- 09 Apr 2025
- ICICIdirect Research
RETAIL CONSUMPTION ACROSS ALL OPERATIONAL MALLS GREW 15 PERCENT YOY TO RS 3262 CRORE
PHOENIXLTD - 1668 Change: 35.60 (2.18 %)News: Retail consumption across all operational malls grew 15% YoY to ₹ 3,262 crore, driven by ramp up in new malls and expansion of Palladium. FY25 retail consumption stands at ₹ 13,762 crore, up 21% YoY. On a like to like basis, consumption growth is 7% YoY. The hospitality segment showed improvement across key metrics. The St. Regis, Mumbai, achieved 92% occupancy in Q4 FY25, up from 88% in Q4FY24. Average room rate (ARR) rose to ₹ 23,542, up 11% YoY, while revenue per available room (RevPAR) climbed to ₹ 21,541, up 15%. Gross residential sales stand at ₹ 77 crore, collections at ₹ 54 crore in Q4. Gross residential sales at ₹ 212 crore and collections at ₹ 219 crore in FY25
View: We highlight that ramp up in new malls as well as expansion in key property of Palladium, continues to drive consumption growth recovery. We await management commmentary on growth ahead
Impact: Positive