Net profit after minority interest and associate share came in at Rs 241 crore, marking a 4% growth YoY. The company also managed to reduce its finance cost by 8% even as depreciation rose 21%.
Consolidated EBITDA rose 6% YoY to Rs 564 crore, with core EBITDA climbing 2% to Rs 544 crore. Residential and other verticals added Rs 20 crore to the operating profit, a segment that had no contribution in the same quarter last year. The EBITDA margin remained strong at 59%, unchanged from Q1 FY25.
Retail consumption rose by 12% year-on-year to Rs 3,588 crore. Gross retail collections reached Rs 853 crore, a 7% increase over the previous year.
In commercial offices segment, gross leasing of approximately 4.07 lakh sq. ft. is achieved with income from commercial offices at Rs 52 crore, up 4%. In hospitality segment, revenue rose 11% YoY to Rs 130 crore.
In residential segment, gross sales reached Rs 168 crore, more than three times the figure from the prior year; collections from the segment climbed to Rs 99 crore.
Meanwhile, the company announced a plan acquire the remaining 49% stake in Island Star Mall Developers (ISMDPL) from CPP Investments for Rs 5,449 crore, to be paid in four tranches over 36 months. This acquisition will give Phoenix Mills 100% ownership of ISMDPL, which includes 4.4 million sq. ft. of operational retail space and 2.2 million sq. ft. of completed office area. The transaction is subject to shareholder and regulatory approvals, including those from the Competition Commission of India.
The Phoenix Mills is India’s leading owner, operator and developer of retail-led mixed-use destinations. The group’s developments are spread across retail, hospitality, commercial offices, and residential asset classes.
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