On standalone basis, which includes operations of only High Street Phoenix and Palladium (HSP), Mumbai, income from Operations increased by 6% YoY to ₹ 3,759 million in FY2017 from 3,558 million in FY2016. On a Consolidated basis, Income from Operations increased by 3 % to ₹ 18,246 million from ₹ 17,795 Million in FY2016. Rental income from malls was at ₹ 7,748 million, up 9% YoY. Hospitality revenue was at ₹ 3,072 million, up 24% YoY. Revenue from residential was ₹ 2,449 million, while the commercial revenue was ₹ 1,431 million.
Earnings before Interest, Depreciation and Taxes (EBITDA) Standalone EBITDA increased by 6% YoY to ₹ 2,538 million in FY2017 from ₹ 2,391 million in FY2016. EBITDA margins were 68% in FY2017 as compared to 67% in FY2016. Consolidated EBITDA increased by 8% to ₹ 8,469 million in FY2017 from ₹ 7,869 million in FY2016. Consolidated margins increased to 46% in FY2017 from 44% in FY2016.
Standalone depreciation increased by 3% to ₹ 301 million in FY2017 from ₹ 293 million in FY2016, whereas consolidated depreciation increased by 10% YoY to 1,953 million in FY2017 from ₹ 1,773 million in FY2016. Standalone interest expense increased by 18% to ₹ 813 million in FY2017 from ₹ 689 million in FY2016. Consolidated interest expense decreased by 4% YoY to ₹ 4,203 million in FY2017 from ₹ 4,425 million in FY2016.
Standalone Profit after Tax decreased to ₹ 1,335 million in FY2017 from ₹ 1,496 million in FY2016. Consolidated Profit After Tax and Minority Interest increased 28% YoY to ₹ 1,674 million in FY2017 from ₹ 1,295 million in FY2016.
During FY2016, Share Capital of the Company was at ₹ 306 million. Standalone Reserves and Surplus increased to ₹ 24,015 million in FY2017 from ₹ 22,650 million in FY2016, whereas Consolidated Reserves & Surplus Stood at ₹ 21,565 million in FY2017, as against ₹ 19,888 million in FY2016.
Standalone Non-Current (long term) borrowings increased to ₹ 5,751 million in FY2017 from ₹ 5,235 million in FY2016. Consolidated Non-Current (long-term) borrowings decreased to ₹ 31,066 million in FY2017 from ₹ 33,801 million in FY2016. Consolidated Current Liabilities decreased to ₹ 11,244 million in FY2017 from ₹ 12,245 million in FY2016.
Consolidated Tangible Assets decreased to ₹ 42,002 million in FY2017 from ₹ 43,512 million in FY2016 and CWIP increased to ₹ 3,277 million in FY2017 from ₹ 1,949 million in FY2016.
Consolidated Current Assets decreased to ₹ 14,068 million in FY2017 from ₹ 20,487 million in FY2016, due to a decrease in inventory. Consolidated Inventories decreased to ₹ 9,455 million in FY2017 from ₹ 13,240 million in FY2016.