Will exploit future acquisitions with Singapore-based GIC: Phoenix Mills MD

Shishir Shrivastava, MD of Phoenix Mills, talks about about the rationale behind the new venture with Singapore-based GIC.

Mall developer Phoenix Mills Ltd (PML) signed a term sheet with Singapore-based GIC to float a platform and invest in retail-led mixed use properties. Shishir Shrivastava, managing director of the company, spoke to Raghavendra Kamath about the rationale behind new venture and plans ahead.

What is the rationale behind Phoenix Mills going for a second platform?

PML continues to evaluate opportunities for growth on an ongoing basis. We remain committed to our shareholders in helping realise best value for our assets and help value unlocking at PML level. Capital required for such growth comes by way of asset monetisation once