The Phoenix Mills jumps as total consumption climbs 25% YoY in Q2 FY25

The Phoenix Mills rallied 4.09% to Rs 1,724.35 after the company said that its total consumption stood at approximately Rs 3,289 crore in Q2 FY25, registering a growth of 25% year on year (YoY).

Gross retail collections jumped 27% YoY to around Rs 812 crore in the quarter ended 30 September 2024.

On half yearly basis, the companys total consumption increased 25% YoY approximately to Rs 6,506 crore, consumption growth was driven by strong performance in Phoenix Palassio and Phoenix MarketCity Mumbai, supported by ramp up in the newly launched malls. Gross retail collections stood at around Rs 1,610 crore, up 29% YoY in H1 FY25.

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 3.3% decline in consolidated net profit to Rs 232.54 crore on 11.5% increase in net sales to Rs 904.14 crore in Q1 FY25 over Q1 FY24.

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