The Phoenix Mills Ltd.

•

thephoenixmills.comBSE: 503100NSE: PHOENIXLTD

Market Cap₹ 67,884 Cr.

Current Price

High / Low₹ 2,170 / 1,466

Stock P/E232.9

Book Value₹ 155

Price to Book9.79

Dividend Yield0.13 %

ROCE6.4 %

ROE5.0 %

Face Value₹ 2

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ABOUT

KEY POINTS

Revenue Breakup Mar 2011 • Property & Related Services: 99.4% • Textile / Cloth Trading: 0.6%

AI Sector View

AI GENERATED

Realty

Buy

Housing and construction indicators remain supportive for real estate. The housing index reached 105 (Mar/26), residential property prices rose 4.21% (Mar/26), construction output was 5.4% (Jul/26), and cement output accelerated to 13.1% YoY (2026-07). Bank lending rates are steady at 8.96% (Aug/26) rather than easing, but FPI flows turned positive with INR 1999 crore net inflow over 3 months to 2026-08-31 from INR -7216 crore previously.

Confidence

75%

View full sector analysis →

PROS

Latest quarter profit grew 51.1% YoY, showing strong momentum
Company has delivered good sales growth of 18.0% CAGR over last 5 years
Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.09x)
Company has been maintaining a healthy dividend payout of 33.0%
Company generates healthy free cash flow
Company has a consistent dividend-paying track record

CONS

Recent results are weak - TTM profit is down 39.4% versus prior year
A large part of profit comes from other income (41.4% of PBT)
Company has a low return on capital employed of 6.9%
Company has a low return on equity of 5.7% over last 3 years
Operating margins have contracted to 65.8% from 80.6%
Company has delivered a poor profit growth of -1.5% over past five years

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

RealtyRealtyConstruction - Real Estate

Part ofNIFTY MIDCAP 150 NIFTY MIDCAP 100 NIFTY 500 NIFTY LARGEMID250 NIFTY TOTAL MKT

S.No.	Name
1.	DLF	656.40	36.55	162479.46	1.22	793.90	-89.59	1280.34	-52.87	6.81	49.68
2.	LODHA	1165.45	28.23	116454.47	0.36	1373.10	103.39	4996.70	43.10	16.89	38.51
3.	PHOENIXLTD	1897.90	53.03	67883.68	0.13	394.51	22.95	1074.94	12.80	15.41	59.77
4.	PRESTIGE	1541.85	58.31	66412.14	0.13	271.40	-12.87	2675.10	15.94	11.51	31.75
5.	OBEROIRLTY	1796.30	24.84	65313.87	0.45	543.51	29.02	1300.89	31.73	17.69	56.75
6.	GODREJPROP	1860.00	35.01	56028.13	0.54	349.38	-41.61	506.17	16.48	8.37	-57.98
7.	ANANTRAJ	613.40	38.15	22074.85	0.16	149.19	18.50	631.40	6.58	12.23	29.53
8.	BRIGADE	662.00	31.08	21598.36	0.23	216.94	37.35	1115.55	-12.93	11.02	32.33
9.	ABREL	1341.65	113.30	14985.65	0.19	-34.59	-27.73	188.85	30.95	-4.54	-30.02
10.	SOBHA	1228.35	56.96	13137.67	0.49	50.85	273.37	1278.15	50.03	6.96	6.07
11.	SIGNATURE	785.75	10.59	11054.40	0.00	-16.53	-148.00	551.99	-36.24	34.77	-8.10
12.	MAXESTATES	547.20	774.04	8950.27	0.00	8.35	-30.00	51.91	0.86	2.05	15.65

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	118	112	120	116	118	116	127	125	126	137	146	135	147
	36	39	42	37	41	43	46	55	44	51	48	43	81
Operating Profit	82	73	77	79	77	72	81	70	82	87	98	92	66
OPM %	69.73%	65.36%	64.59%	68.16%	65.15%	62.50%	63.70%	55.82%	64.99%	63.11%	67.04%	68.03%	45.10%
	6	93	5	5	53	105	14	15	6	95	2	3	6
Interest	16	16	16	16	17	18	19	19	17	16	19	14	14
Depreciation	8	8	8	11	8	9	12	16	22	16	17	15	20
Profit before Tax	64	142	58	57	106	150	65	49	48	150	64	66	73
Tax %	19.74%	11.40%	13.32%	7.84%	9.04%	10.71%	13.62%	-4.65%	14.90%	13.58%	28.09%	16.81%	15.34%
Net Profit	51	126	50	53	96	134	56	52	41	129	46	55	62
	2.87	3.53	1.41	1.46	2.68	3.75	1.56	1.44	1.14	3.62	1.28	1.53	1.72

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	376	397	440	444	238	284	477	466	486	544	566
	123	145	172	185	114	119	156	154	187	186	223
Operating Profit	253	252	269	259	124	164	320	312	299	358	343
OPM %	67.29%	63.50%	61.02%	58.26%	51.95%	57.91%	67.23%	66.96%	61.57%	65.82%	60.60%
	21	53	63	42	298	323	112	109	187	106	106
Interest	81	75	78	76	63	64	66	65	73	66	63
Depreciation	30	40	44	46	42	29	31	35	45	70	68
Profit before Tax	163	190	209	178	316	394	336	321	369	327	352
Tax %	17.83%	18.56%	17.30%	17.25%	7.59%	6.23%	13.63%	12.77%	8.69%	17.25%	17.17%
Net Profit	134	155	173	148	292	370	290	280	337	271	291
EPS	8.71	10.09	11.26	9.60	17.06	20.73	16.25	15.68	9.43	7.57	—
Dividend Payout %	27.51%	25.72%	26.57%	0.00%	5.88%	11.58%	30.75%	31.89%	26.50%	33.03%	—

COMPOUNDED SALES GROWTH

10 Years:: 4%
5 Years:: 18%
3 Years:: 5%

COMPOUNDED PROFIT GROWTH

10 Years:: 6%
5 Years:: -2%
3 Years:: -2%

STOCK PRICE CAGR

10 Years:: 25%
5 Years:: 34%
3 Years:: 27%
1 Year:: 21%

RETURN ON EQUITY

10 Years:: 6%
5 Years:: 6%
3 Years:: 6%
Last Year:: 5%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	31	31	31	31	34	36	36	36	72	72
	2,399	2,532	2,704	2,805	4,183	4,545	4,798	4,998	5,239	5,427
	861	803	871	935	721	916	739	741	760	716
Trade Payables	17	17	13	14	17	19	20	29	24	27
	69	107	132	156	218	211	231	268	285	289
Total Liabilities	3,377	3,489	3,751	3,940	5,174	5,727	5,824	6,073	6,380	6,530
	606	638	635	676	24	21	33	33	46	69
Capital Work in Progress	110	73	72	80	9	92	198	371	617	850
	2,283	2,367	2,614	2,710	2,890	4,473	4,548	4,683	4,352	4,402
	0	0	0	0	0	0	0	23	23	27
Cash & Bank	7	6	7	4	417	212	32	3	23	53
	371	405	422	470	1,835	929	1,013	959	1,319	1,130
Total Assets	3,377	3,489	3,751	3,940	5,174	5,727	5,824	6,073	6,380	6,530

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	233	299	285	294	132	404	344	229	320	418
Cash from Investing	-88	-114	-200	-185	-894	-436	-112	-171	-181	-158
Cash from Financing	-163	-143	-33	-72	862	127	-303	-146	-58	-249
	-64	-1	1	-3	78	68	-121	-88	82	10

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	47.27	47.27	47.26	47.26	47.26	47.25	47.25	47.25	47.25
	35.41	35.44	35.66	36.14	36.27	33.45	33.85	32.97	31.73
	13.33	13.17	13.03	12.59	12.72	15.47	15.26	16.14	17.38
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	3.98	4.11	4.05	4.00	3.74	3.83	3.63	3.64	3.64

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-10

Amalgamation/Merger

2026-09-10 - The Phoenix Mills Limited has informed the Exchange about effective date of scheme of merger and amalgamation between subsidiary companies.

2026-09-08

Analysts/Institutional Investor Meet/Con. Call Updates

2026-09-08 - The Phoenix Mills Limited has informed the Exchange about Outcome of Interaction with Analyst/Institutional Investor

2026-09-07

Analysts/Institutional Investor Meet/Con. Call Updates

2026-09-07 - The Phoenix Mills Limited has informed the Exchange about Outcome of Interaction with Analyst/Institutional Investor

2026-09-05

Amalgamation/Merger

2026-09-05 - The Phoenix Mills Limited has informed the Exchange about sanction of scheme of merger and amalgamation between subsidiary companies by National Company Law Tribunal, Chennai Bench.

2026-09-05

Copy of Newspaper Publication

2026-09-05 - The Phoenix Mills Limited has informed the Exchange about Copy of Newspaper Publication

2026-09-04

General Updates

2026-09-04 - The Phoenix Mills Limited has informed the Exchange about Letter Providing The Web-Link Of The Integrated Annual Report Of The Company For The Financial Year 2025-26

2026-09-04

Shareholders meeting

2026-09-04 - The Phoenix Mills Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 28, 2026

2026-09-03

Copy of Newspaper Publication

2026-09-03 - The Phoenix Mills Limited has informed the Exchange about Copy of Newspaper Publication

2026-09-02

Analysts/Institutional Investor Meet/Con. Call Updates

2026-09-02 - The Phoenix Mills Limited has informed the Exchange about Outcome of Interaction with Analyst/Institutional Investor

News

Recent coverage and analyst commentary for PHOENIXLTD

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The Phoenix Mills Ltd.

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Free 5nance Account

Name

DLF

656.40

36.55

162479.46

1.22

793.90

-89.59

1280.34

-52.87

6.81

49.68

LODHA

1165.45

28.23

116454.47

0.36

1373.10

103.39

4996.70

43.10

16.89

38.51

PHOENIXLTD

1897.90

53.03

67883.68

0.13

394.51

22.95

1074.94

12.80

15.41

59.77

PRESTIGE

1541.85

58.31

66412.14

0.13

271.40

-12.87

2675.10

15.94

11.51

31.75

OBEROIRLTY

1796.30

24.84

65313.87

0.45

543.51

29.02

1300.89

31.73

17.69

56.75

GODREJPROP

1860.00

35.01

56028.13

0.54

349.38

-41.61

506.17

16.48

8.37

-57.98

ANANTRAJ

613.40

38.15

22074.85

0.16

149.19

18.50

631.40

6.58

12.23

29.53

BRIGADE

662.00

31.08

21598.36

0.23

216.94

37.35

1115.55

-12.93

11.02

32.33

ABREL

1341.65

113.30

14985.65

0.19

-34.59

-27.73

188.85

30.95

-4.54

-30.02

SOBHA

1228.35

56.96

13137.67

0.49

50.85

273.37

1278.15

50.03

6.96

6.07

SIGNATURE

785.75

10.59

11054.40

0.00

-16.53

-148.00

551.99

-36.24

34.77

-8.10

MAXESTATES

547.20

774.04

8950.27

0.00

8.35

-30.00

51.91

0.86

2.05

15.65

Jun 2023

Sep 2023

Dec 2023

Mar 2024

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

118

112

120

116

118

116

127

125

126

137

146

135

147

Operating Profit

OPM %

69.73%

65.36%

64.59%

68.16%

65.15%

62.50%

63.70%

55.82%

64.99%

63.11%

67.04%

68.03%

45.10%

105

Interest

Depreciation

Profit before Tax

142

106

150

Tax %

19.74%

11.40%

13.32%

7.84%

9.04%

10.71%

13.62%

-4.65%

14.90%

13.58%

28.09%

16.81%

15.34%

Net Profit

126

134

129

2.87

3.53

1.41

1.46

2.68

3.75

1.56

1.44

1.14

3.62

1.28

1.53

1.72

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

TTM

376

397

440

444

238

284

477

466

486

544

566

123

145

172

185

114

119

156

154

187

186

223

Operating Profit

253

252

269

259

124

164

320

312

299

358

343

OPM %

67.29%

63.50%

61.02%

58.26%

51.95%

57.91%

67.23%

66.96%

61.57%

65.82%

60.60%

298

323

112

109

187

106

Interest

Depreciation

Profit before Tax

163

190

209

178

316

394

336

321

369

327

352

Tax %

17.83%

18.56%

17.30%

17.25%

7.59%

6.23%

13.63%

12.77%

8.69%

17.25%

17.17%

Net Profit

134

155

173

148

292

370

290

280

337

271

291

EPS

8.71

10.09

11.26

9.60

17.06

20.73

16.25

15.68

9.43

7.57

—

Dividend Payout %

27.51%

25.72%

26.57%

0.00%

5.88%

11.58%

30.75%

31.89%

26.50%

33.03%

—

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Equity Capital

2,399

2,532

2,704

2,805

4,183

4,545

4,798

4,998

5,239

5,427

861

803

871

935

721

916

739

741

760

716

Trade Payables

107

132

156

218

211

231

268

285

289

Total Liabilities

3,377

3,489

3,751

3,940

5,174

5,727

5,824

6,073

6,380

6,530

606

638

635

676

Capital Work in Progress

110

198

371

617

850

2,283

2,367

2,614

2,710

2,890

4,473

4,548

4,683

4,352

4,402

Cash & Bank

417

212

371

405

422

470

1,835

929

1,013

959

1,319

1,130

Total Assets

3,377

3,489

3,751

3,940

5,174

5,727

5,824

6,073

6,380

6,530

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

233

299

285

294

132

404

344

229

320

418

Cash from Investing

-88

-114

-200

-185

-894

-436

-112

-171

-181

-158

Cash from Financing

-163

-143

-33

-72

862

127

-303

-146

-58

-249

-64

-1

-3

-121

-88

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

47.27

47.26

47.25

35.41

35.44

35.66

36.14

36.27

33.45

33.85

32.97

31.73

13.33

13.17

13.03

12.59

12.72

15.47

15.26

16.14

17.38

Government

0.00

3.98

4.11

4.05

4.00

3.74

3.83

3.63

3.64

The Phoenix Mills Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI

The Phoenix Mills Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI