On Monday, the company’s share price increased by 8.3% to its 52-week high of ₹2,678.35 per share from its previous close of ₹2,471.60, following the incorporation of a company for real estate transactions involving properties that are owned or leased.
According to the exchange filing, Phoenix Mills Ltd has incorporated the wholly-owned subsidiary “Astrea Real Estate Developers Private Limited” This company shall carry out the business of Real Estate activities with owned or leased property.
Looking at the company’s financials, Phoenix Mills Ltd’s net revenue rose by 34% YoY from ₹651 crores to ₹875 crores, in a sequential basis the revenue increased by 7.8% from ₹811 crores to its current levels.
The company’s net profit rose by 37% YoY from ₹222 crores to ₹305 crores on a QoQ basis the Phoenix Mill Ltd net profit rose by 4.8% from ₹291 crores to its current level.
According to their most recent business update, the company’s operational asset in retail total consumption stood at ₹3,287 crore in Q3FY24, representing a 24% YoY growth over Q3FY23.
Their Residential Portfolio sales trajectory for ready units has improved significantly, due to strong demand and faster conversions. The strong sales momentum continued in Q3FY24, with gross residential sales of ₹82 crore and collections of ₹247 crore.
With a market capitalization of ₹46,550 crores, the share price of the company rose by 52% in the last six months and 84% in the last year.
The company has a low price-to-earnings ratio of 47 compared to its peers, a debt-to-equity ratio of 0.51, a return on equity of 11.4%, a return on capital employed of 10%, and a net profit margin of 36%.
Phoenix Mills Limited is an India-based real estate development company. The Company specializes in the development and leasing of commercial and retail space. The company operates in two segments: property and related services and hospitality.
Written by Sriram KV
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
