The Board of Directors of The Phoenix Mills Limited ('the Company') at its meeting held on Tuesday, July 28, 2026, considered and approved the Unaudited Standalone and Consolidated Financial Results for the quarter ended June 30, 2026 (Q1 FY27). The meeting commenced at 04:15 p.m. (IST) and concluded at 04:57 p.m. (IST).

Standalone Financial Performance (₹ in Lakhs)

Income Statement:

  • Net Sales/Income from Operations: ₹14,744.62 (Q1 FY27) vs ₹12,553.42 (Q1 FY26) - 17.5% increase
  • Other Income: ₹620.22 (Q1 FY27) vs ₹563.19 (Q1 FY26)
  • Total Income: ₹15,364.84 (Q1 FY27) vs ₹13,116.61 (Q1 FY26) - 17.1% increase

Expenses:

  • Employee Benefits Expenses: ₹971.38
  • Finance Cost: ₹1,358.25
  • Electricity Expenses: ₹533.62
  • Depreciation and Amortisation Expenses: ₹2,036.33 (includes accelerated depreciation of ₹462.48 for mall redevelopment)
  • Other Expenses: ₹3,195.71
  • Total Expenses: ₹8,095.29

Profitability:

  • Profit before Exceptional items: ₹7,269.55 vs ₹4,785.00 (Q1 FY26) - 51.9% increase
  • Exceptional Items: Nil (compared to ₹443.47 loss in Q4 FY26)
  • Profit before tax: ₹7,269.55 vs ₹4,785.00 (Q1 FY26) - 51.9% increase
  • Tax expense: ₹1,114.86
  • Net Profit for the period: ₹6,154.69 vs ₹4,071.79 (Q1 FY26) - 51.1% increase
  • Other Comprehensive Income/(loss): ₹150.67
  • Total Comprehensive Income for the period: ₹6,305.36

Capital Structure:

  • Paid-up equity share capital: ₹7,152.81 (increased from ₹7,152.69 due to allotment of 5,844 equity shares of ₹2 each pursuant to ESOP scheme 2018 exercise)
  • Basic EPS (After exceptional item): ₹1.72 vs ₹1.14 (Q1 FY26)

Consolidated Financial Performance (₹ in Lakhs)

Income Statement:

  • Revenue From Operation: ₹1,07,494.40 (Q1 FY27) vs ₹95,298.53 (Q1 FY26) - 12.8% increase
  • Total Income: ₹1,11,515.87

Expenses:

  • Cost of Materials Consumed: ₹4,908.70
  • Change in Inventories: ₹(495.67)
  • Employee Benefits Expenses: ₹10,549.10
  • Finance Cost: ₹9,384.29
  • Electricity Expenses: ₹5,915.81
  • Depreciation and Amortisation Expenses: ₹9,550.80 (includes accelerated depreciation of ₹462.48)
  • Other Expenses: ₹22,463.07
  • Total Expenses: ₹62,276.10

Profitability:

  • Profit before exceptional items, tax and share of profit/(loss) of associates: ₹49,239.77 vs ₹40,720.92 (Q1 FY26) - 20.9% increase
  • Exceptional Item: Nil (compared to ₹399.46 loss in Q4 FY26)
  • Profit before tax and share of profit/(loss) of associates: ₹49,239.77
  • Tax Expense: ₹9,885.02
  • Net Profit after tax for the period: ₹39,354.75
  • Add: Share in Profits/(loss) of Associates: ₹96.07
  • Net Profit after tax & Share of profit/(loss) of associates: ₹39,450.82
  • Other Comprehensive Income/(loss): ₹1,656.10
  • Total Comprehensive Income for the period: ₹41,106.92

Attribution:

  • Net Profit attributable to Owners of the Company: ₹29,686.33 vs ₹24,068.64 (Q1 FY26) - 23.3% increase
  • Net Profit attributable to Non-controlling interest: ₹9,764.49
  • Total comprehensive income attributable to Owners of the Company: ₹31,342.43
  • Total comprehensive income attributable to Non-controlling interest: ₹9,764.49

Capital Structure:

  • Paid-up equity share capital: ₹7,152.81
  • Basic EPS (After exceptional item): ₹8.30 vs ₹6.73 (Q1 FY26)

Segment Performance (Consolidated, ₹ in Lakhs)

Segment Revenue:

  • Property & Related Services: ₹89,568.65 (83.4% of total)
  • Hospitality Services: ₹18,459.12 (17.2% of total)
  • Residential Business: ₹334.65 (0.3% of total)
  • Total: ₹1,08,362.42
  • Less: Inter Segment Revenue: ₹868.02
  • Revenue From Operation: ₹1,07,494.40

Segment Profit Before Tax & Interest:

  • Property & Related Services: ₹50,899.61
  • Hospitality Services: ₹4,893.50
  • Residential Business: ₹(1,190.52)

Segment Assets:

  • Property & Related Services: ₹18,00,476.81 (77.9% of total)
  • Hospitality Services: ₹85,148.89 (3.7% of total)
  • Residential Business: ₹79,479.53 (3.4% of total)
  • Unallocated: ₹3,46,590.55 (15.0% of total)
  • Total Segment Assets: ₹23,11,695.78

Notes to Financial Results

1. The results were reviewed by the Audit Committee and approved by the Board of Directors on July 28, 2026.

2. Exceptional Items:

  • For standalone: During FY26, the Company recognized exceptional losses of ₹2,948.97 Lakhs (₹443.47 Lakhs in Q4 FY26 and ₹2,505.50 Lakhs in Q3 FY25) towards impairment of investments in subsidiaries and an associate.
  • For consolidated: During FY26, the Group recognized exceptional losses of ₹2,898.21 Lakhs (₹399.46 Lakhs in Q4 FY26 and ₹2,498.75 Lakhs in Q3 FY25) towards impairment of goodwill from past acquisitions.

3. ESOP Allotment: During the quarter, the Company allotted 5,844 equity shares of ₹2 each pursuant to exercise of options under ESOP scheme 2018, increasing paid-up capital to ₹7,152.81 Lakhs.

4. Accelerated Depreciation: The Company charged accelerated depreciation of ₹462.48 Lakhs during the quarter for a portion of a mall building proposed to be demolished and redeveloped.

5. Segment Reporting: The Group has three reportable segments: Property & related services, Hospitality services, and Residential Business.

6. Subsidiaries and Associates: As of June 30, 2026, the Company has 43 subsidiaries and 5 associates. The consolidated results include financials of 37 subsidiaries reviewed by other auditors and 2 associates reviewed by other auditors. One associate's results were unaudited but considered immaterial.

7. Emphasis of Matter: The auditor noted that consolidated results include financials of one subsidiary (Savannah Phoenix Private Limited) not prepared on a going concern basis, with assets and liabilities recognized at realizable/expected settlement values.