Phoenix Mills Q4 & FY26 Results: Revenue up 16%, EBITDA up 22% to ₹2,637 Cr
The Phoenix Mills Limited reported FY26 consolidated revenue of ₹4,423 Cr, up 16% YoY, and EBITDA of ₹2,637 Cr, up 22% YoY. Q4 FY26 revenue increased 21% to ₹1,233 Cr, with EBITDA up 34% to ₹750 Cr. Retail consumption grew 21% to ₹16,587 Cr in FY26. Net Debt to EBITDA improved to 1.19x.
The announcement provides detailed financial results and operational performance across key business segments, including significant growth figures and strategic updates. This information is material for investors and stakeholders, impacting their assessment of the company's financial health and future prospects.
The company reported strong year-on-year growth in revenue, EBITDA, and net profit for both the quarter and the full financial year. Key segments like retail and offices showed robust performance and expansion. The improvement in Net Debt to EBITDA ratio also indicates financial strengthening.
The Phoenix Mills Limited has announced its audited standalone and consolidated financial results for the quarter and financial year ended March 31, 2026. The company reported a consolidated revenue of ₹4,423 crore for FY26, marking a 16% year-on-year increase. Consolidated EBITDA stood at ₹2,637 crore, up 22% YoY, while consolidated net profit rose by 24% YoY to ₹1,224 crore. Operating free cash flow for FY26 was ₹2,140 crore, an increase of 23% YoY.
For the fourth quarter of FY26, consolidated revenue was ₹1,233 crore, a 21% increase compared to Q4 FY25. Q4 FY26 consolidated EBITDA surged by 34% to ₹750 crore, with EBITDA margin improving to 61% from 55% in the previous year. Net profit after tax for the quarter grew by 40% to ₹486 crore.
The company's retail segment demonstrated strong performance, with FY26 consumption at ₹16,587 crore, up 21% YoY, and Q4 FY26 consumption at ₹4,261 crore, up 31% YoY. Retail rental income for FY26 grew by 10% to ₹2,157 crore, and EBITDA increased by 12% to ₹2,246 crore. Q4 FY26 retail rental income and EBITDA saw a growth of 14% and 19% respectively.
The office portfolio saw significant expansion, with a portfolio occupancy of 70% as of March 2026, up from 67% in March 2025 for operational offices. Gross leasing of over 2.20 million sq. ft. was completed in FY26 across various locations. The hospitality segment also showed growth, with The St. Regis, Mumbai reporting a 17% YoY increase in EBITDA for Q4 FY26 and FY26.
The company's balance sheet remains strong, with Net Debt to EBITDA declining to 1.19x as of March 2026. Liquidity stood at ₹2,004 crore as of March 2026. The company is progressing with its CPP buyout of ISMDPL, with Tranche 1 payment completed in November 2025.
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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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