Phoenix Mills Records Impressive 24% YoY Growth, Hits Rs 3,287 Crore Quarterly Consumption

11 Jan 2024 , 11:30 AM

Phoenix Mills Ltd released its Q3 and nine-month business update for the period ending December 31, 2023.The company achieved its highest quarterly consumption at Rs 3,287 crore, showing a 24% YoY growth over the same period in FY23.

Gross retail collections in Q3 FY24 reached Rs 700 crore, marking a substantial 30% increase compared to Q3 FY23.

Q3 consumption witnessed a 4% YoY growth, contributing to the overall positive trend.

Cumulative retail consumption for the first nine months of FY24 amounted to Rs 8,500 crore, demonstrating a robust YoY growth of 21% over the same period in FY23.

In Q2 FY24, Phoenix Mills reported a remarkable 36.92% growth in net consolidated profit, reaching Rs 303.82 crore, a significant increase from Rs 221.89 crore in the corresponding quarter of the previous fiscal year.

The net consolidated total income for Q2 FY24 stood at Rs 906.64 crore, showing a strong growth of 32.65% compared to Rs 683.49 crore reported in the similar quarter last year.

Phoenix Mills operates in various aspects of real estate development, covering planning, execution, marketing, management, maintenance, and sales.

The company holds real estate assets in multiple cities, including Mumbai, Bengaluru, Chennai, Pune, Raipur, Agra, Indore, Lucknow, Bareilly, and Ahmedabad.

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