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Record Retail Sales Boost Phoenix Mills Shares
Phoenix Mills Ltd. shares jumped over 8% on Wednesday, April 8, driven by an impressive business update that highlighted record financial year performance. The company announced an all-time high for retail consumption, reaching ₹16,578 crore for the financial year 2026. This represents a substantial 21% increase from the previous year. In the fourth quarter alone, consumption saw a significant 31% jump to ₹4,251 crore, showing continued strong growth across its varied businesses.
Commercial Portfolio Expansion
Phoenix Mills also expanded its commercial footprint, adding 2.8 million square feet of Grade A office space across Bengaluru, Chennai, and Pune in FY26. This brings its total commercial portfolio to 4.8 million square feet. As of March 2026, the portfolio reported a leased occupancy rate of 70%, indicating steady demand.
Hotel Business Performance
The company's hotels business showed strong results. The St. Regis in Mumbai reported revenue per average room (RevPAR) growth of 6% in the fourth quarter and 7% for the full fiscal year. Occupancy rates remained high at 86% throughout FY26.
Residential Segment Growth
In its residential arm, Phoenix Mills reported a significant leap in gross sales, increasing from ₹212 crore in the previous year to ₹471 crore in FY26. This growth of nearly 122% highlights a strong performance in its property development ventures.
Stock Performance
Phoenix Mills shares traded approximately 7.6% higher at ₹1,718.8, after reaching an intraday peak of ₹1,735.2. While the stock is currently trading below its 52-week high of ₹1,993, the latest results are providing strong positive momentum.