Buy Phoenix Mills, target price Rs 2010: JM Financial

JM Financial has buy call on Phoenix Mills with a target price of Rs 2010. The current market price of Phoenix Mills Ltd. is Rs 1806.

Phoenix Mills Ltd., incorporated in the year 1905, is a Mid Cap company (having a market cap of Rs 32232.75 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 30-06-2023, the company reported a Consolidated Total Income of Rs 839.60 Crore, up 11.24 % from last quarter Total Income of Rs 754.73 Crore and up 40.44 % from last year same quarter Total Income of Rs 597.84 Crore. Company reported net profit after tax of Rs 289.71 Crore in latest quarter.



Promoter/FII Holdings
Promoters held 47.3 per cent stake in the company as of 30-Jun-2023, while FIIs owned 28.56 per cent, DIIs 19.93 per cent.