23 May 2011

Pantaloon Retail-PRIL trading well below its 5yr mean PE::CLSA

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Pantaloon Retail- PF IN (U-PF)
Business description:
Pantaloon is India’s largest retailer and a part of Future group.
Its retail business can be grouped into 3 categories:
Lifestyle retailing: Pantaloon and Central
Value retail: Big Bazaar, Food Bazaar and KB’s fair price
Home retail: Home Town and E-Zone
Non retail businesses of Future group
Post-restructuring, PRIL will be a pure play retail company
Asset management: Real estate and private equity funds
Consumer finance, hotels and logistics
General and life insurance
The restructuring of the financial holdings has run into
regulatory hurdles
PRIL has crossed 14m sf in retail space
PRIL trading well below its 5yr mean PE
News and updates
The company plans to add 0.7m sq ft in 4QFY11
Future Group ran the third edition of ‘The Great Indian Shopping
Festival’ from April 16 to 15 May
Future Ventures, a Future Group company, raised Rs7.5bn in its
IPO. Pantaloon has subsequently bought additional shares in the
company through open market purchases
Future Group has realigned its top management team in retail
following the demise of Mr. Raghu Pillai
Future Group is reportedly working on a new mall development
model in partnership with some real estate developers

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