Phoenix Mills Q1 profit rises 23% as revenue growth lifts operating performance

Phoenix Mills reported Q1 consolidated profit of ₹296.9 crore, up 23.3% year on year, as revenue increased 12.8% to ₹1,074.9 crore. EBITDA rose 13.7% to ₹641.5 crore and margin improved to 59.7%.

— Source publishedTue, 28 Jul, 2026, 18:51 IST·First seen Tue, 28 Jul, 2026, 18:53 IST·Source CNBC-TV18 · Companies

What happened

Phoenix Mills reported a 23.3% year-on-year rise in Q1 consolidated profit to ₹296.9 crore, supported by 12.8% revenue growth and stronger EBITDA. The mall

Key facts

  • Consolidated profit ₹296.9 crore, up 23.3% year-on-year from ₹240.7 crore
  • Consolidated revenue ₹1,074.9 crore, up 12.8% year-on-year from ₹953 crore
  • EBITDA ₹641.5 crore, up 13.7% year-on-year from ₹564.3 crore
  • EBITDA margin 59.7%, versus 59.2% a year earlier
  • Shares closed at ₹2,031.15, down 0.23%

Why this matters

Improved profitability and ₹641.5 crore of quarterly EBITDA strengthen Phoenix Mills’ capacity to pursue selective retail-led real-estate expansion, partnerships and asset-development opportunities.

What to watch

  • Like-for-like consumption growth and tenant sales per square foot across major malls.
  • Occupancy, leasing spreads, trading occupancy and the pace of new store openings by key anchor tenants.
  • EBITDA margin retention after accounting for new-mall ramp-up, maintenance and pre-opening costs.
  • Revenue contribution and profitability trajectory of new retail, office and hospitality assets.
  • Net debt, finance costs, operating cash flow and capex commitments.
  • Competitive mall supply and discretionary-consumption trends in Mumbai, Pune, Bengaluru and other core catchments.
  • Pursue lease renewals at higher rentals, especially in premium fashion, luxury, F&B and entertainment categories.
  • Increase mall monetisation through tenant mix upgrades, events, digital advertising and parking or ancillary revenue.
  • Advance development and expansion pipeline while sequencing capex to preserve balance-sheet flexibility.
  • Use sustained operating cash generation to reduce leverage, fund growth and evaluate selective capital recycling or partnership opportunities.
  • Highlight tenant sales growth, trading occupancy and leasing spreads to support the valuation case beyond headline profit growth.