Geojit has upgraded its rating on the stock to 'Buy' from 'Hold', with a revised target price of ₹1,996, based on 5.4x FY27E adjusted book value per share (BVPS
The brokerage gave a target of ₹1,350 per share, implying 15.3 per cent downside from Friday's close at ₹1,595.1 per share. The brokerage also sees the stock as "expensive" given current valuations
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Motilal Oswal upgraded Phoenix Mills to a 'buy' rating and raised its target price to ₹2,044 from ₹1,673 earlier, implying a potential upside of 35 per cent
On the bourses, Phoenix Mills share has gained nearly 3 per cent over the past month, although it remains 4.5 per cent lower on a year-to-date (YTD) basis.
The Phoenix Mills Ltd will buy a 49 per cent stake in its joint venture firm Island Star Mall Developers Pvt Ltd (ISMDPL) from CPP Investments for Rs 5,450 crore as part of its growth strategy. At present, The Phoenix Mills and Canada Pension Plan Investment Board (CPP Investments) hold 51 per cent and 49 per cent stake in ISMDPL, respectively. Post completion of this deal, the company's stake in ISMDPL will rise to 100 per cent from the current 51 per cent. The company develops retail-led mixed-use destinations. According to a regulatory filing on Thursday, The Phoenix Mills, CPP Investments and ISMDPL have entered into an arrangement to provide an exit to CPP Investments from this JV. The company's board has approved this agreement. "CPP Investments shall receive an aggregate cash consideration of Rs 5,449.16 crore from the company and/or ISMDPL," the filing said. The amount will be paid to CPP Investments in four tranches over a period of three years. The Phoenix Mills might
Phoenix Mills shares jumped 6.4 per cent in trade on Friday, logging an intra-day high at ₹1,542 per share after the company posted its Q1 results
Nomura has set a share price target of ₹1,400 on Phoenix Mills stock, implying a downside of over 11 per cent from current levels
Phoenix Mills share price rose 2 per cent in trade after the company released its Q1FY26 business update
The Phoenix Mills Ltd, which is mainly into development of retail real estate, posted an 18 per cent decline in consolidate net profit to Rs 268.82 crore during the March quarter on lower income. It had posted a net profit of Rs 326.73 crore in the year-ago period. Total income also declined to Rs 1,061.48 crore during the fourth quarter of the previous fiscal year from Rs 1,343.14 crore in the corresponding period of the preceding year, according to a regulatory filing on April 30. During the full 2024-25 fiscal year, net profit fell to Rs 984.22 crore from Rs 1,099.20 crore in the preceding financial year. Total income declined to Rs 3,964.47 crore from Rs 4,109.86 crore a year ago. Phoenix Mills Ltd is one of the leading developers of shopping malls. It has also developed office spaces and hotels.
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The company bucked the slowdown in the discretionary space by reporting a robust performance for its mall portfolio in the December quarter
In its Q3 update, Phoenix Mills said its consumption (retailer sales) in Q3FY25 stood at Rs 3,998 crore, up 21 per cent over Q3FY24
In Q2FY25, the company reported retailer sales (consumption) of Rs 3,289 crore, reflecting a 25 per cent increase over Q2FY24, with gross retail collections reaching approximately Rs. 812 crore
The rise in The Phoenix Mills share price came after the company reported a strong set of September quarter (Q2FY25) and (first half of Financial year 2025 (H1FY25) business update.
The uptick in The Phoenix Mills share price came after the company said that it unit, Casper Realty Private Limited, has been declared as the highest bidder for two prime city-centric plots in Mohali