Page 3 - Malls

Covid crisis: Shop, eatery owners in Delhi, Mumbai expect muted unlocking

With restrictions on timings and capacity in Mumbai and Delhi, they don't expect to make much money

Staring at huge losses, malls seek to reopen as Mumbai begins unlock

Shop timings extended but formal spaces still shut, say industry players

Phoenix Mills, Brigade Ent: Mall operators not out of woods, say analysts

Weakening financial profile of tenants, particularly of highly impacted sectors, such as multiplexes, food courts and restaurants, due to localized restrictions is expected to hit mall operators, says

Mall rentals fall up to 50% as second Covid-19 wave hits business

Developers non-committal about rent waivers, offer longer revenue-share periods

Malls' revenues to remain lower than pre-Covid levels this fiscal: Report

Despite a healthy rise expected in their toplines this fiscal on a lower base, malls' revenues will still be up to a fifth lower than the quantum seen before the pandemic, a report said on Wednesday. The shopping malls' revenue is likely to grow by 45-55 per cent in FY22, after the 45 per cent dent in the previous fiscal due to the lockdowns, ratings agency Crisil said. It also pointed out that even at the end of the FY22, the topline will be only 80-85 per cent of the industry performance before the pandemic. Commenting on the fresh restrictions after the second wave of infections, the agency said the curbs will affect retail sales but the debt servicing capability of the malls is not likely to be impacted because of strong sponsors and healthy liquidity profiles. "We foresee retail sales in malls declining significantly in the first quarter of this fiscal versus pre-pandemic levels because of fresh restrictions, and recovering gradually by the end of the first half," its senior .

The second wave: Migrant crisis looms again as Covid-19 curbs expand

Lack of business to hit payouts, pushing people out of jobs and cities

Second Covid-19 wave: Mumbai restaurants, malls, hotels feel the pinch

Return of restrictions pushes business down 50% and more

Intensify effort in Covid superspreader areas like malls: Delhi govt to DMs

Calling malls, cinema halls and religious places "superspreader" areas, the Delhi government has directed all district magistrates to greatly intensify enforcement of Covid-19 norms in such places

Hotels, malls face tighter curbs in Maharashtra amid spike in Covid cases

No social, political or religious gathering will be allowed in Maharashtra and capacity in cinemas, malls and restaurants will be curbed at 50 per cent as part of state government's measures

Will exploit future acquisitions with Singapore-based GIC: Phoenix Mills MD

Shishir Shrivastava, MD of Phoenix Mills, talks about about the rationale behind the new venture with Singapore-based GIC.

Prestige Estates Projects looks to offload residual stake in malls

Prestige will sell 85-87 per cent in its nine operational malls to Blackstone in places such as Bengaluru, Mysuru, Mangaluru, and Hyderabad

Unlock 4.0: User industries turn to innovations as economy opens up further

A gamechanger for offices and factories in the country, the Shycocan, which can clear an area of 1000 square feet from coronaviruses, was discovered by accident

Migrant workers from Nepal start returning to India as economy reopens

More than a thousand workers from Nepal have been crossing the Customs at Kailali District of Southern Plain of Nepal to rejoin their jobs in India

Phoenix Mills: Resumption uncertainty to keep stock under pressure

While the company has cash to sustain operations, near term revenues will take a hit

Top headlines: Tata may sell JLR, UK steel biz, CBDT undergoing facelift

From Tata likely to sell JLR and UK steel operations in UK, Covid-19 drug sales performing well to private train operators allowed to choose halt stations, here are the top news of the day

Malls, retailers begin talks again over rentals as business remains weak

While mall owners gave full, and in some cases, half waivers to retailers on monthly rentals during lockdown months, retailers say this may not be enough

Malls in Mumbai resume operations after four months; rains hinder footfall

Even as torrential rains lashed the city, the malls in Mumbai witnessed 15-20 per cent footfall on Wednesday, on opening after a gap of over four months.

Mall revenues set to halve this financial year due to Covid, says Crisil

The top-10 Crisil-rated malls have a total rated debt of Rs 4,200 cr and a high DSCR of 1.5 times, so impact on their credit quality is likely to be limited in the near term, the agency says

Mall developers blink, rework rent for retailers, offer discounts

Phoenix, Inorbit, Brigade offer waiver, discounts

Start-ups tap technology to get malls, hotels back on track amid Covid fear

Start-up companies are assisting businesses to conform to the government's 'social distancing' norms and insulate their air conditioning systems from the shock of virus