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Retail Roars, Homes Soar: Phoenix Mills Delivers Stellar Q1 with 236% Jump in Residential Sales

Updated: July 07, 2025 17:38

Image Source: BW BusinessWorld
Phoenix Mills Ltd has kicked off FY26 with a powerful performance across both its residential and retail verticals, signaling robust consumer sentiment and strategic execution. The company reported a sharp surge in gross residential sales and continued momentum in retailer sales, reinforcing its position as a leader in India’s retailled mixeduse development space.
 
Residential Segment: A Breakout Quarter
  • Gross residential sales stood at Rs 1.68 billion in Q1 FY26, up from Rs 500 million in the same quarter last year
  • This marks a 236 percent yearonyear growth, driven by strong demand and faster conversion cycles
  • The company achieved an average selling price of approximately Rs 26,000 per sq. ft.
  • Sales were primarily led by premium inventory in Mumbai and Pune, with new launches contributing significantly
Retail Segment: Steady Growth Amid Expansion
  • Retailer sales rose 25 percent yearonyear to Rs 3,214 crore in Q1 FY26
  • Gross retail collections reached Rs 794 crore, up 28 percent from the previous year
  • Newly launched malls such as Phoenix Mall of Asia (Bengaluru) and Phoenix Mall of the Millennium (Pune) saw rising trading occupancy
  • Weighted average trading occupancy across major malls stood at 90 percent, while leased occupancy hit 97 percent
Operational Highlights and Expansion
  • The company continues to benefit from its strategy of developing retailled mixeduse assets in highgrowth urban corridors
  • Commercial leasing also gained traction, with 1.51 lakh sq. ft. leased in Q1 across Mumbai and Pune assets
  • Operational office assets saw occupancy rise to 71 percent in June 2025 from 70 percent in March
Outlook
Phoenix Mills is poised for continued growth in FY26, backed by a strong pipeline of mall developments, rising residential demand, and a resilient retail ecosystem. With a diversified portfolio and strategic urban presence, the company remains wellpositioned to capitalize on India’s consumptionled growth story.
 
Sources: NDTV Profit, Economic Times, Moneycontrol, Phoenix Mills Investor Update

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