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Phoenix Mills Ltd share Price

Company details

1,783.85
1,910.00
1,186.40
1,910.00
6M Return 39.93%
1Y Return 30.06%
Mkt Cap.(Cr) 32,361.32
Volume 558,742
Div Yield 0.27%
OI
-
OI Chg %
-
Volume 558,742

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Retail/hospitality portfolio continues to shine...
Technical Outlook
    The retail space has seen rejuvenation of upward momentum after a couple of months breather. The Phoenix Mills is a key proxy of the retail theme and has been an outperformer in the recent market correction. It offers a fresh entry opportunity to ride the next leg of the up move based on following observations:-
    (a) The stock has resolved out of seven month’s consolidation (₹ 1195-885) indicating resumption of primary up trend
    (b) Structurally, up move since November 2020  has been confined within well defined upward sloping channel wherein on multiple occasions the stock bounced from 50-days EMA, highlighting buying demand at elevated support base
     
    We expect the stock to accelerate upward momentum and eventually head towards upper band of rising channel around ₹ 1420 in coming months
     
    On the oscillator front, weekly MACD has been inching northward while sustaining above its nine period average, highlighting acceleration of upward momentum
Fundamental Outlook
    Phoenix Mills Ltd (PML) is a leading retail mall developers and operators in India. It is into retail-led, mixed-use properties and has developed 17.5+ mn sq ft of retail, commercial, hospitality, and residential asset class. PML has an operational retail area of ~7 mn sq ft spread over nine operational malls and is developing ~6 mn sq ft of retail space. It has 2 mn sq ft operation in commercial segment and plans to add ~5 mn sq ft
     
    During Q1FY23, retail consumption was at ₹ 2159.6 crore (121% of Q1FY20), with like to like consumption at 109%. Commercial segment saw incremental leasing of 0.15 msf, highest ever in Q1. Additionally, occupancy levels for hospitality segment have come back to 85% vs. 83% in pre-Covid. In the residential space, the company achieved overall sales of ₹ 70.4 crore, up ~90% YoY, backed by strong demand and faster conversions. Also, collections in residential business in Q4FY22 were at ₹ 50 crore, up 38% YoY
     
    Over the medium term, we expect retail rental income to grow at a CAGR of ~13% to ₹ 1884 crore in FY20-25E. In the commercial space, leasing momentum is likely to continue in FY23 (already done gross leasing of 1.2 lakh sq ft during April-May 2022). Furthermore, healthy balance sheet and strategic expansion plan to add organic/inorganic retail assets are expected to continue to drive growth

    PML remains a quasi-play on India’s consumption story, given the quality of assets, healthy balance sheet and strategic expansion plans. The QIP fund raise/investments by GIC/CPPIB has boosted the liquidity and growth ammunition. With only five to six major retail mall developers currently in India and given its USP of operating large format properties efficiently, PML remains a superior player in the medium to long term

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Research view on more stocks

Realty firm Phoenix Mills declares Q3FY22 result:

  • Consumption in Q3 FY22 stood at ~Rs 20,703 mn, and in 9M FY22 stood at ~Rs 33,415 mn
  • Consumption in Q3 FY22 (incl. Phoenix Palassio) was ~100% of Q3 FY20
  • Consumption in 9M FY22 (incl. Phoenix Palassio) was ~60% of 9M FY20; Note: extended lockdown in Maharashtra between April to Sept impacted six months of consumption

 

 

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OUR RESEARCH VIEW

Trading recommendation

Call Date
09 Aug 2021
Entry Price 877.00
Target Price 1,020.00
Duration
Stop Loss -
Investment recommendation
Retail/hospitality portfolio continues to shine...
Call Date
09 Feb 2023
Entry Price 1,366.00
Target Price 1,650.00
Duration
12-18 Month

FINANCIALS

Sales
Operating Profit
Profit after Tax
Equity
Reserves and Surplus
Debt
Sales
Operating Profit
Profit after Tax
PE
Debt/Equity
P BV

Phoenix Mills Ltd Stocks COMPARISION

INSIDER & INSTITUIONAL ACTIVITY

Equity Capital: 8,379.76 Cr FV: 2.00

Period MF Net Purchase / (sold) FII Net
LAST 1M 19,117.66 -3,609.01
LAST 3M 37,244.98 8,192.34
LAST 6M 47,342.46 155,367.92
LAST 12M 134,407.88 155,858.29
The Phoenix Mills Limited - Analysts/Institutional Investor Meet/Con. Call Updates

Sep 21, 2023 l NSE Announcement

The Phoenix Mills Limited - Analysts/Institutional Investor Meet/Con. Call Updates

Sep 18, 2023 l NSE Announcement

The Phoenix Mills Limited - Analysts/Institutional Investor Meet/Con. Call Updates

Sep 15, 2023 l NSE Announcement

Date Action Type Ratio
Sep 15, 2023 Dividend 250
Sep 12, 2022 Dividend 120
Sep 16, 2021 Dividend 50

Phoenix Mills Ltd Information

Stock PE (TTM)
39.74
Promoter Holding
47.3%
Book Value
469.0996
ROCE
11.89%
ROE
12.6%
Description
  • Phoenix Mills Limited is India’s largest mix-used real estate developer. The company is involved in developing retail malls, entertainment complexes, movie theatres, and other types of commercial spaces. The company’s specialty includes several key aspects of real estate development, including construction, planning, marketing, and management. The company has real estate assets across India but especially in Mumbai. The company’s headquarters are in Mumbai, Maharashtra.

    On 5 January 2023, the market capitalisation of the company was Rs 25,164.21 crore. It reported consolidated sales of Rs 283.6 crore at the end of September 2022. The total income of the company during the financial year 2022 was Rs 1,483.48 crore. The company is listed on the Bombay Stock Exchange with the code 503100 and listed on the National Stock Exchange (NSE) as PHOENIXLTD. 

    Atul Ruia is the managing director of the company. Shishir Shrivastava, Rajendra Kalkar, Rajesh Kulkarni, Amit Dabriwala, and Amit Dalal are the other directors, and Anuraag Srivastav is the chief financial officer of the company. DTS & Associates LLP are its auditors.

    On 5 January 2023, Phoenix Mills Limited’s share price on Rs 1415.6 on the BSE and Rs 1415.1 on the NSE. The share price touched a 52-week high of Rs 1,624.00 and a 52-week low of Rs 885.05. Its three-month return to investors was 3.01%, while its one-year return was 44.5%.

    The promoters of Phoenix Mills have a stake of 47.32% in the company, while FIIs have a stake of 31.60%. Domestic mutual funds and foreign institutional investors have a consolidated stake in the company of 16.67%. The public has a stake of 4.41% in the company.   

    As of November 2022, DSP Midcap Direct-G had invested Rs 517 crore in the company, while Motilal Oswal Midcap Direct-G and Motilal Oswal Flexi Cap Direct-G had invested Rs 364.2 and Rs 218.77 crore, respectively.

    The company’s TTM revenue stands at Rs 1,483.4 crore as of November 2022. During the same period, the company saw a net profit of Rs 247.9 crore.

    Disclaimer: ICICI Securities Ltd. (I-Sec). Registered office of I-Sec is at ICICI Securities Ltd. - ICICI Venture House, Appasaheb Marathe Marg, Prabhadevi, Mumbai - 400 025, India, Tel No : 022 - 6807 7100. I-Sec is a Member of National Stock Exchange of India Ltd (Member Code: 07730), BSE Ltd (Member Code: 103) and Member of Multi Commodity Exchange of India Ltd.(Member Code: 56250) and having SEBI registration no. INZ000183631. Name of the Compliance officer (broking): Ms. Mamta Shetty, Contact number: 022-40701022, E-mail address: complianceofficer@icicisecurities.com. Investments in securities market are subject to market risks, read all the related documents carefully before investing. The contents herein above shall not be considered as an invitation or persuasion to trade or invest. I-Sec and affiliates accept no liabilities for any loss or damage of any kind arising out of any actions taken in reliance thereon. Such representations are not indicative of future results. The securities quoted are exemplary and are not recommendatory. Investors should consult their financial advisers if in doubt about whether the product is suitable for them. The contents herein above are solely for informational purpose and may not be used or considered as an offer document or solicitation of offer to buy or sell or subscribe for securities or other financial instruments or any other product. Investors should consult their financial advisers whether the product is suitable for them before taking any decision. The contents herein mentioned are solely for informational and educational purpose.

Registered Address

462 Senapati Bapat Marg, Lower Parel, Mumbai, Maharashtra, 400013

Tel : 91-022-24964307
Email : info:thephoenixmills.com
Website : http://www.thephoenixmills.com
Registrar

Link Intime India Pvt Ltd

AGM Date (Month) : Sep
Face Value Equity Shares : 2
Market Lot Equity Shares : 1
BSE Code : 503100
NSE Code : PHOENIXLTD
Book Closure Date (Month) : Sep
BSE Group : A
ISIN : INE211B01039

FAQ’s on Phoenix Mills Ltd Shares

You can buy Phoenix Mills Ltd shares through a brokerage firm. ICICIdirect is a registered broker through which you can place orders to buy Phoenix Mills Ltd Share.

Company share prices and volatile and keep changing according to the market conditions. As of Sep 21, 2023 03:56 PM the closing price of Phoenix Mills Ltd was ₹ 1,811.65.

Market capitalization or market cap is determined by multiplying the current market price of a company’s shares with the total number of shares outstanding. As of Sep 21, 2023 03:56 PM, the market cap of Phoenix Mills Ltd stood at ₹ 32,361.32.

The latest PE ratio of Phoenix Mills Ltd as of Sep 21, 2023 03:56 PM is 39.74

The latest PB ratio of Phoenix Mills Ltd as of Sep 21, 2023 03:56 PM is 0.26

The 52-week high of Phoenix Mills Ltd is ₹ 1,910.00 while the 52-week low is ₹ 1,186.40

According to analyst recommendations, Phoenix Mills Ltd has a “Buy” rating for the long term.

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