Phoenix Mills Ltd primarily deals with the construction of commercial & residential property and hotel business as well as the operation & management of malls in India. With its presence across major metropolitan cities like Bengaluru, Mumbai, Pune, Chennai, and Lucknow, it is India’s largest mall owner and has an operational history of over 100 years.
Management Commentary:
“Consumption in Q3 FY23 stood at Rs. 2,647 crores, showing a growth of 28% over Q3 FY20 which was historically our best year. Excluding Phoenix Palassio, Lucknow and Phoenix Citadel, Indore the growth was 14% of Q3 FY20. Consumption was robust across categories in the third quarter. Some of the top performing categories were jewelry, which was up 142% from Q3 FY20, Electronics up 21% from Q3 FY20, Fashion and accessories up 26%, Food and beverage up 31%, FEC, Multiplex and entertainment up 30% from Q3 FY20.”
– Shishir Shrivastava, Managing Director (In Q3FY23 Concall)
The company reported a growth of 85 per cent in its consolidated net profit during the quarter ended December 31, 2022. Its profit after tax (PAT) stood at INR 211 crore in Q3 FY23 as against INR 114 crore it registered in the corresponding quarter of the previous fiscal, the company said in a BSE filing.
The company’s consolidated total income stood at INR 718.57 crore in Q3 FY23, a growth of 60.75 per cent from INR 447 crore it recorded in the similar quarter last year. During the nine month ended December 31, 2022 the company has allotted 45,000 equity shares under ESOP scheme 2007 and 19,730 equity shares under ESOP scheme 2018 at an exercise price of INR 333.90 and INR 726.39 per equity share respectively.