Phoenix Mills, engaged in the business of developing real estate has announced that MPC Synergy, a German based company will be investing around EUR 200 million at the SPV level of the Phoenix Mills Group as well as the EWDPL Group.

Phoenix Mills holds around 42 percent equity stake in Entertainment World Developers, India, which is involved in the building as well as operation of mixed-use retail centers and townships.

For the three months period ended June 2008, Phoenix Mills posted a considerable increase of 51.12% in its standalone net profit, which stood at Rs 110.32 million, as against Rs 73 million during the same period of the last year.

During the quarter, the company’s net sales surged 58.22% to Rs 207.08 million, as against Rs 130.88 million for the same period, last year.

The company has posted an increase of 60.60% in its total income, which stood at Rs 222.95 million for the latest quarter, from Rs 138.82 million in the same period, last year.

The company’s board, at its meeting held on July 28, 2008, declared Final Dividend at the rate of 50% for the financial year 2007-2008, subject to the approval of the shareholders at the ensuing annual general meeting.

Shares of the company, on Friday (Aug 22) closed the week at Rs 184.80, up 10 percent, on the Bombay Stock Exchange (BSE). The total volume of shares traded was 202,648 at the BSE.