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Informist, Tuesday, Apr. 28, 2026

 

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--Phoenix Mills: Expect to launch malls in Kolkata, Surat in H2 FY28 
--CONTEXT: Comments by Phoenix Mills mgmt in post-earnings analyst concall 
--Phoenix Mills: Malls will see strong double-digit growth in FY27 
--Phoenix Mills: Positive on rental growth across retail portfolio 
--Phoenix Mills: Office growth has been phenomenal in the last 12 months 
--Phoenix Mills: Several commercial deals are in the pipeline 
--Phoenix Mills: See 14-15% rental upside in Phoenix Marketcity Pune 
--Phoenix Mills: Many prominent office tenants in pipeline 
--Phoenix Mills: See 20% rise in Phoenix Marketcity Bangalore rental income 
--Phoenix Mills: To bring new brands to Phoenix Marketcity 
--Phoenix Mills: See 95% trading occupancy at Marketcity Pune by FY27-end 
--Phoenix Mills: Seeing 30% consumption growth in April 

 

By Gunjan Rajput and Shakshi Jain 
 

NEW DELHI – The Phoenix Mills Ltd.'s management expects double-digit growth in rental income in 2026-27 (Apr-Mar). "At both our Phoenix Marketcity Bangalore and Phoenix Marketcity Pune Centre, over 3 lakh square feet of area at each mall has undergone strategic repositioning. These new deals will result in a strong double-digit rental growth in the upcoming (ongoing) year," the management said in a conference call with analysts on Tuesday.

 

The company expects a 14–15% increase in rental income from its Pune mall and around 20% growth from its Bengaluru mall. "We expect a meaningful step-up in rental income and earnings before interest, tax, depreciation, and amortisation from FY27 onwards," the management said.

 

Phoenix Mills reported a consolidated net profit of INR 4.03 billion for the March quarter on revenues of INR 12.33 billion. The company is also looking to expand into new cities such as Hyderabad, Jaipur, and Navi Mumbai. It plans to launch malls in Kolkata and Surat in the second half of FY28. 

 

The realty player has seen a phenomenal response from tenants towards its office offerings in the last 12 months, the management said. "Our office platform has undergone a meaningful transformation in both scale and quality. From a portfolio of approximately 2 million square feet spread across Mumbai and Pune in FY24, we have now expanded to nearly 4.8 million square feet today across four cities, Mumbai, Pune, Andhra Pradesh and Chennai, with three large graded developments that were delivered during 2025," the management said.

The company added that several commercial leasing deals have been closed and are currently under documentation. The company also continues to onboard new brands across its Phoenix Marketcity malls. "During FY26, we completed approximately 920 deals covering 3.2 million square feet. We opened over 200 new stores across the portfolio in FY26. This includes several marquee brands like Apple, Ikea, Uniqlo, Bershka, Victoria's Secret, Onitsuka, and flagship stores such as Lifestyle, Tanishq, among several others," management added.

 

The company sees over 95% trading occupancy at Marketcity Pune and Marketcity Bangalore by the end of FY27. On the consumption front, the company reported around 30% growth in April, supported by seasonal demand in the jewellery segment. Excluding jewellery, consumption growth was 17–18%.

At 1323 IST, shares of the company were down 1.6% at INR 1,770.20 on the National Stock Exchange.  End

 

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

Edited by Ashish Shirke

 

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