Phoenix Mills Ltd. is engaged in operation and management of mall construction of commercial and residential property and hotel business in India. As on March 31 2018 the Company has 18 direct subsidiaries 7 indirect subsidiaries and 5 associates.The company has 8 retail assets with a leasable area of around 6 million square feet in Mumbai Bangalore Chennai Pune Lucknow & Bareilly. With a portfolio comprising of over 17.5 million square feet of retail residential commercial and hospitality assets spread over 100+ acres of land the Company is best positioned in the industry to serve the people of India the fastest growing economy in the world. Phoenix Mills Ltd was incorporated in the year 1905. The company began their operations as a textile manufacturing company on 17.3 acres of land at Lower Parel in Mumbai. In the year 1959 the company was listed in the Bombay Stock Exchange. In the year 1987 the company entered into the growing real estate market where High Street Phoenix emerged as the most frequented destination in Mumbai. In the year 1992 the first multi-storied Phoenix residential towers were built on the Phoenix Mills Land. They introduced India's first Hyper market concept 'Big Bazaar' at High Street Phoenix in the year 2001.During the year 2000-01 the company through their subsidiary company Bellona Finvest Ltd entered into joint venture with the Chatterjee Management group of companies and formed Galaxy Entertainment Corporation Ltd to take advantage of the growing opportunities in the entertainment segment.During the year 2003-04 the company formed a wholly owned subsidiary namely CR Retail Malls (India) Pvt Ltd. In August 2004 they formed another wholly owned subsidiary namely Silly Point restaurants Pvt Ltd.During the year 2006-07 the company as a group focused on mega retail malls entertainment complexes commercial space and hospitality units with plans to foray into developing real estate in eight cities admeasuring a total area of 21.4 million sq ft. Ashok Ruia Enterprises Pvt Ltd a promoter group company was amalgamated with the company. Ashok Ruia Enterprises Pvt Ltd holds interest in innovative 'Market City' projects in Mumbai (Kurla) Bangalore Chennai Pune and Raipur which represents 13.47 million square feet of Developable Area.During the year 2007-08 the company acquired a 25-acre plot in Rajaji Nagar in Bangalore for around Rs 320 crore from beleaguered engineering firm GKW Ltd. This was done through investments in Palladium Construction Pvt Ltd a wholly owned subsidiary and Platinum Hospitality Services Pvt Ltd a group company. Ruia Real Estate Development Company Pvt Ltd was merged with the company with effect from November 1 2007.In December 2008 the company acquired an approximate 39% stake in Big Apple Real Estate Pvt Ltd (Big Apple) the owners of the United Malls brand in Uttar PradeshBig Apple together with Phoenix Mills will develop malls by the brand name 'Phoenix United' across north India particularly in the state of Uttar Pradesh covering cities including Lucknow Agra Varanasi and Bareilly. In February 2008 the company entered into a strategic alliance with Entertainment World Developers Ltd by acquiring over 42% stake in the company. Phoenix is currently building retail led mixed use development centers in Tier I cities under the brand name of 'Phoenix Market City' and through partnerships with regional players in the Tier II cities. Entertainment World Developers Ltd is developing approximately 15 projects in various Tier II cities namely Raipur JAbalpur Bhilai Nanded Udaipur Chandigarh Trivandrum Indore etc. The total area under development is approximately 17 million sq ft.In the first quarter of financial year 2008-09 Kalani Holdings Ltd which was wholly owned subsidiary of Ruia Real Estate Development Company Pvt Ltd became subsidiary of the company. In the second quarter of the financial year Plutocrat Asset & Capital Management Pvt Ltd became a subsidiary of the company.During the year 2014 Phoenix Mills (PML) completed delivery of its annuity-based assets. During FY 2014 four Phoenix Marketcities across the prime cities of India matured further in terms of becoming a key attraction in their respective cities garnering growing footfalls new brand additions and burgeoning consumer spending.During FY 2014 the commercial property Centrium has been completely constructed and nearly sold out at Kurla. Of the total saleable area of 0.28 million sq. ft. only 4500 sq. ft. is now available for sale. Orion Park within the premises of Phoenix Marketcity Kurla was rebranded and launched as Art Guild House in May 2014. With regard to the residential project One Bangalore West Bengaluru launched in February 2014 a majority of the construction on Phase 1 of the project is almost 90% complete and is on course to be delivered by 2015. Phase I comprising Tower 1 2 and 3 is completely sold out and is ready to be delivered by 2015. Phase 2 which comprises Tower 4 and 5 is under the construction stage and will be ready in 4-5 months after the first three towers are delivered. Launched at a price of Rs. 6550 psf the project elicited the desired response from buyers to its current level of Rs. 10900 psf.The company launched its Kessaku project comprising approximately 0.99 million square feet of Saleable Area in the first quarter of 2015.During the year 2016 The Phoenix Mills Ltd. through its wholly owned subsidiary Big Apple Real Estate Pvt. Ltd. has increased its ownership in Upal Developers Pvt. Ltd and Blackwood Developers Pvt. Ltd from 77.2% to 100% by buying out the stake of its partners. The company has an on-going and planned residential portfolio of 5.5 million square feet of which it launched .05 million square feet and sold 1.78 million square feet in cities of Bangalore Chennai and Pune. In addition to this it has 1.71 million square feet of completed/ under-construction commercial projects of which the company sold 1.03 million square feet.During FY 2016 the Company issued and allotted by way of QIP 7991907 Equity Shares of Rs 2/- each fully paid-up at an Issue Price of Rs 353.60 per Equity Share (including a premium of Rs 351.60 per Equity Share) aggregating to Rs 2825.94 Million. The proceeds of the issue were used for the purpose as stated in the Placement Document. Having commenced construction in March 2012 the construction of Art Guild House Mumbai was completed during FY2016. Of the total saleable area about 0.38 million sq. ft. has been sold for a sales value of Rs 3170 million while 0.13 million sq. ft. has been leased. During the financial year 2018 The Phoenix Mills Ltd consolidated its shareholding across subsidiaries by buying back stake from its private equity partners. In April 2017 the company formed a Strategic Retail Alliance with Canada Pension Plan Investment Board (CPPIB) and Island Star Mall Developers Pvt. Ltd (ISML) (Phoenix MarketCity Bangalore) served as the platform. CPPIB infused Rs.16620 crore in equity for a 49% stake in ISML and Phoenix Mills Ltd. will continue to hold the balance 51% stake. The funds raised in ISML were used to acquire land parcels in Wakad Pune and Hebbal Bengaluru. The company shall develop its second Phoenix MarketCity in Pune and Bengaluru respectively on these land parcels. The company also acquired an under-construction retail development in Indore during June 2018 which will be developed as Phoenix MarketCity Indore. Outside the alliance with CPPIB the company purchased an under-construction retail development in Lucknow in June 2018 which will be developed as Phoenix MarketCity Lucknow. Furthermore in July 2018 the company entered into a 50:50 Joint Venture agreement with Ahmedabad based BSafal group to acquire a 5.12-acre prime land parcel in Ahmedabad and develop this into a premium retail development. With these acquisitions the company is set for its next leg of growth by expanding its footprint across key markets of India.Sparkle Two Mall Developers Private Limited was incorporated on 27 April 2018 as a step-down subsidiary of the company. Further Gangetic Hotels Private Limited a subsidiary merged with another subsidiary of the Company Palladium Constructions Private Limited w.e.f. 3rd November 2017. The appointed date of amalgamation as per scheme is 1st April 2016.