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Mumbai-based real estate developer The Phoenix Mills Ltd on Friday (January 9) reported steady operational progress across its retail, commercial office, hospitality, and residential segments during the quarter and nine months ended December 31, 2025 (Q3 & 9M FY26).
Retail portfolio consumption stood at about ₹4,787 crore in Q3 FY26, marking a 20% year-on-year increase, while consumption for the nine-month period rose 15% year-on-year to around ₹12,122 crore.
The company said demand remained broad-based during the festive quarter, even as select assets continued to undergo planned revamp and premiumisation initiatives. Newer malls, including Phoenix Mall of Asia in Bengaluru and Phoenix Mall of the Millennium in Pune, continued to scale up and contributed meaningfully to portfolio momentum.
Also Read: Phoenix Mills Q2 results: Profit rises 39% on strong retail, leasing growth
In the commercial office segment, leasing activity remained strong through 9M FY26, with gross leasing of approximately 1.20 million square feet. Leased occupancy across operational assets in Mumbai and Viman Nagar in Pune improved to 77% as of December 2025, compared with 67% as of March 2025. Leased occupancy across new office developments in Pune, Bengaluru, and Chennai stood at 41%, with advanced-stage leasing discussions providing visibility on further ramp-up.
Millennium Towers 1 and 2 in Pune received Occupation Certificates in Q3 FY26, while Millennium Tower 3 had received its certificate earlier in March 2025. Millennium Towers also achieved USGBC LEED Platinum certification in November 2025.
The hospitality portfolio delivered steady performance during Q3 and 9M FY26, supported by strong occupancies and ARR-led growth in Revenue Per Available Room. The St. Regis, Mumbai, recorded RevPAR growth of 10% year-on-year in Q3 FY26 and 8% year-on-year in 9M FY26, with occupancy levels at 86% during the quarter.
Also Read: Phoenix Mills Q4 Results | Net profit, revenue drop; margin widens to 55%; declares dividend
Residential sales and collections remained steady, supported by the execution and monetisation of premium inventory. Gross residential sales were about ₹140 crore in Q3 FY26, compared with ₹58 crore in the corresponding quarter last year. For the nine-month period, gross residential sales stood at around ₹412 crore, up from ₹135 crore in 9M FY25.
Shares of Phoenix Mills Ltd ended at ₹1,910.00, up by ₹0.36, or 6.80%, on the BSE.
Retail portfolio consumption stood at about ₹4,787 crore in Q3 FY26, marking a 20% year-on-year increase, while consumption for the nine-month period rose 15% year-on-year to around ₹12,122 crore.
The company said demand remained broad-based during the festive quarter, even as select assets continued to undergo planned revamp and premiumisation initiatives. Newer malls, including Phoenix Mall of Asia in Bengaluru and Phoenix Mall of the Millennium in Pune, continued to scale up and contributed meaningfully to portfolio momentum.
Also Read: Phoenix Mills Q2 results: Profit rises 39% on strong retail, leasing growth
In the commercial office segment, leasing activity remained strong through 9M FY26, with gross leasing of approximately 1.20 million square feet. Leased occupancy across operational assets in Mumbai and Viman Nagar in Pune improved to 77% as of December 2025, compared with 67% as of March 2025. Leased occupancy across new office developments in Pune, Bengaluru, and Chennai stood at 41%, with advanced-stage leasing discussions providing visibility on further ramp-up.
Millennium Towers 1 and 2 in Pune received Occupation Certificates in Q3 FY26, while Millennium Tower 3 had received its certificate earlier in March 2025. Millennium Towers also achieved USGBC LEED Platinum certification in November 2025.
The hospitality portfolio delivered steady performance during Q3 and 9M FY26, supported by strong occupancies and ARR-led growth in Revenue Per Available Room. The St. Regis, Mumbai, recorded RevPAR growth of 10% year-on-year in Q3 FY26 and 8% year-on-year in 9M FY26, with occupancy levels at 86% during the quarter.
Also Read: Phoenix Mills Q4 Results | Net profit, revenue drop; margin widens to 55%; declares dividend
Residential sales and collections remained steady, supported by the execution and monetisation of premium inventory. Gross residential sales were about ₹140 crore in Q3 FY26, compared with ₹58 crore in the corresponding quarter last year. For the nine-month period, gross residential sales stood at around ₹412 crore, up from ₹135 crore in 9M FY25.
Shares of Phoenix Mills Ltd ended at ₹1,910.00, up by ₹0.36, or 6.80%, on the BSE.
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