Motilal Oswal gives Phoenix Mills buy rating, sets ₹2,280 target
Business
Motilal Oswal is upbeat about Phoenix Mills after the company's strong Q2 FY27 results.
They're recommending investors buy in, with a new target price of ₹2,280 thanks to solid growth across key numbers.
Phoenix Mills mall spending up 25%
Phoenix Mills saw retail rental income jump 15% to ₹6.1 billion and retail EBITDA grow 18% to ₹6.4 billion this quarter.
Total spending at their malls climbed 25%, mostly thanks to a big boost in fashion and accessories (up 22%), plus standout gains in electronics (up 39%) and jewelry (up 28%).
Phoenix Mall of Asia, Bengaluru, led the way with massive 68% growth.
All this has Motilal Oswal raising their future revenue and EBITDA estimates for the company.