ys THE PHOENIX MILLS LIMITED Corp. Office: Shree Laxmi Woolen Mils Estate, 2nd Floor, FAR Hosiery, Of r. €, Moses Rd. Mahalaxm, Mumbai - 400 011 To: (022) 3001 8800 Fax: (022) 3001 6801 ‘CINNo, :L17100MHS905°LC000200, November 14, 2016 ‘The Corporate Relationship Department BSE Limited Phiroze Jeejeebhoy Towers Dalal Street, Mumbai- 400 001 The Corporate Relationship Department The National Stock Exchange of India Ltd Bandra-Kurla Complex, Mumbai. Ref: The Phoenix Mills Limited (503100/ PHOENIXLTD) Sub: Un-audi ii esult: Company fc nd Qu Ye mber 16 Dear Sir(s), Pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations"), the Board of Directors of the Company in its meeting held today, November 14, 2016, which concluded at 5:50 P.M, has approved the un-audited standalone and consolidated financial results of the Company for the second quarter and half year ended September 30, 2016. Accordingly, we are enclosing herewith the un-audited standalone and consolidated financial results of the Company along with the Limited Review Report issued by the Statutory Auditors for the second quarter and half year ended September 30, 2016. We request you to kindly take the same on record. Regards, For The Phoenix Mills Limited a A Puja Tandon Company Secretary Regd. Office: The Phoenix Mills Li, 462, Senapati Bapa Marg, Lower Perel, Mumbai 400 013. Te: (022) 2496 4907 8 9 Fax: (022) 2483 8388 E-mal:nfo@the phoorixmits.com -ww.thephoenxmils. comINDEPENDENT AUDITORS’ REVIEW REPORT To, ‘The Board of Directors ‘The Phoenix Mills Limited LIMITED REVIEW REPORT OF THE UNAUDITED STANDALONE RESULTS OF THE PHOENIX MILLS LIMITED FOR THE QUARTER AND SIX MONTHS ENDED 30" SEPTEMEBR, 2016 1. We have reviewed the accompanying statement of unaudited standalone financial results of The Phoenix Mills Limited for the quarter and six months ended 30" September, 2016. This statement is the responsibility of the Company's Management and has been approved by the Board of Directors. Our responsibility is to issue a report on these financial statements based on our review. 2. We conducted our review in accordance with the Standard on Review Engagements (SRE) 2410, “Review of Interim Financial Information Performed by the Independent Auditor of the Entity” issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the financial statements are free of material misstatement. A review is limited primarily to inquiries of company personnel and analytical procedures applied to financial data and thus provide less assurance than an audit. We have not performed an audit and accordingly, we do not express an audit opinion 3. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying statement, prepared in accordance with the Indian Accounting Standards and other recognized accounting practices and policies generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Circular No. CIR/CFD/FAC/62/2016 dated Sth July, 2016, ineluding the ‘manner in which itis to be disclosed, or that it contains any material misstatement. For A. M. Ghelani & Company For Chaturvedi & Shah Chartered Accountants Chartered Accountants (Firm Registration No. 103173) (Firm Registration No. 101720W) get Chintan Partner Membership No, 104391 Place: Mumbai Date: 14-11-2016 Partner Membership No. 102749 Place: Mumbai Date: 14-11-2016 Enclosed: Unaudited financial results for the quarter and six months ended 30" September, 2016 of The Phoenix Mills Limited.weer sor corn ss scorn wee sevice worn — | seus seowe | sssere unt opm way sao] / BRS HN oopesdg mo sca | FS ssuseasos | ouzseoros | swryoorec | swzpoorec_| on ons 20 PRT AAS SDP ON AT SanIaNE econ taster WOLF ON moomanooqdagan mapas BormreDoRS PBN FE 6/0 /0E96KE C2) PL Food - que eg mary Em wee wedea3g z= AHO PAL ve aurea. 1146 GN SHLLNOR NOS RAENVND BH. WOd SLINSHW WVOONVNIA GLIGOYNA NOWONYIS (cr romaCoE SS 0 quant a popes om Ram ‘ar SON HO FPG Bose Fo DAAC] JO PRO a Ja OST Wo age ong any SED pay PM TE ORE‘THE PHOENIX MILLS LIMITED Cin No- L17100MH190SPLC000200 + Roo-corrent assets 3) Propet, plant and equipment ) Capital workin- progress ) Intangible assets 1) Financial assets ‘investment ‘ip Loan 1) Other Financial assets fo Defered tx asses (Net) Otter non-curent asses “ 2 [current assets [Financial assets 1) Trade receivables i) Cash and cash equivalents ii Loans iv) Other financial assets >) Ore curent ase Oy TOTAL (A+ JeQUITY AND LIABILITIES + feguiey a Equity Share capital ) Other equity w Lites 2 frmewrentttis [rnc aie D Bowie bse Rone amcme ie o 23 [Current tabi a) Financial bites i) Borrowings i) Trade Payables i) Other financial abilities +) other curent abilities ) Provisions ) Current Tax Liabilities (Net) © TOTAL (A+B+C) Jpradumna Kenosia rector Firance rbot [Dated 14m November 2016 Balance Sheet as at 30th September 2016 inbocs particulars eat 30th September 2016 lasers 43,563.75, inai3.80 oat 18134649 3081559 3875.56 638.12 29,133.70, 300,787.82 191534 $28.80 35,078.65 5,898.80 1116.88 HS38.48 jt 35630 3,061.34 235,808.54 ATO, 61,289.20 38.74 10,501.82 TEmee inasi7s Lo13.s2 8172.92 TITS 66 ‘467 202.16, 34532630INDEPENDENT AUDITORS’ REVIEW REPORT To, The Board of Directors ‘The Phoenix Mills Limited LIMITED REVIEW REPORT OF THE UNAUDITED CONSOLIDATED RESULTS OF THE PHOENIX MILLS. LIMITED FOR QUARTER AND HALF YEAR ENDED 30" SEPTEMBER, 2016 |. We have reviewed the accompanying statement of Unaudited Consolidated Financial Results of The Phoenix N Limited (“the Company") and its subsidiaries (together referred to as “the Group") and its associates forthe quarter and half year ended 30" September 2016 (“the Statement"). This statement is the responsibility of the Company's Management and has been approved by the Board of Directors. Our responsibility is fo issue a report on these financial statements based on our review. 2. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity”, issued by the Institute of Chartered Accountants of India, This Standard requires that we plan and perform the review to obtain ‘moderate assurance as to whether Statement is free of material misstatements. A review is limited primarily to inquiries of Company personnel and analytical procedures applied to financial data and thus provide less assurance than an audit. We have not performed an audit and accordingly we do not express an opinion, 3. The Statement includes the results of following enti List of Subsidiaries: Alliance Spaces Private Limited; Bellona Hospitality Services i; Big Apple Real Estate Private Limited; Blackwood Developers Private Limited; Butala Farm Lands Private Limited; Classic Mall Development Company Private Limited; Enhance Holdings Private Limited; Gangetic Developers Private Limited; Gangetic Hotels Private Limited; Graceworks Reality and Leisure Private Limited; Island Star Mall Developers Private Limited; Market City Management Private Limited; Matketcity Resources Private Limited; Mugwort Land Holdings Private Limited; Offbeat Developers Private Limited; Palladium Constructions Private Limited; Pallazzio Hotels and Leisure Limited; Phoenix Hospitality Company Private Limited; Pinnacle Real Estate Development Private Limited; Plutocrat Assets & Capital Management Private Limited; Sangam Infrabuild Corporation Private Limited; Savannah Phoenix Private Limited; Upal Developers Private Limited; Vamona Developers Private Limited List of Ass Classic Housing Projects Private Limited; Escort Developers Private Limited; Mirabel Entertainment Private Limited; Starboard Hotels Private Limited; 4, The accompanying Statement includes: ) Unaudited financial results of twenty two subsidiaries, which reflect total assets of Rs. 601,872.29 Lacs, total revenue of Rs. 35,864.92 Lacs and Rs. 67,605.57 Lacs for the quarter and half year ended 30" September, 2016, respectively and the total profit after tax of Rs. 2727.40 Lacs and Rs. 4,177.35 Lacs for the quarter and half year tended 30° September, 2016 and financial results of three associates in which the share of profit of the Group is. Rs. 2.40 Lacs and Rs. 11.54 Lacs for the quarter and half year ended 30" September, 2016, respectively, that hhave been reviewed by one of us. Page 1 of 2b) We did not review the unaudited financial results of two subsidiaries, which reflect total assets of Rs. 118,212.10 Lacs as at 30% September, 2016, total revenue of Rs. $804.79 lacs and Rs. 11,113.40 Lacs for the quarter and half year ended 30” September, 2016, respectively and the total loss after tax of RS. 2686.46 Lacs and Rs, 5,698.14 Lacs for the quarter and half year ended 30" September, 2016, respectively and Unaudited financial results of one associate in which the share of profit ofthe Group is Rs. 0.06 Laes and Rs. 0.03 Lacs for ‘the quarter and half year ended 30" September, 2016, respectively. These unaudited financial results have been reviewed by another auditor whose reports are furnished to us and our report in 50 far as it relates to the amounts included in respect ofthese subsidiaries and associates is based solely on the report of other auditors. ur opinion is not qualified in respect of these matters, 5. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying statement prepared in accordance with the Indian Accounting Standards and other recognized accounting practices and policies generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with SEBI Circular No. CIR/CFD/FAC(62/2016 dated Sth July, 2016, including the _manner in which itis to be disclosed, or that it contains any material misstatement. For A. M. Ghelani & Company For Chaturvedi & Shah Chartered Accountants ‘Chartered Accountants (Firm Registration No. 103173W) (Firm Registration No. 101720W) Chintan A. fihetani gS Jignesh Mehta Partner ip No. 104391 ‘Membership No, 102749 Place: Mumbai Place: Mumbai Date: 14" November, 2016 Date: 14" November, 2016 Enclosed: Unaudited consolidated financial results for the quarter and six months ended 30th September, 2016 of ‘The Phoenix Mills Limited Page 2 of 2THE PHOENIX MILLS LIMITED (CONSOLIDATED UNAUDITED FINANCIAL RESULTS FOR THE QUARTER/SIX MONTHS ENDED 30th September, 216 Rega, Ofice 462, enapati Bupat Marg, Lome Pare Mumbai - 400013 ‘Tel: (022 24964307/ 08/09. E-mail: nfo@thephoenixmillcom Website: wwwthephoenismillscom Gin No -Li7ioonst905P1.C000200 (hs. Io Lacs) Se] ‘PARTICULARS “Tince Monthe Ended on i Months Ended on HTD 7aOTG | — SOTO ann6 | SOTORT INS | TOOT | SOTO a LL 7 | tacome rom Operation [Net Sales / Income from operations 49,107.90 aagas.ao | 4zasat1] 93,351.39) 1,985.83 ‘Total Income fom Operations 49,107.90 44240349] 2253.1] 93,351.39 | 81,885.83, 2 | Expenditure 2) (increase}/ Decrease in Stock in Teade/ Work in Progress 29.28 75789] (467889) 42855] 99605) 0) Cost of Materials Consume/ Constucton rated costs 7968.30 a7oass} 11,0554] 167018] 20,709.40 6) Employee Benefits Expenses 320242 sai.77} 3.08.08] 650619] 5,700.16 ) Blectcty Expenses 415876 siso9s} sors6] 9.80069] 9,836.97 ©) Depreciation and Amortiation Expenses 4516785 soo198] 415644] 9.45083] a.308.49 {) Other Expenses 9639.16 smii4s] 99521] 1835061] 17,9269 ‘Total Expenditure 30,736.77 rsroris | 27,888.10] 59,457.95 | 53,545.16 Profit ftom operations before 18,351.13 sssazs| 1430497] 33,898.44] 28,358.67 3. JOuher Income, Finance Costs and Exceptional items 4 other tncome 829.48 rsazi] 98813] 15620] 1,597.39 5 | Prot trom ordinary activities before 19,180.61 16,275.52 | 15,383.10] 38,456.13 | 29,936.06 }Finance Costs and exceptional items 6 | inance Coste 105855, 1000.15} 086631] 2161468] 2,t11.77 ‘Profit fom ordinary activities before 8,126.08 smsa7] 4st.78| 13,8145] 8,804.29 7 Exceptional items | Exceptional item ‘ 9 | Profit fom ordinary activites before tax 8,126.08 57is.7] 4si678] 388.45] 9,824.29 10 [Tex Expense - Curent Tax 346077 2osaco] seis] 645639] S970 Minion Altenate'Tax Credit (461.39) 3214] 76786] eons} (1579.68) Deferred Tox 582.25, 413.09 saz] 0594] eas.7 ‘Tax Adjustments of ealcr years (055) cc) 11 [Net Profit for the period 453797 3045.20) 266092] 7583.17] 5,752.30 12, | Add /(Less: Share of Noa Contoling Interest in Loss/(Peoft) 395.63 124220] 100863] 2asrs2] 160879 13. | Add/(Less Share in Profits /(Loss) of Associates 60 1758 S429 1157 979 14. | NetProft / (Loss) after Tax after Non Controlling Interest 507.59 430507} 3922.83] 9773266] 7478.58 15. [Other Comprehensive lncome after taxes) (575.65) cao] aan] aorso) zai 16 [Total Comprehensive Income (after taxes) (14#15) 485194 4773.6] 380016] 9,625.0) 7,386.42 17. |Prid-up equity shace capital (Pace Value Rs.2/- per share) 3614 sess} 3059.78] poise} yps0-78 1g. | Besic EPS (aot annualised) (Re) 358 281 264 636 516 19. | Diluted EPS (aot annualised) (ts) 355 281 263 636 516Tic ive esa vw by Wr al Conc ave Be HES On Se ys Board of DUSCOS A Wer NET v6 TH NOSSO] This statement has been prepaced in accordance wth Companies (Indian Accouating Standard) Rules, 2015 (Ind AS) prescesed under section 133 ofthe Companies Act, 2013 and other recognised accounting practices and polices to the extent applicable. Beginning Tat Api, 2016, the Company has forthe fs Jimeadopted lad AS with a transition date of Ist Apri 2015, Fie results forthe Quarter/Six months ended 30th September, 2016 are in compliance with Indian Accounting Standards (Ind-AS) notified by the Minty Jot Corporate Affi. Accordingly, the figures for he quarter ended 30th June 2015 & Six months ended 30th September, 2015 have been made Ind-AS romplant and cestated ro make them compatable with those ofthe current peviod. ‘The statement does not nee Ind AS compliant results and Balance JBhect forthe previous year ended 31st Masch 2016 a the same are not mandatory a per SEAVs cicule dated Sth July 2016 he Ind AS compliant figures ofthe corresponding quarte/si months have not been subjected to amid review or an audit However, the Management has exercised the necessary due diigence to ensue that such finan results of previo yea prove a true and fi view. [Me tconciation of net profit reported in accosdance with Indian GAAP ta total comprehensive income in accordance wth Ind AS is given below = (Re in lacs) Forties] Foraix month months ended | ended s0joo/ans_ | _ 30/09/2018 Tot Yor the peviod afer Tax after Non Gontaling Inenn a pe] 245607 301898 previous Indian GAAP Less: Premivm on sedempion of Non-convetible debentures (NCD) non] 4446) ss7) [bie co Sutement of Profi and Loss ase: fect of Paie Valuation of Invexmens & Financial Lbities ax pect) (46.77) 9.1) Jasitos 8: tet of aie auton of Emploge Stock options as pe Ind AS 102 0439) 2353) ess: Bifect of derogation of Miveelnoves Expedite incised dang th 64.80) 985.69) period [adi tee of Deter Tax 13434 15495 rote fo the period ae per Ind AS 2,130.04 4250.69 Changes in amount alested 19 Non Contong Interstar per Ind AS 110] 1,692.80 3227.89 rofitfor the peiod as per Ind AS after Tax after Non Controlling Interest | 3,822.84 77858 Jorher Comprehensive Income (afte taxes) ss: Etec of Pac Valuatin of Investment 8p Ind AS 109 209) (12216) [Total Comprehensive Income (afer taxes) 3,800.16 7,386.42 The figures for the coresponding pesiod have been rexnted/ regrouped, wherever necessary, to make them comparable withthe current period | ie company has issued 10,585 Equity Shares undee the ESOP scheme at an exercise price of Re. 316.80 per equity share (including premium of Re 314.80 Jes equity share), during the quarter ended 30th September 2016 [Segment Results: Jon consolidated basis, the Group has two reportable segements via. Property & Related services and Hospitality service x per Ind AS 108 segment Revenue, results and othe information incude the expective amounts identifiable to each ofthe seyment as alo amount allocated on a ccasonable bss. The items/information which rete to the Company asa whole and cannot be dicetlyidentitied with any particle business segment have locenshowa separately. The Segment information i as per Annexure A Place: Mumbai ‘Prados Kanodia | Dated: 14th November, 2016 Director FinanceAnnexure "A" [Referred to Note no. 8 (i)] (Rs in Lacs) ~ aaiaue “hice Months Ended On Six Months Ended on SNe} Particula 307ap72016 [ 30/06/2016 | 30/09/2015 {30/09/2016 _|_ 30/09/2075 ‘A. |Scement Revenue Property & Related Services 42st036| 380163] 3800843] sosa7.17] 73,505.17 Hospitality Services s79756] 622666] 4,244.68 | 13,024.22 837866 frorar. 4910790] 4424349] 42,253.11] 93,351.39] 81,883.83 B_ |Scgment Result 1 Profit Before Tax & Interest Property & Related Services 178207] 1624079] 1548118] 3502286] _29.92039 Hospitality Services qsosq) osc} 0862] azn] 581.79) Profit from operations before JOther Income, Finance Costs and Exceptional 2 fitems 1353] 155231] 140497] 33,908.44) 28,338.67 3. Jotrer income eoas| rosa] 988.13 156269 159739 Profi from ordinary activites before Finance 4 [Costs and exceptional items spies] 1627582] 1538311] 35,4563 | 29,936.06, 5 [Interest Expenses 1195453] 1050015] 106631} anise} 2101.77 6 Profit Before Tax & Exceptional Items si2608] 5,75.37| 4516.79] t3.94n4s} 8,604.29 7 |Ada/(Less: Exceptional Items 3 - - . 8 [Profit Before Tax suas} —5,78.37| 4,516.79] 3.94145] 8,824.29 © [segment Assets Property & Related Services 52400557] 5272008 sa1ais06} 52400557] 541,118.06 Hospitality Services 135,754.16] 13952485] 117,054.79] 135,754.16] 117,054.79 Unallocated 9.14946] 7402593] a0sa14] —so,udoas] 63,050.14 [Total Segment Assets 748,909.19 | 741,070.86] 721,231.99] 748,909.19] 721,281.99 D_|segment Liabilities Property & Related Services 4o1,c287e | 412,58339| 380,945.45] —aor,c2878 | s8os3.45 Hospitality Services #836372] 9963884 7932722] 9830372] 78,327.22 Unallocated az2730| 354090] 2,769.06, sy7a730] 2,769.06 Total Segment Liabiti 493,719.80 | 505,763.13 | 468,039.73 | _4s.7i9.20 |__ 468,039.73‘THE PHOENIX MILLS LIMITED STATEMENT OF CONSOLIDATED ASSETS AND LIABILITIES ‘Cin No - LI7IOOMHI905PL.0000200 Dated eth Novernber, 2016 Re. in Lacs | pasion a SeNo. Particulars [assars 1 }Non-CurrentAssers Popes, Pan and Figpment 429,403.95 capital work-in-progress 1650665, [Gcrodui on account of Consolation 20,138.63 loser nsnyble Avett 33079 intangible asses underdevelopment 463.90 Financial asers “Tevestments 1297456 Loans 5808.89 Others 9,601.85 Defer Tax Anse 13,937.28 her Non-Cureent Asset 33.9468 “ 34,197.75 2 |Corcent Assets sventonies 133,885.40 [Financial Asseis Investments 522606 “Trade and thee eeceivables 19,646.37 * Gash and cash equivalence 9,108.53 Loans 449345 Others 608805 Icucent Tax As 6266.1, JOcher Cucene Assets 2401.17 ® Dorr. ts TOTAL (A+) THES, [EQUITY AND LIABILITIES 3 FBquity zaity Share capital 306134 lorher equity 207.1904 [Non Contoing Insert 4493756, “ 255,189.39, liabiticios 4 |Non-Curtent Liabilities |nance Lisbiiee Borrowings 342,836.92 “Trade Payables 53682 = Other nancial Lables ae Provisions 3.68982 JDetersed Tax Libis 3927.32 |Cuher Non-CortentLiabiltes 3792240 ® 389,034.70 5 fourrent Liabilities nancial Lisbises = Bocsowings 7778.64 Trade Payables 82.96 Othe Financial Labi 38,700.92 fother Curent Libis 52350.11 [Provisions 5,166.47 © 704,585.10, TOTAL (A+B+@) TE DOTT Place: Mumbai Director Finance