Phoenix Mills Q1 FY26 Earnings Results

Phoenix Mills Ltd is engaged in the operation & management of malls, construction of commercial & residential property and hotel business in India. India’s leading retail mall developer and operator with approximately 0.64 million square meters of retail space spread across 9 malls in 6 gateway cities of India. It has developed over 2.11 million square meters. Presenting below are its Q1 FY26 earnings results.

 

Q1 FY26 Earnings Results

• Total Income: ₹984.50 crores, up 4.5% YoY from ₹942.40 crores, but down 26.7% QoQ from ₹1,343.14 crores in Q4 FY25.

• Revenue from Operations: ₹953.00 crores, a 5% YoY increase.

• Profit Before Tax (PBT): ₹407.21 crores, up 4.9% YoY from ₹388.18 crores, down 16.7% QoQ from ₹488.64 crores.

• Profit After Tax (PAT): ₹320.86 crores, up 2% YoY from ₹314.71 crores, down 18.1% QoQ from ₹391.58 crores.

• EPS: ₹6.73, up 3.54% YoY and 63% QoQ due to profit normalization.

• EBITDA: ₹564 crores, up 6.3% YoY (Q1 FY25: ₹531 crores).

• EBITDA Margin: About 59.2% (Q1 FY25: 58.7%).

• Retail Segment: Consumption up 12% YoY to ₹3,588 crores; retail rental income up 4% to ₹506 crores; retail EBITDA up 4% to ₹535 crores. Leased occupancy above 95%, trading occupancy at 89% (expected to rebound).

 

Management Commentary & Strategic Decisions

• Management highlighted resilient growth with robust retail segment performance and sustained margin expansion.

• Completion of a major strategic acquisition: Phoenix Mills will acquire the remaining 49% stake in Island Star Mall Developers Pvt Ltd (ISMDPL) from CPP Investments for approx. ₹5,449 crores over 36 months, taking its ownership to 100%; this expands their retail GLA footprint to 4.4 million sq. ft.

• Focus continues on expanding mixed-use development portfolio across office, retail, and hospitality, aiming for sector leadership.

• Operational priorities are driving higher consumer engagement, optimizing tenant mix, brand repositioning, and maintaining high occupancy rates, including bridging the temporary gap between leased and trading occupancy.

• Management expects growth from recent luxury and retail brand churn, new launches, and further development activity.

 

 

Q4 FY25 Earnings Results

• Total Income: ₹1,343.14 crores, up 78% YoY from ₹754.73 crores (Q4 FY24).

• Revenue from Operations: ₹1,016.3 crores, down 22% YoY from ₹1,305.9 crores.

• Profit Before Tax (PBT): ₹488.64 crores.

• Profit After Tax (PAT): ₹348 crores, down 11% YoY from ₹392.26 crores.

• EPS: ₹7.52 (Q4FY25), 17.7% down from prior quarter.

• EBITDA: ₹559.7 crores (margin 55.06%, up from 47.98%).

• Retail Segment: Quarterly retail consumption at ₹3,248 crores, up 15% YoY. Retail rental income up 8% to ₹482 crores; retail EBITDA up 4% to ₹535 crores.

 

To view the company’s previous earnings and latest concall transcripts, click here  to visit the Alphastreet India news channel.