Phoenix Mills Q3 FY26: Revenue up 15% to ₹1,121 crore, EBITDA up 19% to ₹656 crore
Phoenix Mills reported Q3 FY26 consolidated revenue of ₹1,121 crore (up 15% YoY) and EBITDA of ₹656 crore (up 19% YoY). Retail consumption grew 25% to ₹4,992 crore. The company increased its stake in ISML to 58.33% after a ₹1,257 crore payment. Net debt stood at ₹3,344 crore.
The announcement includes key financial results for the quarter and nine months, strategic corporate actions (ISML stake increase), and updates on various business segments (retail, office, hospitality, residential), all of which are material to investors.
The company reported strong year-on-year growth in revenue and EBITDA, driven by robust performance across its retail, office, and hospitality segments. Positive updates on strategic investments like the ISML buyout and a healthy balance sheet further contribute to the positive sentiment.
The Phoenix Mills Limited announced its unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025. The company reported a consolidated revenue of ₹1,121 crore for Q3 FY26, marking a 15% year-on-year increase. Consolidated EBITDA grew by 19% year-on-year to ₹656 crore. Retail consumption saw a robust growth of 25% year-on-year, reaching ₹4,992 crore in Q3 FY26, with rental income growing by 13% to ₹573 crore and EBITDA increasing by 16% to ₹585 crore. For the first nine months of FY26, retailer sales reached ₹12,326.7 crore, a 17% year-on-year growth. The office portfolio reported an income of ₹162 crore and EBITDA of ₹103 crore for the first nine months of FY26. The hotels portfolio generated income of ₹423 crore and EBITDA of ₹190 crore for the first nine months of FY26. The residential business recorded gross bookings of ₹412 crore for the first nine months of FY26. The company also provided an update on the ISML partner buyout, with the first tranche payment of ₹1,257 crore made in November 2025, increasing PML's stake in ISML to 58.33%. Gross debt stood at approximately ₹5,200 crore as of December 31, 2025, with liquidity improving to ₹1,858 crore and net debt at ₹3,344 crore, resulting in a net debt to annualized EBITDA ratio of 1.3x.
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The Phoenix Mills Limited filed this with the NSE as a statutory disclosure, categorised under quarterly results. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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See the model portfoliosA plain-language summary of a public exchange filing by The Phoenix Mills Limited. Read the original for the full detail.