Phoenix mills has officially cancelled its participation in the IIFL India Conference that was scheduled for institutional investor interactions in Mumbai. The company informed both major stock exchanges about this decision on February 26, 2026.

Regulatory Communication Details

The company filed the cancellation notice under Regulation 30 of Securities and Exchange Board of India (Listing Obligations & Disclosure Requirements) Regulations, 2015. Company Secretary Bhavik Gala signed the communication addressed to both BSE Limited and The National Stock Exchange of India Limited.

Previous Commitment and Reversal

The Phoenix Mills Limited had previously provided advance intimation on February 23, 2026, regarding its planned participation in the IIFL India Conference. The conference was organized by IIFL Institutional Equities specifically for investor interactions. However, the company has now decided not to attend the conference.

Compliance and Transparency Measures

In line with regulatory requirements and transparency practices, the company has uploaded this intimation on its official website. The document is available in the investors section under FY2026 Exchange Intimations at the company's website.

Corporate Communication Framework

The formal communication was addressed to the compliance departments of both stock exchanges where Phoenix Mills shares are listed. The notice ensures that all stakeholders, including investors and regulatory bodies, are informed about the change in the company's conference participation plans. This adherence to disclosure norms demonstrates the company's commitment to maintaining transparent communication with the investment community.

Phoenix Mills reported strong financial performance for Q3FY26, with consolidated revenue reaching ₹1,121 crores, marking a 15% year-on-year increase. The company's consolidated EBITDA grew by 19% to ₹656 crores, demonstrating robust operating leverage across its diversified platform of retail, offices, hospitality, and residential segments.

Strong Retail Performance Drives Growth

The retail segment delivered exceptional performance during the festive quarter, with consumption growing 25% year-on-year to ₹4,992 crores. Rental income from retail operations increased 13% to ₹573 crores, while retail EBITDA grew 16% to ₹585 crores. For the nine months of FY26, retailer sales reached ₹12,326 crores, representing 17% year-on-year growth.

Mall-wise Performance Highlights

Phoenix Mall of Asia in Bengaluru emerged as the standout performer with 112% consumption growth, reaching ₹732 crores for the quarter. Phoenix Palladium Mumbai recorded 22% growth, while Phoenix Palassio Lucknow and Phoenix Mall of Millennium Pune both achieved 25% growth. The company's trading density improvements were notable, with Phoenix Market City Bangalore reaching ₹3,011 per square foot per month for 9MFY26, up 23% year-on-year.

Office Portfolio Expansion and Leasing

The office segment achieved significant milestones with nearly 1.2 million square feet of gross leasing completed year-to-date across Mumbai, Pune, Bengaluru, and Chennai. Occupancy at stabilized assets in Mumbai and Pune increased to 76% from 67% at March 2025. The operational office portfolio generated income of ₹162 crores for nine months with EBITDA of ₹103 crores.

Hospitality and Residential Segments

The hospitality business delivered strong performance with income of ₹423 crores for nine months, up 8% year-on-year, while EBITDA grew 16% to ₹190 crores with healthy margins of 45%. The St. Regis Mumbai operated at 85% occupancy with average room rates exceeding ₹20,000, up 8% year-on-year. In residential, gross bookings for nine months reached ₹412 crores with pricing exceeding ₹29,000 per square feet.

Financial Position and Capital Allocation

The company maintained a prudent balance sheet with gross debt of ₹5,200 crores and improved liquidity of ₹1,858 crores. Net debt stood at ₹3,344 crores, maintaining a healthy net debt to annualized EBITDA ratio of 1.3x. Operating cash flow after working capital, taxes, and interest reached ₹1,508 crores for nine months, up 24% year-on-year. The company completed the first tranche payment of ₹1,257 crores for the CPP transaction, increasing its stake in ISML to 58.33% from 51%.

The company's diversified platform continues to demonstrate resilience and growth potential, with strong operating cash flows supporting ongoing capital expenditure and strategic investments while maintaining financial flexibility.