Whalesbook
Indian mall operators are defying e-commerce pressure, with revenues set to climb 12-14% this fiscal, matching last year's pace. This growth is fueled by new properties, steady rental escalations, and a strong rebound in household consumption driven by lower taxes, a healthier economy, and easing inflation. Occupancy remains high at 94-95%, and developers are expanding by adding millions of square feet of retail space, boosting annual revenue growth significantly. While debt is rising for expansion, leverage is currently contained, keeping credit profiles solid.