The Phoenix Mills Limited

The Phoenix Mills Limited informed the BSE Limited and National Stock Exchange of India Limited that the National Company Law Tribunal, Chennai Bench, has approved the Scheme of Merger and Amalgamation between Coimbatore Sameera Investments Private Limited, Dhanalakshmi Engineering Private Limited, Pulankinar Investment and Finance Private Limited, Shanthi Chandran Enterprisers Private Limited, Shanthi Chandran Investments Coimbatore Private Limited and Sheela Traders Private Limited, step down subsidiaries of The Phoenix Mills Limited, with Astrea Real Estate Developers Private Limited, a subsidiary of The Phoenix Mills Limited.

The Phoenix Mills Limited announced that its Compensation Committee approved the allotment of 14,139 equity shares with a face value of Rs 2 each to grantees upon exercise of stock options under The Phoenix Mills Limited - Employees’ Stock Option Plan 2018, increasing the company’s paid-up equity share capital from Rs 71,53,27,438 to Rs 71,53,55,716.

The Phoenix Mills Ltd. will hold its 121st Annual General Meeting on September 28, 2026, at 02:30 P.M. (IST) via video conferencing, and has recommended a final dividend of Rs 2.50 per equity share, or 125%, for the financial year ended March 31, 2026, subject to shareholder approval. The company has set September 11, 2026, as the record date for determining entitlement to the dividend, which will be paid on or after September 30, 2026, if approved.

Phoenix Mills Ltd announced that India Ratings and Research Private Limited, formerly Fitch Ratings India Private Limited, has upgraded its ratings on the company's bank facilities from IND AA to IND AA+ and affirmed the IND A1+ rating for Commercial Paper, Commercial Paper, and Commercial Paper; the rating rationale published by the Credit Rating Agency is enclosed, and the information is also being uploaded to the company’s website; there were no enhancements, assignments, or withdrawals related to these ratings.

The Phoenix Mills Limited announced that O2 Renewable XXVIII has allotted 2,74,332 equity shares and 24,690 Series B Compulsory Convertible Debentures to the company, and 3,02,568 equity shares and 27,231 Series B Compulsory Convertible Debentures to its subsidiary, Offbeat Developers Private Limited, on August 19, 2026, following an amendment to the Security Subscription and Shareholders’ Agreement; the allotment results in The Phoenix Mills Limited and Offbeat holding a combined 45.00% equity shareholding in O2 Renewable XXVIII.

The Phoenix Mills Limited announced that its subsidiary, Mindstone Mall Developers Private Limited, has allotted 3,50,81,328 equity shares with a face value of Rs 10 each at a premium of Rs 18.50, for a total consideration of Rs 99,98,17,848, to existing shareholders on a rights basis. The Phoenix Mills Limited and CPP Investment Board Private Holdings (4) Inc. continue to hold 51% and 49% stakes, respectively, in Mindstone, with The Phoenix Mills Limited acquiring 1,78,91,477 shares for Rs 50,99,07,094.50.

The Phoenix Mills Limited, along with its subsidiary Offbeat Developers Private Limited, has entered into an amendment to the Security Subscription and Shareholders’ Agreement with JSW Neo Energy Limited and O2 Renewable Energy XXVIII Private Limited to subscribe to equity shares and Series B Compulsory Convertible Debentures, totaling Rs 57,69,00,000, enabling them to qualify as captive users of solar power. The acquisition, which does not constitute a related-party transaction, will allow The Phoenix Mills and Offbeat to meet requirements under The Electricity Act 2003 and The Electricity Rules 2005, with a target shareholding not exceeding 45% in O2 Renewable Energy XXVIII, incorporated on July 31, 2024.

On a year-on-year (YoY) basis, the company's consolidated net profit rose 23.35% to Rs 296.86 crore in Q1 FY27, compared with Rs 240.69 crore in the corresponding quarter last year. Revenue from operations (net sales) stood at Rs 1,074.94 crore in the quarter ended 30 June 2026, down 12.84% QoQ but up 12.80% YoY. Profit before exceptional items, tax and share of profit of associates stood at Rs 492.40 crore in Q1 FY27, down 21.09% QoQ but up 20.92% YoY. There were no exceptional items during the quarter. Operating EBITDA jumped 14% to Rs 642 crore in Q1 FY27 from Rs 564 crore in Q1 FY26. EBITDA margin improved to 60% in Q1 FY27, compared with 59% in Q1 FY26. Total consumption in Q1 FY27 stood at Rs 4,730 crore, demonstrating a YoY growth of 32% over Q1 FY26. 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.Powered by Capital Market - Live

Net profit of Phoenix Mills rose 23.34% to Rs 296.86 crore in the quarter ended June 2026 as against Rs 240.69 crore during the previous quarter ended June 2025. Sales rose 12.80% to Rs 1074.94 crore in the quarter ended June 2026 as against Rs 952.99 crore during the previous quarter ended June 2025. ParticularsQuarter EndedJun. 2026Jun. 2025% Var. Sales1074.94952.99 13 OPM %59.6859.21 - PBDT587.91500.66 17 PBT492.40407.21 21 NP296.86240.69 23 Powered by Capital Market - Live

Phoenix Mills will hold a meeting of the Board of Directors of the Company on 28 July 2026.