About The Phoenix Mills Limited

The Phoenix Mills Limited (PML) is India’s leading owner, operator and developer of retail-led mixed-use destinations, with developments spanning retail malls, commercial offices, hospitality and residential assets. The Group’s operational retail portfolio comprises over 11 msft of retail space across 12 malls in 8 major Indian cities, including Mumbai, Bengaluru, Pune, Chennai, Lucknow, Indore, Ahmedabad and Bareilly; further retail space is under development in Thane, Coimbatore and Chandigarh-Mohali, alongside projects in Kolkata and Bengaluru. PML pioneered the retail-led mixed-use format with High Street Phoenix in the 1990s and today operates an integrated model across land acquisition, development, leasing and operations to create experience-led urban destinations. As on March 31, 2025, the Company had 46 subsidiaries and 5 associate companies.

The Phoenix Mills Limited’s Business Segments

PML operates in India with a pan‑India footprint and continues to add scale through greenfield projects and densification of existing assets. The portfolio recorded strong customer engagement, with over 130 million visitors in the year and robust retail consumption of Rs 13,750 crore, reflecting 21% year‑on‑year growth. The operating model integrates offices and hotels within retail‑anchored campuses to deepen tenant productivity and customer experience. Standalone reporting notes India as the single geographical area of operation.

The Phoenix Mills Limited Milestone

Key milestones in the latest year include major land acquisitions, pipeline expansion, asset repositioning across key Phoenix MarketCity locations, and the Board’s approval to buy out CPP Investments’ 49% stake in the ISMDPL platform, subject to requisite approvals.

The Phoenix Mills Limited Key Management

• Atul Ruia – Chairman

• Shishir Shrivastava – Managing Director

• Rajesh Kulkarni – CEO – Projects Delivery & Architecture and Whole‑time Director

• Rashmi Sen – CEO – Malls and Whole‑time Director

• Kailash Gupta – Group Chief Financial Officer

• Bhavik Gala – Company Secretary

Latest Updates on The Phoenix Mills Limited

• Strategic acquisitions and pipeline: Acquisition of ~9.03 acres on Avinashi Road, Coimbatore (~Rs 370 crore); winning bid for two prime plots in Mohali (~Rs 891 crore); and securing ~1.5 million sq. ft. additional FSI at Lower Parel, Mumbai (~Rs 586 crore).

• Platform ownership: On July 24, 2025, the Board approved the buy‑out of CPP Investments’ 49% stake in Island Star Mall Developers Private Limited (ISMDPL), with CCI approval received and completion subject to shareholders’ approval; consideration to be paid in tranches, increasing PML’s effective ownership to 100% upon completion.

• Retail performance: Over 130 million visitors and more than 350 new stores added across the portfolio; retail consumption reached Rs 13,750 crore, up 21% year‑on‑year, with leased occupancy at over 95%.

• Asset repositioning: Premiumisation and anchor optimisation underway across Phoenix MarketCity malls in Mumbai, Pune, Chennai and Bengaluru to elevate brand mix and rental resilience.

• Offices: Received Occupation Certificates for Phoenix Asia Towers in Bengaluru (~0.78 msft) and Tower 3 (~0.52 msft) at Millennium Towers, Pune; FY2025 office income was Rs 210 crore, up 10%, with EBITDA of Rs 131 crore.

• Hospitality: The St. Regis, Mumbai posted income of Rs 523 crore with 86% occupancy, while Courtyard by Marriott, Agra delivered Rs 57 crore in income; the hospitality portfolio recorded Rs 580 crore revenue and Rs 266 crore EBITDA in FY2025.