Phoenix Mills gains after Q3 PAT jumps 45% YoY

8 Feb 2022 , 10:21 AM

Profit before tax stood sharply higher at Rs 137.8 crore in Q3 FY22 as against Rs 35.17 crore in Q3 FY21. EBITDA grew 45% to Rs 230.5 crore in Q3 FY22 from Rs 158.8 crore posted in Q3 FY21. EBITDA margin stood at 56% in Q3 FY22 as compared to 47% in Q3 FY21.

The companys net debt at group level stood at 1810.2 crore as of 31 December 2021. Average cost of debt declined to 7.61% in December 2021 from 7.84% in September 2021, down by 23 bps quarter on quarter.

The Phoenix Mills group is the largest player in the Indian retail mall segment, and has a portfolio of of eight retail mall assets across major cities in the country. It also has an office portfolio of in Mumbai and Pune, two operational hotels (one in Mumbai and another in Agra), and residential real estate in Bengaluru and Chennai.

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