Fundamentals

THE PHOENIX MILLS LTD

Ticker : 503100
BUY: Rs. 694
Target: Rs. 770



Phoenix Mills Limited is a company engaged in construction of buildings, development and operation of malls, commercial centres and other real estate properties. It specialises in ownership, management and development of retail properties. Its malls include a range of stores that showcase international brands. On the consolidated financial front, for Q4FY19, the company reported net sales of Rs. 723.23 crore, an increase by 65.61 per cent YoY from Rs. 436.71 crore for Q4FY18. PBIDT grew by 74.27 per cent to be Rs. 377.15 crore as compared to Rs. 216.42 crore in Q4FY18. Net profit significantly increased by 186.52 per cent YoY in Q4FY19 to be Rs. 273.19 crore. The company creates retail platforms with a focus on entertainment, dining and shopping destinations which are in high demand. It plans to add 4.90 mn sq. ft of mall space and 0.96 mn sq. ft of office space across the country. Thus, we recommend a BUY.