Phoenix Mills , a leading retail-led mixed-use developer, has reported a strong financial performance for the second quarter of fiscal year 2026 (Q2 FY26), demonstrating resilience and growth across its business segments.

Financial Highlights

• Consolidated revenue from operations increased by 22% year-over-year to ₹1,115.00 crore in Q2 FY26, up from ₹918.00 crore in Q2 FY25.
• Consolidated EBITDA saw a significant jump of 29%, reaching ₹667.00 crore compared to ₹518.00 crore in the same quarter last year.
• Net profit after tax and share in profits of associates rose by 31% to ₹384.00 crore, up from ₹292.00 crore in Q2 FY25.

Segment Performance

Retail Segment

The retail segment continued to be a strong performer for Phoenix Mills:

• Consumption across malls grew by 14% year-over-year to ₹3,750.00 crore in Q2 FY26.
• Retail rental income increased by 10% to ₹527.00 crore.
• Retail EBITDA also saw a 10% growth, reaching ₹551.00 crore.

Hospitality Segment

The hospitality business showed steady performance:

• Revenue from The St. Regis, Mumbai remained stable at ₹113.00 crore.
• EBITDA for The St. Regis, Mumbai increased by 13% to ₹53.00 crore, with the EBITDA margin expanding to 47% from 42% in Q2 FY25.

Commercial Office Segment

The commercial office portfolio demonstrated resilience:

• Income from commercial offices in Q2 FY26 stood at ₹54.00 crore, remaining flat compared to Q2 FY25.
• Occupancy in operational offices at Mumbai and Vimmanagar in Pune improved to 77% in September 2025, up from 67% in March 2025.

Residential Segment

The residential business showed significant growth:

• Gross residential sales surged to ₹139.00 crore in Q2 FY26, compared to ₹27.00 crore in Q2 FY25.
• Collections improved to ₹116.00 crore, up from ₹60.00 crore in the same quarter last year.

Strategic Developments

Phoenix Mills continued to focus on strategic repositioning and expansion:

• The company reported strong leasing traction with gross leasing of approximately 9.43 lakh sq. ft. in offices across Mumbai, Pune, Bengaluru, and Chennai between April to mid-October 2025.
• Strategic churn across Phoenix MarketCity malls has led to improvements in category and brand mix, with large anchor spaces optimized for higher rental yields.

Management Commentary

Atul Ruia, Chairman of Phoenix Mills Limited, commented on the results, stating, "Our Q2 FY26 performance reflects the strength of our diversified portfolio and the successful execution of our strategic initiatives. The significant growth in our retail consumption, coupled with improved occupancy in our commercial spaces, underscores the resilience of our business model. We remain committed to delivering value to our stakeholders through our expansion plans and operational excellence."

Phoenix Mills' robust Q2 FY26 results demonstrate the company's ability to capitalize on the recovering retail and commercial real estate markets. With its strategic focus on premium retail spaces and mixed-use developments, the company appears well-positioned for continued growth in the coming quarters.

Phoenix Mills , a leading retail-led mixed-use developer in India, has announced a significant uptick in retailer consumption for the second quarter of fiscal year 2026. The company reported a 13% year-on-year growth in retailer consumption across its properties.

Key Highlights

This growth in retailer consumption is a positive indicator for Phoenix Mills, suggesting robust performance in its retail operations. The increase may reflect improved consumer sentiment, higher footfalls in malls, or successful strategies implemented by the company to drive sales.

Market Implications

The strong growth in retailer consumption could have several implications:

1. Revenue Impact: Higher consumption levels typically translate to increased rental income for mall operators like Phoenix Mills.
2. Investor Confidence: This positive trend may boost investor confidence in the retail real estate sector.
3. Economic Indicators: The growth might be seen as a reflection of broader consumer spending patterns in the Indian economy.

While this news is encouraging, investors and analysts will likely look forward to the full quarterly results to get a comprehensive picture of Phoenix Mills' financial performance across all its business segments.

As always, it's important for investors to consider this information as part of a broader analysis, taking into account other financial metrics, market conditions, and long-term trends in the retail and real estate sectors.