India · Delayed Price · Currency is INR The Phoenix Mills Earnings Call Transcripts
Fiscal Year 2026
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Q3 FY26 saw 15% revenue and 19% EBITDA growth, led by robust retail consumption (+25% YoY), strong office leasing, and healthy hospitality and residential performance. Asset upgrades and portfolio optimization drove higher trading densities and rental growth, with prudent capital allocation and low leverage maintained.
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Revenue and EBITDA saw robust double-digit growth year-over-year, led by strong retail and residential performance. Office and hotel segments also improved, with major expansions and new projects on track. Net debt and cost of debt declined, supporting future growth.
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Announced acquisition of 100% of ISML for INR 5,449 crore, enabling full control and future growth. Q1 saw 12% retail consumption growth, 4% rental income growth, and strong office leasing. CapEx of INR 1,200–1,300 crore planned, with major expansions and leasing ramp-up targeted by 2026.
Fiscal Year 2025
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Core businesses delivered 16% revenue growth, with strong retail and hotel performance, while consolidated revenue dipped 4% due to softer residential sales. Major expansions and revamps are underway, with robust leasing and double-digit growth expected in FY 2026.
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Q3 FY 2025 delivered robust growth across retail, office, and hotel segments, with core business revenue and EBITDA up over 14% and 21% year-on-year, respectively. Expansion projects and strong consumption trends support a positive outlook, with a solid balance sheet and pipeline to 2030.
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Q2 FY25 saw strong growth in retail and commercial segments, with adjusted operating revenue up 22% and EBITDA up 19% year-on-year. The company maintains a robust development pipeline, improved credit rating, and healthy financial metrics, despite a temporary slowdown in some retail categories.
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Q1 FY25 saw 12% revenue growth and 10% profit rise year-over-year, with strong retail and commercial performance despite headwinds from elections and infrastructure disruptions. Retail rental income and EBITDA surged, and new projects and expansions are on track for 2027 targets.