The Phoenix Mills share price: The Phoenix Mills share price gained up to 6.02 per cent to hit an intraday high of Rs 1,756.50 per share on Wednesday, October 9, 2024.
The rise in The Phoenix Mills share price came after the company reported a strong set of September quarter (Q2FY25) and first half of financial year 2025 (H1FY25) business update.
Q2FY25 update
In Q2FY25, the company reported retailer sales (consumption) of Rs 3,289 crore, reflecting a 25 per cent increase over Q2FY24, with gross retail collections reaching approximately Rs. 812 crore, a rise of 27 per cent year-on-year.
H1FY25 update
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For H1FY25, retailer sales totaled around Rs 6,506 crore, also up 25 per cent from H1FY24, driven by strong performances at Phoenix Palassio and Phoenix MarketCity Mumbai, as well as the ramp-up of newly launched malls. Gross retail collections for H1FY25, meanwhile, stood at about Rs 1,610 crore, up 29 per cent compared to the same period last year.
As of September 2024, the weighted average trading occupancy across major malls was 92 per cent, with a weighted average leased occupancy of 96 per cent.
Notably, the newly launched Phoenix Mall of Asia, which opened in October 2023, achieved 78 per cent occupancy in September 2024, up from 72 per cent in June 2024, while the Phoenix Mall of the Millennium, launched in September 2023, reached 87 per cent occupancy, increasing from 80 per cent in June 2024.
Phoenix Mills financial performance
Phoenix Mills’ profit fell 3.3 per cent on a year-on-year (Y-o-Y) basis to Rs 232.5 crore in the June quarter of financial year 2025 (Q1FY25), from Rs 240.5 crore in the June quarter of financial year 2024 (Q1FY24). The revenue from operations, or topline, surged 11.5 per cent to Rs 904.1 crore in the June quarter of FY25, from Rs 810.6 crore in the June quarter of FY24.
Phoenix Mills Ltd, founded by the Ruia family on January 27, 1905, originally began as a textile manufacturing company. Its first operations were established on 17.3 acres of land in Lower Parel, Mumbai, focusing on cotton textile production.
At 10:55 AM, shares of Phoenix Mills were trading 5..57 per cent higher at Rs 1,749 per share. In comparison, BSE Sensex was trading 0.73 per cent higher at 82,232.72 levels.