Buy Phoenix Mills, target price Rs 2520: JM Financial

JM Financial has buy call on Phoenix Mills with a target price of Rs 2520.0. The current market price of Phoenix Mills Ltd. is Rs 2356.55.

Phoenix Mills Ltd., incorporated in the year 1905, is a Mid Cap company (having a market cap of Rs 42018.96 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 30-09-2023, the company reported a Consolidated Total Income of Rs 906.64 Crore, up 7.99 % from last quarter Total Income of Rs 839.60 Crore and up 32.65 % from last year same quarter Total Income of Rs 683.50 Crore. Company reported net profit after tax of Rs 303.83 Crore in latest quarter.

Promoter/FII Holdings
Promoters held 47.29 per cent stake in the company as of 30-Sep-2023, while FIIs owned 30.01 per cent, DIIs 18.51 per cent.