Mumbai, January 30, 2025 – The Phoenix Mills Limited (PML), a leading developer of retail-led mixed-use properties, announced its unaudited financial results for the quarter and nine months ended December 31, 2024. The company reported robust growth in revenue and profitability, driven by strong operational performance across its retail, hospitality, and residential segments.
Key Financial Highlights (Standalone)
(₹ in Lakhs unless stated otherwise)| Particulars | Q3 FY25 | Q2 FY25 | Q3 FY24 | 9M FY25 | 9M FY24 | FY24 (Audited) |
|---|---|---|---|---|---|---|
| Net Sales/Income from Operations | 12,745.66 | 11,557.62 | 11,984.35 | 36,126.49 | 35,011.73 | 46,571.33 |
| Total Income | 14,149.65 | 22,009.97 | 12,466.42 | 48,586.59 | 45,354.95 | 57,443.68 |
| EBITDA (before exceptional items) | 6,461.69 | 14,997.37 | 5,794.16 | 27,275.79 | 26,386.22 | 32,122.89 |
| Profit Before Tax (PBT) | 6,461.69 | 14,997.37 | 5,794.16 | 32,013.44 | 26,386.22 | 32,122.89 |
| Net Profit After Tax (PAT) | 5,581.26 | 13,391.66 | 5,021.95 | 28,573.18 | 22,734.23 | 28,021.27 |
| Earnings Per Share (EPS) – Basic | 1.56 | 3.75 | 1.41 | 7.99 | 6.37 | 7.82 |
Key Financial Highlights (Consolidated)
| Particulars | Q3 FY25 | Q2 FY25 | Q3 FY24 | 9M FY25 | 9M FY24 | FY24 (Audited) |
|---|---|---|---|---|---|---|
| Net Sales/Income from Operations | 97,513.04 | 91,796.65 | 98,608.69 | 2,79,723.74 | 2,67,173.88 | 3,97,768.75 |
| Total Income | 1,00,552.65 | 95,506.36 | 1,02,048.36 | 2,90,299.20 | 2,76,672.70 | 4,10,986.72 |
| Profit Before Tax (PBT) | 41,505.38 | 37,414.70 | 41,640.83 | 1,17,737.87 | 1,15,427.96 | 1,64,292.32 |
| Net Profit After Tax (PAT) | 35,093.19 | 29,064.41 | 34,399.00 | 95,501.71 | 93,752.52 | 1,32,632.12 |
| Earnings Per Share (EPS) – Basic | 7.41 | 6.10 | 7.83 | 20.01 | 21.64 | 30.68 |
Segment Performance
Phoenix Mills operates through three primary business verticals:| Segment | Q3 FY25 Revenue (₹ Lakhs) | YoY Growth (%) |
|---|---|---|
| Property & Related Services | 76,587.73 | 14.3% |
| Hospitality Services | 19,282.43 | 16.7% |
| Residential Business | 1,642.88 | -89.1% (YoY decline due to lower sales bookings) |
Key Developments & Corporate Announcements
- Expansion & Divestments:
- Phoenix Logistics and Industrial Parks Private Limited divested its entire shareholding in Janus Logistics and Industrial Parks Private Limited for a total sale consideration of ₹4,793.72 Lakhs.
- Gain from the sale was classified as an exceptional item in the financials.
- Bonus Issue & Equity Expansion:
- Bonus issue of 1:1 was approved in September 2024, increasing total equity share capital.
- Post-bonus, paid-up equity share capital increased to ₹7,150.05 Lakhs.
- Exceptional Gains:
- ₹7,600 Lakhs realized from the sale of undivided share in land and development potential to a subsidiary.
Management Commentary
Shishir Shrivastava, Managing Director, Phoenix Mills Limited, commented:Strategic Outlook
- Retail & Commercial Leasing: Strong leasing momentum across premium malls with high occupancy rates.
- Hospitality Growth: RevPAR (Revenue per Available Room) expected to rise with increased travel demand.
- Residential Segment Challenges: Focus remains on premium residential launches to mitigate fluctuations in sales.
- Expansion Strategy: Continued investments in logistics parks and mixed-use developments to diversify revenue streams.
Conclusion
Phoenix Mills Limited continues to demonstrate strong revenue growth, operational efficiency, and profitability across its business segments. The company's strategic asset monetization, bonus issuance, and retail expansion plans indicate a positive trajectory for long-term value creation.Stock Market Impact: Given the robust earnings, bonus issue, and continued expansion, investors are likely to remain optimistic about PHOENIXLTD’s growth prospects in FY2025.