The Phoenix Mills Limited reported a robust start to fiscal year 2027 with consolidated revenue growing 13% to ₹1,075 crore and operating EBITDA increasing by 14% to ₹642 crore. The company’s retail segment, driven by strong consumption and rental income growth, was a key contributor, alongside positive performance in its office and hospitality businesses. Several new developments are progressing, indicating a strong pipeline for future growth.
The Phoenix Mills Reports Strong Q1 FY27 Performance
The Phoenix Mills Limited has announced its financial results for the first quarter of Fiscal Year 2027 (Q1 FY27), showcasing a significant year-on-year growth across its core businesses. The company recorded a consolidated revenue of ₹1,075 crore, marking a 13% increase. Operating EBITDA also saw a healthy rise of 14%, reaching ₹642 crore.
Key Business Segment Highlights
Retail Segment Momentum
The retail portfolio delivered an outstanding performance, with rental income growing by 17% year-on-year to ₹594 crore, and EBITDA increasing by 17% to ₹625 crore. Consumption across malls surged by a notable 32% year-on-year to ₹4,730 crore. Apparel and accessories, which constitute 60% of the trading area, grew by 24%, while jewelry and electronics saw increases of 55% and 61%, respectively. The company highlighted sustained consumer engagement in F&B and experience-led categories, with growth exceeding 20%.
Office Business Expansion
The office business demonstrated strong growth, with income rising by 44% year-on-year to ₹75 crore and EBITDA up by 31% to ₹42 crore. Leased occupancy for offices improved to 72% as of June 2026. The company expects continued growth in income and EBITDA from this segment over the coming quarters.
Hospitality Sector Resilience
The hospitality business also performed well, with income increasing by 18% year-on-year to ₹145 crore and EBITDA growing by 19% to ₹62 crore. The St. Regis Mumbai led this performance, with income and EBITDA growing by 19% and 20%, respectively.
Development Pipeline and Future Outlook
The Phoenix Mills is strategically progressing with its development pipeline. Several new retail assets are expected to become operational through 2027 and mid-2028, including significant expansions in Kolkata and Surat. The company is also advancing its mixed-use developments, integrating retail, office, and hospitality components. The firm maintains a disciplined approach to cost management and capital allocation, positioning itself for sustainable growth and shareholder value creation.
Source: BSE
