The Phoenix Mills advances on appointing Anuraag Srivastava as the new CFO

The Phoenix Mills added 2.32% to Rs 1,018.55 after the board, on Monday, 6 December 2021 appointed Anuraag Srivastava, as the chief financial officer (CFO) and a key managerial personnel (KMP) of the company.

Anuraag Srivastava will be replacing Varun Parwal, who resigned from the company on the same day as his appointment, i.e. Monday, 6 December 2021. Mr Srivastava has completed his B.Com (Honours) from Delhi University and is a Chartered Accountant (CA).

Mr Srivastava has over 25 years of financial management experience across varied sectors including fast moving consumer goods (FMCG), retail, telecom and infrastructure across multiple geographies. His expertise includes business planning, finance management, and raising private and public capital.

Srivastava has been in CFO role since 2008 and has been associated with organizations like Tata Teleservices, Indus Towers, GSK Consumer Healthcare and Future Group in the past. His last assignment was with Sterlite Power as the group CFO, The Phoenix Mills said in a regulatory filing while announcing the new CFO's appointment.

The company reported a consolidated net profit of Rs 63.16 crore in Q2 FY22 as against a net loss of Rs 39.98 crore in Q2 FY21. Net sales during the quarter increased by 72.8% Y-o-Y (year-on-year) to Rs 371.31 crore.

The Phoenix Mills is a leading retail mall developer and operator in India and is the pioneer of retail-led, mixed-use developments in India. The company has an operational retail portfolio of approximately 7 million square feet of retail space spread across 9 operational malls in 6 gateway cities of India. Besides retail, the company has an operating commercial office portfolio with gross leasable area of 1.5 million square feet. It also owns 2 hotels aggregating to 588 keys.

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