Phoenix Mills Shines in Q2: Net Profit Jumps to Rs 3.04 Billion on Robust Retail and Leasing Growth

Phoenix Mills Ltd, a leading retail-led mixed-use real estate developer, posted an impressive Q2 FY25 performance, reaffirming its leadership in India’s premium retail space. Consolidated net sales rose to Rs 11.15 billion, while net profit climbed to Rs 3.04 billion, backed by strong operational recovery and continued traction in experiential retail spaces.

The company credited sustained customer footfall, resilient leasing demand, and rising tenant sales across its retail destinations for the robust growth. Its mixed-use model—combining retail, office, and hospitality—helped buffer macroeconomic pressures while maintaining high occupancy levels in key markets.

Management indicated strong rental income growth and optimistic pre-leasing trends, with expansion projects in markets like Pune and Bengaluru expected to drive future revenue visibility.

Key Highlights:

Consolidated net sales: Rs 11.15 billion

Consolidated net profit: Rs 3.04 billion

Driven by higher leasing income and retail recovery

Strong occupancy across malls and commercial assets

Continued growth outlook with multiple projects in pipeline

Sources: NSE filings, BSE corporate disclosures, Moneycontrol, Economic Times