The Phoenix Mills Limited has announced robust financial results for the quarter and financial year ended March 31, 2026. The company achieved a consolidated revenue of ₹4,423 crore, marking a 16% year-on-year growth. Consolidated EBITDA rose by 22% to ₹2,637 crore, while consolidated net profit grew by 24% to ₹1,224 crore, driven by strong operational performance across its retail, office, and hospitality segments.
Financial Performance Highlights
For the fiscal year ending March 31, 2026, The Phoenix Mills Limited demonstrated consistent compounding growth. The company reported a consolidated revenue of ₹4,423 crore, reflecting a 16% increase compared to the previous year. Operating efficiency was a key driver, with consolidated EBITDA reaching ₹2,637 crore, a 22% rise year-on-year. Furthermore, net profit after tax and minority interest climbed 24% to ₹1,224 crore, showcasing the firm’s focus on cost optimization and operational discipline.
Retail Segment Dominance
Retail continues to be the backbone of the portfolio, with total retail consumption in FY26 reaching approximately ₹16,587 crore, a 21% growth over the previous year. Retail rental income for the year stood at ₹2,157 crore, growing 10%, while the retail EBITDA reached ₹2,246 crore, a 12% increase. The company attributes this to high occupancy rates, strategic brand additions like Uniqlo and Bershka, and a focus on premium and luxury segments.
Commercial Office and Hospitality Scaling
The office portfolio has seen significant expansion, doubling its leasable area to ~5 million sq. ft. over the last two years. Major completions including Millennium Towers in Pune and Phoenix Asia Towers in Bengaluru have contributed to this growth, with the overall portfolio occupancy reaching 70%. Simultaneously, the hospitality segment reported strong performance, with The St. Regis, Mumbai achieving an occupancy of 86% and an EBITDA of ₹262 crore for the year.
Future Growth Strategy
The company is well-positioned for its next phase of growth through its retail-led mixed-use model. Key upcoming developments in Thane, Coimbatore, and Chandigarh are progressing, with environment clearances already secured. Additionally, the full consolidation of the ISMDPL platform (Island Star Mall Developers) is on track, enhancing control over 4.4 million sq. ft. of retail and 2.2 million sq. ft. of office space. These initiatives, combined with strong cash flows from its residential business, provide clear visibility for expansion toward 2030.
Source: BSE
