PHOENIXLTD The Phoenix Mills Q2 FY27 results (Jul–Sep 2026) and concall
Phoenix Mills had a strong annuity quarter. Annuity revenue rose 16% and annuity EBITDA 21%, driven by like-for-like gains at existing malls, office occupancy ramp-up and better hotel room rates. Consolidated revenue of ₹1,153 crores grew less because residential revenue is booked only on handover. Net debt fell ₹179 crores QoQ to ₹3,479 crores, but it is still above the March level after heavy land spending, and an undisclosed land acquisition is at an advanced stage. Management expects to beat its 15% FY27 rental growth guidance and set out a large development pipeline from CY2027 to CY2030.
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What they filed
Q2 FY27: revenue down 84.2%, net profit down 1.6% against the same quarter last year.
| Line item | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | Q2 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 6 | 8 | 6 | 19 | 14 +133% | 8 +0% | 17 +183% | 3 −84% |
| EBITDA | 81 | 70 | 82 | 87 | 98 +21% | 92 +31% | 100 +22% | 93 +7% |
| Net profit | 56 | 52 | 41 | 129 | 46 −18% | 55 +6% | 62 +51% | 127 −2% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Inve summary of a publicly available earnings call transcript; see how call summaries are prepared. Not investment advice.
