About
The Phoenix Mills Limited engages in the operation and management of malls, construction of commercial and residential properties, and hotel business in India. The company operates in three segments, Property and Related Services, Hospitality, and Residential Business. Its real estate asset portfolio consists of retail mall, commercial office, residential, and hospitality projects located in Mumbai, Chennai, Bengaluru, Pune, Kolkata, Lucknow, Bareilly, Agra, Ahmedabad, Indore, Surat, Chandigarh, Thane, and Coimbatore. The company owns and operates hotels under The St. Regis name; Courtyard by Marriott brand name in Agra; and various restaurants in Mumbai and Agra. It operates malls primarily under the Phoenix Palladium, Phoenix MarketCity, Palladium, Phoenix United, Phoenix Palassio, Phoenix Paragon, Phoenix Citadel, Phoenix Grand Victoria, Phoenix Mall of Asia, and Phoenix Mall of the Millennium brand names. The Phoenix Mills Limited was incorporated in 1905 and is based in Mumbai, India.
Key Metrics
as of Sep 2026Market Cap69,461 Cr
P/E53.60
Div Yield0.13 %
Book Value₹307.00
52w High₹2,170.00
52w Low₹1,465.00
Face Value₹2.00
Quarterly Results
Rs. Crores · hover row for definition| Metric | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | Jun 2024 | Mar 2024 | Dec 2023 | Sep 2023 | Jun 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,075.00 | 1,233.00 | 1,121.00 | 1,115.00 | 953.00 | 1,016.00 | 975.00 | 918.00 | 904.00 | 1,306.00 | 986.00 | 875.00 | 811.00 |
| Expenses | 433.00 | 484.00 | 465.00 | 449.00 | 389.00 | 457.00 | 422.00 | 400.00 | 373.00 | 679.00 | 434.00 | 369.00 | 318.00 |
| Operating Profit | 642.00 | 750.00 | 656.00 | 667.00 | 564.00 | 560.00 | 553.00 | 518.00 | 531.00 | 627.00 | 552.00 | 506.00 | 492.00 |
| OPM % | 60.00 | 61.00 | 59.00 | 60.00 | 59.00 | 55.00 | 57.00 | 56.00 | 59.00 | 48.00 | 56.00 | 58.00 | 61.00 |
| Other Income | 40.00 | 57.00 | 22.00 | 31.00 | 32.00 | 42.00 | 46.00 | 37.00 | 38.00 | 37.00 | 34.00 | 32.00 | 29.00 |
| Depreciation | 96.00 | 89.00 | 86.00 | 91.00 | 93.00 | 90.00 | 81.00 | 78.00 | 77.00 | 76.00 | 66.00 | 66.00 | 63.00 |
| Interest | 94.00 | 97.00 | 102.00 | 92.00 | 95.00 | 94.00 | 103.00 | 103.00 | 103.00 | 100.00 | 104.00 | 96.00 | 96.00 |
| Profit before tax | 492.00 | 620.00 | 490.00 | 515.00 | 407.00 | 418.00 | 415.00 | 374.00 | 388.00 | 489.00 | 416.00 | 375.00 | 363.00 |
| Tax % | 20.00 | 22.00 | 25.00 | 26.00 | 21.00 | 17.00 | 15.00 | 22.00 | 19.00 | 20.00 | 17.00 | 19.00 | 20.00 |
| Net Profit | 394.00 | 485.00 | 366.00 | 384.00 | 321.00 | 348.00 | 353.00 | 292.00 | 315.00 | 392.00 | 345.00 | 305.00 | 291.00 |
| EPS in Rs | 8.30 | 11.28 | 7.71 | 8.50 | 6.73 | 7.52 | 7.41 | 6.10 | 6.50 | 9.14 | 7.82 | 7.07 | 6.73 |
Profit & Loss
Annual · Rs. Crores| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 4,423.00 | 3,807.00 | 3,972.00 | 2,616.00 | 1,460.00 | 1,040.00 | 1,936.00 | 1,977.00 | 1,614.00 | 1,817.00 | 1,769.00 | 1,639.00 |
| Expenses | 1,786.00 | 1,645.00 | 1,790.00 | 1,096.00 | 725.00 | 539.00 | 963.00 | 975.00 | 830.00 | 961.00 | 978.00 | 877.00 |
| Operating Profit | 2,637.00 | 2,162.00 | 2,182.00 | 1,519.00 | 735.00 | 501.00 | 973.00 | 1,001.00 | 784.00 | 856.00 | 790.00 | 762.00 |
| OPM % | 60.00 | 57.00 | 55.00 | 58.00 | 50.00 | 48.00 | 50.00 | 51.00 | 49.00 | 47.00 | 45.00 | 47.00 |
| Other Income | 142.00 | 163.00 | 126.00 | 721.00 | 74.00 | 86.00 | 60.00 | 125.00 | 50.00 | 39.00 | -11.00 | -63.00 |
| Interest | 387.00 | 403.00 | 396.00 | 341.00 | 295.00 | 348.00 | 348.00 | 351.00 | 349.00 | 424.00 | 443.00 | 396.00 |
| Depreciation | 360.00 | 327.00 | 270.00 | 228.00 | 186.00 | 209.00 | 208.00 | 204.00 | 198.00 | 195.00 | 177.00 | 168.00 |
| Profit before tax | 2,032.00 | 1,595.00 | 1,643.00 | 1,671.00 | 328.00 | 29.00 | 478.00 | 572.00 | 287.00 | 276.00 | 159.00 | 136.00 |
| Tax % | 23.00 | 18.00 | 19.00 | 12.00 | 24.00 | -16.00 | 26.00 | 19.00 | 26.00 | 31.00 | 48.00 | 36.00 |
| Net Profit | 1,557.00 | 1,307.00 | 1,333.00 | 1,478.00 | 268.00 | 48.00 | 388.00 | 497.00 | 256.00 | 191.00 | 84.00 | 91.00 |
| EPS in Rs | 34.22 | 27.53 | 30.76 | 37.37 | 6.65 | 1.68 | 10.91 | 13.73 | 7.91 | 5.49 | 4.21 | 1.22 |
| Dividend Payout % | 7.00 | 9.00 | 8.00 | 7.00 | 18.00 | 31.00 | 0.00 | 11.00 | 16.00 | 22.00 | 26.00 | 90.00 |
Balance Sheet
Annual · Rs. Crores — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 72.00 | 72.00 | 36.00 | 36.00 | 36.00 | 36.00 | 31.00 | 31.00 | 31.00 | 31.00 | 31.00 | 29.00 |
| Reserves | 10,917.00 | 10,377.00 | 9,422.00 | 8,344.00 | 6,547.00 | 5,003.00 | 3,678.00 | 3,443.00 | 2,821.00 | 2,119.00 | 1,997.00 | 1,645.00 |
| Borrowings | 5,323.00 | 4,687.00 | 4,639.00 | 4,259.00 | 3,982.00 | 4,063.00 | 4,308.00 | 4,244.00 | 3,666.00 | 3,626.00 | 3,889.00 | 3,402.00 |
| Other Liabilities | 6,541.00 | 6,292.00 | 5,003.00 | 4,787.00 | 3,765.00 | 2,288.00 | 2,528.00 | 2,398.00 | 1,979.00 | 1,233.00 | 1,507.00 | 1,565.00 |
| Total Liabilities | 22,853.00 | 21,427.00 | 19,100.00 | 17,426.00 | 14,330.00 | 11,389.00 | 10,545.00 | 10,116.00 | 8,497.00 | 7,008.00 | 7,424.00 | 6,641.00 |
| Fixed Assets | 14,772.00 | 14,466.00 | 13,137.00 | 10,964.00 | 7,508.00 | 7,207.00 | 6,453.00 | 6,522.00 | 5,668.00 | 4,500.00 | 4,548.00 | 4,130.00 |
| CWIP | 3,879.00 | 3,143.00 | 1,503.00 | 2,295.00 | 2,049.00 | 1,274.00 | 1,534.00 | 896.00 | 503.00 | 328.00 | 195.00 | 214.00 |
| Investments | 1,490.00 | 1,465.00 | 1,725.00 | 1,282.00 | 2,317.00 | 576.00 | 590.00 | 745.00 | 829.00 | 410.00 | 161.00 | 200.00 |
| Other Assets | 2,712.00 | 2,353.00 | 2,734.00 | 2,884.00 | 2,456.00 | 2,333.00 | 1,968.00 | 1,952.00 | 1,498.00 | 1,770.00 | 2,520.00 | 2,097.00 |
| Total Assets | 22,853.00 | 21,427.00 | 19,100.00 | 17,426.00 | 14,330.00 | 11,389.00 | 10,545.00 | 10,116.00 | 8,497.00 | 7,008.00 | 7,424.00 | 6,641.00 |
Cash Flows
Annual · Rs. Crores — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | 2,426.00 | 2,084.00 | 2,161.00 | 1,356.00 | 781.00 | 432.00 | 739.00 | 350.00 | 1,514.00 | 1,419.00 | 497.00 | 564.00 |
| Cash from Investing Activity | -1,646.00 | -2,162.00 | -1,859.00 | -1,528.00 | -2,841.00 | -950.00 | -362.00 | -1,394.00 | -1,825.00 | -354.00 | -377.00 | -102.00 |
| Cash from Financing Activity | -731.00 | -47.00 | -299.00 | 132.00 | 2,228.00 | 522.00 | -287.00 | 1,053.00 | 277.00 | -1,108.00 | -71.00 | -455.00 |
| Net Cash Flow | 50.00 | -126.00 | 3.00 | -40.00 | 167.00 | 3.00 | 90.00 | 9.00 | -33.00 | -43.00 | 50.00 | 7.00 |
| Free Cash Flow | 1,029.00 | -532.00 | 488.00 | -468.00 | 774.00 | 309.00 | -3.00 | -1,110.00 | 13.00 | 1,234.00 | 112.00 | 456.00 |
| CFO/OP % | 104.00 | 110.00 | 114.00 | 103.00 | 114.00 | 84.00 | 87.00 | 43.00 | 196.00 | 171.00 | 80.00 | 86.00 |
Ratios
Annual · Days / % — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 26.00 | 22.00 | 25.00 | 33.00 | 70.00 | 114.00 | 38.00 | 36.00 | 29.00 | 30.00 | 57.00 | 49.00 |
| Inventory Days | 973.00 | — | 854.00 | — | — | — | — | — | — | — | — | — |
| Days Payable | 265.00 | — | 224.00 | — | — | — | — | — | — | — | — | — |
| Cash Conversion Cycle | 734.00 | 22.00 | 654.00 | 33.00 | 70.00 | 114.00 | 38.00 | 36.00 | 29.00 | 30.00 | 57.00 | 49.00 |
| Working Capital Days | -11.00 | -112.00 | -78.00 | -111.00 | -160.00 | -212.00 | -94.00 | -77.00 | -150.00 | 40.00 | 134.00 | 91.00 |
| ROCE % | 13.00 | 11.00 | 12.00 | 10.00 | 5.00 | 4.00 | 9.00 | 11.00 | 10.00 | 11.00 | 11.00 | 11.00 |
Corporate Actions
24 records| Action | Ex Date | Record Date | Ratio | Amount (₹) | Notes |
|---|---|---|---|---|---|
| Dividend | 15 Sep 2025 | 15 Sep 2025 | — | 2.50 | |
| Bonus | 20 Sep 2024 | 21 Sep 2024 | 1:1 | — | |
| Dividend | 20 Aug 2024 | 20 Aug 2024 | — | 5.00 | |
| Dividend | 15 Sep 2023 | — | — | 5.00 | |
| Dividend | 12 Sep 2022 | — | — | 2.40 | |
| Dividend | 16 Sep 2021 | — | — | 1.00 | |
| Other | 17 Sep 2020 | — | — | — | Annual General Meeting |
| Dividend | 17 Sep 2019 | — | — | 3.00 | |
| Dividend | 11 Sep 2018 | — | — | 2.60 | |
| Dividend | 18 Sep 2017 | — | — | 2.40 | |
| Dividend | 31 Aug 2016 | — | — | 0.45 | |
| Dividend | 17 Mar 2016 | 19 Mar 2016 | — | 1.75 | |
| Dividend | 02 Sep 2015 | — | — | 2.20 | |
| Dividend | 13 Aug 2014 | — | — | 2.20 | |
| Dividend | 12 Aug 2013 | — | — | 2.20 | |
| Dividend | 10 Aug 2012 | — | — | 2.00 | |
| Dividend | 09 Sep 2011 | — | — | 1.80 | |
| Dividend | 17 Sep 2010 | — | — | 1.20 | |
| Dividend | 11 Sep 2009 | — | — | 1.00 | |
| Dividend | 12 Sep 2008 | — | — | 1.00 | |
| Split | 13 Feb 2008 | 20 Feb 2008 | 10:2 | — | |
| Dividend | 25 Oct 2007 | — | — | 3.00 | NSE/BSE dividend mismatch: NSE=0.6; BSE=3.0 |
| Dividend | 25 Oct 2007 | — | — | 0.60 | NSE/BSE dividend mismatch: NSE=0.6; BSE=3.0 |
| Bonus | 09 Dec 2005 | 16 Dec 2005 | 4:1 | — |
Announcements
5 filingsShareholding Pattern
Open on BSEFinancial Results — Filings
Open on BSEBoard Filings
Open on BSEAnnual Reports
Credit Ratings
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Rating update31 Aug from fitch
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Rating update13 Feb from crisil
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Rating update3 Sep 2025 from fitch
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Rating update7 Aug 2025 from crisil
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Rating update4 Aug 2025 from crisil
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Rating update19 Nov 2024 from crisil
Conference Calls
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