| |
|
|
   Equity Holding 12 – PHEONIX MILLS
|
| |
India is one of the ten largest retail markets in the world. With a total turnover of US$250 million, the outlay is equivalent to about 50% of the total private expenditure on consumption and around a third of the total Indian GDP. Research suggests an annual growth in turnover of around 10% in the next few years.
Phoenix Mills Limited is known for its expertise in planning and conceptualising large retail-led, entertainment, commercial and hospitality projects under one project plan and turn them into landmark destinations.
With the objective of achieving a formidable cross-country footprint as the leading retail-led mixed format player over the next three years, Phoenix Mills Limited has entered into various partnerships with regional developers to develop about 21.4m sq. ft. of retail, commercial and entertainment area.
|
 |
|
|
 |
|  |
|
| |
| Highlights |
|
- During the year PML raised INR 9.8billion / US$245 million through a QIP (Qualified Institutional Placement).
- PML has entered into a strategic alliance with Entertainment World
Developers Pvt. Ltd. (EWDPL) by acquiring a stake of over 42% in the
company. EWDPL is a Tier II city centric retail mall and mixed use
developer engaged in the construction and operation of mixed-use retail
centres and townships.
- During the quarter PML invested in Big Apple Real Estate Pvt.
Ltd., the owners of the United Malls brand, with an intention to
acquire a majority equity stake of over 60% through an infusion of INR
800 million / US$20 million as fresh capital.
- PML has tied up with Shangri-La to operate a 400 keys 5 star hotel in its Mumbai property.
|
| |
| View Project Details |
|
|
|
|
£8.8 million*
|
| 21.4 M sq. ft. |
Asset Classes
|
Retail Hospitality Commercial |
| Project Name |
Phoenix Mills |
| Partner |
Phoenix Mills Ltd |
Location
|
Pan India |
Type
|
Retail Led Mix Development |
| Capital Invested |
£7.4 M
|
| *NAV as of 31 March 2008 |
£8.8 M |
| Shares Owned |
1.8 Million |
IRR at date
|
27%
|
Multiple at Date
|
1.19 |
| Stock Exchange |
National and Bombay Stock Exchange — Ticker: PHOENIX LTD. |
* Committed amount (All equity holding revalued in aggregate)
|
