On a like-for-like basis, excluding Phoenix Mall of the Millennium and Phoenix Mall of Asia, consumption grew by 10% year-on-year.
Consumption for the quarter was driven by a strong festive season, led by PMC Mumbai, PMC Pune, Phoenix Palassio, and the continued ramp-up at Phoenix Mall of the Millennium and Phoenix Mall of Asia (launched in September and October 2023, respectively).
On a nine-month basis, the company’s consumption totaled approximately Rs 10,504 crore in 9M FY25, marking a 23% increase compared to 9M FY24. On a like-for-like basis, excluding Phoenix Mall of the Millennium and Phoenix Mall of Asia, consumption grew by 8% year-on-year.
The expansion at Phoenix Palladium, Mumbai, was recently completed, adding approximately 250,000 square feet of gross leasable area to this asset. The new annex building houses a diverse range of retail stores, including Uniqlo, Lifestyle, Celio, Ecco, and San-Cha Tea, among others. These stores were launched in phases throughout November and December 2024, with more store launches planned for the upcoming quarters.
The Phoenix Mills is India's largest retail led mixed-use developer. Its operations span across most aspects of real estate development; planning, execution, marketing, management, maintenance & sales. The group has real estate assets in Mumbai, Bengaluru, Chennai, Pune, Raipur, Agra, Indore, Lucknow, Bareilly & Ahmedabad.
The company reported 13.7% decline in consolidated net profit to Rs 218.10 crore on 4.9% increase in net sales to Rs 917.97 crore in Q2 FY25 over Q2 FY24.