April 30, 2025
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 660
CIN No. : L17100MH1905PLC000200
BSE Limited National Stock Exchange of India Limited
Phiroze Jeejeebhoy Towers Exchange Plaza,
Dalal Street, Fort, Bandra-Kurla Complex, Bandra East,
Mumbai- 400 001 Mumbai- 400051
Security code: 503100 Symbol: PHOENIXLTD
Dear Sir(s),
Sub: Investors' Presentation on Audited Standalone and Consolidated Financial Results for the quarter and financial year ended March 31, 2025
Pursuant to Regulation 30 read with Para A of Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ('Listing Regulations'), we enclose herewith the presentation on Audited Standalone and Consolidated Financial Results of The Phoenix Mills Limited ('Company') for the quarter and financial year ended March 31, 2025, to be made to investors and analysts.
The same is also being uploaded on the Company's website at https://www.thephoenixmills.com/investors/FY2025/Investor-Presentation in compliance with Regulation 46(2) of the Listing Regulations.
You are requested to take the aforesaid information on record. Thanking you,
Yours Faithfully,
For The Phoenix Mills Limited
BHAVIK MANILAL GALA
Bhavik Gala
Digitally signed by BHAVIK MANILAL GALA
Date: 2025.04.30
19:32:20 +05'30'
Company Secretary Membership No. F8671
Encl:- As below
Regd. Office: The Phoenix Mills Ltd., 462 Senapati Bapat Marg, Lower Parel, Mumbai 400 013. Tel : (022) 2496 4307 / 8 / 9
Fax : (022) 2493 8388 E-mail : info@thephoenixmills.com https://www.thephoenixmills.com
Phoenix Mall of Asia and Phoenix Asia Towers, Bengaluru
The Phoenix Mills Ltd.
Investor Presentation
Q4 and FY25 1
Core Businesses (Retail, Offices, Hotel)
Revenue from operations
Rs. 3,507 cr
Up 16% vs FY24
Operating EBITDA
Rs. 2,111 cr
Up 16% vs FY24
Consolidated Group Performance
Revenue from operations
Rs. 3,814 cr
Down 4% vs FY24
Operating EBITDA
Rs. 2,161 cr
Flat vs FY24
Core Businesses (Retail, Offices, Hotel)
Revenue from operations
Rs. 894 cr
Up 8% vs Q4 FY24
Operating EBITDA
Rs. 510 cr
Up 4% vs Q4 FY24
Consolidated Group Performance
Revenue from operations
Rs. 1,016 cr
Down 22% vs Q4 FY24
Operating EBITDA
Rs. 560 cr
Down 11% vs Q4 FY24
Photo shot at location
Business Update
Business Performance - Retail
Financial Results Annexure
Phoenix Mall of the Millennium 4
FY25 Retail Rental Income
FY25 Retail EBITDA
FY25
Consumption
Rs. 1,951 cr
Overall Growth: 18%
Rs. 2,010 cr
Overall Growth: 20%
Rs. 13,750 cr
Overall Growth: 21%
Q4 FY25 Retail Rental Income
Q4 FY25 Retail EBITDA
Q4 FY25
Consumption
Rs. 3,248 cr
Overall Growth: 15%
Rs. 499 cr
Overall Growth: 11%
Rs. 482 cr
Overall Growth: 8%
Total consumption in FY25 stood at ~Rs. 13,750 cr, demonstrating a YoY growth of 21% over FY24.
Gross retail collections* stood at ~Rs. 3,310 cr in FY25, with a growth of 22% over FY24.
FY25 Consumption (Rs. cr)
Growth over FY24 | - -1% 7% 3% 7% 14% 65% 13% 7% 6% 2,233 1,856 1,727 1,501 1,215 1,197 760 528 237 221 | 244% 287% Strong ramp up in consumption in the newly launched malls 1,140 1,134 | |
Phoenix PMC PMC Pune PMC & PMC Mumbai Phoenix Palladium Phoenix PU Bareilly PU Lucknow Palladium Bangalore Palladium Palassio Ahmedabad Citadel Chennai | Phoenix Mall Phoenix Mall of the of Asia Millennium |
Total consumption in Q4 FY25 stood at ~Rs. 3,248 cr, demonstrating a YoY growth of 15% over Q4 FY24.
Gross retail collections* stood at ~Rs. 834 cr in Q4 FY25, with a growth of 6% over Q4 FY24.
Q4 FY25 Consumption (Rs. cr)
Growth over Q4 FY24 | 5% -2% 7% 1% 10% 4% 33% 10% 4% 2% 540 412 394 343 282 275 191 122 60 53 | 85% 92% Strong ramp up in consumption in the newly launched malls 284 292 | |
Phoenix PMC PMC Pune PMC & Phoenix PMC Mumbai Palladium Phoenix PU Bareilly PU Lucknow Palladium Bangalore Palladium Palassio Ahmedabad Citadel Chennai | Phoenix Mall Phoenix Mall of the of Asia Millennium |
Consumption Contribution | Trading Area Mix | YoY Consumption Growth | ||
Fashion & Accessories | 55% | 61% | 7% | |
Jewellery | 13% | 1% | 19% | |
Electronics | 11% | 3% | 6% | |
Food & Beverages | 9% | 10% | 4% | |
Others | 5% | 4% | 6% | |
FEC & Multiplex | 4% | 15% | 12% | |
Gourmet & Hypermarket | 3% | 5% | 3% |
Q4 FY25 - Consumption across entire spectrum of discretionary wallet spend
Excluding Phoenix Mall of the Millennium and Phoenix Mall of Asia
Like to Like Growth: 8%
Name of Asset | FY25 | FY24 | % growth |
Retail Rental Income | Retail Rental Income | ||
(Rs. cr) | (Rs. cr) | ||
Phoenix Palladium Mumbai | 394 | 383 | 3% |
Phoenix MarketCity Bangalore | 206 | 201 | 2% |
Phoenix MarketCity Pune | 218 | 211 | 4% |
Phoenix MarketCity and Palladium Chennai | 225 | 212 | 6% |
Phoenix MarketCity Mumbai | 179 | 165 | 8% |
Phoenix Palassio Lucknow | 143 | 133 | 8% |
Phoenix United Lucknow | 34 | 34 | -1% |
Phoenix United Bareilly | 26 | 25 | 5% |
Phoenix Citadel Indore (operational from Dec-22) | 89 | 89 | 0% |
Palladium Ahmedabad (operational from Feb-23) | 122 | 85 | 44% |
Phoenix Mall of the Millennium Pune (operational from Sep-23) | 149 | 65 | NC |
Phoenix Mall Asia Bangalore (operational from Oct-23) | 166 | 56 | NC |
Grand Total | 1,951 | 1,660 | 18% |
FY25 FY24
Name of Asset Retail Rental Income Retail Rental Income % growth (Rs. cr) (Rs. cr)
Phoenix Palladium Mumbai 394 383 3%
Phoenix MarketCity Bangalore 206 201 2%
Phoenix MarketCity Pune 218 211 4%
Phoenix MarketCity and Palladium Chennai 225 212 6%
Phoenix MarketCity Mumbai 179 165 8%
Phoenix Palassio Lucknow 143 133 8%
Phoenix United Lucknow 34 34 -1%
Phoenix United Bareilly 26 25 5%
Phoenix Citadel Indore (operational from Dec-22) 89 89 0%
Palladium Ahmedabad (operational from Feb-23) 122 85 44% Phoenix Mall of the Millennium Pune (operational from Sep-23) 149 65 NC Phoenix Mall Asia Bangalore (operational from Oct-23) 166 56 NC
Grand Total 1,951 1,660 18%
Name of Asset | FY25 | FY24 | % growth |
Retail EBITDA | Retail EBITDA | ||
(Rs. cr) | (Rs. cr) | ||
Phoenix Palladium Mumbai | 401 | 399 | 0% |
Phoenix MarketCity Bangalore | 220 | 209 | 5% |
Phoenix MarketCity Pune | 243 | 221 | 10% |
Phoenix MarketCity and Palladium Chennai | 244 | 226 | 8% |
Phoenix MarketCity Mumbai | 189 | 166 | 14% |
Phoenix Palassio Lucknow | 148 | 138 | 7% |
Phoenix United Lucknow | 33 | 32 | 4% |
Phoenix United Bareilly | 26 | 26 | 1% |
Phoenix Citadel Indore (operational from Dec-22) | 83 | 85 | -1% |
Palladium Ahmedabad (operational from Feb-23) | 109 | 67 | 62% |
Phoenix Mall of the Millennium Pune (operational from Sep-23) | 142 | 56 | NC |
Phoenix Mall Asia Bangalore (operational from Oct-23) | 171 | 49 | NC |
Grand Total | 2,010 | 1,673 | 20% |
Name of Asset | Q4 FY25 | Q4 FY24 | % growth |
Retail Rental Income | Retail Rental Income | ||
(Rs. cr) | (Rs. cr) | ||
Phoenix Palladium Mumbai | 99 | 93 | 6% |
Phoenix MarketCity Bangalore | 51 | 48 | 7% |
Phoenix MarketCity Pune | 54 | 53 | 2% |
Phoenix MarketCity and Palladium Chennai | 56 | 54 | 3% |
Phoenix MarketCity Mumbai | 44 | 43 | 3% |
Phoenix Palassio Lucknow | 36 | 35 | 4% |
Phoenix United Lucknow | 8 | 8 | 0% |
Phoenix United Bareilly | 7 | 7 | 4% |
Phoenix Citadel Indore (operational from Dec-22) | 17 | 19 | -10% |
Palladium Ahmedabad (operational from Feb-23) | 32 | 21 | 56% |
Phoenix Mall of the Millennium Pune (operational from Sep-23) | 38 | 31 | 22% |
Phoenix Mall Asia Bangalore (operational from Oct-23) | 39 | 33 | 20% |
Grand Total | 482 | 445 | 8% |
Name of Asset | Q4 FY25 | Q4 FY24 | % growth |
Retail EBITDA | Retail EBITDA | ||
(Rs. cr) | (Rs. cr) | ||
Phoenix Palladium Mumbai | 99 | 99 | 1% |
Phoenix MarketCity Bangalore | 56 | 52 | 8% |
Phoenix MarketCity Pune | 62 | 56 | 11% |
Phoenix MarketCity and Palladium Chennai | 61 | 54 | 13% |
Phoenix MarketCity Mumbai | 48 | 46 | 4% |
Phoenix Palassio Lucknow | 36 | 35 | 0% |
Phoenix United Lucknow | 9 | 8 | 10% |
Phoenix United Bareilly | 7 | 7 | 1% |
Phoenix Citadel Indore (operational from Dec-22) | 15 | 19 | -22% |
Palladium Ahmedabad (operational from Feb-23) | 26 | 16 | 66% |
Phoenix Mall of the Millennium Pune (operational from Sep-23) | 39 | 29 | 33% |
Phoenix Mall Asia Bangalore (operational from Oct-23) | 41 | 28 | 48% |
Grand Total | 499 | 448 | 11% |
Trading occupancy
87%
Mar-24
91%
Mar-25
Growth in trading occupancy led by
Palladium Ahmedabad 86%
Mar-24
Phoenix Mall of the Millennium 76%
Mar-24
Phoenix Mall of Asia 57%
Mar-24
95%
Mar-25
92%
Mar-25
83%
Mar-25
Indicative Render
Unparalleled experiences across 250,000 sq. ft. of gross leasable area5 levels of Retail | Curated F&B offering | Entertainment and more | Additional car parks
Photo shot at location
Photo shot at location
Photo shot at location
Largest Uniqlo in Mumbai
India's first Bershka
Photo shot at location
Photo shot at location
Lifestyle in a new avatar
Celio's Flagship Store
Photo shot at location
Photo shot at location
More stores, more flavours coming soon
Photo shot at location
Photo shot at location
17
Indicative Render
18
Gourmet Village - planned across 2 levels, 18 outlets
Opening soon
Indicative Render
Business Update
Business Performance - Commercial
Financial Results Annexure
Millennium Towers, Pune
19
Total Income
FY25 Rs. 210 Cr
10% growth over FY24
EBITDA
FY25 Rs. 131 Cr
19% growth over FY24
~4 msft
Under
Development
20
WALE - Above 3 Years
3 Years +
Max tenure -
5 Years
Gross Leasing*
~3 Lakh Sq. ft.
*Of which, 1.1 lakh sq. ft. is leasing across new assets in Pune, Bangalore
Industry agnostic front offices
MI XIAOMI HITACHI
NTT GROUP SAVILLS JSW
BAJAJ FINANCE
OnEMI CIPLA
Commercial office business overview
Operational assets: Mumbai, Pune
Asset | Location | Net Leasable Area (msft) | Area Leased (msft) | % area leased | Gross Rent (psfpm)* |
Art Guild House | Mumbai | 0.63 | 0.54 | 86% | 149 |
Phoenix Paragon | Mumbai | 0.31 | 0.15 | 47% | 132 |
Centrium | Mumbai | 0.11 | 0.06 | 59% | 97 |
Phoenix House | Mumbai | 0.11 | 0.05 | 50% | 163 |
FountainHead | Pune | 0.84 | 0.53 | 63% | 98 |
Total | 1.99 | 1.33 | 67% | 125 | |
Gross leasing of ~1.9 lakh sq. ft. in the currently operational assets at Kurla, Mumbai and Vimannagar, Pune during FY25.
Pre-leasing commenced at Phoenix Asia Towers, Bengaluru and Phoenix Millennium Towers, Pune.
Recently received Occupation Certificate (OC) for Phoenix Asia Towers, Bengaluru (GLA of ~0.80 msft) and Tower 3, of
Millenium Towers, Pune (GLA of ~0.52 msft for Tower 3)
* Gross rent includes CAM and Property Tax. 21
Operational Portfolio | Total Income (Rs. cr) | EBITDA (Rs. cr) | EBITDA as % of Total Income | |||||
Q4 FY25 | Q4 FY24 | Growth (%) | Q4 FY25 | Q4 FY24 | Growth (%) | Q4 FY25 | Q4 FY24 | |
Art Guild House, Mumbai | 25 | 21 | 19% | 18 | 15 | 21% | 74% | 72% |
Phoenix Paragon, Mumbai | 8 | 9 | -7% | 4 | 5 | -9% | 53% | 55% |
The Centrium, Mumbai | 3 | 4 | -6% | 2 | 2 | 7% | 58% | 51% |
Phoenix House, Mumbai | 2 | 3 | -14% | Part of Phoenix Palladium | NA | NA | ||
Fountainhead, Pune | 15 | 14 | 9% | 9 | 9 | 4% | 60% | 63% |
Total | 53 | 49 | 8% | 33 | 30 | 10% | 62% | 61% |
•
•
Income from commercial offices in Q4 FY25 stood at Rs. 53 cr, up 8% over Q4 FY24
EBITDA stood at Rs. 33 cr, up 10% over Q4 FY24
Operational Portfolio | Total Income (Rs. cr) | EBITDA (Rs. cr) | EBITDA as % of Total Income | |||||
FY25 | FY24 | Growth (%) | FY25 | FY24 | Growth (%) | FY25 | FY24 | |
Art Guild House, Mumbai | 94 | 83 | 14% | 68 | 56 | 21% | 72% | 68% |
Phoenix Paragon, Mumbai | 34 | 33 | 2% | 18 | 17 | 6% | 52% | 50% |
The Centrium, Mumbai | 14 | 12 | 15% | 8 | 6 | 28% | 58% | 52% |
Phoenix House, Mumbai | 10 | 13 | -24% | Part of Phoenix Palladium | NA | NA | ||
Fountainhead, Pune | 58 | 49 | 18% | 37 | 31 | 19% | 64% | 64% |
Total | 210 | 190 | 10% | 131 | 110 | 19% | 62% | 58% |
•
•
Income from commercial offices in FY25 stood at Rs. 210 cr, up 10% over FY24
EBITDA stood at Rs. 131 cr, up 19% over FY24
~1.30 msft of prime commercial offices (across three towers)
OC received for Tower 3 (~0.52 msft)
Pre-leasing commenced
Upcoming metro ~1 km away
Host of world class amenities
Indicative render
GLA of ~0.80 msft
Upcoming metro landing within the campus
Preleasing commenced
Host of world class
amenities
Indicative render
GLA: ~0.60 msft
Indicative Render
Creating the Complete Office: From Collaboration to Recreation
Lounges | Board Rooms | Meeting Rooms | Library | Event Spaces | ||||||
Café | Gym | Pool Table | Games Room | Creche |
Indicative Render
Indicative Render
The perfect backdrop for conversations, collaborations, and community
Workspaces designed for every ambition
POWER ROOMSBoardrooms for decision makers who choose to be different
Indicative Render 29