The Phoenix Mills Ltd
- P/E
- 52.8x
- 52-week range
- 1,465.6 – 2,169.8
- ROE
- 12%
- ROCE
- 13%
- Sector
- Realty
- Industry
- Residential, Commercial Projects
- Listed on
- NSE, BSE
About
The Phoenix Mills Limited is an India-based owner, operator and developer of retail-led mixed-use destinations. The Company is engaged in the development and leasing of commercial and retail space. Through its retail-led mixed-use developments, comprising retail malls, commercial offices and hospitality assets, the Company also builds residential assets. Its segments include Property and Related Services, Hospitality Services, and Residential Business. Its Property and Related Services segment provides mall /office areas on a license basis and the development of commercial / residential properties. Its Hospitality Services segment is engaged in the operation of hotels and restaurants. Its Residential Business is involved in the sale of residential properties. Its operations span across various aspects of real estate development, planning, execution, marketing, management, maintenance and sales. It has a presence in Mumbai, Bengaluru, Pune, Chennai, Agra, Indore, Lucknow, and Bareilly.
Quick check
The five things to look at first. Open one for more.
Compared with its industry
Residential, Commercial Projects: 174 companies →The Phoenix Mills Ltd against the typical company in its industry. The rank is out of the companies that report each figure; green means the better quarter of the pack, red the worse quarter.
- Valuation (P/E)52.8 against a typical 23.8: pricier than most peers (1st = cheapest).124th of 173
- Sales growth+12.8% against a typical +6.6% from a year earlier.57th of 134
- Profit growth+22.7% against a typical +2.9% from a year earlier.41st of 108
- Share price, 3 months+4.3% against a typical −9.2%.35th of 149
Latest announcements
Exchange filings and their impact on the company.
- NCLT cleared Rs 1,350 cr selective reduction raising Phoenix stake in mall arm ISMDPL to 68.1%.
NCLT Mumbai on Oct 27, 2026 approved selective reduction of capital of subsidiary Island Star Mall Developers, cancelling 3.26 crore shares held by Canada Pension Plan Investment Board for Rs 1,350 crore. Post reduction, Phoenix Mills holding in the subsidiary rises from 58.33% to 68.10% and CPP holding falls from 41.67% to 31.90%. This is part of the July 2025 framework to exit CPP from the subsidiary and involves a large cash payout without changing consolidated operations.
Credit ratings
Every rating action on file, newest first, including reaffirmations. Open a row for the agency's reasoning. All credit rating updates
High safety
Rated AA+ to AA by 2 agencies- India Ratings raised its rating on 31 Aug 2026. CRISIL may follow.
| Agency | Current rating | Outlook | As of |
|---|---|---|---|
| India Ratings | IND AA+; IND A1+ | Stable | 31 Aug 2026 |
| CRISIL | Crisil AA | Stable | 13 Feb 2026 |
| Rating | Details | |||||
|---|---|---|---|---|---|---|
| 31 Aug 2026 | ▲ Upgrade1 notch | IND AA → IND AA+ | — | India Ratings | ₹ 850 Cr. | |
| 13 Feb 2026 | Reaffirmed | Crisil AA | — | CRISIL | ₹ 400 Cr. | |
| 3 Sep 2025 | Reaffirmed | IND AA | — | India Ratings | ₹ 850 Cr. | |
| 7 Aug 2025 | Rating action | Crisil AA | — | CRISIL | ₹ 400 Cr. |
Board meetings
Results dates and other board meetings. Full calendar
| Details | ||
|---|---|---|
| 30 Oct 2026Upcoming | Financial Results | To consider and approve the financial results for the period ended September 30, 2026 |
| 28 Jul 2026 | Financial Results | to consider and approve unaudited Standalone & Consolidated Financial Results of The Company for the Quarter ended June 30, 2026. |
| 27 Apr 2026 | Dividend | Intimation regarding recommendation of final dividend at the upcoming meeting of Board of Directors of The Phoenix Mills Limited ( the Company ) |
| 28 Jan 2026 | Financial Results | To consider and approve the unaudited financial results for the quarter and nine months ended December 31, 2025 |
| 31 Oct 2025 | Financial Results | Pursuant to Regulation 29 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ( Listing Regulations ), we wish to inform you that a Meeting of the Board of Directors of The Phoenix Mills Limited ( Company ) is scheduled to be held on Friday, October 31, 2025, to inter alia consider and approve the unaudited Standalone & Consolidated Financial Results of the Company for the quarter and half year ended September 30, 2025. |
| 24 Jul 2025 | Financial Results | To consider and approve the financial results for the period ended Jun 30, 2025 |
| 30 Apr 2025 | Dividend | Intimation regarding recommendation of final dividend at the upcoming meeting of Board of Directors of The Phoenix Mills Limited ( the Company ) |
Financials
Consolidated figures in ₹ crore.
| ₹ Cr. | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 875 | 986 | 1,306 | 904 | 918 | 975 | 1,016 | 953 | 1,115 | 1,121 | 1,233 | 1,075 |
| Expenses | 369 | 434 | 679 | 373 | 400 | 422 | 457 | 389 | 449 | 465 | 484 | 433 |
| Operating Profit | 506 | 552 | 627 | 531 | 518 | 553 | 560 | 564 | 667 | 656 | 750 | 642 |
| OPM % | 58% | 56% | 48% | 59% | 56% | 57% | 55% | 59% | 60% | 59% | 61% | 60% |
| Other Income | 32 | 34 | 37 | 38 | 37 | 46 | 42 | 32 | 31 | 22 | 57 | 40 |
| Interest | 96 | 104 | 100 | 103 | 103 | 103 | 94 | 95 | 92 | 102 | 97 | 94 |
| Depreciation | 66 | 66 | 76 | 77 | 78 | 81 | 90 | 93 | 91 | 86 | 89 | 96 |
| Profit before tax | 375 | 416 | 489 | 388 | 374 | 415 | 418 | 407 | 515 | 490 | 620 | 492 |
| Tax % | 19% | 17% | 20% | 19% | 22% | 15% | 17% | 21% | 26% | 25% | 22% | 20% |
| Net Profit | 305 | 345 | 392 | 315 | 292 | 353 | 348 | 321 | 384 | 366 | 485 | 394 |
| EPS in Rs | 7.07 | 7.82 | 9.14 | 6.5 | 6.1 | 7.41 | 7.52 | 6.73 | 8.5 | 7.71 | 11.28 | 8.3 |
Growth and returns
Compounded yearly rates over each period.
- 10 Years
- 10%
- 5 Years
- 34%
- 3 Years
- 19%
- TTM
- 18%
- 10 Years
- 24%
- 5 Years
- 83%
- 3 Years
- 14%
- TTM
- 32%
- 10 Years
- 25%
- 5 Years
- 37%
- 3 Years
- 30%
- TTM
- —
- 10 Years
- 9%
- 5 Years
- 10%
- 3 Years
- 11%
- TTM
- —
P/E and EPS over time
Daily P/E and trailing 12-month EPS. EPS updates with each result.
Peers
Listed companies in the same business.
| The Phoenix Mills Ltd | ₹ 1,969.90 | — | 52.8x | — | 12% | — |
| DLF | ₹ 653.55 | ₹ 1,61,774 Cr. | 37.7x | 3.5x | 0% | 0% |
| Lodha Developers | ₹ 963.00 | ₹ 1,01,441 Cr. | 31.7x | 4.8x | 0% | 0% |
| Indus Towers | ₹ 380.00 | ₹ 1,00,250 Cr. | 14.9x | 2.6x | 0% | 0% |
| Oberoi Realty | ₹ 1,587.20 | ₹ 57,846 Cr. | 25.1x | 3.5x | 0% | 0% |
| Godrej Properties | ₹ 1,497.90 | ₹ 45,121 Cr. | 138x | 2.8x | 0% | 0% |
Management
- Kailash Babu Gupta
- Chief Financial Officer
- Rajesh Ramesh Kulkarni
- Chief Executive Officer - Projects Delivery and Architecture and Whole Time Director
- Rashmi Sen
- Chief Executive Officer - Malls and Whole Time Director
- Bhavik Gala
- Company Secretary
Prices are delayed and for information only. Nothing on this page is investment advice.