loader2
Login Open ICICI 3-in-1 Account
  • Text Size
  • Text to Speech
  • Color Contrast
  • Pause Animations

Open ICICI
3-in-1 Account

Manage your Savings, Demat and Trading Account conveniently at one place

+91

BLOG

Phoenix Mills reported 32% YoY growth in retail portfolio consumption

ICICIdirect Research 09 Jul 2026 DISCLAIMER

News: Phoenix Mills reported 32% YoY growth in retail portfolio consumption at ₹ 4727 crore with double digit growth across most assets in Q1FY27. Commercial office portfolio saw leasing occupancy improving to 72% as on June 2026 from 70% as on March 2026 while it completed gross leading of ~1.9 lakh sq ft during Q1FY27. In its hotel portfolio, The St. Regis, Mumbai and Courtyard by Marriott Agra recorded RevPAR growth of 15% YoY and 23% YoY, respectively, supported by healthy occupancies and double-digit ARR growth during Q1FY27. Residential business reported sales and collections of ₹ 64 crores and ₹ 51 crores respectively during Q1FY27.

View: The company continued to witness strong consumption growth during Q1FY27 (Q4FY26 consumption was up 31% YoY). Commercial portfolio saw improvement in occupancy while it registered healthy RevPAR growth in its hotel portfolio. Residential sales remained broadly steady at ₹ 64 crore (₹ 70 crore in Q4FY26) although collections declined significantly QoQ (₹ 153 crore in Q4FY26). Considering strong consumption growth, the company is likely to witness healthy double digit rental income growth YoY during Q1FY27.

Impact: Positive

Download ICICI Direct app

Invest, Track, and Manage your Portfolio Anytime, Anywhere

Download ICICI Direct app

Invest, Track, and Manage your Portfolio Anytime, Anywhere