The Phoenix Mills Limited, owned by the Ruia family, was incorporated on January 27, 1905, and began operations as a textile manufacturing company on 17.3 acres of land at Lower Parel in Mumbai. Over the decades, Phoenix Mills has transformed into a significant player in the real estate sector, particularly known for developing large-format retail malls, commercial spaces, and hospitality projects. The company is presently involved in the development and leasing of commercial and retail space.
Phoenix Mills Limited (PML) is a leading retail-led mixed-use developer in India, with a strong presence across various cities. Phoenix Mills operates through multiple verticals, with retail being the core of its business. The company is known for its "Phoenix Marketcity" brand, which is synonymous with luxury retail spaces. Led by the dynamic Managing Director, Mr. Atul Ruia, and a dedicated team of professionals, The Phoenix Group is set to redefine lifestyle in Indian cities.
PML's business model revolves around acquiring prime land, developing it into world-class retail spaces, and then managing these properties to generate rental income. The Group has been a pioneer in converting mill land into modern, multi-use integrated property. The group's development plan includes converting land underlying abandoned mills into modern, multi-use, integrated property. The group is involved in all aspects of development, including planning, construction, and marketing, as well as management, maintenance, and sales of the complete development.
The company operates through three primary segments:
* The Property and related services segment, which derives maximum revenue, provides mall/office areas on a license basis and development of commercial/residential properties.
* The Hospitality segment engages in the operation of hotels and restaurants.
* The Residential Business segment includes the sale of residential properties.
Phoenix Mills' malls are spread across major cities such as Mumbai, Bangalore, Pune, and Chennai. The company's flagship property is the High Street Phoenix mall in Mumbai, which is spread over 3.3 million square feet and features over 500 retail stores, restaurants, cafes, and entertainment options. Phoenix Mills' other major retail properties include Phoenix Marketcity malls in Mumbai, Pune, Bangalore, and Chennai, which are some of the largest and most popular shopping destinations in their respective cities.
The company's retail arm operates a portfolio of over 300 brands across its malls and retail outlets. Its popular brands include Nike, H&M, Zara, Adidas, Puma, Sephora, Lifestyle, Westside, Pantaloons, Central, and Shoppers Stop. Phoenix Mills Ltd also operates a number of food and beverage outlets, entertainment centers, and amusement parks.
As of March 2025, Phoenix Mills Ltd has a market capitalization of ₹55,373 Crore. Promoter holding in Phoenix Mills Ltd has decreased slightly to 47.26% as of March 2025 from 47.27% as of September 2024.
Key Financial Highlights:
* Q4 FY25 Results: On a consolidated basis, Phoenix Mills Ltd reported a profit of ₹346.51 Crore on a total income of ₹1,061.48 Crore for the quarter ended 2025.
* Annual Performance FY25: For the full year, net profit declined 10.46% to ₹984.23 Crore in the year ended March 2025 as against ₹1,099.21 Crore during the previous year ended March 2024. Sales declined 4.13% to ₹3,813.57 Crore in the year ended March 2025 as against ₹3,977.69 Crore during the previous year ended March 2024.
* Q4 FY25 Quarter (Standalone): Net profit of Phoenix Mills declined 17.72% to ₹268.82 Crore in the quarter ended March 2025 as against ₹326.73 Crore during the previous quarter ended March 2024. Sales declined 22.18% to ₹1,016.34 Crore in the quarter ended March 2025 as against ₹1,305.95 Crore during the previous quarter ended March 2024.
The Phoenix Mills Ltd's 52-week high share price is ₹2,068.15 and 52-week low share price is ₹1,340.00. Over the last 3 years, Phoenix Mills Ltd share price moved up by 160.34% on BSE. The stock hit a record high of ₹2068.15 on July 18, 2024. The stock hit a 52-week low of ₹1340 on October 28, 2024.
The company has shown resilience in its long-term performance despite some quarterly fluctuations. Despite the decline, revenue rose significantly from ₹2,818.90 Crore in 2021 to ₹4,819.96 Crore in 2025, with net profit increasing from ₹608.66 Crore to ₹827.33 Crore in the same period.
Real estate developer The Phoenix Mills Ltd. has appointed Sanjeev Sarin as Retail Operations Director – North India, strengthening the company's leadership team as it expands its retail footprint across the region. In his new role, Sarin will oversee the operational strategy and performance of all Phoenix Mills properties in North India, including landmark centers such as Phoenix Palassio in Lucknow and Phoenix United in Lucknow and Bareilly.
Phoenix Mills has been aggressive in expanding its footprint across India. The company follows a strategy of identifying high-potential urban centers and developing large-scale projects that cater to the growing demand for organized retail and commercial spaces.
Analysts have set a Phoenix Mills Ltd target price of ₹1745.89, indicating a slight upside of 7.82% compared to the current price of ₹1619.3, according to 18 analyst ratings. The company's focus on retail-led mixed-use developments positions it well to benefit from India's growing consumption story and urbanization trends.
Phoenix Mills continues to be a significant player in India's retail real estate sector, with its established portfolio of premium retail destinations and strategic expansion plans across major Indian cities. The company's ability to adapt to changing retail dynamics while maintaining its premium positioning makes it an interesting proposition for investors seeking exposure to India's retail and real estate sectors.
