Phoenix Mills Q4 Review - Healthy Performance: ICICI Direct

A shopper rides an escalator at a mall.  (Photographer: Anita Pouchard Serra/Bloomberg).

Phoenix Mills Q4 Review - Healthy Performance: ICICI Direct

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BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

ICICI Direct Report

The key highlight for Phoenix Mills Ltd. was consumption recovery at retail malls.

During Q4 FY21, total consumption was at Rs 1,435 crore (up 5% QoQ; at ~100% (~94% on like to like basis) of Q4 FY20).

Reported revenues de grew ~3.4% YoY to Rs 385.9 crore, with core portfolio (commercial, retail, hospitality) revenues down ~14.7% YoY to Rs 329.5 crore, dragged by weak hospitality performance (down ~66% YoY).

Reported Ebitda margin were down 620 basis points YoY to 44.9%, given the higher mix of residential revenues.

Click on the attachment to read the full report:

ICICI Direct Phoenix Mills Q4FY21 Result Update.pdf

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