Motilal Oswal has upgraded Phoenix Mills to buy with a target price of ₹2,044, citing strong growth visibility from upcoming projects and robust performance across retail, office, and hospitality segments. The brokerage expects the commissioning of new malls to drive rental income growth beyond FY27, with retail rental income projected to grow at a 21% compound annual rate between FY25 and FY27, reaching ₹28 billion by FY27.
The office portfolio is expected to expand threefold, while the hotel business is set to benefit from strong momentum in occupancy and rates. Motilal Oswal said Phoenix Mills’ diversified growth engines, along with its ability to monetise new capacity, position it well to deliver long-term shareholder value. The brokerage added that the company’s execution track record and strong balance sheet further bolster its positive stance on the stock.
Disclaimer: The views and recommendations made in this article are those of Motilal Oswal. This article does not constitute investment advice. Investors should consult their financial advisors before making any investment decisions.
