Phoenix Mills Ltd. · NSE:PHOENIXLTD

Phoenix Mills — The Phoenix Mills — Investor Presentation (December 2020)

94 slides from Phoenix Mills's investor presentation, December 2020

  1. Slide 1: Corporate Presentation – Dec 2020

    Phoenix Palassio, Lucknow GLA: ~0.9 msft Launched on 8th July 2020 The Phoenix Mills Ltd. 1 Corporate Presentation – Dec 2020 GLA is an estimate based on current plans and market/company norms and is subject to change based on changes in development plans and tenant negotiations.

  2. Slide 2: Content

    Content • India Retail • Who We Are • Parameters of Growth in EBITDA and portfolio 1. Organic Growth 2. Growth from Brownfield Acquisition 3. Growth from New Build 4. Growth from CPPIB JV 5. Case Study – Pune 6. Growth from Densification / Expansion 7. Office Expansion • Cash flows from Residential

  3. Slide 3: India: Last under-penetrated retail market

    India: Last under-penetrated retail market Organized retail penetration lowest in India Gap even wider on per capita retail space 85% 80% 22.6 55% 16.2 40% 11.8 35% 25% 20% 15% 4.3 4.3 4.3 9% 3.2 3.2 2.2 1.1 India United States India Philippines United Kingdom China Indonesia Malaysia South Korea Th

  4. Slide 4: Phoenix MarketCity Pune

    Photo shot at location PHOENIX MARKETCITY PUNE POLE Position 4

  5. Slide 5: India's largest mall owner showing >13% rental CAGR FY13 through FY20

    India's largest mall owner showing >13% rental CAGR FY13 through FY20 Total of ~12 msft mall GLA expected to be operational by FY24 GLA of GLA across 9 operational ~7 msft RETAIL malls in 6 cities under-development & ~5 msft under-planning RETAIL Leased occupancy EBITDA margin >100% in Retail Malls

  6. Slide 6: Dynamic and diverse leading developer of mixed-use projects

    Dynamic and diverse leading developer of mixed-use projects Retail Commercial Hospitality Residential Operational Operational The St. Regis, Mumbai Total Saleable + Courtyard by Marriott, Agra Retail Spaces GLA Office Spaces GLA Area ~7 ~1.3 588 ~4 msft msft keys msft Under-development & Under-devel

  7. Slide 7: Owner and Manager of India's Largest Portfolio

    Owner and Manager of India’s Largest Portfolio Operational and Under Construction Retail GLA Largest Owner of Operational Retail Malls In India (msft) for Listed Developers in India 4.8 Largest under development mall portfolio as on date 2.6 6.8 4.1 4.3 1.8 Presence across key Indian cities 1.2 0.6

  8. Slide 8: Portfolio in India's top cities

    Portfolio in India’s top cities Agra Indore Hospitality Ahmedabad Mall Courtyard by Marriott – (193 keys) Phoenix Citadel Mall Bareilly – (~1 msft) Palladium Lucknow – (~0.7 msft) Mall Phoenix United – (0.34 msft) Mall Mumbai Phoenix United – (0.37 msft) Phoenix Palassio – (0.90 msft) Mall HSP & Pal

  9. Slide 9: New Town Centre – The MarketCity concept

    New Town Centre – The MarketCity concept SBA – ~0.16 msft SBA – ~0.28 msft Palladium Offices Commercial GLA – ~0.42 msft SBA – ~0.1 msft GLA – ~1.00 msft  Location – City Centre – Velachery, Chennai  Land Area – 14.6 acres  Retail GLA – ~1.22 msft  Residential Saleable Area – ~0.54 msft  Commer

  10. Slide 10: Phoenix MarketCity and Palladium, Chennai

    Phoenix MarketCity and Palladium, Chennai Photo shot at location Photo shot at location FY14-20 Rental Income (Rs. Mn) CAGR – 13% 1,777 1,809 1,421 1,196 1,286 1,109 858 FY14 FY15 FY16 FY17 FY18 FY19 FY20 10

  11. Slide 11: HSP & Palladium, Mumbai

    HSP & Palladium, Mumbai Photo shot at location FY14-20 Rental Income (Rs. Mn) CAGR – 9% 3,432 3,486 2,837 3,022 2,601 2,293 2,039 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY14-20 Consumption (Rs. Mn) CAGR – 4% 15,438 16,264 16,456 17,044 17,102 13,185 14,403 FY14 FY15 FY16 FY17 FY18 FY19 FY20 11

  12. Slide 12: Phoenix MarketCity, Mumbai

    A Leading Developer of Mixed Use Projects Phoenix MarketCity, Mumbai Centrium Phoenix Paragon Plaza Art Guild House Asset Class GLA (msft) Retail ~1.14 Office ~1.52 Parking ~1.2 Total ~3.86 GLA is an estimate based on current plans and market/company norms and is subject to change based on changes i

  13. Slide 13: Phoenix MarketCity, Bangalore

    Phoenix MarketCity, Bangalore Photo shot at location ~1.0 msft Gross Leasable Area ~97% FY20 Occupancy Rs. 13,140 Million FY20 Consumption Rs. 1,795 pspm FY20 Trading Density GLA is an estimate based on current plans and market/company norms and is subject to change based on changes in development p

  14. Slide 14: Aim for Organic and Inorganic growth to contribute to area and EBITDA

    Aim for Organic and Inorganic growth to contribute to area and EBITDA Section Index Growth from Office Expansions 1. Organic Growth from operating assets 2. Growth from already acquired Brownfield Acquisitions CPPIB JV Growth 3. Growth from new build under construction 4. Growth from CPPIB JV Growth

  15. Slide 15: Phoenix MarketCity, Mumbai

    Phoenix MarketCity, Mumbai Photo shot at location CAGR FY17-20 – 11% Rental Income (Rs. Mn) 1,216 1,270 1,102 934 991 954 926 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY14-20 Consumption (Rs. Mn) CAGR – 14% 9,559 9,790 8,143 6,957 5,480 5,957 4,460 FY14 FY15 FY16 FY17 FY18 FY19 FY20 Erstwhile weaker mall

  16. Slide 16: Consumption & Rentals 15% & 14% CAGR FY13 through FY20

    Consumption & Rentals 15% & 14% CAGR FY13 through FY20 Company may consider options to monetise; including through a REIT Mall consumption (Rs. bn) Mall rentals (Rs. bn) CAGR: CAGR: 15% 14% 10.2 68.9 69.3 9.9 63.2 8.7 57.8 54.0 7.7 49.3 7.1 6.5 40.3 5.7 4.2 25.7 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY

  17. Slide 17: Brownfield Acquisitions

    Brownfield Acquisitions Photo shot at location Phoenix Palassio, Lucknow Possession in August 2018 Completed construction and opened to public in less than 24 months Photo shot at location Phoenix Citadel, Indore Acquisition in July 2018 17

  18. Slide 18: it al

    4 4 a ” : it al 2. . . 1! ae j I a ; PHOENLS. RenderetijmaresPlans, desigialiaamesian clement staat wy f PHOENIX PALASSIO’

  19. Slide 19: Phoenix Palassio, Lucknow — West Entrance

    Phoenix Palassio, Lucknow — West Entrance with Spectacular Musical Fountain 0.90 msft Gross Leasable Area ~Rs. 3.3 bn of equity infused from internal accruals Construction cost per sq. ft. of ~Rs. 2,500 Mall leased ~90%+ basis LOIs executed Data as on 30 June 2020. Gross leasable area is an estimate

  20. Slide 20: Expansive Spaces… Opulent Interiors

    Expansive Spaces… Opulent Interiors… Breathtaking Chandeliers Photo shot at location Photo shot at location 20

  21. Slide 21: Phoenix Citadel, Indore

    Phoenix Citadel, Indore — Is it an Architectural Marvel? 21

  22. Slide 22: Phoenix Citadel, Indore — Tuscany Street

    Phoenix Citadel, Indore — Tuscany Street: Reflecting classical hues of Florence Interior design inspired by the beauty of Italy Brownfield asset acquired in auction at ~Rs. 2,100 per sq. ft. Expected to start operations in FY22 at estimated cost of ~Rs. 3,500 per sq. ft. Strong leasing traction witn

  23. Slide 23: Phoenix Citadel — Opulent Grand Arrivals

    Phoenix Citadel — Opulent Grand Arrivals, Venetian inspired Chandeliers & Glasswork Skylit arrival atrium with grand fountain Venice Street View 23

  24. Slide 24: Palladium Ahmedabad — Luxury mall

    Palladium Ahmedabad — Ahmedabad’s very own Luxury mall 0.70 msft Gross Leasable Area Gross leasable area is an estimate based on current plans and market/company norms and is subject to change based on changes in development plans and tenant negotiations. 24

  25. Slide 25: Palladium Ahmedabad — Timeless Luxury

    Palladium Ahmedabad — Timeless Luxury 25

  26. Slide 26: Palladium Ahmedabad — Modernity and Sophistication

    Palladium Ahmedabad — Modernity and Sophistication 26

  27. Slide 27: PML CPPIB Alliance

    PML CPPIB Alliance — Paved path for the next leg of growth 27

  28. Slide 28: A Win-Win alliance for both

    A Win-Win alliance for both 1,392 1,426 Transaction at Enterprise Value of ~Rs. 22 bn in April 2017 1,275 1,090 FY16 958 FY17 FY18 EBITDA grew from ~Rs. 1.1 bn to ~Rs. 1.5 bn FY19 FY20 Rental Income (in Rs. Mn) Outperformed business plan EBITDA by 3-4% in most years CPPIB Investment 1,418 1,457 1,22

  29. Slide 29: Update on under-construction Assets

    Update on under-construction Assets PMC Wakad PMC Hebbal PMC Indore Proposed Retail GLA Retail GLA - 1.1 msf Retail GLA - 1.2 msf Retail GLA – 1 msf Office GLA – 0.6 msf Office GLA – 1.2 msf Equity invested till Sept Rs. 4,857 mn Rs. 8,616 mn Rs. 3,325 mn 2020 Status update Development Risks LOW LOW

  30. Slide 30: Phoenix Mall of Asia, Bangalore

    Phoenix Mall of Asia, Bangalore Retail GLA ~1.2 msft under construction Office GLA ~1.2 msft under planning Prime parcel in Hebbal of ~13 acres GLA is an estimate based on current plans and market/company norms and is subject to change based on changes in development plans and tenant negotiations. 3

  31. Slide 31: Mall of Asia, Bangalore — Arrival at Ground Floor

    Mall of Asia, Bangalore — Arrival at Ground Floor into Eden Arcadia Equity infused ~Rs. 8.6 bn No debt on the project on date Expected to be Operational in FY24 Strong leasing traction Data as on 30 June 2020 Under development and under planning assets are subject to change and carry risks of planni

  32. Slide 32: Mall of Asia, Bangalore — 15 screen multiplex

    Mall of Asia, Bangalore — A 15 screen multiplex 32

  33. Slide 33: Mall of Asia, Bangalore — Tiered atrium

    Mall of Asia, Bangalore — Tiered atrium with cafes and restaurants 33

  34. Slide 34: Phoenix Millennium, Wakad

    Phoenix Retail GLA ~1.1 msft under construction Office GLA ~0.6 msft under planning Prime parcel in Wakad of ~13 acres 34 GLA is an estimate based on current plans and market/company norms and is subject to change based on changes in development plans and tenant negotiations.

  35. Slide 35: Phoenix Millennium, Pune — Plaza Flourish

    Phoenix Millennium, Pune — Plaza Flourish, the gateway to luxury Equity infused ~Rs. 5.2 bn No debt on the project on date Expected to be Operational in FY24 Data as on 30 June 2020 Development timelines and costs carry risks of planning, approvals, execution and market conditions which may be beyon

  36. Slide 36: Phoenix Millennium, Pune — Rains of Nourish

    Phoenix Millennium, Pune — Rains of Nourish, 2nd floor grand entry 36

  37. Slide 37: Growth by Densification

    Growth by Densification Phoenix MarketCity Bangalore Proposed Office 3rd and 4th Retail Tower 1 - B Wing expansion ~0.35 msft GLA ~0.31 msft GLA Proposed Office Tower 1 –A Wing ~0.37 msft GLA Proposed Office Tower 2 ~0.33 msft GLA Proposed Grand Hyatt Hotel ~300 keys Existing Mall GLA is an estimate

  38. Slide 38: Alliance Enterprise Value slated to grow

    Alliance Enterprise Value slated to grow Retail Office Equity Debt ~1 msft GLA of retail (GLA msft) (GLA msft) (Rs. Bn) (Rs. Bn) operational Phoenix MarketCity, Bangalore - Existing Mall ~1.0 - ~3.9 ~3.6 msft GLA of - Expansion# ~0.3 ~1.0 retail under Phoenix Millennium, Pune construction / planning

  39. Slide 39: Case Study – Densification and Organic Growth

    Case Study – Densification and Organic Growth Phoenix MarketCity Pune Photo shot at location ~1.2 msft Gross Leasable Area ~96% FY20 Occupancy Rs. 12,592 Million FY20 Consumption Rs. 1,453 pspm FY20 Trading Density 3939 GLA is an estimate based on current plans and market/company norms and is subjec

  40. Slide 40: Phoenix MarketCity, Pune

    Phoenix MarketCity, Pune Phoenix MarketCity Pune Photo shot at location FY14-20 Rental Income (Rs. Mn) CAGR – 13% 1,589 1,667 1,386 1,202 941 1,035 789 FY14 FY15 FY16 FY17 FY18 FY19 FY20 Average Trading Density (Rs. pspm) 1,453 1,208 1,224 1,334 975 1,077 812 FY14 FY15 FY16 FY17 FY18 FY19 FY20 Tradi

  41. Slide 41: Phoenix MarketCity, Pune – Grand Interiors and Liberty Square

    Phoenix MarketCity, Pune – Grand Interiors and Large Space at Liberty Square Photo shot at location Grand Interiors Photo shot at location Events at Liberty Square 41

  42. Slide 42: Consistent Annual Double Digit Growth

    Consistent Annual Double Digit Growth Phoenix MarketCity Pune Consistent Growth in Consumption (Rs. Mn) High Rental Yield (Rs. Mn) 81 Waiver on account of lock-down FY13-20 FY13-20 CAGR – ~16% CAGR – ~15% 1,589 1,667 12,207 12,592 1,396 10,828 1,202 9,626 8,659 1,035 7,650 941 6,221 789 640 4,568 FY

  43. Slide 43: Repricing trends remain strong

    Repricing trends remain strong Phoenix MarketCity Pune In the last two years ~36% of the mall Repricing in FY19 and FY20 when contracts came for expiry has been repriced with ~25% jump in Leasable Area 0.43 msft minimum guarantee rental Total No. of Deals 169 34 deals have seen a jump of more than 5

  44. Slide 44: Sizeable area coming up for repricing

    Sizeable area coming up for repricing Phoenix MarketCity Pune Leasable Areas coming up for Repricing in Minimum Guarantee Rental Rs. pspm ~25% increase In MG Rs. pspm ~0.26 msft FY21 and FY22 coming up for Leasable ~29% increase re-pricing Floor in MG Rs. pspm ~0.21 msft Area (msft) coming up for re

  45. Slide 45: Phoenix MarketCity Pune a clear and established leader

    Phoenix MarketCity Pune a clear and established leader Phoenix MarketCity Pune Consumption grew at a CAGR of 16% over the Highly sought-after brands with limited presence in Pune last 7 years (FY13 to FY20) under single roof PMC Pune following the growth trajectory of Scotch & Armani Diesel Superdry

  46. Slide 46: Phoenix MarketCity, Pune is the Undisputed Leader

    No competition in the micro market Phoenix MarketCity Pune Inorbit Mall Amanora Higher vacancies Jewel Square G-Corp Pulse Mall Nitesh Hub Have been fully or partially converted to office spaces Seasons Mall Phoenix MarketCity, Several international brands seen at PMC Pune is the Pune not present UN

  47. Slide 47: Growth by Densification

    Growth by Densification Phoenix MarketCity Pune Offices Fountainhead Tower 1 ~0.17 msft GLA Offices Fountainhead Tower 3 ~0.41 msft GLA Offices Fountainhead Tower 2 ~0.25 msft GLA 3rd Floor Retail ~0.08 msft GLA Existing Mall (LG + G + 2) ~1.1 msft GLA GLA is an estimate based on current plans and m

  48. Slide 48: Fountainhead Pune – Tower 1 and Tower 2

    Fountainhead Pune – Tower 1 and Tower 2 Tower 1 – Completed and 95% leased Tower 2 – Construction Completed, OC Recieved Data as on 30 Sept 2020 48

  49. Slide 49: Palladium Case Study & Densification – Future Proofing

    Palladium Case Study & Densification – Future Proofing Retail GLA expansion of – Existing Unutilised Area: ~0.15 msft – New Construction Area: ~0.35 msft Total: ~0.50 msft Office Expansion Tower 2 Office Expansion Tower 1 Office GLA Expansion: ~1.00 msft No cost of land TDR / Premium FSI to be purch

  50. Slide 50: ~1.5 msft GLA being added at one of India's most expensive Real Estate

    ~1.5 msft GLA being added at one of India's most expensive Real Estate Enhanced retail offering at India’s iconic shopping location Grand Office Lobby 50

  51. Slide 51: Brand Enhancement & Right-sizing of Traditional Anchors

    Brand Enhancement & Right-sizing of Traditional Anchors Optimizing the hyper market space at High Street Phoenix Annual Rentals (Rs. Mn) 2010 to 2020 CAGR – 20% 227 72 36 2010 (Big Bazaar) 2011 (Big Bazaar + Grand 2020 (H&M + Grand West West Zone)* Zone) GLA (sq. ft.) 51,140 38,903 + 13,742 = 52,645

  52. Slide 52: High Street Phoenix Expansion via Palladium Basement

    High Street Phoenix Expansion via Palladium Basement & the 2nd / 3rd floors of Skyzone  Consolidated by purchasing all strata sold offices in the 2nd / 3rd floors of Skyzone  Expanding Palladium by adding basement of 44,000 sq. ft. GLA  Expanding HSP by 97,000 sq. ft. GLA on 2nd & 3rd floor  No

  53. Slide 53: Operational commercial portfolio to grow five fold in 4 years

    Operational commercial portfolio to grow five fold in 4 years Offices at Phoenix MarketCity, Mumbai Rise Offices at HSP and Palladium Offices at Phoenix Millennium, Pune Offices at Phoenix MarketCity, Offices at Phoenix MarketCity, Bangalore Pune Offices at Palladium, Chennai Development timelines a

  54. Slide 54: Office Expansion by densification of mixed use developments

    Office Expansion by densification of mixed use developments GLA^ Operational Office Assets Location (msft) Art Guild House Mumbai 0.63 Phoenix Paragon Plaza Mumbai 0.31 Office portfolio to grow The Centrium Mumbai 0.10 from 1.31 msft to Phoenix House Mumbai 0.10 ~6.19 msft in 4 years Fountainhead To

  55. Slide 55: Offices Discussion Slide

    Offices Discussion Slide Photo shot at location Land historically owned by SPV and therefore yields can be very high since no additional land cost Structural costs (foundation and strengthening) were part of existing structure Photo shot at location Expansion / densification at own site City centric

  56. Slide 56: Residential Developments

    Residential Developments 9 Towers - One Bangalore West 5 Towers – Kessaku, Bangalore Towers 1 to 6 – OC received OC received for all Tower 7 – Under construction 56

  57. Slide 57: One Bangalore West - Robust Cash Flow from ready inventory

    One Bangalore West - Robust Cash Flow from ready to move in inventory (Towers 1-6) Average Base Price achieved in FY20 for transactions in Total net value of inventory* + Tower 1-6 Collections against sold flats ~Rs.3.3 billion ~Rs. 15,260 per sq. ft. Value of inventory* Collectable against sold ~Rs

  58. Slide 58: One Bangalore West – Value in Under Construction Towers 7-9

    One Bangalore West – Sizeable Value in Under Construction Towers 7-9 Photo shot on location of a completed tower of One Bangalore West Average Base Price achieved in FY20 for Tower 7 ~Rs. 14,400 per sq. ft. Inventory of saleable area in under construction towers (Tower 7-9) ~0.86 msft Value of under

  59. Slide 59: Kessaku – The Masterpiece

    Kessaku – The Masterpiece Lobby Infinity Pool The Garden Club The Sky Club 59

  60. Slide 60: Kessaku - Robust Cash Flow from ready to move in inventory

    Kessaku - Robust Cash Flow from sale of ready to move in inventory Average Base Price achieved in FY20 for transactions in Total net value of inventory* + Towers - Sora, Niwa & Mizu Collections against sold flats ~Rs.12.2 billion ~Rs. 15,500 per sq. ft. Value of inventory* ~Rs. 11.5 bn Inventory of

  61. Slide 61: Amenities – Club One

    Amenities – Club One Photo shot at location 61

  62. Slide 62: Advantage Phoenix

    wae Advantage Phoenix

  63. Slide 63: Awards ● Accolades ● Excellence

    Awards ● Accolades ● Excellence HIGH STREET PHOENIX & PHOENIX MARKETCITY PHOENIX MARKETCITY PHOENIX MARKETCITY PHOENIX MARKETCITY PALLADIUM PUNE BANGALORE MUMBAI CHENNAI ET Now 2020 ET Now – Global Awards 2020 Times Business Awards 2020 ET Business Icon Awards 2020 Times Retail Icon Awards 2020 Most

  64. Slide 64: Concert at Liberty Square, Phoenix MarketCity, Pune

    Concert at Liberty Square, Phoenix MarketCity, Pune Photo shot at location 64

  65. Slide 65: A Concert Venue

    A Concert Venue Photo shot at location Guru Randhawa Concert at Phoenix MarketCity, Mumbai 65

  66. Slide 66: Larger than life installations

    Larger than life installations Photo shot at location Photo shot at location High Street Phoenix, Mumbai Photo shot at location Phoenix MarketCity, Mumbai Phoenix MarketCity, Mumbai 66

  67. Slide 67: Spectacular Events

    Spectacular Events Amit Trivedi Euphoria Shaggy Shankar Mahadevan Sonu Nigam Lucky Ali Vengaboys All photos shot at location Divine The Local Train 67

  68. Slide 68: Record breaking festive décor

    Record breaking festive décor Tallest Christmas Tree for 3 years in a row Photo shot at location 68

  69. Slide 69: Art Gallery

    Art Gallery Photo shot at location Photo shot at location Palladium, Mumbai Palladium, Mumbai 69

  70. Slide 70: Omni-Channel - Value creation for all stakeholders

    Omni-Channel - Value creation for all stakeholders - Under Development Customers Surf through more Convenience of Unique online offering Rewards stores in less time shopping 24X 7 of premium in-season Earn and Burn through multiple products devices Retail partners Bespoke marketing and Easier integr

  71. Slide 71: Consumption in first 4 weeks of Nov 2020 at 87% of last year

    Consumption in first 4 week of Nov 2020 at 87% of same period last year First 4 Week of November - 2020 Consumption (% of LYSM)* % of LYSM 99% 94% 89% 85% 66% NA High Street Phoenix PMC Bangalore PMC Pune PMC Mumbai PMC & Palladium Phoenix Palassio & Palladium Chennai • Strong Consumption trends sus

  72. Slide 72: Area Operationalisation Trend since re-opening of malls

    Area Operationalisation Trend since re-opening of malls Month Total Area Permissible Area Area Operational Permissible Area (msf) (msf) (msf) Operational (%) June 2020 5.96 1.35 1.13 84.1% July 2020 6.90 1.74 1.54 88.8% August 2020 6.90 4.10 3.66 89.0% September 2020 6.90 4.92 4.58 93.1% October 202

  73. Slide 73: Consumption in November 2020 up 36% MoM

    Consumption in November 2020 up 36% MoM over October, 2020 November 2020 Consumption (MoM % change) MoM 40% 33% 34% 40% 29% 41 % % High Street Phoenix PMC Bangalore PMC Pune PMC Mumbai PMC & Palladium Phoenix Palassio & Palladium Chennai Lucknow • Consumption in first 4 week of November, 2020 was up

  74. Slide 74: Consumption in October 2020 up 44% MoM

    Consumption in October 2020 up 44% MoM over September 2020 October 2020 Consumption (MoM % change) MoM 36% 43% 64% 50% 30% 50 % % High Street Phoenix PMC Bangalore PMC Pune PMC Mumbai PMC & Palladium Phoenix Palassio & Palladium Chennai Lucknow • October 2020 consumption was up 44% over September 20

  75. Slide 75: Q2 FY21 – Consumption Trajectory across major malls

    Q2 FY21 – Consumption Trajectory across major malls Q2 FY21 Consumption (% of Q2 FY20 – On like to like basis)* % of LYSQ 56% 50% 49% 47% 39% High Street Phoenix + PMC Bangalore PMC Pune PMC Mumbai PMC Chennai + Palladium Palladium 57 82 57 57 30 days days days days days • Though this was the first

  76. Slide 76: Fund Raising has further strengthened PML's balance sheet

    Fund Raising has further strengthened PML’s balance sheet June 2020 August 2020 30 September 2020 Rs. 7,480 mn Rs. 10,890 mn Rs. 18,505 mn Net Cash Position Successfully raised through QIP Group Liquidity QIP Proceeds War Chest for Safety Net Acquisitions Strong Cash Position despite lockdown; QIP p

  77. Slide 77: Scheme Synopsis

    Scheme Synopsis December 2020 Amalgamation of Phoenix Hospitality Co. Pvt. Ltd. (PHCPL) with The Phoenix Mills Limited (PML)

  78. Slide 78: Brief Transaction Details

    Brief Transaction Details  Amalgamation of Phoenix Hospitality Co. Pvt. Ltd. (PHCPL) with The Phoenix Mills Limited (PML)  PML owns 56.92% of PHCPL with the balance 43.08% stake owned by Ruia International Holding Co. Pvt. Ltd. (RIHCPL) TRANSACTION OVERVIEW  RIHCPL is a promoter group entity  Th

  79. Slide 79: Transaction Rationale

    Transaction Rationale Direct holding by PML in key operating companies  Consolidation of holding in operating entities under PML: As part of the proposed Scheme, PHCPL will be merged with PML and therefore post Scheme, PML will directly hold the following stakes:  50% in Starboard Hotels (Palladiu

  80. Slide 80: Transaction Timing

    Transaction Timing Continuation of PML’s Stake Consolidation across subsidiaries Over the years, PML has progressively increased its stake across marquee assets COMPLETED (FY 13 – 18) Phoenix Market City, Mumbai Phoenix Market City, Pune Phoenix Market City, Chennai Phoenix United – Lucknow, Bareill

  81. Slide 81: PHCPL Shareholding

    PHCPL Shareholding Current & Final Ownership Structure Current Structure Proposed Transaction Steps Promoter Group Public Step 2: PML to allot its Promoter Group Public shares to RIHCPL in lieu 45.56% of the holding in PHCPL 54.44% RIHCPL 43.08% Phoenix Hospitality Co. Pvt. 56.92% Phoenix Hospitalit

  82. Slide 82: PML Shareholding

    PML Shareholding Current and Post Scheme Shareholding Pattern Current Shareholding Post Scheme Shareholding Promoters: Promoters: 45.56% 47.48%* Ruia Ruia Internation Internation al al 28.74% 31.25% Other Public Other Public 52.52% Promoter Promoter 54.44% Entities… Entities… Post amalgamation, Prom

  83. Slide 83: Indicative Activities & Timeline for Completion

    Indicative Activities & Timeline for Completion PML & PHCPL SEBI and Stock Submission of NCLT convened NCLT approval Allotment of Listing of shares Board to Exchanges’ the Scheme to shareholder for the Scheme shares by PML allotted approve the Approvals NCLT meetings (e- pursuant to the amalgamation

  84. Slide 84: Advisors to the Transaction

    Advisors to the Transaction Independent Valuers Fairness Opinion Issued By Legal Advisors Real Estate Consultant 84

  85. Slide 85: Annexures

    ANNEXURES Asset Details & Other Information

  86. Slide 86: PML: Post Scheme Asset Base

    PML: Post Scheme Asset Base Fully Owned and through Alliances/ Partnerships Post Scheme, PML will have its largest asset base of fully held rent yielding assets in its operating history so far FULLY OWNED ASSETS (5.86 MSF) CURRENT Scheme (4.93 MSF)# ALLIANCES / PARTNERSHIPS (6.54 MSF)# HSP & Palladi

  87. Slide 87: One Bangalore West

    One Bangalore West Asset Overview Asset Façade & Interiors BRIEF DETAILS Launched Total Area 2.41 MSF Area 1.80 MSF Area Sold^ 1.32 MSF Avg. Sales Sales Value^ Rs. 12,844 Mn. Price^ Rs. 9,730 PSF LOCATION DYNAMICS Malls & Offices Social Infrastructure Connectivity Sandal Soap Factory Subway St. – 1.

  88. Slide 88: Kessaku, Bengaluru

    Kessaku, Bengaluru Asset Overview Asset Façade & Features BRIEF DETAILS Launched Total Area 1.03 MSF Area 1.03 MSF Area Sold^ 0.29 MSF Avg. Sales Sales Value^ Rs. 3,925 Mn. Price^ Rs. 13,789 PSF Art Inspired Lobbies LOCATION DYNAMICS Malls & Offices Social Infrastructure Connectivity Sandal Soap Fac

  89. Slide 89: Phoenix Paragon Plaza, Mumbai

    Phoenix Paragon Plaza, Mumbai Asset Overview Asset Façade BRIEF DETAILS Leasable Area 0.43 MSF Structure 1 Tower 6 Floors 2 Basement LOCATION DYNAMICS Commercial Developments Social Infrastructure Connectivity Jagruti Nagar Metro Phoenix Market City: <0.1 KM Station: 2.6 KM Equinox Kanakia Zillion H

  90. Slide 90: The Fountainhead, Pune

    The Fountainhead, Pune Asset Overview Asset Façade & Interiors BRIEF DETAILS Leasable Area 0.83 MSF Structure 3 Towers* 13 Floors 2 Basement LOCATION DYNAMICS Grand Entrance Lobby Commercial Developments Social Infrastructure Connectivity Phoenix Market City: <0.1 KM Pune Station: 6.6 KM Proposed Me

  91. Slide 91: Palladium, Chennai

    Palladium, Chennai Asset Overview Asset Façade & Interiors BRIEF DETAILS: MIXED USE DEVELOPMENT Leasable Area 0.65 MSF* Structure 1 Tower 6 Floors^ 2 Basement LOCATION DYNAMICS Malls & Offices Social Infrastructure Connectivity Denaturals Hospital: <2.0 KM Indiranagar Station: 7.6 KM RMZ Millenia Ph

  92. Slide 92: Courtyard by Marriott, Agra

    Courtyard by Marriott, Agra Asset Overview Asset Façade BRIEF DETAILS Event Event 23,314 Keys 193 Restaurants 4 Rooms 8 Spaces Sq. Ft. LOCATION DYNAMICS KEY AMENITIES Tourist Attractions Connectivity Fitness Wi Fi Enabled Centre Natural Preserve Agra Station Taj Mahal <8.0 KM <2.0 KM <3.0 KM Swimmin

  93. Slide 93: Asset Base Performance

    Asset Base Performance Key Operating and Financial Metrics Operating Metrics Residential Commercial Retail Hospitality Particulars Particulars OBW Kessaku PPP Fountainhead, Palladium Particulars Courtyard by Mumbai Pune Chennai Total Area (MSF) 2.41 1.03 Marriott, Agra Area Launched (MSF) 1.80 1.03

  94. Slide 94: Thank You

    Thank You 94 Photo shot at location

The Phoenix Mills — Investor Presentation (December 2020) on 6ix