Phoenix Mills records 20% YoY growth in retail consumption in Q3
The company further said that during the period under review, office leasing momentum translated into visible occupancy improvement, hospitality performance was supported by high occupancies and ARR-driven growth, and residential sales maintaed steady momentum year-to-date.
In the Retail business, portfolio consumption stood at Rs 4,787 crore in Q3 FY26 (up 20% YoY) and Rs. 12,122 crore in 9M FY26 (up 15% YoY), reflecting broad-based demand across the portfolio during the festive quarter and year-to-date.
Consumption growth in Q3 FY26 remained strong, reflecting demand resilience, even as select assets continue to undergo planned revamp and premiumisation initiatives to strengthen portfolio performance over the medium term.
In the Commercial Offices segment, leasing activity remained strong through 9M FY26, with gross leasing of 1.20 million square feet, reflecting sustained tenant demand across the portfolio.
The leased occupancy in the operational assets at Mumbai and Vimannagar in Pune improved to 77% as at December 2025, from 67% as at March 2025. The leased occupancy across new developments in Pune, Bengaluru and Chennai is at 41%, with advanced-stage leasing discussions providing strong visibility on further ramp-up.
PML?s hotel portfolio delivered steady performance in Q3 and 9M FY26, supported by strong occupancies and average room rate (ARR)-driven revenue per available room (RevPAR) growth, led by The St. Regis, Mumbai.
The company further said that residential sales and collections remained robust, supported by steady execution and monetisation of premium residential inventory.
Gross residential sales of Rs. 140 crore in Q3 FY26 (up 141.4% YoY) and Rs. 412 crore during 9M FY26 (up 205.2% YoY).
The Phoenix Mills is India?s leading owner, operator and developer of retail-led mixed-use destinations. The group?s developments are spread across retail, hospitality, commercial offices, and residential asset classes.
The company's consolidated net profit increased by 39.38% to Rs 303.99 crore on a 21.51% rise in revenue to Rs 1,115.43 crore in Q2 FY26 as compared to Q2 FY25.
The scrip fell 1.13% to currently trade at Rs 1885.15 on the BSE.
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