stood at ₹518 crores, up 2% YoY.
- Excluding the residential business, operating revenue grew by 22% to ₹870 crores; EBITDA increased by 19% to ₹502 crores.
- H1 FY25 adjusted operating revenues reached ₹1,742 crores, up 23%, with EBITDA at a historic high of ₹1,027 crores, up 20% YoY.
Final Outlook
According to the IMF’s World Economic Outlook from April 2024, global economic growth for 2024 and 2025 is projected to stabilise at around 3.2 percent.The IMF’s World Economic Outlook for April 2024 forecasts a robust growth trajectory for India, with projected growth rates of 6.8% in 2024 and 6.5% in 2025 (based on calendaryear). The Indian real estate market is valued at around USD 300 billion, with a composition of80% residential and 20% commercial segments. Company FY2024 Consumption of retail portfolio reached an all-time-high of ` 11,344 crores in FY24, with a growth of 23% compared to FY23.. Total income from commercial offices increased by 12% to ` 190 crores in FY2024 vs. 170 crores in FY2023 and Asset EBITDA improved by 13% to ` 110 crores in FY2024 vs. ` 98 crores in FY2023. EBITDA Margins remained stable at 58%.TPML through its wholly owned subsidiary, Sparkle Two Mall Developers Private Limited acquired a prime land parcel located at the Majiwada Junction in Thane and TPML through its wholly owned subsidiary, Sparkle Two Mall Developers Private Limited acquired a prime land parcel located at the Majiwada Junction in Thane.Financial Overview of company are Income from Operations increased to ` 3,978 crore in FY2024, marking a 51% growth from FY2023. From a standalone perspective operating revenue stood at ` 466 Crore in FY2024, with a marginal decline of -2% over FY 2023.The consolidated EBITDA is ` 2,177 Crore in FY2024, reflecting a 43% growth over FY2023 and standalone basis, the EBITDA is 312 Crore, showing a marginal decline of 3% compared to FY2023. However, EBITDA margins have declined marginally by 300 basis points on the consolidated front.Current ratio is 1.5* in 2024 but Debt Equity ratio & Operating profit margin falls(-3%) and also Net profit margin falls from -22% . According to my perspective the stock of comapny shows a rise in their value and financials numbers of compnay also improve but negative net profit which is huge -22% is caution for company from above the information and comapny recent stock performance giving mix signal . my opinion is to hold the stock for somtime untill it gain its momemtum.
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