External broker reports(aggregated public sources), ICICI Securities Ltd

ICICI Securities Limited

External broker reports(aggregated public sources)

ICICI Securities Ltd

ICICI Securities Limited provides investment services. The Company provides corporate and investment banking, securities, wealth management, retail brokerage, initial public offerings, and advisory services. 

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Equity Bottom-Up

<p>As per company, The Phoenix Mills (PHNX) has clocked mall consumption of Rs6.6bn in Nov’21 which is 116% of Nov’19 levels and Rs6.7bn in Oct’21 which is 91% of Oct’19 levels. While the threat of a fresh round of Covid induced mall closures remains a risk, we expect mall rentals to revert to pre-Covid levels by Q4FY22 as consumption continues to improve.</p><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

As per company, The Phoenix Mills (PHNX) has clocked mall consumption of Rs6.6bn in Nov’21 which is 116% of Nov’19 levels and Rs6.7bn in Oct’21 which is 91% of Oct’19 levels. While the threat of a fresh round of Covid induced mall closures remains a risk, we expect mall rentals to revert to pre-Covid levels by Q4FY22 as consumption continues to improve.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Consumption revives, capital position a bulwark

<p>PML rental income in Q4FY21 at Rs 216.6 crore was at ~97% of Q4FY20 and up 23% QoQ. FY21 rentals at Rs 563 crore was ~55% of FY20. Additionally, retail collections witnessed sharp improvement (up 42% QoQ) at Rs 370 crore during Q4FY21. Currently, consumption, footfall remained impacted by lockdowns led closure and PML expects to resume discussions with retailers close to reopening. However, it remains confident that recovery could be much quicker post reopening.</p><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

PML rental income in Q4FY21 at Rs 216.6 crore was at ~97% of Q4FY20 and up 23% QoQ. FY21 rentals at Rs 563 crore was ~55% of FY20. Additionally, retail collections witnessed sharp improvement (up 42% QoQ) at Rs 370 crore during Q4FY21. Currently, consumption, footfall remained impacted by lockdowns led closure and PML expects to resume discussions with retailers close to reopening. However, it remains confident that recovery could be much quicker post reopening.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

PHOENIXLTD: PML rental income in Q4FY21 at Rs 216.6 crore was at ~97% of Q4FY20 and up 23% QoQ

India

Phoenix Mills Ltd. is engaged, directly and through its subsidiaries and investments in the business of ownership, management, and development of large-format retail-led mixed use properties. The Company's properties include shopping, entertainment, commercial, residential, and hospitality properties. Phoenix Mills owns and operates High Street Phoenix Center in Mumbai.

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Phoenix Mills (PHNX IN)

Consumption revives, capital position a bulwark

As per company, The Phoenix Mills (PHNX) has clocked mall consumption of Rs6.6bn in Nov’21 which is 116% of Nov’19 levels and Rs6.7bn in Oct’21...

ICICI Securities Limited

PHOENIXLTD: PML rental income in Q4FY21 at Rs 216.6 crore was at ~97% of Q4FY20 and up 23% QoQ

PML rental income in Q4FY21 at Rs 216.6 crore was at ~97% of Q4FY20 and up 23% QoQ. FY21 rentals at Rs 563 crore was ~55% of FY20. Additionally,...

ICICI Securities Limited

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