Phoenix Mills stock: Q2 profit rises 7%, office income jumps 64%

Published on 11/11/2026 at 01:53 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Phoenix Mills stock came into focus after quarterly profit rose 7.14% year on year. Office income climbed 64% as occupancy improved.

Profit and Office Growth Lead

Phoenix Mills increased consolidated Q2 FY27 profit by 7.14% year on year.
Higher occupancy lifted commercial office income, while the company continues to pursue its 2030 expansion roadmap.
Retail-led mixed-use assets remain the core of Phoenix Mills' operating model.

Phoenix Mills, INE211B01039, Illustration mit AI erstellt.

Phoenix Mills reported consolidated profit of INR 326 crore for the quarter ended September 30, 2026, up 7.14% from INR 304 crore a year earlier. Revenue from operations reached INR 1,153 crore, while EBITDA rose 6.5% to INR 710 crore, according to CNBC TV18 in a report published October 30.

Offices Add Operating Momentum

Commercial office income rose 64% year on year to INR 89 crore in Q2 FY27. Tenant move-ins and the ramp-up of assets completed during 2025 supported the increase, while occupancy across operational office assets in Mumbai and Viman Nagar in Pune reached 83% in September, compared with 77% a year earlier.

Including offices completed in 2025, portfolio occupancy stood at about 79% in September. Phoenix Mills also completed gross leasing of about 600,000 square feet across office assets in Mumbai, Pune, Bengaluru and Chennai during the first half of FY27.

Retail Platform Drives Expansion

The company's retail-led mixed-use portfolio remains central to its growth strategy. Residential gross sales reached about INR 84 crore in Q2 FY27, with collections of approximately INR 85 crore. For the first half, residential gross sales were about INR 147 crore and collections were approximately INR 136 crore.

Phoenix Mills said its growth roadmap through 2030 is supported by existing assets, land parcels and development rights. That approach keeps the next phase of expansion tied to assets already under the company's control.

Phoenix Mills Business Profile

Phoenix Mills is a Mumbai-based operator and developer of retail-led mixed-use destinations. Its activities include retail assets, commercial offices and residential development across major Indian cities including Mumbai, Pune, Bengaluru and Chennai. The portfolio combines established shopping destinations with office and residential projects, giving the company exposure to several segments of Indian real estate.