Phoenix Mills Ltd. · NSE:PHOENIXLTD
Phoenix Mills — The Phoenix Mills — Shareholder Meeting (September 2026)
22 slides from Phoenix Mills's shareholder meeting presentation, Sep 28, 2026
Slide 1: Cover letter to stock exchanges on AGM presentation
Corp. Office: Shree Laxmi Woolen Mills Estate, 2nd Floor, R.R. Hosiery, Off Dr. E. Moses Rd. Mahalaxmi, Mumbai - 400 011 Tel: (022) 3001 6600 Fax : (022) 3001 6601 CIN No. : L17100MH1905PLC000200 September 28, 2026 BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers Exchan
Slide 2: Built to Compound - AGM Presentation September 2026
Photo shot at location Phoenix Avenue of Stars, Pune Earlier known as Phoenix MarketCity Pune THE PHOENIX MILLS LIMITED Built to Compound AGM Presentation September 2026
Slide 3: A Diversified Real Estate Platform Built for Compounding
A Diversified Real Estate Platform Built for Compounding RETAIL OFFICES HOSPITALITY RESIDENTIAL >18 msft ~9 msft ~2,188 keys ~7 msft GLA by 2030 GLA by 2030 Operational by 2030 Cumulative Saleable Area by 2030 Operational: ~11.5 msft Operational: ~5 msft Operational: 2 hotels, ~588 keys Area launche
Slide 4: 26% EBITDA CAGR: Years of Compounding Through Cycles
26% EBITDA CAGR: 20 Years of Compounding Through Cycles EBITDA (Rs. Cr) CAGR 2,637 26% 778 263 26 FY06 FY13 FY18 FY26 Note: Above figures represent the Consolidated EBITDA of PML Group. 3
Slide 5: FY26: Strong Performance with Balance Sheet Discipline
FY26: Strong Performance with Balance Sheet Discipline Consolidated Revenue (FY26) Consolidated EBITDA (FY26) Rs. 4,423 Cr ↑ 16% Year on Year Rs. 2,637 Cr ↑ 22% Year on Year Consolidated Net Profit1 (FY26) Operating Free Cash Flow2 (as of 31-Mar-26) Rs. 1,224 Cr ↑ 24% Year on Year Rs. 2,140 Cr ↑ 23%
Slide 6: Retail Business Overview
Retail Business Overview Operational: 12 Malls | 11+ msft | 8 cities FY26 FY26 Retail FY26 Retail Consumption Rental Income EBITDA Rs. 16,587 cr Rs. 2,157 cr Rs. 2,246 cr Up 21% vs FY25 Up 10% vs FY25 Up 12% vs FY25 5
Slide 7: Q1 FY27 Retail consumption up by premium
Photo shot at location Phoenix MarketCity Pune, is now Phoenix Avenue of Stars, Pune Q1 FY27 Retail consumption up With a new by premium identity, 32% YoY over brand mix, Q1 façade upgraded FY26and more 6
Slide 8: Repositioning Driving Higher Trading Density
Repositioning Driving Higher Trading Density ANCHORS Q1 FY27 PERFORMANCE UNIQLO IKEA MAX Phoenix Avenue of Stars, Pune In a new avatar Rs. 536 cr ↑29% PREMIUM BRANDS MICHAEL BOSS COACH KORS Rs. 2,465 pspm ↑26% VICTORIA’s SEIKO ETHOS SECRET F&B BRANDS Rs. 60 cr ↑13% POPEYES PAUL 7
Slide 9: Commercial Office Business Overview
Commercial Office Business Overview Premium Workspaces Across India’s Growth Cities Operational (FY26): 7 Offices | ~4.8 msft | 4 cities Mar-26 FY26 Total FY26 Occupancy (%) Income* EBITDA* 70% Rs. 213 cr Rs. 141 cr Up 6% vs FY25 Up 7% vs FY25 Offices Completed in 2025: One National Park, Millennium
Slide 10: Offices launched during 2025
Offices launched during 2025 Millennium Towers, Pune Phoenix Asia Towers, Bengaluru One National Park, Chennai GLA: ~1.46 msft GLA: ~0.82 msft GLA: ~0.60 msft Grade A Offices Integrated Campus Design Future-Ready Workspaces Strategically integrated with destination Synergistic environments that blen
Slide 11: Hotels: Growing Cash Flows, Strengthening Ecosystem
Hotels: Growing Cash Flows, Strengthening Ecosystem The St. Regis, Mumbai The St. Regis Mumbai | Courtyard By Marriott, Agra 588 keys Rs. 596 Cr FY26 Operating Income Up 8% vs FY25 Rs. 276 Cr FY26 Operating EBITDA Up 14% vs FY25 Photo shot at location 10
Slide 12: One Bangalore West and Kessaku: Luxury Living in Bengaluru
One Bangalore West and Kessaku Luxury Living in Bengaluru One Bangalore West Rs. 471 Cr FY26 Gross Bookings Rs. 467 Cr FY26 Collections ~Rs. 28,600 psf FY26 Average Sales Price Indicative Render 11
Slide 13: Phoenix Grand Victoria Kolkata: East India's retail destination
Phoenix Grand Victoria Kolkata: East India’s retail destination Expected Completion: 2027 Indicative Render Retail GLA: ~1 msft 12
Slide 14: Our Second Retail Destination in Gujarat, at Surat
Our Second Retail Destination in Gujarat, at Surat Expected Completion: 2027 Indicative Render Retail GLA: ~1 msft 13
Slide 15: Investing back into the core
Investing back into the core Expansion of Phoenix Palladium Artist’s Impression Rise Offices (~1.60 msft) + Retail (~0.50 msft) The St. Regis, Mumbai 395 Keys | 9 F&B Venues | ~60,000 sq. ft. Banquet Phoenix Palladium, Mumbai Current Retail GLA : ~1 msft 14
Slide 16: Making of an icon
Making of an icon Expansion of Phoenix MarketCity Bangalore Artist’s Impression Phase 3: Phase 2 Phase 3: Retail expansion Expansion: Office Expansion GLA- ~0.6 msft Grand Hyatt Hotel GLA ~1.20 msft ~ 400 Keys Phase 2: Retail expansion GLA- ~0.17 msft Phase 3 Expansion: Hotel ~300 Keys Phoenix Marke
Slide 17: Key Projects Moving from Approvals to Execution
Key Projects Moving from Approvals to Execution Thane Coimbatore Chandigarh Bangalore Retail GLA: ~1.30 msft Retail GLA: ~1.70 msft Retail | Office | Hotel Retail GLA: ~1 msft Phase 1 Phase 1 Phase 3 Expansion All approvals secured. Approvals secured. Excavation commenced. Excavation commenced. Exca
Slide 18: From Destination Retail to Integrated Urban Icons
From Destination Retail to Integrated Urban Icons Segments 2026 By 2027 - 2028 By 2030 Retail ~11 msft >14 msft >18 msft Offices ~5 msft ~7 msft ~9 msft Hotels ~588 keys ~988 keys ~2,188 keys Residential^ ~3.5 msft ~4.5 msft ~7 msft GLA is an estimate based on current plans and market/company norms
Slide 19: Disciplined Growth, Stronger Balance Sheet
Disciplined Growth, Stronger Balance Sheet Mar-18 Mar-26 Change Amount Rs. cr EBITDA 778 ~3 x 2,637 + 1,859 Gross Block* 6,834 ~3 x 23,049 + 16,215 Net Debt 3,922 3,160 - 762 Refers to Fixed Assets + CWIP 18
Slide 20: Acquisition of CPP Investments' Stake in ISMDPL
Acquisition of CPP Investments’ Stake in ISMDPL Buyout progressing as planned THE ISMDPL PLATFORM Phoenix MarketCity Bangalore + High-Quality Expansion 51% ➔ 100% High-Growth PML Ownership in ISMDPL Phoenix Mall of Asia + Phoenix Platform of Marquee malls, is moving to 100% Asia Towers, Bengaluru of
Slide 21: Sustainability Updates
Sustainability Updates Certifications Achieved Initiatives^ USGBC LEED Gold Certification Renewable energy through offsite solar plant EV Charging / rooftop Stations USGBC LEED Platinum Certification Smart Building Management Systems Tie ups with Professional STP-based water USGBC LEED Platinum Pre-
Slide 22: Thank You
wW Thank You 21
The Phoenix Mills — Shareholder Meeting (September 2026) on 6ix