Q3 2025 Phoenix Mills Ltd Earnings Call Transcript
Key Points
- Phoenix Mills Ltd (BOM:503100) reported a 14% year-on-year revenue growth and a 21% EBITDA growth in Q3 FY25, showcasing strong performance across its core businesses.
- The company completed a significant expansion at Phoenix Palladium Mumbai, adding 250,000 square feet of leasable area, enhancing its retail offerings.
- Retail consumption surged by 21% year-on-year in Q3 FY25, indicating strong discretionary spending and resilience of premium retail assets.
- The St. Regis Hotel Mumbai achieved an 11% increase in Average Daily Rate (ADR) while maintaining a healthy occupancy rate of 84%, reflecting successful pricing strategies.
- Phoenix Mills Ltd (BOM:503100) has strategically acquired six land parcels totaling 53 acres, providing pipeline visibility up to 2030 and supporting long-term growth plans.
- Unseasonal heavy rains in Bangalore and Chennai negatively impacted consumption, which could have been higher by approximately INR55 crores to INR60 crores in Q3 FY25.
- Occupancy across operational office assets in Mumbai and Pune stood at 70%, indicating potential underutilization of office space.
- The residential business showed slow sales velocity, with a focus on maintaining premium pricing rather than accelerating sales.
- The net sales in the residential segment appeared negative, raising concerns about potential cancellations or timing issues.
- There is a noted slowness in commercial leasing, with efforts being made to enhance office amenities and positioning to attract clients.
Ladies and gentlemen, good day, and welcome to the Q3 and nine months FY25 results conference call of The Phoenix Mills Limited. (Operator Instructions)
Management of the company is being represented by Mr. Shishir Shrivastava, Managing Director; Mr. Kailash Gupta, Group CFO; and Mr. Varun Parwal, Group President, Strategy, Audit, and Head, Corporate Finance. (Operator Instructions) Please note that this conference is being recorded.
At this time, I would like to hand the conference over to Mr. Shishir Shrivastava. Thank you, and over to you, sir.
Thank you, Michelle. Good morning, everyone. We take pleasure in welcoming you all to discuss the operating and financial performance for the third quarter and nine months ended December 2024. It's our privilege to share yet another strong quarter of growth and success with you. Our Q3 FY25 results reflect our unwavering commitment to delivering sustained value for all our stakeholders.
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