Phoenix Mills soars high

Phoenix Mills opened almost 1.5% higher at Rs.763.60, going on to an intraday high at Rs.819, rising almost 9%. Volumes are up over 2-times.

The company reported its business update for Q3FY21. Its retail segment reported a growth of 192% sequentially and 66% YoY.

Its residential portfolio reported good sales too – it sold 14 units with aggregate sales value of approximately Rs. 74 crore in Q3 FY21 and collection was at approximately Rs. 38 crore in Q3FY21 and approximately Rs. 100 crore in 9M FY21.

Its commercial portfolio’s Rent & CAM Collections across the commercial portfolio remained strong at approximately Rs. 39 crore in Q3 FY21 and Rs. 114 crore in 9MFY21. It received occupation certificate for Fountainhead Tower 2 in October 2020 and leased approximately 25,000 sq ft during December 2020.

Its Hospitality sector saw improved traction in social events and F&B revenue during Q3FY21 · Revenue at The St. Regis, Mumbai has almost doubled sequentially to approximately Rs. 18 crore, up 28% YoY.

Its revenue at Courtyard by Marriott, Agra stood at approximately Rs. 4.5 crore, up 36% (YoY).