Phoenix Mills Ltd., incorporated in the year 1905, is a Mid Cap company (having a market cap of Rs 14364.89 Crore) operating in Real Estate sector.
Financials
For the quarter ended 30-09-2020, the company reported a Consolidated Total Income of Rs 229.36 Crore, up 55.14 % from last quarter Total Income of Rs 147.84 Crore and down 47.22 % from last year same quarter Total Income of Rs 434.52 Crore. Company reported net profit after tax of Rs -39.98 Crore in latest quarter.
Investment Rationale
The brokerage broadly maintain estimates for Retail, Office, and Hospitality segments while increasing FY21E estimates for Residential due to robust demand. It values PHNX’s retail assets based on DCF-based NAV approach, assuming a cap/discount rate of 8.5%/13%.
Promoter/FII Holdings
Promoters held 45.5 per cent stake in the company as of Dec 30, 2020, while FIIs held 33.5 per cent, DIIs 17.4 per cent and public and others 3.6 per cent.
