THE PHOENIX MILLS LTD

Management reported a strong start to FY27, with consolidated revenue growing 13% year-on-year to Rs. 1,075 crores and operating EBITDA increasing 14% to Rs. 642 crores. Core revenue from annuity businesses rose 17% to Rs. 1,033 crores, while EBITDA grew 19% to Rs. 649 crores. The retail portfolio showed robust performance, with rental income up 17% to Rs. 594 crores and consumption increasing 32% to Rs. 4,730 crores. Management highlighted the successful repositioning of assets, particularly in Pune and Bangalore, leading to improved occupancy and rental growth. The office segment also performed well, with income rising 44% to Rs. 75 crores. Management emphasized a disciplined approach to capital allocation and a strong development pipeline, with several projects set to become operational by 2027 and 2028. The earnings call concluded with a Q&A session addressing various operational strategies and market conditions.

Management emphasized strong growth across multiple business segments and a healthy development pipeline.