Tuesday, March 19, 2024
News

Mall revenue recovery to be restricted to 80-85% of pre-pandemic levels this fiscal: Crisil

   SocialTwist Tell-a-Friend    Print this Page   COMMENT

New Delhi | Thursday, 2021 3:15:05 AM IST
The revenue of shopping malls is foreseen growing by 45-55 per cent this fiscal after an expected 45 per cent decline in fiscal 2021, Crisil Ratings said.

Accordingly, the expected growth will still be 15-20 per cent below the pre-pandemic levels because of continuing waivers for some under-performing retail segments and the possibility of fresh waivers across segments due to mobility curbs following the second wave of the Covid-19 pandemic.

"While fresh restrictions to curb the second wave of Covid-19 will affect retail sales, CRISIL Ratings expects the debt servicing ability of the malls it rates to be largely intact in the near term because of strong sponsors and healthy liquidity."

Notably, the rated malls average debt service coverage ratio is expected to decline by 10-15 per cent but remain healthy.

According to Anuj Sethi, Senior Director, Crisil Ratings: "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. Retail sales are expected to be 90 per cent of pre-pandemic levels for the second half of this fiscal, which may not warrant rental waivers."

"That would minimise the impact on rental income of mall owners. Accelerated vaccinations are crucial to retail sales revival, especially for non-essentials."

--IANS rv/sn/ash

( 238 Words)

2021-04-14-21:04:04 (IANS)

 
  LATEST COMMENTS ()
POST YOUR COMMENT
Comments Not Available
 
POST YOUR COMMENT
 
 
TRENDING TOPICS
 
 
CITY NEWS
MORE CITIES
 
 
 
MORE BUSINESS NEWS
India allows urea import by state-owned ...
SAMCO Securities and The Womb Collaborat...
ADB approves USD 100 mln loan to support...
Indian stock indices in red Tuesday on p...
Supermicro Grows AI Optimized Product Po...
Abhay Bhutada Has Been Elevated to Group...
More...
 
INDIA WORLD ASIA
Karnataka: Cash worth over Rs 3 lakh sei...
UP electoral officer Navdeep Rinwa issue...
Congress Working Committee to meet today...
BJP MLAs submit reply on breach of privi...
Cyber crime victims should dial helpline...
Popular Bollywood actors meet Uttarakhan...
More...    
 
 Top Stories
"Performing my own stunts was daunt... 
SAMCO Securities and The Womb Colla... 
Jeddah historic district launches f... 
TMC's Derek O'Brien calls for 'Supr... 
"This election will make history fo... 
Day 1 of Startup Mahakumbh saw insi... 
Alma launches a special edition of ... 
Delhi excise policy case: BRS' K Ka...