Mall operators to see 7-9% growth in their revenue in FY24

Chennai, April 24 The mall operators are expected to see their revenue go up by 7-9 per cent this fiscal owing to buoyant retail sales and higher rental yields, said a CRISIL Ratings report.

Notably, this will be on a high base of fiscal 2023, when a return to social normalcy after mobility curbs were lifted led to substantial growth in footfalls and a robust 60 per cent rise in revenue to about 116 per cent of the pre-pandemic level, the report said.

Additionally, high occupancy levels, solid profitability backed by cost-optimisation measures and strong balance sheets will keep the credit risk profiles of mall operators healthy this fiscal, CRISIL Ratings said after analysing 28 malls.