Having perfected a unique retail-led mixeduse development model, we, at The Phoenix Mills Limited, are fully kitted to push the reset button for Phoenix 2.0.

We are embarking on an exciting journey for creating a whole new cycle of asset growth based on new retail-led mixed use Greenfield and brownfield development assets.

Supported by strong organic growth of our existing assets, we are entering a new growth phase in which we aspire to double our asset base within the next 5 years and establish our presence in the top 10 cities of India.

We have undergone a transformational metamorphosis of becoming a top-notch, multiasset and pan-India retail led property company with more than 6.0 million sq. ft. under management by the end of FY2017. Starting with Phase I in 1999 with just one mall - “High Street Phoenix” in Lower Parel, Mumbai, we moved on to Phase II in 2007 with the construction of “Phoenix MarketCity” malls and put into track our commercial and residential projects. Today the “Phoenix MarketCity” franchise has entrenched itself in key markets across India, including Mumbai, Pune, Bengaluru and Chennai.

The scale, size and multiplicity of our ambition for simultaneously building out these assets is unprecedented. We have proved our planning and execution mettle by successfully rolling such large iconic assets all within a short time frame from each other. Once built out and operational, the last couple of years have been about growing and maximising the consumption take-off across all our malls, while consolidating our ownership across all our SPVs. All this while, we have also steadily built and successfully delivered more than 6.0 million sq. ft. on our other asset classes – residential, commercial and hospitality. The central theme of our business model is pinned on catering to India’s strong consumption story. We have been strengthening the “Phoenix Marketcity” franchise in uncovering urban demand and creating a superlative experience for shoppers. Our “cathedrals of consumption” are in the heart of bustling neighbourhoods with an eclectic mix of international, national and local brands and well-loved dining concepts. We have set a track record of creating matured mall assets which are registering wholesome growth in both consumption and rental incomes. Today, we are a classic case study for successfully implementing and creating alpha value from the mixed-use framework within India’s fast evolving realty opportunity.

During FY2017, Phoenix MarketCity, Mumbai emerged as the fastest growing MarketCity project, post revamp, with rise in consumption and footfalls and good brand churning. We continue to be upbeat and focused on other development assets as well. In our commercial portfolio, Art Guild House, which was completed and delivered the year before, is gaining incessant popularity for its signature boutique offices, strategic location and vast choices for shopping and entertainment. Our luxury residential projects in Chennai and Bengaluru, which are under different stages of completion, are well on course and have witnessed high sales velocity and substantial price appreciation since launch. In the hospitality portfolio, Hotel St. Regis at Mumbai and Courtyard by Marriott at Agra continue to experience a constant rise in occupancy. Our F&B business, across all our assets, have been doing exceedingly well, as we continue to add more options on fine-dining restaurants. We continued to leverage our collective strengths in development, management and operations of our assets to elevate the overall experience of our customers and consumers.

Going forward, under Phase III of our development, we are laying the foundation for renewed growth as we enter a whole new cycle of fresh land acquisitions and existing malls in the leading cities of India. To this extent, we have signed a definitive deal with the Canadian Pension Plan Investment Board (CPPIB) to set in motion a new cycle of growth. The deal not only provides us with long-term capital for growth, it also puts us in the league of leading mall developers in the U.S. and Europe.