The operator and developer of retail-led mixed-use destinations, Phoenix Mills reported a 7.14% year-on-year increase in consolidated net profit to ₹326 crore for the September quarter, compared with ₹304 crore in the corresponding period last year. Revenue from operations grew 3.4% to ₹1,153 crore from ₹1,115 crore.
Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) increased 6.5% year-on-year to ₹710 crore from ₹667 crore, while the EBITDA margin improved to 61.6% from 59.8%.
The company’s commercial office business recorded income of ₹89 crore in Q2 FY27, marking a 64% increase over the year-ago quarter. Office assets completed during 2025 contributed ₹28 crore to income, supported by tenant move-ins and a ramp-up in occupancy.
Occupancy across the operational office assets in Mumbai and Viman Nagar in Pune stood at 83% in September 2026, compared with 77% in September 2025. Including offices completed in 2025, portfolio occupancy stood at around 79% in September 2026.
The company also reported gross leasing of around 6 lakh square feet across its office assets in Mumbai, Pune, Bengaluru and Chennai during the first half of FY27.
In its residential business, gross sales stood at around ₹84 crore in Q2 FY27, while collections were approximately ₹85 crore. For the first half of the financial year, gross residential sales were around ₹147 crore and collections stood at approximately ₹136 crore.
The company said its growth roadmap to 2030 is embedded in existing assets, land parcels and development rights already under its control.
Phoenix Mills shares closed 0.64% lower at ₹1,957.20 on October 30, declining ₹12.70, ahead of earning announcements.
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