The Phoenix Mills Ltd Reports Strong Operational Performance for FY26 Across Retail, Office, and Residential Verticals

The Phoenix Mills Ltd Reports Strong Operational Performance for FY26 Across Retail, Office, and Residential Verticals​

The Phoenix Mills Limited (PML) reported a strong operational performance for the fiscal year 2026 (FY26), highlighting growth across its retail, office, hospitality, and residential segments. The company noted that FY26 marked a defining year with clear progress on strategic priorities across all businesses.

Retail Segment Performance​

The retail sector achieved an all-time high in consumption for FY26, reaching approximately Rs. 16,578 crore. This significant turnover was generated entirely from the existing portfolio, with no new mall additions during the year.

In the fourth quarter (Q4) of FY26, retail consumption was approximately Rs. 4,251 crore, reflecting a 31% year-over-year (YoY) growth, making it the strongest quarter in terms of YoY growth for the fiscal year. The overall portfolio consumption for FY26 showed a 21% YoY increase, amounting to Rs. 16,578 crore. The performance was broad-based, maintaining double-digit consumption growth across the rest of the portfolio despite select assets undergoing planned repositioning and premiumisation.

Commercial Office Update​

PML's office portfolio expanded substantially during 2025. The company added approximately 2.8 msft of Grade A offices across Bengaluru, Chennai, and Pune, which increased the portfolio's Gross Leasable Area (GLA) to approximately 4.8 msft from 2 msft previously.

The offices showed robust occupier interest, recording gross leasing of over 2.2 msft during FY26. As of March 2026, the portfolio leased occupancy stood at approximately 70%.

Hospitality Resilience​

The hotel portfolio demonstrated resilient performance throughout FY26, even when facing a tougher operating environment and a high prior-year base. At The St. Regis, Mumbai, the hotel recorded a RevPAR growth of 6% YoY in Q4 FY26 and 7% YoY for the full FY26. This growth was driven by Average Room Rate (ARR) growth, underscoring the premium nature of its operating model. Occupancy at the hotel remained stable at a healthy 86% throughout FY26.

Residential Sales Growth​

Residential sales saw a substantial increase year-on-year. Gross sales for FY26 reached approximately Rs. 471 crore, a significant rise compared to Rs. 212 crore reported in FY25. This growth was attributed to steady execution and the continued monetization of ready, premium inventory.

Overall, PML reported meaningful progress in every business vertical during FY26, positioning the company to continue delivering consistent growth with operating momentum intact.

PHOENIXLTD Stock Price Movement​

Today, The Phoenix Mills Limited shares edged higher, closing at ₹1597, which represented a solid 2.91% gain for the day. The stock saw substantial investor interest, trading on a volume of 675,596 shares during the session.

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