Top mall developers in
India are reworking their rental agreements with retailers after reopening of malls in most cities after Lockdown.
We have find that Brigade, DLF
and Prestige are working on rent waivers to the Retailers, with conditions
of absence of any outstanding dues by its retail partners.
While Phoenix
Mills Ltd is the only developer which has worked out a three-month rent deferral programme for its
tenants. It will not affect it balance sheet adversely compare to others.
Valuations : Phoenix Mills Ltd is now Trading atX1.5 of
its expected earnings of FY2020 & Margin of Safety (1Yr Bond Yield:
Value>1 ) is 1.1
We have find that Brigade, DLF
and Prestige are working on rent waivers to the Retailers, with conditions
of absence of any outstanding dues by its retail partners.
While Phoenix
Mills Ltd is the only developer which has worked out a three-month rent deferral programme for its
tenants. It will not affect it balance sheet adversely compare to others.
Valuations : Phoenix Mills Ltd is now Trading atX1.5 of
its expected earnings of FY2020 & Margin of Safety (1Yr Bond Yield:
Value>1 ) is 1.1
Disclaimer : We are / may going to take exposure
shortly.
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