Phoenix Mills Ltd is engaged in the operation & management of malls, construction of commercial & residential property and hotel business in India. Its core businesses include Retail, Office, Hotel and Asset Management.
Q3 FY26 Earnings Results
- Revenue from Operations: Consolidated ₹1,168 cr, +16% YoY vs ₹1,006 cr, record quarterly net sales ₹1,121 cr (+15% YoY); standalone net sales ₹146 cr (+14% YoY), driven by robust retail leasing and occupancy, healthy footfalls, and strong tenant performance amid festive demand.
- EBITDA: Operating EBITDA ₹704 cr (+21% YoY implied from prior trends), but interest costs ₹102 cr (+11% QoQ) and depreciation ₹86 cr pressured profitability; margins contracted 149 bps QoQ to 32.8% on higher finance/depreciation.
- PAT: Consolidated ₹276 cr (+4% YoY vs ₹265 cr, −9% QoQ), PAT margin 32.8% (−149 bps QoQ); standalone PAT ₹46 cr (18% YoY); 9M PAT ₹820 cr (+15% YoY vs ₹715 cr).
- Other key metrics: 9M revenue ₹3,299 cr (+14% YoY), total income ₹3,190 cr (+14% YoY); retail consumption strong, gross leasing 1.2 msf in Q3, occupancy improvements in offices; net debt stable.
Management Commentary & Strategic Decisions
- Highest-ever quarterly sales reflect asset portfolio strength and resilient demand for premium retail/commercial space, though sequential profit dip from rising interest/depreciation; sustained momentum in 9M performance.
- Strategic moves: Continued expansion with new malls in Kolkata/Surat, office in Bengaluru; focus on repositioning MarketCity malls for higher trading densities; earnings call concluded on results, confident in growth trajectory.
Q2 FY26 Earnings Results
- Revenue from Operations: Consolidated ₹1,115 cr (+22% YoY vs ₹918 cr), H1 ₹2,068 cr (+14% YoY); retail sales ₹3,750 cr H1 (+14% YoY), leasing 1 msf+ offices.
- EBITDA: ₹667 cr (+29% YoY), H1 ₹1,231 cr (+17% YoY), margins expanded on occupancy/rental hikes.
- PAT: ₹304 cr (+39% YoY), H1 strong growth; operating cash flow H1 ₹981 cr (+21% YoY).
- Other key metrics: Retail rental +10% YoY Q2; office occupancy 67–77%; residential sales ₹287 cr H1.
Management Commentary Q2
- Strategic repositioning yielding results with improved densities/consumption; consumer confidence boosting performance.
- Strategic moves: Debt reduction ₹500 cr to ₹2,200 cr; pipeline execution for sustainable growth.
To view the company’s previous earnings and latest concall transcripts, click here to visit the Alphastreet India news channel.