The Phoenix Mills Limited — Important, 09-01-2025: Updates

Retail consumption for the quarter reached approximately Rs. 3,998 Cr, reflecting a robust 21% increase year-over-year, with a like-for-like growth of 10% excluding newly launched malls. The strong performance was buoyed by the festive season and contributions from Phoenix Mall of the Millennium and Phoenix Mall of Asia. Year-to-date consumption stands at about Rs. 10,504 Cr, up 23% over the previous year.

In commercial operations, gross leasing amounted to around 1.7 lakh sq. ft., with current occupancy at 69%. The hospitality segment also showed significant improvements, particularly at The St. Regis, where RevPAR rose by 15% to Rs. 18,855 due to an 84% occupancy rate. Similarly, the Courtyard by Marriott in Agra reported strong revenue performance despite a slight dip in occupancy.

Residential sales for the quarter totaled roughly Rs. 58 Cr, while collections reached approximately Rs. 38 Cr, contributing to a year-to-date sales figure of Rs. 135 Cr. Overall, the outlook remains positive as the company capitalizes on growth in retail and hospitality sectors, alongside strategic property expansions.