Multiplexes are still not performing very well, content pipeline is weak: Phoenix Mills

On malls and multiplexes, Shrivastava said, “Multiplexes are not still performing very well, there is also a very weak content pipeline. But I am hoping that in the next quarter we are going to start seeing some new releases and as Mumbai continues to improve in terms of numbers of cases etc. people will start getting the confidence of going back into movie theatres.”

On normalcy, he said, “I would compare it to FY19, nine months of FY19. On FY20 and FY19, I would say, we are at close to about 70 percent of consumption compared to FY19 numbers in this last quarter. If one were to crystal gaze and give some indication I would say that the next 6 months should take us back to where we were in FY20 in the same period.”

On earnings, Shrivastava said, “We have seen no cash flow loss as such, we are cash flow positive and we have seen about Rs 170 crore of free cash flows even after interest and tax. After capex we would be about Rs 40 crore positive.”

“We have seen some very good performance from our commercial office portfolio and the residential portfolio as well which is adding to our profitability and strong cash flow.”