Phoenix Mills jumps after retail consumption rises 32% YoY in Q1 FY27

The Phoenix Mills added 2.16% to Rs 2065.80 after the company reported a strong operational performance across its retail, commercial office, hospitality and residential businesses for the quarter ended June 2026 (Q1 FY27).

The company's retail portfolio continued to deliver robust growth, with consumption rising 32% year-on-year (YoY) to Rs 4,727 crore during the quarter across its existing operational assets. The performance was driven by healthy consumer demand across most malls, while select assets benefited from ongoing repositioning and premiumisation initiatives aimed at enhancing tenant mix and customer experience.

During the quarter, Phoenix MarketCity Pune was relaunched as Phoenix Avenue of Stars, reflecting the next phase of the asset's evolution with a refreshed premium brand mix tailored to Pune's experience-led consumption landscape.

The hospitality business maintained its growth momentum, with The St. Regis Mumbai and Courtyard by Marriott Agra reporting revenue per available room (RevPAR) growth of 15% YoY and 23% YoY, respectively, supported by healthy occupancy levels and double-digit growth in average room rates.

In the residential segment, Phoenix Mills reported sales of Rs 64 crore during the quarter as it continued to monetise its premium ready inventory.

The Phoenix Mills is India's largest retail-led mixed-use developer. Its operations span across most aspects of real estate development: planning, execution, marketing, management, maintenance & sales. The group has real estate assets in Mumbai, Bengaluru, Chennai, Pune, Raipur, Agra, Indore, Lucknow, Bareilly & Ahmedabad.

The company reported a 50% rise in consolidated net profit to Rs 403.35 crore in Q4 FY26, compared with Rs 268.82 crore in Q4 FY25. Net sales stood at Rs 1,233.20 crore, registering a year-on-year (YoY) growth of 21.3%.

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