According to latest reports from ETRealty, Phoenix Mills delivered exceptional financial results for Q2 FY27, with consolidated net profit increasing 10.8% year-on-year to ₹424.05 crore compared with the previous year. Net consolidated total income increased 3.7% to ₹1,189.09 crore from ₹1,146.21 crore in Q2 FY26. The company demonstrated remarkable operational efficiency with retail consumption across the portfolio surging 25% year-on-year to ₹4,685 crore during the quarter. Retail rental income rose 15% to ₹605 crore, while retail asset EBITDA increased 18% year-on-year to ₹639 crore, showcasing strong performance across all retail segments.
As reported by CNBC TV18, the company's commercial office business recorded income of ₹89 crore in Q2 FY27, marking a 64% increase over the year-ago quarter. Office assets completed during 2025 contributed ₹28 crore to income, supported by tenant move-ins and a ramp-up in occupancy. Occupancy across operational office assets in Mumbai and Viman Nagar in Pune stood at 83% in September 2026, compared with 77% in September 2025. Including offices completed in 2025, portfolio occupancy stood at around 79% in September 2026.
According to ETRealty, the retail segment showed robust growth with retail consumption standing at ₹9,415 crore for H1 FY27, registering a 28% increase over the corresponding period of the previous fiscal. Retail rental income increased 16% year-on-year to ₹1,200 crore during H1 FY27, while retail asset EBITDA rose 17% to ₹1,264 crore. This strong performance across retail operations demonstrates the company's ability to capitalize on growing consumer demand and strategic asset optimization.
As per ETRealty, the company's liquidity stood at ₹2,638 crore as of September 30, 2026, increasing by ₹634 crore from March 2026. Gross debt stood at ₹6,117 crore, up ₹953 crore from March 2026, while net debt was ₹3,479 crore, an increase of ₹319 crore during the same period. The cost of debt stood at 7.66%, representing a spread of 241 basis points over the repo rate. Net debt-to-EBITDA stood at 1.2 times, remaining unchanged from March 2026, indicating stable leverage management despite growth investments.
