How Did Phoenix Mills Deliver Strong Growth Across Segments in Q2 FY26?
About Phoenix Mills’ Business Update
Phoenix Mills Ltd, one of India’s leading retail and mixed-use real estate developers, has reported robust Q2 FY26 performance across its retail, residential, commercial, and hospitality divisions. The company continues to consolidate its leadership in premium urban spaces through steady expansion and strategic asset repositioning.
Retail Segment: Consumption Remains Resilient
🛍️ Retail consumption grew 13% YoY in Q2 and 12% YoY in H1 FY26 despite monsoon headwinds.
Key malls — Phoenix Palladium (Mumbai), Citadel (Indore), Palladium Ahmedabad, Mall of Millennium (Pune), and Mall of Asia (Bengaluru) — led the growth.
MarketCity Bengaluru and Pune continued repositioning efforts with trading densities up in double digits.
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Commercial Office Segment: Leasing Activity Accelerates
🏢 Leasing momentum remained strong, with ~7.2 lakh sq. ft. leased across Mumbai, Pune, Bengaluru, and Chennai in H1 FY26.
Occupancy improved to 76% versus 67% in March 2025.
Completion certificates were received for new projects in Chennai, Pune, and Bengaluru.
Phoenix Asia Towers (Bengaluru) received LEED Platinum Certification, underscoring the company’s sustainability focus.
Hospitality Division: Resilience Amid Slow Travel Demand
🏨 St. Regis Mumbai: Q2 occupancy 85%, ARR ₹17,711 (+2%), RevPAR ₹15,025 (+2%).
Courtyard by Marriott Agra: Q2 occupancy 60% (vs 67%), ARR ₹4,396 (-4%), RevPAR ₹2,621 (-14%).
Despite muted travel, hospitality remains profitable with H1 occupancy steady at 84% overall.
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Residential Segment: Demand Surpasses Expectations
🏘️ The premium housing portfolio saw a sharp surge in sales and collections.
Q2 FY26 sales jumped to ₹139 Cr versus ₹27 Cr YoY, while collections rose to ₹115 Cr from ₹60 Cr YoY.
For H1 FY26, sales reached ₹287 Cr and collections ₹214 Cr — already surpassing full-year FY25 figures.
Investor Takeaway
Indian-Share-Tips.com Stock Option Expert Gulshan Khera, CFP®, who is also a SEBI Regd Investment Adviser, observes that Phoenix Mills’ performance highlights strong urban consumption trends and real estate demand resilience. Rising mall footfalls and premium housing sales signal sustained investor interest in India’s consumption-driven growth story.
Related Queries
Why Is Phoenix Mills Seeing a Surge in Residential and Retail Sales?
What Role Does Sustainability Play in Phoenix Mills’ Commercial Portfolio?
SEBI Disclaimer: The information provided in this post is for informational purposes only and should not be construed as investment advice. Readers must perform their own due diligence and consult a registered investment advisor before making any investment decisions. The views expressed are general in nature and may not suit individual investment objectives or financial situations.
Phoenix Mills Ltd, Q2 FY26 Business Update, Retail Consumption, Commercial Leasing, Hospitality Growth, Residential Sales, Nifty Tip, Bank Nifty Tip, F&O Tip, Future & Option Tip, Indian-Share-Tips.com, SEBI Registered Investment Adviser
