Phoenix Mills Limited (PML), a leading retail-led mixed-use developer in India, has reported robust financial results for the first quarter and announced a significant strategic move to acquire full ownership of its subsidiary, Island Star Mall Developers Private Limited (ISMDPL).

Q1 Financial Highlights

For the quarter ended June 30, Phoenix Mills reported:

• Consolidated revenue from operations of Rs. 953.00 crore, up 5% year-over-year
• Consolidated EBITDA of Rs. 564.00 crore, a 6% increase from the same quarter last year
• Net profit after tax and share in profits of associates at Rs. 320.86 crore, growing 2% year-over-year

The company's core businesses, comprising retail, office, and hotel segments, showed steady growth:

• Revenue from core businesses reached Rs. 881.00 crore, up 4% from the previous year
• EBITDA from core businesses stood at Rs. 544.00 crore, a 2% increase year-over-year

Retail Segment Performance

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

• Retail consumption grew by 12% to Rs. 3,588.00 crore
• Retail rental income increased by 4% to Rs. 506.00 crore
• Retail EBITDA rose by 4% to Rs. 535.00 crore

Strategic Acquisition of ISMDPL

Phoenix Mills announced its decision to acquire the remaining 49% stake in ISMDPL from Canada Pension Plan Investment Board (CPP Investments). Key details of the transaction include:

• Total consideration of approximately Rs. 5,449.00 crore
• Payment to be made over 36 months in four tranches
• Post-completion, PML will hold 100% ownership of ISMDPL

The ISMDPL platform includes:

• Operational retail Gross Leasable Area (GLA) of ~4.4 million sq ft
• Completed office GLA of ~2.2 million sq ft
• Ongoing and planned expansions at Phoenix MarketCity Bangalore

Management Commentary

Shishir Shrivastava, Managing Director of Phoenix Mills, stated, "This transaction allows us to consolidate full ownership of a portfolio of high-quality, retail-led mixed-use assets across key Indian cities. ISMDPL has grown into a strong platform with scale, stability, and clear visibility for future growth."

Future Outlook

The acquisition is expected to be earnings-accretive from the first year itself. Phoenix Mills anticipates significant EBITDA growth from ISMDPL over the next 4-5 years, driven by:

1. Leasing of completed offices
2. Ramp-up in retail occupancy and rental increases
3. Re-leasing at higher rents through churning and premiumization of Phoenix MarketCity Bangalore
4. Activation of under-construction and planned assets
5. Phased development of balance FSI

Conclusion

Phoenix Mills' strong quarterly performance, coupled with the strategic acquisition of ISMDPL, positions the company for continued growth in the retail-led mixed-use development sector. The full integration of ISMDPL into PML's portfolio is expected to enhance the company's market presence and financial performance in the medium to long term.

Phoenix Mills Ltd. (PML), a prominent real estate developer, recently witnessed significant market activity and has announced its upcoming earnings call. Here's a breakdown of the latest developments:

Block Trade on NSE

Phoenix Mills Ltd. experienced a substantial block trade on the National Stock Exchange (NSE), indicating notable investor interest in the company:

This block trade suggests a significant transaction involving PML shares, potentially reflecting institutional interest or a major shareholder movement.

Upcoming Earnings Call

In a recent corporate filing, Phoenix Mills Ltd. has announced its schedule for the upcoming earnings conference call:

The company will be represented by key executives:

• Mr. Shishir Shrivastava - Managing Director
• Mr. Kailash B Gupta - Group Chief Financial Officer
• Mr. Varun Parwal - Group President - Strategy, Audit & Head - Corporate Finance

Financial Results Announcement

Phoenix Mills Ltd. has scheduled its Board Meeting for July 24, 2025, to consider and approve the Unaudited Standalone and Consolidated Financial Results for the quarter ended June 30, 2025. The results will be announced on the same day, following the conclusion of the Board Meeting.

Investor Access

For investors and analysts interested in participating in the earnings call:

• Universal Dial-in numbers: +91 22 6280 1341 / +91 22 7115 8242
• International Toll-Free numbers are available for Hong Kong, Singapore, UK, USA, and Canada
• A Diamond Pass link for pre-registration is available on the company's website

Phoenix Mills Ltd. has stated that the results presentation will be shared prior to the scheduled Earnings Conference Call. Investors can find more details and updates on the company's website at https://www.thephoenixmills.com/investors .

This combination of significant market activity and the upcoming earnings call suggests an important period for Phoenix Mills Ltd. and its stakeholders. Investors and market watchers will likely be keen to hear the company's performance update and future outlook during the upcoming call.