Realty firm The Phoenix Mills Limited on Monday (July 7) reported a 12% year-on-year increase in retail sales across its operational malls in Q1 FY26, supported by healthy demand and continued momentum across its portfolio.
Key contributors to the consumption growth included Phoenix Palassio (Lucknow), Phoenix Citadel (Indore), Phoenix Palladium (Mumbai), and Palladium Ahmedabad. New assets such as Phoenix Mall of the Millennium and Phoenix Mall of Asia also supported the uptick.
The strategic repositioning of the Phoenix MarketCity portfolio is underway, involving space optimisation and a refreshed tenant mix. As a result, trading occupancy declined slightly to 89% from 91% in Q4 FY25 due to planned transitional vacancies linked to these upgrades.
Also Read: Phoenix Mills posts 21% growth in Q3 retail consumption at ₹3,998 crore
In the commercial office segment, gross leasing of approximately 4.07 lakh square feet was completed during the quarter across assets in Mumbai, Pune, Bengaluru, and Chennai. Occupancy in Mumbai and Vimmanagar (Pune) rose to 69% in June 2025 from 67% in March 2025.
St. Regis, Mumbai, reported 84% occupancy in Q1 FY26, down marginally from 85% a year ago, while average room rate (ARR) rose 13% to ₹18,502 and revenue per available room (RevPAR) increased 11% to ₹15,477. Courtyard by Marriott, Agra reported improved occupancy at 71% (up from 63%), ARR at ₹4,374 (up 5%), and RevPAR at ₹3,175 (up 22%).
The company’s residential segment performance strengthened significantly, with gross sales rising to ₹168 crore in Q1 FY26 from ₹50 crore in the same period last year. Collections also improved to ₹99 crore from ₹60 crore.
Also Read: Phoenix Mills posts 21% growth in Q3 retail consumption at ₹3,998 crore
Shares of Phoenix Mills Ltd ended at ₹1,541.05, down by ₹1.30, or 0.084%, on the BSE.
