Review

PHOENIX MILLS LTD.

Ticker : 503100
FV: Rs. 2
52-Week H/L: Rs. 747/491.50



We had previously recommended Phoenix Mills Limited in volume no. 35, issue no. 40 (dated July 29, 2019), when the scrip was trading at Rs. 694. The company is engaged in construction of buildings, development and operation of malls, commercial centres and other real estate properties. Its malls include a range of stores that showcase international brands. The stock was recommended based on increasing demand for retail and entertainment spaces. For Q1FY20, the total income from operations increased by 46.55 per cent to Rs. 630.41 crore from Rs. 430.16 crore in Q1FY19. For Q1FY20, PBT expanded by 118.79 per cent and was Rs. 170.29 crore as compared to Rs. 77.83 crore for Q1FY19. The company gained a net profit of Rs. 153.71 in Q1FY20, which is an increase of 138.08 per cent YoY as compared to Rs. 64.56 in Q1FY19. The company has announced merger of its subsidiary Phoenix Hospitality Company with itself. Thus, we recommend a HOLD.