Phoenix Mills shares surged over 3% in early morning trade after Motilal Oswal upgraded the stock to a “Buy” with a target price of ₹2,044. The brokerage highlighted strong growth prospects from the company’s upcoming projects and solid performance across its retail, office, and hospitality segments.
According to Motilal Oswal, the commissioning of new malls is expected to boost rental income growth beyond FY27, with retail rental income projected to grow at a 21% compound annual growth rate (CAGR) between FY25 and FY27, reaching ₹28 billion by FY27.
The company’s office portfolio is set to triple in size, while the hotel segment is likely to benefit from strong occupancy and improved room rates. The brokerage noted that Phoenix Mills’ diversified growth engines and ability to monetize new capacity position it well for long-term shareholder value creation.
Motilal Oswal also emphasized the company’s consistent execution track record and strong balance sheet as key factors supporting its positive outlook on Phoenix Mills.
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