Phoenix Mills sees 192% jump in consumption by shoppers

New Delhi: Mumbai based realty player Phoenix Mills has seen 192 percent sequential growth in consumption by shoppers in its malls at Rs 1,370 crore in last quarter of 2020 calendar year.

This is about 65 percent of the overall consumption registered in the previous quarter (September quarter of 2020).

The company has seen “sustained recovery” in consumption in its malls since reopening. “Consumption in December 2020 was steady at about Rs 500 crore, at the same level as November 2020 and at 70 percent of December 2019,” the company said in a regulatory filing.

The retail collections of the company, saw “sharp improvement”. In the third quarter of fiscal 2020-2021, the total collections stood at Rs 260 crore. The total retail collections for 9 months ended in December 2020 was Rs 390 crore.

In is housing projects- ‘One Bangalore West’ and ‘Kessaku’, the company has been able to sell homes units with total sales amount of Rs 74 crore in the December quarter. For 9 months ended December 2020, Phoenix Mills  sold 24 homes worth Rs 140 crore.

The company has 9 operational malls in six cities of the country.