Phoenix Mills Q2 FY21 Results: Review - Gradual recovery to normalcy
Phoenix Mills registered QoQ growth of 60% in revenue as consumption reached 40-45% of pre-Covid level. Revenue from the retail segment reached 45% of Q2 FY20. The company has concluded renegotiation with 90% of the retailers and has provided discount on minimum guarantee (MG) rent with 150-200 bps higher revenue share till Mar 21 or till consumption increases to 80% of pre-Covid, whichever is earlier.
HDFC Securities maintains BUY rating on Phoenix Mills given its strong positioning and healthy balance sheet: ANI