/ -- Q1 Retail rental income at INR 2.4 billion, up 15% y -o-y
Financial Highlights - Q1 FY2019 Consolidated
Commenting on the financial performance, Mr. Pradumna Kanodia, Director - Finance, The Phoenix Mills Limited said, "An excellent performance during the quarter in our retail and commercial portfolios helped us post 11% y-o-y growth in EBITDA and an impressive 40% y-o-y growth in profit after tax. This is helping us generate superior cash flows which we are prudently deploying for our growth initiatives, resulting in much lesser additional debt relative to our deployment. Improvement in credit ratings across our SPVs is a testimony to the company's conservative and prudent fiscal discipline. The company's future growth plans will also be guided by such judiciously planned capital allocation strategy."
Aggregate consumption across our malls during Q1 FY2019 was INR 17.0 billion, up 5% y-o-y Aggregate retail rental income across our malls was INR 2.4 billion, up by 15% y-o-y PML has closed 4 acquisitions - land parcels in Bangalore and Ahmedabad, under-construction retail assets in Lucknow and Indore - between April and July 2018 Together with Wakad, Pune, the above acquisitions take our under-development retail leasable portfolio to c.4.6 million sq.ft Commercial - contributed 4% to Q1 FY2019 revenue
As on June 30, 2018, the company leased 0.81 million square feet out of 1.16 million square feet of net leasable area Rental income from commercial portfolio came in at INR 149 million Art Guild House in Mumbai generated a rental income of INR 94 million during Q1 Hospitality - contributed 19% to Q1 FY2019 revenue
Q1 FY19 Room Revenues were up 8% y-o-y to INR 294 million ARR for the quarter was INR 11,295, up 5% y-o-y Q1 FY19 average occupancy was strong at 74%, up 2 percentage points compared to the prior year period EBITDA for Q1 FY19 at INR 242 million was up 9% y-o-y Courtyard by Marriott, Agra
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