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Phoenix Mills (503100) investor relations material
Phoenix Mills Q2 25/26 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Revenue for H1 FY26 reached INR 2,068 crore, up 14% year-over-year; Q2 revenue was INR 1,115 crore, up 22% year-over-year.
Consolidated EBITDA for H1 was INR 1,231 crore, up 17% year-over-year; Q2 EBITDA was INR 667 crore, up 29%.
Net profit for Q2 FY26 stood at INR 383 crore, up 32% year-over-year; H1 FY26 net profit was INR 703 crore, up 16%.
Diluted EPS for H1 FY26 was INR 15.23, up 21% year-over-year.
Financial statements reviewed and approved by the Audit Committee and Board on October 31, 2025.
Financial highlights
Operating cash flow for H1 FY26 was INR 981 crore, up 21% year-over-year.
Total CapEx for H1 was INR 658 crore, mainly for ongoing project construction.
Gross debt reduced to INR 4,684 crore as of Sep 2025; net debt declined by INR 503 crore to INR 2,203 crore.
Net debt-to-EBITDA ratio reduced to ~0.9x as of Sep 2025.
Average cost of debt declined to 7.6% in Sep 2025.
Outlook and guidance
Confident of delivering double-digit growth across the retail portfolio in FY26, driven by strong consumer demand and brand enhancement.
Office portfolio targets 80–90% occupancy by end of FY26, with strong leasing momentum expected to uplift financial performance.
Ongoing land acquisition and project pipeline to deliver 1–2 million sq. ft. of retail annually beyond 2030.
Group continues to focus on property and related services, hospitality, and residential business segments.
Ongoing merger and amalgamation process for certain subsidiaries and step-down subsidiaries filed with NCLT.
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