ICICI Direct has given Buy recommendation for Phoenix Mills with a target price of Rs. 1200 in its research report issued on Nov 03, 2021

ICICI Direct’s research report on Phoenix Mills

Phoenix Mills (PML) is a leading retail mall developers and operators in India. It is into retail-led, mixed-use properties and has developed 17.5+ mn sq ft of retail, commercial, hospitality, and residential asset class. PML has an operational retail area of ~7 mn sq ft spread over nine operational malls and developing another five malls with ~6 mn sq ft of retail space. It has a GLA of 1.6 mn sq ft in commercial segment. It plans to add 4.6 mn sq ft of commercial office space

Outlook

We maintain our BUY rating on the company We value PML at Rs 1200/share

 

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