The Phoenix Mills share price
NSE: PHOENIXLTDBSE: 503100RealtyMid Cap
Share price at the NSE close on 28 Oct 2026. Previous close ₹1,905.00.
28 Oct: open ₹1,905.00, high ₹1,919.70, low ₹1,895.30
- Next results date: the board meets on 30 Oct 2026 to consider: financial results. The notice · Results calendar
- Market capMarket capitalisation. Share price times the number of shares: what the whole company is worth at the day's price. The rank is by average market value over the six months to Jun 2026, among listed companies. Market capitalisation: how it is worked out
- ₹67,934 Cr169th largest listed
- P/EPrice to earnings, trailing. Market cap divided by the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, after the share of the other owners of its subsidiaries: what investors pay for each rupee of a year's profit. Price to earnings, trailing: how it is worked out
- 53.07
- P/BPrice to book. Market cap divided by the net worth that belongs to the company's own shareholders, its assets less everything it owes and less the other owners' share of its subsidiaries, on its latest balance sheet. Price to book: how it is worked out
- 6.18
- Dividend yieldDividend yield. Dividends paid per share in the twelve months to the day, as a percentage of the day's share price.
- 0.13%
- ROEReturn on equity. Profit over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, as a percentage of their net worth, the money they have in the business. Net worth is the average of the latest balance sheet and the one a year before it.
- 11.9%
- ROCEReturn on capital employed. Operating profit after depreciation (revenue less operating expenses and depreciation, without other income and one-off items) as a percentage of all the money the business runs on: the whole group's net worth, the other owners of its subsidiaries included, plus borrowings. Lease liabilities are not counted: the results filings do not state them. The profit is over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly); net worth and borrowings are on the latest balance sheet.
- 12.0%
- Debt to equityDebt to equity. Borrowings divided by the whole group's net worth, the other owners of its subsidiaries included: rupees borrowed for each rupee of equity in the business. Lease liabilities are not counted: the results filings do not state them. From the balance sheet at the end of Mar 2026.
- 0.37
- Volume, NSEVolume. Shares traded on the last trading day; delivery is the part buyers kept rather than sold again the same day. Volume in the glossary
- 2,19,80950.6% delivered
About The Phoenix Mills
The Phoenix Mills Limited owns, develops and runs shopping malls in Indian cities and builds offices, hotels and homes around them, making mixed-use destinations.1 Its customers are shoppers, global and domestic brands that rent space in its malls, companies that lease its offices, hotel guests and homebuyers.2
Its business segments are retail, commercial offices, hospitality and residential development.3 It has a portfolio of over 20 million sq. ft. and, counting projects under construction, is present in 14 cities.1 All of its business is in India.4
It was incorporated in 1905.5 Its first mall was High Street Phoenix, now Phoenix Palladium, in Lower Parel, Mumbai.65
Atul Ruia, the chairman, is a promoter, and the promoter group held 47.25% of the shares at the end of Mar 2026.678 At that date it had 43 subsidiaries and 5 associate companies.9 Some assets are owned with partners: CPP Investments in Project Rise in Mumbai and Phoenix Grand Victoria in Kolkata, and GIC in Phoenix MarketCity Mumbai.1011
The Phoenix Mills key points
Results
- In the quarter to Jun 2026, consolidated revenue was ₹1,075 crore, up 13% year on year; EBITDA (earnings before interest, tax, depreciation and amortisation) was ₹642 crore, up 14%, and net profit attributable to owners ₹297 crore, up 23%.1213
- In the year to Mar 2026, consolidated revenue was ₹4,423 crore, up 16%; EBITDA was ₹2,637 crore, up 22%, and net profit attributable to owners ₹1,224 crore, up 24%.14
- At 30 Jun 2026, gross debt was ₹5,658 crore and net debt (debt less cash and investments) ₹3,658 crore, both including associate companies; average cost of debt was 7.69%.1516
- In the quarter to Jun 2026, capital spending was ₹1,085 crore, including ₹716 crore for its land at Chandigarh, now a wholly owned project.17
Business segments
- Retail. It runs 12 malls in 8 cities, of about 11 million sq. ft.; in the quarter to Jun 2026, retailers' sales there were ₹4,730 crore, up 32%, and rental income ₹594 crore, up 17%.1819
- Offices. 7 office developments in Mumbai, Pune, Bengaluru and Chennai, of about 4.8 million sq. ft. In the quarter to Jun 2026, office income was ₹75 crore, up 44%.2021
- Hotels. 2 hotels with about 588 rooms, The St. Regis, Mumbai and Courtyard by Marriott, Agra; in the quarter to Jun 2026, hotel income was ₹145 crore, up 18%.1822
- Residential. Homes at One Bangalore West and Kessaku in Bengaluru; in the year to Mar 2026, gross sales were ₹471 crore and collections (cash received from buyers) ₹467 crore.23
Revenue mix
- Consolidated revenue by business, year to Mar 202624
Item year to Mar 2026 Annuity (recurring) businesses: retail, offices, hotels, asset management ₹3,800 crore Residential and other businesses ₹623 crore
Customers and partners
- Brands present in more than 6 of its malls account for about 67% of its occupied retail space.25
- In the year to Mar 2026, it completed about 920 leasing deals for about 3.2 million sq. ft., with new tenants such as Rolex, Ikea, Uniqlo and Lego.26
- As of its annual report for the year to Mar 2026, leases on about 50% of its operating mall space were due for renewal over the next 3 years.27
Island Star Mall buyout
- Island Star Mall Developers (ISMDPL) owns 4 malls in Bengaluru, Pune and Indore, of about 4.4 million sq. ft., and about 2.2 million sq. ft. of recently completed offices.24
- On 14 Nov 2025, the company completed the first of 4 tranches (instalments) to buy out CPP Investments' 49% stake in ISMDPL, raising its own holding from 51% to 58.33%.28
- The company stated in its annual report for the year to Mar 2026 that CPP Investments is to receive ₹5,449.16 crore, with adjustments, over 3 years from the first payment, the second tranche planned in the year to Mar 2027, pending a tribunal's approval.29
Expansion and capital spending
- In its presentation of 28 Jul 2026, the company said it expects Phoenix Grand Victoria, Kolkata and the Palladium and Bangalore mall expansions to open in 2027, and the Rise offices in Mumbai in 2028.3031
- On its earnings call of 29 Jul 2026, the company said Phoenix Grand Victoria was approaching 90% leased, its Surat mall 50%, and the Palladium and Bangalore phase 2 expansions over 50%.32
- The company stated in its annual report for the year to Mar 2026 that Phoenix MarketCity Bangalore is to grow from about 1 million sq. ft. of retail into a campus of over 4 million sq. ft. with offices and the 400-key Grand Hyatt Bangalore.3327
What the company expects
- In its presentation of 28 Jul 2026, the company said it estimates, subject to change, over 18 million sq. ft. of malls, about 9 million sq. ft. of offices, about 2,188 hotel rooms and about 7 million sq. ft. of homes (cumulative) by 2030.34
- On its earnings call of 29 Jul 2026, the company said it would stay with its guidance of mid-teens per cent rental income growth for the year to Mar 2027 and the year after, to be reviewed as the next quarter shapes up.35
- On its earnings call of 29 Jul 2026, the company said office rent-paying occupancy (space already earning rent), 42% in Jun 2026, should reach the 72% already leased by Mar 2027.36
Recent events
- On 1 Sep 2026, the company said India Ratings had upgraded its credit rating (a grade of the ability to repay debt) on its bank loans from IND AA to IND AA+.37
- On 19 Aug 2026, the company and its subsidiary Offbeat Developers took 45.00% of O2 Renewable Energy XXVIII to buy its renewable power as captive users (buyers that hold a stake in the power plant).38
Last updated
All 38 sources, each with its page
- 1. Annual report, 4 Sep 2026, page 6
- 2. Annual report, 4 Sep 2026, page 14
- 3. Annual report, 4 Sep 2026, page 5
- 4. Annual report, 4 Sep 2026, page 190
- 5. Annual report, 4 Sep 2026, page 54
- 6. Annual report, 4 Sep 2026, page 12
- 7. Annual report, 4 Sep 2026, page 92
- 8. Annual report, 4 Sep 2026, page 104
- 9. Annual report, 4 Sep 2026, page 77
- 10. Annual report, 4 Sep 2026, page 9
- 11. Annual report, 4 Sep 2026, page 21
- 12. Investor presentation, 28 Jul 2026, page 6
- 13. Earnings call, 29 Jul 2026, page 6
- 14. Annual report, 4 Sep 2026, page 16
- 15. Investor presentation, 28 Jul 2026, page 7
- 16. Investor presentation, 28 Jul 2026, page 27
- 17. Earnings call, 29 Jul 2026, page 7
- 18. Investor presentation, 28 Jul 2026, page 3
- 19. Earnings call, 29 Jul 2026, page 3
- 20. Annual report, 4 Sep 2026, page 50
- 21. Investor presentation, 28 Jul 2026, page 15
- 22. Earnings call, 29 Jul 2026, page 5
- 23. Annual report, 4 Sep 2026, page 76
- 24. Annual report, 4 Sep 2026, page 52
- 25. Annual report, 4 Sep 2026, page 38
- 26. Annual report, 4 Sep 2026, page 49
- 27. Annual report, 4 Sep 2026, page 53
- 28. Annual report, 4 Sep 2026, page 203
- 29. Annual report, 4 Sep 2026, page 203
- 30. Investor presentation, 28 Jul 2026, page 28
- 31. Investor presentation, 28 Jul 2026, page 28
- 32. Earnings call, 29 Jul 2026, page 4
- 33. Annual report, 4 Sep 2026, page 9
- 34. Investor presentation, 28 Jul 2026, page 30
- 35. Earnings call, 29 Jul 2026, page 17
- 36. Earnings call, 29 Jul 2026, page 5
- 37. Exchange filing, 1 Sep 2026, page 1
- 38. Exchange filing, 19 Aug 2026, page 1
Results
Consolidated; ₹ crore.The Phoenix Mills quarterly results
- Revenue growth, 12 monthsRevenue growth, 12 months. The last twelve months against the twelve before them. Left empty where the earlier figure was nought or a loss: growth out of a loss has no percentage.
- +17.7%
- Net profit growth, 12 monthsNet profit growth, 12 months. The last twelve months against the twelve before them. Left empty where the earlier figure was nought or a loss: growth out of a loss has no percentage.
- +29.0%
Quarter to Jun 2026, against the quarter before
- RevenueRevenue. The pill is the change in revenue against the quarter before: this period's figure divided by that one's, less one, in per cent.
- ₹1,075 Crdown 12.83%
- Net profitNet profit. The pill is the change in net profit against the quarter before: this period's figure divided by that one's, less one, in per cent. Net profit in the glossary
- ₹395 Crdown 18.73%
- Net marginNet margin. Net profit as a percentage of revenue: how much of each rupee of sales is left after every cost, interest and tax. Net margin in the glossary
- 36.7%
Revenue by quarter
Net profit by quarter, a loss in red
| ₹ crore | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 918 | 975 | 1,016 | 953 | 1,115 | 1,121 | 1,233 | 1,075 |
| Net profit | 292 | 353 | 348 | 321 | 384 | 366 | 485 | 395 |
| Net margin | 31.8% | 36.2% | 34.2% | 33.7% | 34.4% | 32.7% | 39.4% | 36.7% |
Year to Mar 2026, against the year before
- RevenueRevenue. The pill is the change in revenue against the year before: this period's figure divided by that one's, less one, in per cent.
- ₹4,423 Crup 15.98%
- Net profitNet profit. The pill is the change in net profit against the year before: this period's figure divided by that one's, less one, in per cent.
- ₹1,557 Crup 19.06%
- Net margin
- 35.2%
Revenue by year
Net profit by year, a loss in red
| ₹ crore | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 1,825 | 1,620 | 1,982 | 1,941 | 1,073 | 1,483 | 2,638 | 3,978 | 3,814 | 4,423 |
| Net profit | 191 | 256 | 497 | 388 | 48 | 268 | 1,478 | 1,333 | 1,307 | 1,557 |
| Net margin | 10.5% | 15.8% | 25.1% | 20.0% | 4.4% | 18.1% | 56.0% | 33.5% | 34.3% | 35.2% |
Business segments
Share of revenue, year to Mar 2026, consolidated.Segment revenue and profit
- Property & Related ServicesProperty & Related Services, share of revenue. The segment's revenue as a percentage of the revenue of all the company's reported business segments together, leaving out eliminations between them and unallocated items.₹3,233 Crup 9.60%72.5%
- Hospitality servicesHospitality services, share of revenue. The segment's revenue as a percentage of the revenue of all the company's reported business segments together, leaving out eliminations between them and unallocated items.₹729 Crup 8.67%16.3%
- Residential businessResidential business, share of revenue. The segment's revenue as a percentage of the revenue of all the company's reported business segments together, leaving out eliminations between them and unallocated items.₹496 Crup 156.42%11.1%
Valuation
Today, against the company's own history.The Phoenix Mills PE ratio and valuation
At or below today's level on 52% of 1,920 trading days over the last 10 years.
At or below today's level on 91% of 1,958 trading days since Nov 2018.
At or below today's level on 28% of 2,442 trading days over the last 10 years.
Where the return came from
Yearly rates to Mar 2026, per-share figures restated for splits and bonuses.
| Over | Return a year | Earnings growth | Change in P/E | Dividend yield |
|---|---|---|---|---|
| 1 year | −8.2% | +24.3% | −26.3% | 0.2% |
| 3 years | +32.5% | −2.9% | +36.2% | 0.2% |
| 5 years | +31.2% | +86.2% | −29.6% | 0.2% |
Mutual fund holdings
239 funds disclosed a holding for Sep 2026. What they did in Sep 2026, against each fund's month before. 96 of the 125 funds that added or cut are index funds, ETFs or arbitrage funds: an index fund or ETF holds what its index holds, and an arbitrage fund holds the share against a sale of its future. 3 more funds filed their first portfolio on record, holding it.All 239 funds holding The Phoenix Mills
- Bought againBought again. Funds that held it at the month's end, had not held it the month before, and held it in an earlier month.
- 1
- AddedAdded. Funds that held more shares than at the end of the month before.
- 56
- CutCut. Funds that held fewer shares than at the end of the month before.
- 69
- Held unchangedHeld unchanged. Funds that held the same number of shares as at the end of the month before.
- 110
- Sold outSold out. Funds that held it at the end of the month before and hold none at this month's end. Sold out in the glossary
- 5
| Fund | |||
|---|---|---|---|
| 39,74,761 | 2.29% | ₹769.1 Cr | |
| 28,52,177 | 3.21% | ₹551.9 Cr | |
| 27,48,916 | 2.73% | ₹531.9 Cr | |
| 20,00,000 | 1.66% | ₹387.0 Cr | |
| 19,14,631 | 2.14% | ₹370.5 Cr | |
| 18,01,266 | 0.48% | ₹348.5 Cr | |
| 16,81,118 | 1.06% | ₹325.3 Cr | |
| 16,55,051 | 1.06% | ₹320.3 Cr | |
| 14,33,226 | 1.44% | ₹277.3 Cr | |
| 14,00,000 | 1.96% | ₹270.9 Cr |
Promoter and insider buying and selling
Trades made since 29 Oct 2025.The Phoenix Mills insider trading
No promoter, director, key manager or employee bought or sold on the market.
- Promoters and promoter group: no market trade
- Others: no market trade · 21 pledge filings of unclear kind
The Phoenix Mills competitors and peers
Residential, Commercial Projects, 171 listed companies, priced on 28 Oct 2026. The table lists the 8 companies closest to The Phoenix Mills in market cap.Real estate companies
Where the company sits among the companies nearest its size
| Company | ||||||||
|---|---|---|---|---|---|---|---|---|
| 1,64,930 | 36.11 | 3.62 | −29.3% | +6.6% | 10.3% | 1.8% | 1.20% | |
| 1,00,648 | 24.40 | 4.32 | +26.0% | +39.2% | 19.0% | 16.5% | 0.42% | |
| 59,966 | 52.65 | 3.69 | +67.5% | +115.9% | 7.2% | 8.7% | 0.14% | |
| 58,213 | 22.11 | 3.05 | +16.6% | +18.0% | 14.7% | 15.8% | 0.50% | |
| 47,805 | 35.43 | 2.47 | +50.0% | −12.9% | 7.2% | −1.4% | 0.63% | |
| 17,564 | 25.28 | 2.58 | +4.8% | −7.6% | 11.2% | 8.5% | 0.37% | |
| 16,693 | 27.94 | 2.76 | +12.3% | +21.2% | 11.4% | 9.6% | 0.22% | |
| 13,873 | – | – | – | – | – | – | 0.00% |
Dividends
Per share, by the year it was paid for, and the latest payments.The Phoenix Mills dividend history
Dividend per share, ₹, restated for later splits and bonuses
Dividend per share. The dividends declared for the year, each restated to today's share count by the splits and bonuses after its own ex-date, added up. Dividend per share in the glossary| Ex-date | Type | Per share |
|---|---|---|
| 11 Sep 2026 | FinalFinal dividend. Called final by its date: the company did not say which kind it was, and it went ex within six months after the company's year end, the time in which the annual general meeting that declares the final dividend must be held. Final dividend in the glossary | ₹2.50 |
| 15 Sep 2025 | Final | ₹2.50 |
| 20 Aug 2024 | Final | ₹5.00 |
| 15 Sep 2023 | Final | ₹5.00 |
| 12 Sep 2022 | Final | ₹2.40 |
| 16 Sep 2021 | Final | ₹1.00 |
Latest announcements
Routine notices left out.The Phoenix Mills announcements
Oct 2026
26 Oct · Analysts
23 Oct · Board meeting
19 Oct · Disclosure
15 Oct · Business
10 Oct · Analysts
The Phoenix Mills share price by year
Each calendar year to 2025.The Phoenix Mills share price history
| Year | Close at year end | Change | Highest close | Lowest close |
|---|---|---|---|---|
| 2025 | 1,853.50 | +13.4% | 1,853.50 | 1,417.30 |
| 2024 | 1,634.00 | +45.6% | 2,047.65 | 1,117.68 |
| 2023 | 1,122.33 | +57.8% | 1,194.95 | 612.98 |
| 2022 | 711.25 | +44.4% | 772.95 | 447.43 |
| 2021 | 492.68 | +27.2% | 560.58 | 339.38 |
| 2020 | 387.28 | −7.0% | 466.93 | 242.20 |
| 2019 | 416.35 | +47.7% | 421.88 | 278.25 |
| 2018 | 281.80 | −10.1% | 360.53 | 256.65 |
| 2017 | 313.48 | +67.1% | 322.33 | 172.58 |
| 2016 | 187.58 | +11.8% | 216.40 | 121.20 |
Recent sessions
The 9 trading days to 27 Oct 2026, as traded on NSE; the latest is at the top of the page.
| Date | Open | High | Low | Close | Average price | Volume | Delivery |
|---|---|---|---|---|---|---|---|
| 27 Oct 2026 | 1,894.00 | 1,931.50 | 1,894.00 | 1,905.00 | 1,913.06 | 4,01,432 | 54.3% |
| 26 Oct 2026 | 1,842.60 | 1,904.90 | 1,842.60 | 1,894.00 | 1,884.52 | 4,06,389 | 48.7% |
| 23 Oct 2026 | 1,903.00 | 1,912.80 | 1,847.20 | 1,872.30 | 1,870.67 | 3,93,224 | 53.4% |
| 22 Oct 2026 | 1,870.40 | 1,928.10 | 1,866.80 | 1,909.90 | 1,904.40 | 5,26,374 | 45.3% |
| 21 Oct 2026 | 1,884.00 | 1,928.60 | 1,858.00 | 1,874.40 | 1,882.92 | 8,12,794 | 55.8% |
| 19 Oct 2026 | 1,885.00 | 1,929.70 | 1,884.00 | 1,884.00 | 1,906.15 | 4,23,330 | 58.1% |
| 16 Oct 2026 | 1,924.00 | 1,935.00 | 1,890.00 | 1,896.90 | 1,914.62 | 3,56,596 | 63.2% |
| 15 Oct 2026 | 1,883.50 | 1,934.00 | 1,878.00 | 1,917.20 | 1,917.20 | 5,04,390 | 51.8% |
| 14 Oct 2026 | 1,902.00 | 1,919.80 | 1,887.30 | 1,887.30 | 1,904.91 | 7,96,104 | 63.0% |
Price adjustments
What the price chart is corrected for, so it reads as one share held throughout.Bonus shares and stock split history
| Ex-date | Event | Price factor | What happened |
|---|---|---|---|
| 20 Sep 2024 | Bonus | 0.5000 | Holders received 1 bonus share for every 1 held. |
| 13 Feb 2008 | Split | 0.2000 | Each share became 5. |
Company details
- NSE symbol
- PHOENIXLTD
- BSE code
- 503100
- ISIN
- INE211B01039
- Industry
- Realty
- Website
- www.thephoenixmills.com
- CIN
- L17100MH1905PLC000200
- Corporate identity number, the registrar of companies' code for it
- Incorporated
- 1905
- Registered office
- 462, Senapati Bapat Marg, Lower Parel, Mumbai 400013, Maharashtra
- Share registrar
- MUFG Intime India Pvt. Ltd
- Keeps the register of shareholders and handles transfers and dividend payments