Company have mall value of Around 1000 crore+ against it's debt of around Rs. 500 Crore
Incorporated in 2008, Future Market
Networks Limited (FMNL) is a part of the Future Group promoted by the Biyani
family. FMNL is a public limited company, engaged in the mall leasing and
sub-leasing business enabling the infrastructure for future market, currently
managing approximately 1.40 million sq. ft. of retail space and owns various
real estate properties across India. The company also provides services such as
housekeeping, mall promotions, security and parking services.
Turned to profitability in the last two quarters
Future Market Networks Limited (FMNL)
is engaged into the leasing and sub-leasing of retail spaces, OOH Media business
and infrastructure project management consultancy. FMNL shares the group name
and is majorly owned by promoter group companies. The company shall receive
considerable backing, given Future Group’s strategic importance for retail
spaces. Future Group being a dominant player in the retail space, they can be
able to control the entire activity cycle – concept design, tenant-mix,
branding, leasing, etc. The company currently manages approximately 1.32m
square feet of retail space and owns various real estate properties across
India.
Part of Future Group
The company is a part of the Future Group which is
controlled by Kishore Biyani. It manages the retail real estate portfolio of
the group and leases out its space to the future group of companies and others.
The
whole Future group of companies are in crisis due to high debt and are unable
to repay loans. They are also stuck in a corporate battle between Amazon and
Reliance since Reliance announced
Sub-Leasing Model
The company's majority of business is based on the
sub-leasing model. It generates ~15% of total revenues from own properties only
& the rest 85% is generated by a way of sub-leasing properties
The company owns 3 mall spaces with total
area of ~5.6 lakh sq. ft. in Mumbai, Kolkata and Siliguri. These mall spaces
are taken on leases and are sub-leased.
Majority of revenues from this segment are from
tenants outside of the future group
Details of Owning profitable Malls
