The Phoenix Mills Ltd. — Investor Presentation 2021

Dec 1, 2021

Corp. Office: Shree Laxmi Woolen Mills Estate, 2nd Floor, R.R. Hosiery, Off Dr. E. Moses Rd. Mahalaxmi, Mumbai - 400 011 Tel: (022) 3001 6600 Fax : (022) 3001 6601 CIN No. : L17100MH1905PLC000200

Date: December 1, 2021

To,

BSE Limited. Phiroze Jeejeebhoy Towers, Dalal Street, Fort, Mumbai – 400001

(Security code: 503100)

National Stock Exchange of India Limited. “Exchange Plaza”, Bandra Kurla Complex, Bandra (E),Mumbai – 400051

(Symbol: PHOENIXLTD)

Dear Sir/Madam,

Sub:- Corporate Presentation- Regulation 30(6) of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015

Pursuant to Regulation 30(6) read with Para A of Part A of Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, (“Listing Regulations”), please find attached herewith the latest Corporate Presentation of the Company.

The aforesaid presentation will be referred by the Company in its future interactions with Investors / Analysts.

This same is also being uploaded on the Company’s website at https://www.thephoenixmills.com in compliance with regulation 46(2) of the Listing Regulations.

We request you to take the above information on record.

Thanking You,

Yours Faithfully, For The Phoenix Mills Limited

GAJENDRA Digitally signed by GAJENDRA MEWARA MEWARA Date: 2021.12.01 22:53:53 +05'30'

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Gajendra Mewara Company Secretary

Regd. Office : The Phoenix Mills Ltd., 462 Senapati Bapat Marg, Lower Parel, Mumbai 400 013. Tel : (022) 2496 4307 / 8 / 9 Fax : (022) 2493 8388 E-mail : info@thephoenixmills.com www.thephoenixmills.com

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The Phoenix Mills Ltd.

Corporate Presentation December 2021

Phoenix Marketcity and Palladium, Chennai

Diversified portfolio across asset class

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Retail Commercial Hospitality Residential
Operational Operational The St. Regis, Mumbai Total Saleable
+ Courtyard by Marriott, Agra
Retail Spaces GLA Office Spaces GLA Area
~7 ~1.6 588 ~4
msf msf keys msf
Under-development &
Under-development &
Under-planning Completed Area
Under-planning
Under-planning
Grand Hyatt, Bengaluru (OC Received)
Retail GLA
Offices GLA
~6 ~5.0 ~300 ~3
msf msf keys msf
Total Total Total Total
~13 msf ~6.6 msf ~888 keys ~4 msf
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Note: Under development and under planning assets are subject to change and carry risks of planning, approvals, execution and market conditions which may be beyond the control of the Company. GLA is an estimate based on current plans and market/company norms and is subject to change based on changes in development plans and tenant negotiations. Grand Hyatt term sheet executed, definitive documentation underway. Data as on 30 September 2021

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Portfolio in India’s top cities

Agra Indore Ahmedabad Hospitality Mall Courtyard by Marriott – (193 keys) Mall Phoenix Citadel Bareilly – Palladium Lucknow (~1 msf) – (~0.7 msf) Mall Phoenix United – (~0.34 msf) Mall Mumbai Phoenix United – (~0.37 msf) Phoenix Palassio – (~0.90 msf) Mall Phoenix Palladium – (~0.77 msf) Bengaluru Phoenix MarketCity – (~1.14 msf) Mall HSP Densification Retail – (~0.5 msf) Phoenix MarketCity – (~1 msf) + Expansion (~0.31 msf) Commercial Phoenix Mall of Asia – (~1.2 msf) Phoenix Paragon Plaza – (~0.44 msf)# Residential The Centrium – (~0.25 msf)# One Bangalore West – (~2.41 msf) Art Guild House – (~0.80 msf)# Kessaku – (~1.03 msf) Phoenix House – (~0.09 msf) Commercial Project Rise – (~1 msf) Phoenix MarketCIty – (~1 msf) Hospitality Phoenix Asia Towers – (~1.2 msf) The St. Regis – (395 keys) Hospitality Kolkata Pune Grand Hyatt – (~300 keys) Mall Chennai Mall Phoenix MarketCity Phoenix MarketCity – (~1.19 msf) – (~1.00 msf) Mall Phoenix Millennium – (~1.1 msf) Phoenix MarketCity – (~1 msf) Palladium – (~0.22 msf) Commercial East Court – (~0.25 msf)[#] Residential Fountainhead Tower 1 – (~0.17 msf) The Crest - A & B – (~0.26 msf) Fountainhead Tower 2 – (~0.25 msf) The Crest - C – (~0.28 msf) Fountainhead Tower 3 – (~0.41 msf) Under-development / planning Commercial Millennium Towers – (~0.60 msf) Gross Leasable / Saleable Area Palladium Offices – (~0.42 msf)

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Includes sold area

Under development and under planning assets are subject to change and carry risks of planning, approvals, execution and market conditions which may be beyond the control of the Company. GLA is an estimate based on current plans and market/company norms and is subject to change based on changes in development plans and tenant negotiations. Data as on 30 September 2021

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Developer of India’s Iconic Mixed Use Developments

Phoenix MarketCity, Mumbai + Offices (Centrium, PPP and Art Guild House)

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Phoenix MarketCity, Bangalore + Offices +
Proposed 5 Star Hotel
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Phoenix Palladium + The St Regis, Mumbai + Offices + Upcoming Project Rise

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Phoenix MarketCity, Pune +
Fountainhead Office Towers
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Phoenix Millennium, Pune + Offices
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Palladium, Chennai + Office Tower

Development timelines and costs carry risks of planning, approvals, execution and market conditions which may be beyond the control of the Company. All images displayed are renders. Plans, design and design elements are subject to change.

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Business Update
Business Performance
Financial Results
Annexure
Phoenix Palladium, Mumbai
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Timeline of Mall re-opening post Second Lockdown

Phoenix Marketcity Pune reopened for an interim period on weekdays (during 14[[th]] - 25[[th]] June) with restricted operational hours (till 8PM) & selected categories only

Phoenix Marketcity and Palladium Chennai started operations (all days) with restricted hours (till 8PM) & selected categories only

opened for an interim period There was a slight extension Mumbai malls opened with Palladium Chennai started on weekdays (during 14[[th]] - of timings in our malls in restricted timings and with operations (all days) with 25[[th]] June) with restricted Chennai & UP, now requirement of staff and restricted hours (till 8PM) & operational hours (till 8PM) operational till 10PM visitors to be fully vaccinated selected categories only & selected categories only 15th 19th 15th 22nd Apr 14th 21st 28th 05th 2021 Jun 21 Jul 21 Jul 21 Jul 21 Aug 21 Oct 21 Jun 21 Jun 21 Phoenix Palassio, Phoenix Phoenix Marketcity Few local restriction were United Bareilly and Lucknow Bangalore started relaxed in Bangalore such as 10 p.m.) across[[th]] started operations with operations (all days) extension of timing (till Mumbai Malls; restricted hours (till 8PM on with restricted hours 9.30PM) and multiplexes reopening of multiplexes with[[nd]] April) weekdays) & selected (till 8PM) & selected were permitted to open with[[nd]] categories only categories only 50% capacity only

Local Restriction were

Relaxation in timing (till 10 p.m.) across Mumbai Malls; reopening of multiplexes with limited capacity across Maharashtra

• imposed on all malls :-

• Phoenix Palladium & PMC Mumbai (6[[th]] April)

• PMC Pune (2[[nd]] April)

• PMC Bangalore (22[[nd]] April)

• PMC Chennai & Palladium (25[th] April)

• Phoenix Palassio, PU Lucknow & Bareilly (16[th] April)

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Robust pace of recovery in Retail Consumption

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Consumption Trend (Rs mn)
20,662
14,347
13,875 13,816
10,124
Second wave led to
restrictions on mall
operations
Lockdown impacted
impacting
consumption due to 4,724
consumption
restrictions on mall
2,589
operations
429
Q3FY20 Q4FY20 Q1FY21 Q2FY21 Q3FY21 Q4FY21 Q1FY22 Q2FY22
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Q2 and H1 FY22 – Consumption across all malls

Q2 FY22 Consumption – Rs 10,124 mn

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As % 65% 92% 60% 33% 81% NA 80% 103%
of Q2
FY20 2,756
2,331
1,477
1,246
1,117
372 467 358
Phoenix PMC PMC Pune PMC Mumbai PMC & Phoenix PU Lucknow PU Bareilly
Palladium Bangalore Palladium Palassio
Chennai
H1 FY22 Consumption – Rs 12,712 mn
As % 71% 86% 46% 44% 78% NA 70% 89%
of H1
FY20 3,286
2,897
1,834
1,549 1,469
564 629 484
Phoenix PMC PMC Pune PMC Mumbai PMC & Phoenix PU Lucknow PU Bareilly
Palladium Bangalore Palladium Palassio
Chennai
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• The 2[nd] wave of the pandemic saw local restrictions being imposed at our malls from April 2021

• Majority of these restrictions were lifted only by mid-August 2021

• Consumption in Q2 FY22 stood at ~Rs 10,124 mn, and in H1 FY22 stood at ~Rs 12,712 mn

• Consumption in Q2 FY22 was at 179% of Q2 FY21 adjusting for the operational days and permitted categories

• Likewise, Consumption in Q2 FY22 (incl. Phoenix Palassio) was 74% of Q2 FY20

All figures in Rs mn. Please note above nos are indicative unaudited numbers and presented for illustration purpose. The actual numbers could be materially different from indicative numbers. *% are calculated after considering effective operational days in each mall in base year. Consumption at Multiplex and FEC has been adjusted in base year calculation.

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Consumption in October 2021 at 91% of October 2019

October 2021 Consumption as % of Oct 2019

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As % 80% 100% 75% 62% 93% NA 63% 79%
of Oct
2019
1,439 1,432
1,051 1,065
710
649
211
159
Phoenix PMC Bangalore PMC Pune PMC Mumbai PMC & Palladium Phoenix Palassio PU Lucknow PU Bareilly
Palladium Chennai
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• Total consumption in October 2021 was Rs. 6,717 mn, 91% of October 2019

• Strong recovery seen across all operational categories with many categories exceeding pre-covid levels

Note: Above nos are indicative unaudited numbers and presented for illustration purpose. The actual numbers could be materially different from indicative numbers

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Consumption in November 2021 at 116% of November 2019

November 2021 Consumption as % of Nov 2019

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As % 105% 120% 106% 87% 78% NA 103% 119%
of Nov
2019
1,560
1,290
1,070
810
700 700
260
200
Phoenix PMC Bangalore PMC Pune PMC Mumbai PMC & Palladium Phoenix Palassio PU Lucknow PU Bareilly
Palladium Chennai
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• Total consumption in November 2021 was Rs. 6,590 mn, 116% of November 2019

• Consumption in PMC Chennai (~ 10 days) and PMC Bangalore (~ 3-4 days) was impacted due to heavy rains in this month

Note: Above nos are indicative unaudited numbers and presented for illustration purpose. The actual numbers could be materially different from indicative numbers

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Business Performance - Retail

Raised equity capital of ~Rs. 4,350 cr in 15 months…

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Qualified Institutional
August 2020 ~Rs. 1,100 cr
Placement (QIP)
JV with CPPIB for Kolkata
May 2021 ~Rs. 384 cr
Development 49% stake for CPPIB
Equity Infusion in existing retail
May 2021 ~Rs. 392 cr
platform with CPPIB (ISML) CPPIB’s share of Commitment, tranche 1 of Rs.
196 cr received
Retail Platform with GIC June 2021 ~Rs. 1,111 cr
26.44% stake for GIC in select subsidiaries
JV with CPPIB for Lower Parel
November 2021 ~Rs. 1,350 cr
Development 49% stake for CPPIB in Plutocrat
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… while optimizing cost of debt and reducing gross debt levels …

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Effective cost of debt (%) Gross Debt (Rs. cr)
9.38%
4,573
9.19% 4,547
4,487
8.17%
7.84%
4,299
Mar' 19 Mar' 20 Mar' 21 Sep' 21 Mar' 19 Mar' 20 Mar' 21 Sep' 21
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• Average cost of debt reduced from 9.38% in March 2019 to 7.84% in September 2021 by 154 bps

• Lowest cost of borrowing stands at 7.34% and expect further resets going forward

• Deferred drawn-downs of construction finance on under construction projects until projects are de-risked (12-18 months before being operational)

… in order to give us the necessary capital autonomy

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Group Level PML Share
Liquidity (Bank balance +
Rs. 19,791 mn Rs. 17,959 mn
Investments + DSRA) []
Gross Debt [#] Rs. 42,986 mn Rs. 31,779 mn
Net Debt Rs. 23,195 mn Rs. 13,820 mn
Q2 FY22 EBITDA [^] Rs. 3,152 mn Rs. 2,485 mn
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*Data as of 25[th] Nov’21; Does not include funds of Rs. 6,610 mn parked in overdraft accounts # Data as of 30[th] Sep’21 ^ includes PML Consolidated EBITDA + EBITDA of Classic Mall & Starboard which are not consolidated

… to keep Delivery timelines for Under Construction Assets on Track

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Phoenix Citadel, Indore
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Palladium, Ahmedabad

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Phoenix Millennium, Pune
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Phoenix Mall of Asia, Bangalore
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• Retail GLA ~1.0 msft under construction

• • Expected to be Operational in FY23

• •

• Ahmedabad’s very Retail GLA ~1.2 msft own luxury mall under construction

• • • Retail GLA ~0.7 msft Office GLA ~0.6 under construction msft under planning

• • • Expected to be Expected to be Operational in FY23 Operational in FY24

• Retail GLA ~1.2 msft under construction

• • Office GLA ~1.2 msft under planning

• • Expected to be Operational in FY24

Under construction projects to be operationalised as per committed timelines and within budget

Update on under-construction Assets

Phoenix Phoenix Citadel, Palladium, Phoenix Mall of Asia, Indore Ahmedabad Millennium, Pune Ban alore g Proposed Retail Retail GLA – ~1.1 msf Retail GLA – ~1.2 msf GLA Retail GLA – ~1 msf Retail GLA – ~0.7 msf Office GLA – ~0.6 msf Office GLA – ~1.2 msf Amount Spent till 4,097 5,763 5,805 9,869 Sep 2021 (Rs Mn) Status update Expected Year of FY23 FY23 FY24 FY24 Operation

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Phoenix Citadel Indore

The biggest Retail Destination of Madhya Pradesh

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Palladium Ahmedabad

The Luxury mall of Gujarat

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Phoenix Millennium Pune

The New Epicentre for West Pune

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Mall of Asia, Bangalore

The Largest Retail led Mixed-use development in Bangalore

Concept Architect – Callison

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Growth by Densification

Offices Fountainhead Tower 1 ~0.17 msf Offices Fountainhead Tower 2 ~0.25 msf Existing Mall (LG + G + 3)

Offices Fountainhead Tower 3 ~0.41 msf

Expansion by densification of mixed use developments

Under Development / Planning Offices	Location	GLA* (msft)
Fountainhead T3 (awaiting OC)	Pune	~0.4
Phoenix Millennium, Wakad – Office	Pune	~1.0
Palladium Chennai – Office	Chennai	~0.4
Phoenix Marketcity Bangalore – Office	Bengaluru	~1.0
Phoenix Mall of Asia, Hebbal – Office	Bengaluru	~1.2
The Rise, Lower Parel	Mumbai	~1.0
Under development / planning Office area		~5.0

Office portfolio to grow from ~1.6 msft to ~6.6 msft in 4 years

Land is already paid for and historically owned by respective SPV

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We continue planning for future marquee developments…

PML & CPP Investments to jointly develop an office-led mixed use development at Lower Parel, Mumbai

• The Phoenix Mills Ltd and CPP Investments, entered into a definitive agreement to jointly develop a ~1.2 msft office-led mixed use development , comprising a Retail component of ~0.2 msft and Office spaces of ~1.0 msft

• To this extent, CPP Investments will invest ~Rs 13.5 bn (through primary & secondary issuance) for a 49% stake in our wholly-owned project SPV, Plutocrat Commercial Real Estate Pvt Ltd

• The balance majority (51%) in the project SPv would be retained by The Phoenix Mills Ltd.

• The Office-led mixed use asset will complement the existing retail led development at Phoenix Palladium, Mumbai and The St. Regis, Mumbai Hotel

Gross Leasable Area (GLA mix) in Retail and Commercial

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Segments
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Retail Commercial

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FY 21 FY 26
6.9 msf 1.9x 13.0 msf
1.6 msf 4.1x 6.6 msf
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Robust growth trajectory to solidify leadership position in mixed use developments in India

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Business Performance - Commercial

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Fountainhead Towers, Pune
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Our Annuity Income Generating Commercial Portfolio

Project Name	Location	**Total Area (msf) **	Area Sold (msf)	Net Leasable Area (msf)		Area Leased (msf)	Average Rate psf.*
Operational Office Portfolio (1.58 MSF)
Art Guild House	Mumbai	0.80	0.17	0.63		0.45	92
Phoenix Paragon Plaza	Mumbai	0.43	0.12	0.31		0.14	101
Fountainhead – Tower 1	Pune	0.17	0.00	0.17		0.16	80
Fountainhead – Tower 2**	Pune	0.25	0.00	0.25		0.10	76
Phoenix House	Mumbai	0.09	-	0.09		0.07	177
Centrium	Mumbai	0.28	0.16	0.12		0.06	118
Total		2.04	0.46	1.58		0.98

Under Development Portfolio (1.83 MSF)	Under Development Portfolio (1.83 MSF)	Under Development Portfolio (1.83 MSF)
Fountainhead – Tower 3	Pune	0.41
Phoenix MarketCity	Chennai	0.42
Phoenix Rise (Lower Parel)	Mumbai	1.00
Total		1.83

**Fountainhead tower 2 area has been recently leased and tenants have started moving in from May 2021 onwards.

*Data as on 30[th] September 2021

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Commercial Portfolio – Performance Summary – Q2 and H1 FY22

Operational Portfolio	Q2 FY22	Q2 FY22	H1 FY22	H1 FY22	EBITDA as % of Total Income	EBITDA as % of Total Income
	Total Income	EBITDA	Total Income	EBITDA	Q2 FY22	H1 FY22
Art Guild House*	232	172	418	309	74%	74%
Phoenix Paragon Plaza	65	38	134	91	58%	67%
Fountainhead – Tower 1	62	47	110	89	75%	81%
Fountainhead – Tower 2
Phoenix House	38	Part of Phoenix Palladium	75	Part of Phoenix Palladium	NA	NA
Centrium*	23	14	46	25	61%	54%
Total	421	270	783	514	64%	66%

All figures in Rs mn.

• Total Income from commercial portfolio in H1 FY22 at Rs 783 mn, up 25% YoY; total EBITDA at Rs 514 mn, up 16% YoY

• Witnessing strong leasing traction in Fountainhead Tower 2; leased ~40% of total leasable area in six months

• Robust collection efficiency at ~94% in Q2FY22

• Prior to Q1FY22, certain proportion of revenues were reported as part of PML standalone. Hence, prior period numbers are not comparable

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Business Update
Business Performance - Hospitality
Financial Results
Annexure
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Phoenix Marketcity, Mumbai
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The St. Regis, Mumbai

	Q2 FY22	Q2 FY21	YoY%	H1 FY22	H1 FY21	YoY%
Revenue from Rooms (Rs. mn)	130	60	116%	196	109	80%
Revenue from F&B and Banqueting (Rs. mn)	129	24	447%	175	34	407%
Other Operating Income (Rs. mn)	28	16	78%	46	36	28%
Total Income (Rs. mn)	287	99	188%	417	180	132%
Operating EBITDA (Rs. mn)	44	-33		5	-74
EBITDA margins (%)	15%	NA		1%	NA
Occupancy (%)	57%	24%		44%	20%
ARR (Rs.)	6,277	6,480	-3%	6,253	7,451	-16%

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The St. Regis, Mumbai – Significant Improvement in Room Occupancy

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Room Occupancy (%)
77%
74%
51%
46%
42%
34%
14%
Apr-21 May-21 Jun-21 Jul-21 Aug-21 Sep-21 Oct-21
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Occupancy levels back at FY20 levels aided by revival in corporate travel and social events

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Courtyard by Marriott, Agra

	Q2 FY22	Q2 FY21	H1 FY22	H1 FY21
Revenue from Rooms (Rs. mn)	26	3	34	3
Revenue from F&B and Banqueting (Rs. mn)	31	3	43	3
Other Operating Income (Rs. mn)	1	0	2	0
Total Income (Rs. mn)	58	6	80	6
Occupancy (%)	56%	7.7%	36%	7.7%
ARR (Rs.)	2,750	3,663	3,089	3,663

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Note: Hotel operations were shut since March 2020 and re-opened on 8[th] Aug 2020. Hence, numbers are not comparable with previous year.

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Courtyard by Marriott, Agra – Significant Improvement in Room Occupancy

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Room Occupancy (%)
62%
60% 60%
47%
26%
23%
1%
Apr-21 May-21 Jun-21 Jul-21 Aug-21 Sep-21 Oct-21
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Occupancy levels back at FY20 levels aided by revival in domestic travel and social events

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Business Performance - Residential

Operational Update – Residential Portfolio

Project Name (operational)	Saleable area (msf)	Saleable area (msf)	Saleable area (msf)	Cumulative Area Sold (msf)^	Cumulative Sales Value (Rs. mn)	Collections in Q2 FY22 (Rs. mn)	Revenue recognized (Rs. mn)	Revenue recognized (Rs. mn)
	Total Area	Area launched	Balance Area				in Q2 FY22	Cumulative
One Bangalore West, Bengaluru	2.41	1.80	0.61	1.38	13,728	271	153	13,281
Kessaku, Bengaluru	1.03	1.03	-	0.37	5,373	516	459	5,373
Total	3.44	2.83	0.61	1.75	19,101	787	612	18,654

Note that of the nine towers in One Bangalore West (OBW), only Towers 1-6 have been launched and completed. Tower 7 was launched in July 2019. Towers 8 & 9 are yet to be launched ^ Sales area includes only those where agreements have been executed with purchasers

Key highlights

• Sold and registered agreements for inventory worth Rs. 612 mn during Q2 FY22 and Rs. 980 mn in H1 FY22

• Collections in Q2 FY22 were Rs. 787 mn and Rs. 1,149 mn in H1 FY22

• Sales trajectory has seen good improvement backed by strong demand and faster conversions. Momentum in sales expected to continue in H2 FY22

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One Bangalore West, Bengaluru

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Kessaku, Bangalore – Living Spaces Crafted in Luxury & Style

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Actual Site Picture
Actual Site Picture
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Annexure

Palladium Chennai

Retail Rental Income for Q2 FY22

Name of Asset	Q2 FY22	Q2 FY22	Q2 FY21	Q2 FY20 (pre- COVIDperiod)
	Retail Income	% of Q2 FY20 (pre-COVID period)	Retail Income	Retail Income
	(Rs. mn)		(Rs. mn)	(Rs.mn)
Phoenix Palladium	466	53%	334	879
Phoenix Marketcity Bangalore	351	97%	128	360
Phoenix Marketcity Pune	221	52%	136	427
Phoenix Marketcity Mumbai	177	55%	87	321
Phoenix Marketcity and Palladium Chennai	393	83%	74	475
Phoenix United Lucknow	74	94%	37	79
Phoenix United Bareilly	58	106%	28	55
Sub Total	1,739	67%	825	2,595
Phoenix Palassio (operational from July 2021)	245	N.A.	37	N.A.
Grand Total	1,984	76%	861	2,595

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Retail EBITDA for Q2 FY22

Name of Asset	Q2 FY22	Q2 FY22	Q2 FY21	Q2 FY20 (pre- COVIDperiod)
	EBITDA	% of Q2 FY20 (pre-COVID period)	EBITDA	EBITDA
	(Rs. mn)		(Rs. mn)	(Rs. mn)
Phoenix Palladium	355	46%	236	767
Phoenix Marketcity Bangalore	384	103%	148	373
Phoenix Marketcity Pune	207	48%	138	436
Phoenix Marketcity Mumbai	160	48%	96	331
Phoenix Marketcity and Palladium Chennai	426	97%	64	440
Phoenix United Lucknow	68	92%	25	74
Phoenix United Bareilly	59	125%	33	47
Sub Total	1,659	67%	741	2,468
Phoenix Palassio (operational from July 2021)	253	N.A.	37	N.A.
Grand Total	1,912	77%	777	2,468

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Retail Rental Income for H1 FY22

Name of Asset	H1 FY22	H1 FY22	H1 FY21	H1 FY20 (pre- COVIDperiod)
	Retail Income	% of H1 FY20 (pre-COVID period)	Retail Income	Retail Income
	(Rs. mn)		(Rs. mn)	(Rs. mn)
Phoenix Palladium	759	43%	678	1,760
Phoenix Marketcity Bangalore	463	64%	248	719
Phoenix Marketcity Pune	329	38%	261	859
Phoenix Marketcity Mumbai	265	41%	174	644
Phoenix Marketcity and Palladium Chennai	542	58%	208	942
Phoenix United Lucknow	102	65%	59	156
Phoenix United Bareilly	77	69%	40	111
Sub Total	2,537	49%	1,667	5,190
Phoenix Palassio (operational from July 2021)	317	N.A.	37	N.A.
Grand Total	2,854	55%	1,704	5,190

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Retail EBITDA for H1 FY22

Name of Asset	H1 FY22	H1 FY22	H1 FY21	H1 FY20 (pre- COVIDperiod)
	EBITDA	% of H1 FY20 (pre-COVID period)	EBITDA	EBITDA
	(Rs. mn)		(Rs. mn)	(Rs. mn)
Phoenix Palladium	703	45%	639	1,547
Phoenix Marketcity Bangalore	505	67%	283	758
Phoenix Marketcity Pune	305	35%	256	876
Phoenix Marketcity Mumbai	241	37%	174	654
Phoenix Marketcity and Palladium Chennai	565	60%	189	936
Phoenix United Lucknow	98	67%	52	146
Phoenix United Bareilly	79	74%	50	107
Sub Total	2,497	50%	1,643	5,023
Phoenix Palassio (operational from July 2021)	334	N.A.	37	N.A.
Grand Total	2,831	56%	1,680	5,023

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Sustainability Initiatives at Operational Malls

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Waste Water Energy Emission
Management Conservation Conservation Control
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Waste Management	Waste Management	Water Conservation	Water Conservation	Energy Conservation	Energy Conservation	Emission Control
• Organic waste conversion and wet waste conversion equipment installed to ensure faster decomposition • Tie up with authorized vendors for E-waste recycling • Professional vendor to dispose and recycle dry waste • Hazardous waste management done with the help of authorized agency • Reduction in paper consumption		• Recycling of wastewater by Sewage treatment plant (STP) for use in toilets, gardening and HVAC cooling tower • Conserved Rainwater is used in toilets and for cooling tower requirement • Natural ground water discharge is taken into treatment plant and used for domestic purposes		• Replacement of CFL with LED lamps across malls • Common area lighting integrated on building management system (BMS) for optimised usage and saving energy • Electrical vehicle charging stations being installed at mall premises • Multiple new energy efficient components, machines or technology used instead of older equipment and devices		• Diesel Generator Effluents are tracked to ensures the same is within recommended parameters • All Air Handling Units (AHU) old filters replaced with MERV -13 Filters for enhanced Indoor AQI • Ozoniser installed in STP to minimize H2S levels in the exhaust system • Calibration of DG fuel system being undertaken to determine the amount of unburnt fuel content in the Stack emissions

Sustainability Initiatives at Under Construction Malls

No	Sustainable Metrics	Phoenix Citadel	Phoenix Millennium	Phoenix Mall of Asia
1	Pre-Certification LEED Ratings	Silver	Gold	Gold
2	Sustainable Design Approach	Adapted	Adapted	Adapted
3	Fundamental And Enhanced Commissioning	Adapted	Adapted	Adapted
4	Low Emitting Material	Adapted	Adapted	Adapted
5	Monitoring Based Commissioning	Adapted	Adapted	Adapted
6	High Standards Followed for construction like SMACNA and NBC	Adapted	Adapted	Adapted
7	ECO Friendly Refrigerant	Adapted	Adapted	Adapted
8	Rain Water Harvest	100%	100%	100%
9	Reuse of Treated Waste Water	100%	100%	100%

All new projects follow Leadership in Energy and Environmental Design (LEED) rating systems, created by United States Green Building Council (USGBC)

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Q2 FY22 Debt Across Subsidiaries

Operational	Asset TypeQ1	SPV	Asset Name	PML Group Ownership*	Q1FY22 (Rs. Mn)	Q2FY22 (Rs. Mn)
	Retail & Mixed-Use	PML Standalone	High Street Phoenix,Mumbai	100%	5,735	5,383
		Classic Mall Development	Phoenix MarketCity, Chennai	50%	7,037	6,843
		Vamona Developers	Phoenix MarketCity, Pune	74%	4,304	4,381
		Island Star Mall Developers	Phoenix MarketCity,Bangalore	51%	4,361	4,286
		Starboard Hotels Pvt Ltd	Phoenix Palladium,Chennai	50%	1,746	1,731
		Offbeat Developers	Phoenix MarketCity, Mumbai	74%	5,896	5,900
			Art Guild House (Commercial)
			Centrium (Commercial)
		Blackwood Developers	Phoenix United,Bareilly	100%	899	868
		UPAL Developers	Phoenix United,Lucknow	100%	638	616
		Graceworks Realty & Leisure	Phoenix Paragon Plaza (Commercial)	74%	1,081	1,066
		DestinyHospitality	Phoenix Palassio,Lucknow	100%	4,280	4,372
	Hotel & Residential	Palladium Constructions	One Bangalore West & Kessaku (Residential) Courtyard byMarriott,Agra(Hotel)	100%	1,310	807
		Pallazzio Hotels & Leisure	The St. Regis, Mumbai	73%	4,995	5,132
	Office	Alliance Spaces	Fountainhead	100%	600	632
Under Development	Retail	SGH Realty LLP	Palladium, Ahmedabad	50%	685	968
	Total		Total		43,567	42,985

• represents PML’s effective stake post completion of the scheme of amalgamation; the scheme has been approved by shareholders and is awaiting NCLT final approval

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Shareholding Pattern as on 30[th] September 2021

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Shareholding Pattern
4.2%
18.0%
45.5%
32.3%
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Sr. No	Top Institutional Investors	% Shareholding
1	SCHRODER	7.66%
2	GIC	4.32%
3	ICICI PRDUENTIAL AMC	3.25%
4	UTI	1.97%
5	MOTILAL OSWAL	1.90%
6	DSP MF	1.90%
7	BAILLIE GIFFORD	1.87%
8	VANGUARD	1.85%
9	SBI MF	1.82%
10	ADITYA BIRLA SUNLIFE MF	1.79%
Total – Top 10 Institutional Investors		28.34%

Promoters FII DII Others

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Thank you

Advait Phatarfod Email: advait.p@phoenixmarketcity.in

Rohan Rege Email: rohan.rege@phoenixmarketcity.in

Bijay Sharma Contact: +91 22 6169 5988 Email: pml@churchgatepartners.com

Website: https://www.thephoenixmills.com/investors

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