The Phoenix Mills Cash Flow Statement

Financials in millions INR. Fiscal year is April - March.

Millions INR. Fiscal year is Apr - Mar.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '25 Mar 31, 2025	Mar '24 Mar 31, 2024	Mar '23 Mar 31, 2023	Mar '22 Mar 31, 2022	Mar '21 Mar 31, 2021
Net Income	9,842	10,992	13,350	2,374	576.32
Depreciation & Amortization	3,258	2,696	2,272	1,848	2,087
Other Amortization	7.12	6.15	6.21	10.44	7.04
Gain (Loss) on Sale of Assets	7.53	56.09	-5.74	0.98	-176.18
Gain (Loss) on Sale of Investments	-752.01	-670.93	-578.64	-315.74	-78.04
Asset Writedown	-	78.12	-	-	-
Stock-Based Compensation	29.72	44.03	35.67	37.03	5.46
Income (Loss) on Equity Investments	0.25	-	-	-	-
Change in Accounts Receivable	273.75	-478.66	38.09	-526	-462.14
Change in Accounts Payable	-453.17	179.87	4,356	1,040	-991.29
Change in Other Net Operating Assets	2,292	-142.5	-	-	-
Other Operating Activities	6,023	5,304	-1,750	2,907	2,744
Operating Cash Flow	20,836	21,609	13,561	7,806	4,319
Operating Cash Flow Growth	-3.58%	59.36%	73.72%	80.72%	-41.52%
Acquisition of Real Estate Assets	-26,173	-16,736	-18,257	-12,592	-7,243
Sale of Real Estate Assets	20.16	5.24	11.84	320.64	340.15
Net Sale / Acq. of Real Estate Assets	-26,153	-16,731	-18,246	-12,271	-6,903
Cash Acquisition	418.86	-26.96	-9,672	-	-
Investment in Marketable & Equity Securities	3,134	-2,192	11,775	-15,896	-3,008
Other Investing Activities	978.44	358.17	782.22	-244.45	408.67
Investing Cash Flow	-21,621	-18,591	-15,360	-28,412	-9,502
Short-Term Debt Issued	539	-	3,518	-	-
Long-Term Debt Issued	3,960	10,500	16,251	14,327	-
Total Debt Issued	4,499	10,500	19,770	14,327	-
Short-Term Debt Repaid	-	-3,101	-	-1,218	-415.23
Long-Term Debt Repaid	-2,928	-5,746	-20,788	-13,914	-1,812
Total Debt Repaid	-2,928	-8,847	-20,788	-15,132	-2,228
Net Debt Issued (Repaid)	1,571	1,654	-1,019	-805.44	-2,228
Issuance of Common Stock	52.91	55.98	52.44	95.92	10,907
Common Dividends Paid	-894.96	-895.96	-430.69	-174.06	-2.51
Other Financing Activities	-1,202	-3,806	2,715	23,159	-3,460
Miscellaneous Cash Flow Adjustments	-	-	80.18	-	-
Net Cash Flow	-1,258	25.78	-401.74	1,670	34.57
Cash Interest Paid	3,454	3,806	3,669	2,795	3,680
Cash Income Tax Paid	2,849	3,168	2,090	576.98	-124.28
Levered Free Cash Flow	14,891	17,611	8,055	6,240	-1,708
Unlevered Free Cash Flow	17,411	20,086	10,187	8,067	454.7
Change in Working Capital	2,191	2,943	-41.49	697.78	-973.97

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Real Estate template. Financial Sources.