Consumption revival to drive growth for Phoenix Mills' stock in medium-term

Capital infusion, lower debt will help execute expansion plan

While there are near-term worries due to the onset of a new coronavirus variant and restrictions for the same, the Street is positive on the medium-term prospects of Mumbai-based real estate major, Phoenix Mills (PML). Multiple rounds of funding, expansion plan, and hopes of a higher consumption growth by the end of the financial year are key triggers for one of India’s largest listed mall operators.

Last month, PML entered into an agreement with global investment fund Canada Pension Plan Investment Board (CPPIB), whereby investors will infuse Rs 1,350 crore for a 49 per cent stake in The Rise, an