Earnings Call/Transcript
Phoenix Mills Q2 FY27 Earnings Call Transcript
Phoenix Mills filed the transcript of its Q2 and H1 FY27 earnings conference call held on October 31, 2026, covering unaudited standalone and consolidated financial results.
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Realty
Residential, Commercial Projects
73,577 Cr
High Risk
44.0
33.6
2.9
8.1
2,168.65
1,465.30
Sales CAGR
Profit CAGR
ROE
ROCE

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Bearish
7
Neutral
2
Bullish
5
Bearish
7
Neutral
2
Bullish
37
Bearish
0
Neutral
0
Bullish
32
Bearish
0
Neutral
0
Bullish
32
Bearish
0
Neutral
0
Bullish
32
Bearish
0
Neutral
0
Bullish
32
Earnings Call/Transcript
Phoenix Mills filed the transcript of its Q2 and H1 FY27 earnings conference call held on October 31, 2026, covering unaudited standalone and consolidated financial results.
Public Notice/Press Release
Phoenix Mills published newspaper advertisements on November 3, 2026 regarding the special window for transfer and dematerialisation of physical shares.
Regulatory/Compliance Filing
Phoenix Mills will participate in the BofA Property Week Virtual Conference on November 6, 2026.
Earnings Call/Transcript
Phoenix Mills has made available the audio recording of its earnings call covering unaudited Q2 and H1 FY27 standalone and consolidated results.
Earnings Call/Transcript
Phoenix Mills concluded its earnings conference call with analysts and institutional investors on October 31, 2026, discussing unaudited standalone and consolidated results for the quarter and half year ended September 30, 2026.
Financial Results
Phoenix Mills published newspaper notices providing access to unaudited standalone and consolidated results for the quarter and half year ended September 30, 2026.
Phoenix Mills Ltd (PHOENIXLTD) is currently trading at 2,071.45 per share. Stock prices fluctuate during market hours on NSE and BSE based on demand, company updates, and overall market conditions. Refer to the live price chart above for the most recent price movement.
The Phoenix Mills Limited owns, operates, and develops retail-led mixed-use destinations spanning shopping malls, offices, hotels, residential projects, and asset management activities across India. Its portfolio includes nine operational retail assets and more than 20 million square feet across retail, commercial, hospitality, and residential developments, supported by a landmark-focused destination strategy. Retail consumption rose 25% year-on-year to INR 4,685 crore in Q2 FY27, with every mall delivering double-digit growth. Importantly, growth was broad based: excluding jewellery and electronics, consumption increased 22%, while fashion, food and beverages, accessories, and entertainment all contributed meaningfully without any addition to operational retail area. The company’s annuity businesses delivered stronger growth than consolidated results suggest, with Q2 revenue rising 16%, EBITDA increasing 21%, and profit before minority interest growing 31%. Lower consolidated growth reflected timing of residential revenue recognition, although INR 120 crore of already-sold residential units remains to be booked in the second half. Management is using active asset enhancement rather than relying only on new malls. Reconfiguration, tenant churn, upgraded facades, gourmet dining, and additional retail floors are being deployed across existing centres, while approximately 50% of retail area faces lease expiry between FY27 and FY29, creating substantial repricing and tenant-mix opportunities. The company is entering a major development cycle while maintaining conservative leverage. Net debt was INR 3,479 crore, net debt-to-EBITDA was 1.2 times, and operating free cash flow from annuity businesses reached INR 1,137 crore in the first half, supporting committed development and selective future land acquisitions.
Over the past 52 weeks, Phoenix Mills Ltd has traded between a low of ₹1,465.30 and a high of ₹2,168.65. The 52-week high and low indicate the stock’s price range over the last year and help investors understand its volatility and recent trading levels.
Phoenix Mills Ltd has a market capitalization of approximately 73,577.28. Market capitalization represents the total value of a company’s outstanding shares and helps investors understand its size, stability, and relative risk compared to other listed companies.
Phoenix Mills Ltd’s investment profile depends on its business fundamentals, valuation, and long-term outlook. The stock currently trades at a PE ratio of 44.02 and operates in the its sector sector. Investors typically assess financial performance, growth prospects, and individual risk tolerance before making investment decisions.
Based on its market capitalization of 73,577.28 Cr, Phoenix Mills Ltd is classified as a Mid Cap stock. Large-cap stocks are generally more stable, while mid-cap and small-cap stocks tend to offer higher growth potential along with higher price volatility.
Phoenix Mills Ltd operates in the its sector sector. Sector classification matters because companies in the same sector are often affected by similar economic conditions, regulatory changes, and competitive dynamics, which can influence overall stock performance.
The Price-to-Earnings (PE) ratio of Phoenix Mills Ltd is 44.02. The PE ratio compares a company’s share price to its earnings and is commonly used to assess valuation. Comparing the PE ratio with sector peers and historical levels provides better context.
Phoenix Mills reported retail consumption of ₹4,685 crore in Q2 FY27. This represented year-on-year growth of 25% and was achieved without adding operational retail area.
PML reported Rs 1,215 crore of operating free cash flow in H1 FY27. This was 22% higher than Rs 998 crore in H1 FY26. Net cash from operating activities was Rs 1,367 crore and net interest paid was Rs 151 crore.
PML targets more than 18 million square feet of retail gross leasable area by 2030. Its reported planning base is about 11 million square feet in 2025, with an interim target of more than 14 million square feet by 2027 - 2028.
Phoenix Mills reported H1 FY27 hotels EBITDA of Rs 118 crore, up 16% year on year. Hotels income increased 15% to Rs 282 crore during the same period.