Phoenix Mills, Brigade Ent: Mall operators not out of woods, say analysts

Weakening financial profile of tenants, particularly of highly impacted sectors, such as multiplexes, food courts and restaurants, due to localized restrictions is expected to hit mall operators, says

Shares of real estate firms, especially malls and commercial building developers, have clocked stellar gains at the bourses over the previous fortnight on optimism that a steady decline in new Covid-19 cases will nudge state governments to ease pandemic-led restrictions and unlock economies.

Indiabulls Real Estate, for instance, has surged 31 per cent during the period while DLF, Godrej Properties, Sunteck Realty, Oberoi Realty, Brigade Enterprises, and Phoenix Mills have gained between 5 per cent and 13 per cent. In comparison, the benchmark S&P BSE Sensex and the sectoral S&P BSE Realty indices are up 4 per cent and 9