The Phoenix Mills Limited announced its unaudited standalone and consolidated financial results for the quarter and half-year ended September 30, 2026. The company reported a 16% increase in consolidated revenue from annuity businesses and 8% growth in consolidated group revenue for H1 FY27 compared to H1 FY26. EBITDA also saw significant growth, with annuity businesses up 20% and consolidated group EBITDA up 10%.
The Phoenix Mills Limited: Q2 & H1 FY27 Financial Highlights
The Phoenix Mills Limited has released its financial results for the second quarter (Q2) and the first half (H1) of the financial year 2027 (FY27), ending on September 30, 2026. The company has demonstrated robust performance across its business segments, driven by strong growth in its annuity businesses.
Consolidated Performance Overview
For Q2 FY27, the company reported consolidated revenue of Rs. 1,153 crore, marking a 3% increase compared to Q2 FY26. The consolidated EBITDA stood at Rs. 710 crore, a 7% rise year-on-year, with a consolidated EBITDA margin of 61%. Net profit after tax for the period was Rs. 424 crore, an 11% increase from the previous year.
The performance for H1 FY27 showed even stronger growth. Consolidated revenue reached Rs. 2,228 crore, up 8% compared to H1 FY26. Consolidated EBITDA grew by 10% to Rs. 1,352 crore, maintaining a margin of 61%. Net profit after tax surged by 16% to Rs. 818 crore.
Annuity Businesses Performance
The annuity businesses, which include Retail, Offices, Hotel, and Asset Management, also showcased significant year-on-year growth:
- In Q2 FY27, revenue from annuity businesses was Rs. 1,055 crore, a 16% increase over Q2 FY26. EBITDA grew by 21% to Rs. 669 crore, and PAT increased by 31% to Rs. 391 crore.
- For H1 FY27, annuity business revenue was Rs. 2,089 crore, up 16% from H1 FY26. EBITDA saw a 20% rise to Rs. 1,318 crore, and PAT escalated by 31% to Rs. 793 crore.
Retail Segment Strength
The retail segment reported strong performance in Q2 FY27 with consumption at Rs. 4,685 crore, a 25% growth over Q2 FY26. Retail rental income increased by 15% to Rs. 605 crore, and retail asset EBITDA grew by 18% to Rs. 639 crore.
In H1 FY27, retail consumption stood at Rs. 9,415 crore, a 28% increase over H1 FY26. Retail rental income rose by 16% to Rs. 1,200 crore, and retail asset EBITDA grew by 17% to Rs. 1,264 crore.
Balance Sheet and Cash Flow
The company highlighted strong cash flows and a healthy balance sheet. Operating Free Cash Flow for H1 FY27 was Rs. 1,215 crore, a 22% YoY increase. Liquidity as of September 30, 2026, stood at Rs. 2,638 crore, with Gross Debt at Rs. 6,117 crore and Net Debt at Rs. 3,479 crore.
The Net Debt to EBITDA ratio remained stable at 1.2x as of September 26, compared to 1.2x as of March 26. The average cost of debt in September 2026 was 7.66%.
Source: BSE
