 "Phoenix Mills")
The stock of mall developer and commercial real estate major, The Phoenix Mills (Phoenix), is up 26 per cent since its business update in the third week of January. The gains came on strong December quarter performance and the consumption boost in the Budget which is expected to help the company sustain its growth trends.
The company bucked the slowdown in the discretionary space by reporting a robust performance for its mall portfolio in the December quarter. Phoenix posted a 21 per cent growth year-on-year (Y-o-Y) and 22 per cent sequentially to Rs 3,998 crore for its mall (retailer sales)
