Phoenix Mills Expands Pune Footprint with Grand Opening of ‘Phoenix Mall of the Millennium’

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    The Phoenix Mills Limited (PML), a prominent player in India’s real estate sector, has unveiled its latest venture in Pune, marking its second mall in the city, named “Phoenix Mall of the Millennium.” This expansive retail destination sprawls across 16 acres and encompasses over 12 lakh square feet (sq. ft.) of gross leasable area. It is strategically located in the vibrant West Pune area of Maharashtra.

    PML, in collaboration with the Canada Pension Plan Investment Board (CPP Investments), has brought this project to life. With an operational retail portfolio spanning over 1.1 crore sq. ft. of leasable area, distributed across 12 retail consumption hubs in 8 gateway cities of India, PML is the leading owner and operator of destination retail malls in the country.

    The forthcoming Phoenix Mall of the Millennium aims to provide a holistic shopping, entertainment, and dining experience to visitors. Moreover, the project places a strong emphasis on sustainability while harmoniously blending Pune’s rich culture and heritage with the dynamic energy of a cosmopolitan hub. The development is expected to create employment opportunities for more than 10,000 individuals and will incorporate modern office spaces.

    Phoenix Mills Ltd specializes in mall operations, commercial and residential property construction, and the hospitality industry in India. As a retail mall developer and operator, the company boasts a significant presence with approximately 0.64 million square meters of retail space across 9 malls in 6 gateway cities throughout India. In total, the company has developed over 2.11 million square meters.

    On the trading front, Phoenix Mills witnessed a surge in its share price, closing at Rs 1,842.95 per share, marking a 1.67 percent increase on Friday. The stock reached an intraday high of Rs 1,858.95 and an intraday low of Rs 1,819.95, accompanied by a notable increase in trading volume on the BSE.

    With a market capitalization exceeding Rs 33,000 crore and consistently positive quarterly and annual results, Phoenix Mills has delivered remarkable returns, experiencing a multibagger growth of over 900 percent in the past decade. Investors are advised to closely monitor this dynamic real estate stock for potential opportunities.

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