Phoenix Mills Posts All-Time High Retail Consumption in FY26 - Stock Surges 7%

Phoenix Mills shares were trading at Rs 1,720 on 11.45 AM on April 8, 2026, up 7 per cent for the session. The stock opened at Rs 1652, touched an Intraday high of Rs 1,720.50, and held a low of Rs 1650 during the day.

Phoenix Mills Limited released its operational business update for Q4 and FY26 on April 7, 2026, reporting strong performance across all its business segments for the year ended March 31, 2026.

Retail
Retail consumption for FY26 reached approximately Rs 16,578 crore, up 21 per cent year on year, marking an all-time high for the company. This was achieved entirely from the existing portfolio, with no new mall additions during the year. Q4 FY26 consumption stood at approximately Rs 4,251 crore, up 31 per cent year on year, making it the strongest quarter of the year in terms of year on year growth.
The performance was broad-based across the portfolio. Assets that underwent planned repositioning and premiumisation, a deliberate programme aimed at strengthening medium-term earnings, continued their transition while the rest of the portfolio recorded double-digit consumption growth for the year.

Commercial Offices
During 2025, Phoenix Mills expanded its office portfolio significantly, adding approximately 2.8 million square feet of Grade A office space across Bengaluru, Chennai, and Pune. This took the total portfolio GLA to approximately 4.8 million square feet from around 2 million square feet earlier.
The office portfolio delivered strong and broad-based occupier interest across key markets, with gross leasing of over 2.2 million square feet during FY26. Portfolio leased occupancy stood at approximately 70 per cent as of March 2026. Leasing activity remains active, with advanced-stage discussions across assets pointing to further occupancy improvement ahead.

Hospitality
The hotel portfolio delivered a steady performance through FY26, even against a tougher operating environment and a high base from the previous year. The St. Regis Mumbai recorded RevPAR growth of 6 per cent year on year in Q4 FY26 and 7 per cent year on year for the full year, driven by average room rate growth. Occupancy was maintained at 86 per cent in FY26, consistent with the previous year, reflecting the rate-led, premium nature of the hotel's operating model.

Residential
Residential sales more than doubled year on year, with gross sales of approximately Rs 471 crore in FY26 against Rs 212 crore in FY25. This was driven by steady execution and the continued monetisation of ready, premium inventory.
Note: All figures mentioned above are provisional and unaudited, subject to finalisation and audit adjustments.

About the Company
Phoenix Mills Limited is engaged in the operation and management of malls, the Construction of commercial and residential property, and the hotel business in India. Its core businesses include retail, office, hospitality, and asset management. 

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Disclaimer: The article is for informational purposes only and not investment advice.