Phoenix Mills' share price experienced a 2% increase during the opening trades on October 9, 2024, following the release of impressive financial figures for September. Investors showed confidence in the stock, which was trading at ₹1,690, up by ₹33.35, or 2.01%, on the Bombay Stock Exchange (BSE) at 09:22 AM.
Strong retail consumption growth
In the second quarter of FY25, Phoenix Mills reported a remarkable 25% growth in retail consumption, amounting to ₹3,289 crore. The company's gross retail collections also saw a significant rise of 27%, reaching ₹812 crore compared to the same period in FY24. Such robust numbers suggest that now could be a great time to buy shares online for those looking to capitalise on this upward trend.
Impressive half-year performance
When examining the performance over the first half of FY25, the company's consumption again rose by 25%, totalling ₹6,506 crores. Meanwhile, gross retail collections surged by 29% to ₹1,610 crore compared to the first half of FY24. This consistent growth reinforces the value of Phoenix Mills shares and supports the decision to buy shares online, particularly for investors seeking long-term gains.
Residential sales boost
In the second quarter of the current financial year, Phoenix Mills reported gross residential sales of ₹27 crore and collections amounting to ₹65 crore in Q2 FY25. These figures further highlight the company's diverse revenue streams and its commitment to expanding its portfolio, making it an attractive option for those interested in buying shares online.
Strategic land acquisitions
In September 2024, Phoenix Mills' subsidiary, Casper Realty, successfully secured two prime plots in Mohali, Punjab, totalling approximately 13.14 acres, after being declared the highest bidder in an auction conducted by the Greater Mohali Development Area Authority (GMADA).
Additionally, the company acquired a land parcel of around 9.03 acres in Coimbatore through Astrea Real Estate Developers Private Limited in August. Such strategic land acquisitions suggest a proactive approach to future development, enticing investors to consider buying shares online as part of their investment strategy.
Stock performance overview
Phoenix Mills shares have demonstrated notable fluctuations over the past year, achieving a 52-week high of ₹2,068.15 and a low of ₹862.50 on July 18, 2024, and October 26, 2023, respectively.
Currently, the stock is trading at a level that is 18.28% below its 52-week high but remains 95.94% above its 52-week low. This resilience in the stock's performance makes it an appealing option for investors, especially those looking to buy shares online and take advantage of potential market rebounds.
Take action: Invest today
Phoenix Mills' impressive financial performance in September 2024 and strategic land acquisitions position the company favourably in the market. For investors seeking opportunities, this may be an ideal time to buy shares online and benefit from the company's growth trajectory.
With a robust increase in retail consumption and consistent expansion efforts, Phoenix Mills stands out as a promising investment option.
For android only