12,00,000 sq. ft project: This multibagger realty company announces opening of another largest mall at Wakad, Pune!
The stock gave multibagger returns of over 900 per cent in a decade.
The Phoenix Mills Limited (PML), India’s leading destination retail mall developer and operator, has opened the gates to its second mall in Pune, “Phoenix Mall of the Millennium”. This sprawling retail destination spread across 16 acres and encompassing over 12 lakh square feet (sq. ft.) of gross leasable area, is located in the key consumption centre of West Pune in Maharashtra.
The mall has been developed by PML under its joint venture with the Canada Pension Plan Investment Board (CPP Investments). PML is today India’s leading destination retail mall owner and operator with an operational retail portfolio of over 1.1 crore sq. ft. of leasable area across 12 retail consumption hubs in 8 gateway cities of India.
The upcoming immersive and experiential destination in Pune will offer excellent shopping, entertainment, and dining experiences. It will also have a strong commitment to sustainability and will blend the city's rich culture and heritage with the vibrant energy of an established cosmopolitan hub. The project is expected to generate employment for more than 10,000 individuals and will be further enhanced by the addition of modern offices.
Phoenix Mills Ltd is engaged in the operation & management of malls, construction of commercial & residential property and hotel business in India. India's leading retail mall developer and operator with approximately 0.64 million square meters of retail space spread across 9 malls in 6 gateway cities of India. It has developed over 2.11 million square meters.
On Friday, shares of Phoenix Mills surged 1.67 per cent to Rs 1,842.95 per share with an intraday high of Rs 1,858.95 and an intraday low of Rs 1,819.95. The shares of the company saw a spurt in volume by more than 1.08 times on BSE.
The company has a market cap of over Rs 33,000 crore and reported positive numbers in its Quarterly Results and annual results. The stock gave multibagger returns of over 900 per cent in a decade. Investors should keep an eye on this realty stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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