Earnings of mall operators to grow by 7-9% this year: Crisil

New Delhi | The revenue of shopping mall operators is expected to grow by 7-9% in this financial year 2023-24 due to increase in consumption of retail products and items and increase in property rentals. This would be around 125% of the pre-Covid or FY 2019-20 revenue. Rating agency Crisil has expressed this estimate in one of its reports. According to this, there has been a significant increase in the number of people visiting the mall since the restrictions related to Covid were lifted in the last financial year. Revenue grew by 60% to reach 116% of pre-Covid levels. The agency has said that mall operators will remain at low risk in the current financial year due to increased demand for space in malls, cost-cutting measures and strong balance sheets.

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