Phoenix Mills shares rise after retailer sales advance 12% across operational malls in Q1

Shares of the Mumbai-based real estate developer The Phoenix Mills rose as much as 1.24% to hit an intraday high of ₹1,567 on Tuesday, July 8, after the company provided its Q1FY26 business update post market hours on Monday.

Phoenix Mills informed exchanges that its retailer sales (consumption) across all operational malls grew by 12% year-on-year in Q1FY26, reflecting healthy underlying demand and continued momentum across the portfolio.

Consumption growth during the quarter was led by Phoenix Palassio (Lucknow), Phoenix Citadel (Indore), Phoenix Palladium (Mumbai) and Palladium Ahmedabad, supported by the continued ramp-up of our new assets i.e. Phoenix Mall of the Millennium and Phoenix Mall of Asia, the company said in an exchange filing.

"Strategic repositioning is underway across the Phoenix MarketCity portfolio through space optimization, and a refreshed, curated tenant mix refresh; all aimed at driving long-term value and elevating the customer experience. Trading occupancy stood at 89% for the quarter, marginally lower than 91% in Q4 FY25, primarily due to planned, transitional vacancy linked to these upgrades," The Phoenix Mills said.

On the commercial offices front, The Phoenix Mills completed gross leasing of 4.07 lakh square feet in the first quarter of current financial year in Mumbai, Pune, Bengaluru and Chennai.

"Occupancy in the operational assets at Mumbai and Vimmanagar in Pune stood at 69% in June 2025 versus 67% in March 2025," The Phoenix Mills said.

On the hospitality front, St. Regis, Mumbai clocked occupancy of 84% in June quarter with average room rate (ARR) rising 13% to ₹18,502 and Courtyard by Marriott, Agra achieved occupancy of 71% with ARR of ₹4,374.

The company sold residential properties worth ₹168 crore in June quarter as against sales of ₹50 crore in the same period last year.

The Phoenix Mills shares in the first quarter of current financial year declined 4.66% underperforming the BSE Realty index advanced nearly 16% in the first quarter.

As of 9:26 am, The Phoenix Mills shares traded 0.75% higher at ₹1,560, outperforming the SENSEX which was up 0.1%.