Buy Phoenix Mills, target price Rs 1645: JM Financial

JM Financial has buy call on Phoenix Mills with a target price of Rs 1645. The current market price of Phoenix Mills Ltd. is Rs 1370.65.

Phoenix Mills Ltd., incorporated in the year 1905, is a Mid Cap company (having a market cap of Rs 24467.82 Crore) operating in Real Estate sector.

Phoenix Mills Ltd. key Products/Revenue Segments include Licence Fees, Service Charges and Others for the year ending 31-Mar-2022.



Financials
For the quarter ended 31-12-2022, the company reported a Consolidated Total Income of Rs 718.57 Crore, up 5.13 % from last quarter Total Income of Rs 683.50 Crore and up 60.75 % from last year same quarter Total Income of Rs 447.01 Crore. Company reported net profit after tax of Rs 212.40 Crore in latest quarter.



Promoter/FII Holdings
Promoters held 47.31 per cent stake in the company as of 31-Dec-2022, while FIIs owned 29.27 per cent, DIIs 19.0 per cent.