Company and Document Details

Authorized Signatory: Bhavik Manilal Gala, Company Secretary (Membership No. F8671)

Operational Performance Summary

The company commenced FY27 with a strong operating performance across its retail, commercial office, hospitality, and residential businesses.

Retail Segment Performance

  • Portfolio consumption for Q1 FY27 stood at ₹4,727 crores.
  • This represents a 32% year-on-year (YoY) growth, delivered from the existing operational portfolio.
  • Performance was supported by healthy consumption trends across the portfolio, with double-digit growth across most assets.
  • During the quarter, Phoenix MarketCity Pune was relaunched as Phoenix Avenue of Stars, marking a repositioning and premiumisation initiative aimed at enhancing tenant mix, customer experience, and asset positioning.

Commercial Offices Segment Performance

  • The commercial office portfolio leased occupancy improved to 72% as of June 2026, up from 70% as of March 2026.
  • Gross leasing of approximately 1.9 lakh sq. ft. was completed during the quarter.
  • Leasing activity remains encouraging, with advanced-stage discussions providing visibility on further occupancy improvement.
  • The portfolio includes: Art Guild House, The Centrium and Phoenix Paragon in Mumbai; Fountainhead and Millennium Towers in Pune; Phoenix Asia Towers in Bengaluru; and One National Park in Chennai.

Hospitality Segment Performance

  • The hotel portfolio delivered strong performance during Q1 FY27.
  • The St. Regis, Mumbai recorded a RevPAR growth of 15% YoY.
  • Courtyard by Marriott Agra recorded a RevPAR growth of 23% YoY.
  • Growth was supported by healthy occupancies and double-digit Average Room Rate (ARR) growth.

Residential Segment Performance

  • Residential sales for the quarter stood at ₹64 crores.
  • Residential collections for the quarter stood at ₹51 crores.
  • The business continued to focus on monetisation of premium ready inventory.

Forward-Looking Statement

Supported by strong consumption trends, continued office leasing momentum, positive hospitality performance, and its established retail-led platform, the Company remains focused on driving sustainable long-term growth.

Important Note

All figures presented are provisional and unaudited, and are subject to finalization and audit adjustments.