The Mumbai-based real estate developer has been buoyed by double-digit revenue growth and operating profit over the last five years.
It is the only real estate company to report a positive cash flow from operations in each of the last 10 years.
It also generated a sector-beating operating profit margin of 50.4 per cent as of the 12 months ending September 2023.
Unsurprisingly, Phoenix Mills’s stock price has soared over 300 per cent since 2019
The company has India’s largest mall portfolio, contributing to around 70 per cent of its revenue as of FY23.
Back in FY19, the company had set a target to double its mall property from 4 million square feet to 8 million square feet. The company achieved this feat in FY23.
The company isn’t reliant on malls alone. It has residential properties and hotels. The revenue from its hotel business has grown in double digits consistently.
The company, riding on India’s retail story, intends to expand its mall footprint, setting a target of 14 million square feet by 2027.
Beyond its malls, the company will rely on its new hotel in Bengaluru, a residential project in Kolkata, and 4 new commercial office spaces to be its key growth drivers.
Despite remarkable growth, the company has a Valuation Score of just 3/10 and a Stock Rating of 3.