Buy Phoenix Mills, target price Rs 1360: HDFC Securities

Buy Phoenix Mills, target price Rs 1360: HDFC Securities
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Synopsis

Phoenix Mills Ltd., incorporated in the year 1905, is a Mid Cap company (having a market cap of Rs 17656.27 Crore) operating in Real Estate sector.

Promoters held 45.48 per cent stake in the company as of 30-Sep-2021, while FIIs owned 32.29 per cent, DIIs 18.04 per cent.

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HDFC Securities has buy call on Phoenix Mills with a target price of Rs 1360. The current market price of Phoenix Mills Ltd. is Rs 1021.25. Time period given by analyst is one year when Phoenix Mills Ltd. price can reach defined target.

Phoenix Mills Ltd., incorporated in the year 1905, is a Mid Cap company (having a market cap of Rs 17656.27 Crore) operating in Real Estate sector.

Phoenix Mills Ltd. key Products/Revenue Segments include Licence Fees, Service Charges and Sale of services for the year ending 31-Mar-2021.


Financials
For the quarter ended 30-09-2021, the company reported a Consolidated Total Income of Rs 387.22 Crore, up 78.97 % from last quarter Total Income of Rs 216.36 Crore and up 68.83 % from last year same quarter Total Income of Rs 229.36 Crore. Company reported net profit after tax of Rs 63.16 Crore in latest quarter.



Promoter/FII Holdings
Promoters held 45.48 per cent stake in the company as of 30-Sep-2021, while FIIs owned 32.29 per cent, DIIs 18.04 per cent.
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