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Developer The Phoenix Mills Ltd reported a consolidated net profit of INR 303.99 crore in the recent quarter, up 39 % from INR 218.09 crore a year earlier. Total income rose to INR 1,146.21 crore from INR 955.06 crore in the same quarter of the previous year. The firm, which specialises in retail-led mixed-use developments spanning malls, offices, hospitality and residences, benefited from stronger leasing and consumption trends. The result reflects momentum in its business model amid improving real-estate demand.
The Phoenix Mills Ltd posted a consolidated net profit of INR 303.99 crore for the second quarter of the current fiscal year, representing a 39 % increase compared with INR 218.09 crore in the same quarter of the previous year. Advertisement
Total income in this quarter reached INR 1,146.21 crore, up from INR 955.06 crore in the year-ago period, showing a strong growth in revenue.
The company operates in the development of retail-led mixed-use projects, with assets in malls, commercial offices, hospitality and residential across major Indian cities.
In prior years, Phoenix Mills shifted from its historical roots in textiles into the real-estate sector, particularly focusing on large shopping malls and commercial hubs, and has in recent times expanded into hospitality and residential segments. This background gives context to its current performance.
The uptick in income and profit likely reflects stronger consumer spending, higher mall footfall and improved leasing performance across its property portfolio. Additionally, cost control measures and operational efficiencies may have contributed to lifting the net result.
The result provides a positive sign for the company in a market where real-estate developers are grappling with demand fluctuations. That said, sustaining this growth will depend on stable occupancy, retail brand expansion and commercial lease renewals in the coming quarters.
Source PTI
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