Phoenix Mills has reported consumption of approximately ₹4,787 crores for the third quarter of fiscal year 2026, demonstrating robust operational performance during the period.

Quarterly Performance Overview

The company's consumption figures for Q3 FY26 show a significant year-on-year improvement, with the ₹4,787 crores representing a 20% increase compared to the corresponding quarter of the previous fiscal year.

Growth Trajectory

The 20% year-on-year growth in consumption reflects the company's strengthening operational metrics. This double-digit growth rate indicates positive momentum in the company's business operations during the third quarter of the current fiscal year.

The consumption figure of ₹4,787 crores positions Phoenix Mills favorably in terms of operational scale and market presence. The consistent growth pattern suggests effective business execution and market positioning strategies.

Business Performance Analysis

The reported consumption growth of 20% demonstrates the company's ability to expand its operational footprint and enhance business performance. This growth rate indicates strong underlying business fundamentals and effective operational management during Q3 FY26.

The substantial consumption figure reflects the scale of Phoenix Mills' operations and its significant presence in the retail and commercial real estate sector. The year-on-year improvement showcases the company's capacity to drive business growth and operational efficiency.

Phoenix Mills delivered strong operational performance across its diversified portfolio in Q3 FY26, with retail consumption growth of 20% year-on-year and significant improvements in office occupancy rates. The company's business update for the quarter and nine months ended December 31, 2025, reflects robust demand across retail, commercial offices, hospitality, and residential segments.

Retail Segment Drives Portfolio Growth

The retail portfolio demonstrated exceptional performance during the festive quarter, with consumption figures highlighting broad-based demand across the company's mall network.

The consumption growth remained resilient despite ongoing planned revamp and premiumisation initiatives at select assets. Newer additions to the portfolio, including Phoenix Mall of Asia in Bengaluru and Phoenix Mall of the Millennium in Pune, continued their scaling trajectory and contributed meaningfully to overall portfolio momentum.

Commercial Office Occupancy Shows Marked Improvement

The commercial office segment exhibited strong leasing momentum throughout the nine-month period, with gross leasing activity reaching approximately 1.20 million square feet. This sustained tenant demand translated into visible occupancy improvements across the operational portfolio.

Significant operational milestones were achieved during Q3 FY26, with Millennium Towers 1 and 2 in Pune receiving Occupation Certificates. The Millennium Towers also secured USGBC LEED Platinum™ Certification in November 2025, reinforcing the company's commitment to sustainable development practices.

Hospitality Segment Maintains Steady Performance

The hotel portfolio delivered consistent performance supported by strong occupancy rates and average room rate (ARR) driven growth. The St. Regis Mumbai led the hospitality segment's performance with notable metrics.

The performance was underpinned by sustained high occupancy levels and strategic ARR management, demonstrating the premium positioning of the hospitality assets.

Residential Sales Show Significant Momentum

The residential segment exhibited robust sales performance, reflecting steady execution and successful monetisation of premium residential inventory across the portfolio.

The substantial growth in residential sales demonstrates strong market demand for the company's premium residential offerings and effective sales execution strategies.

Outlook and Strategic Positioning

The operational business update reflects Phoenix Mills' diversified portfolio strength and execution capabilities across multiple real estate segments. The company's newer mall assets continue to scale effectively while established properties maintain growth momentum despite ongoing enhancement initiatives. Advanced-stage leasing discussions in the commercial office segment provide strong visibility for further occupancy improvements, particularly in the new developments across Pune, Bengaluru, and Chennai.

All figures presented are provisional and unaudited, subject to finalisation and audit adjustments as per standard reporting practices.