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Informist, Wednesday, Jul. 8, 2026

--Phoenix Mills Apr-Jun retail consumption INR 47.27 bln, up 32% on year 

--Phoenix Mills Q1 residential sales INR 640 mln, collections INR 510 mln 

MUMBAI – The Phoenix Mills Ltd. started 2026-27 (Apr-Mar) on a strong note, reporting a healthy operating performance across its businesses in the quarter ended June, according to provisional figures detailed by the company Wednesday. Its portfolio consumption in retail grew 36% on year to INR 47.27 billion in Apr-Jun, supported by healthy consumption trends across the portfolio, with double-digit growth across most assets, the company said in an exchange filing. 

Select retail assets continued to progress through planned repositioning and premiumisation initiatives aimed at enhancing tenant mix, customer experience and asset positioning, Phoenix Mills said. The commercial office portfolio continued to witness occupier interest across key markets, with portfolio leased occupancy improving to 72% as of June from 70% as of March. During the June quarter, the company gross leased 190,000 square feet of space. "Leasing activity remains encouraging, with advanced-stage discussions across assets providing visibility on further occupancy improvement," the company said. 

In the company's hotels portfolio, St. Regis, Mumbai, and Courtyard by Marriott, Agra, recorded growth in revenue per available room at 15% on year and 23% on year, respectively, in Apr-Jun, supported by healthy occupancies and double-digit average room rate growth. During the quarter, the company recorded residential sales of INR 640 million while collections was INR 510 million. "The (residential) business continued to focus on monetisation of premium ready inventory," the company said. 

For the March quarter, Phoenix Mills reported a consolidated net profit of INR 4.03 billion on revenue of INR 12.33 billion. On Wednesday, shares of the company closed 2.5% lower at INR 2,022.50 on the National Stock Exchange.  End 

Reported by Arya S. Biju

Edited by Avishek Dutta

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