The Phoenix Mills Limited has released its operational business update for the fourth quarter and full financial year ended March 31, 2025. The company reported robust performance across its retail, commercial, hospitality, and residential verticals.
Retail Performance
In the retail segment, total consumption across all operational malls reached approximately Rs. 3,262 crore in Q4 FY25, marking a 15% increase compared to Q4 FY24. The growth was driven by strong performance at Phoenix Palassio and the ramp-up of recently launched assets—Phoenix Mall of the Millennium (September 2023), Phoenix Mall of Asia (October 2023), and the Phoenix Palladium Expansion (November 2024). For the full year FY25, total consumption stood at around Rs. 13,762 crore, reflecting a 21% year-on-year increase. On a like-to-like basis, excluding the two newly launched malls, consumption rose by 7%.
Commercial Office Space
In the commercial office segment, Phoenix Mills completed gross leasing of approximately 1.90 lakh square feet during FY25 across its operational assets in Mumbai and Vimannagar, Pune. Occupancy in these locations stood at 66% as of March 2025. The company also received Occupation Certificates for Phoenix Asia Towers in Bangalore, with a gross leasable area (GLA) of around 0.80 million square feet, and for Tower 3 of Millenium Towers in Pune, with a GLA of approximately 0.52 million square feet.
Hospitality Segment
The hospitality segment showed improvement across key metrics. The St. Regis, Mumbai, achieved 92% occupancy in Q4 FY25, up from 88% in Q4 FY24. Average room rate (ARR) rose to Rs. 23,542, an increase of 11% year-on-year, while revenue per available room (RevPAR) climbed to Rs. 21,541, up 15%. For the full year FY25, occupancy was at 86%, ARR was Rs. 19,958 (up 9%), and RevPAR stood at Rs. 17,232 (up 13%).
At the Courtyard by Marriott in Agra, Q4 FY25 occupancy was 87%, compared to 88% in the same quarter last year. ARR increased to Rs. 6,977, a 10% rise, and RevPAR reached Rs. 6,105, up 9%. For FY25, occupancy was 75%, ARR was Rs. 5,749 (up 9%), and RevPAR came in at Rs. 4,488, showing a 6% increase over FY24.
Residential Sales
In the residential segment, Phoenix Mills reported gross residential sales of approximately Rs. 77 crore and collections of around Rs. 54 crore in Q4 FY25. For the entire financial year, gross sales stood at approximately Rs. 212 crore, with collections of about Rs. 219 crore.