Interim report
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Corp. Office: Shree Laxmi Woolen Mills Estate, 2nd Floor, R.R. Hosiery, Off Dr. E. Moses Rd. Mahalaxmi, Mumbai - 400 011 Tel: (022) 3001 6600 Fax: (022) 3001 6601 CIN No. : L17100MH1905PLC000200 Regd. Office: The Phoenix Mills Ltd., 462 Senapati Bapat Marg, Lower Parel, Mumbai 400 013. Tel: (022) 2496 4307 / 8 / 9 Fax: (022) 2493 8388 E-mail: info@thephoenixmills.com www.thephoenixmills.com October 30, 2026 BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers Exchange Plaza, Dalal Street, Fort, Bandra-Kurla Complex, Bandra East, Mumbai- 400 001 Mumbai- 400051 Security code: 503100 Symbol: PHOENIXLTD Dear Sir(s)/Madam(s), Sub: Outcome of the Board Meeting - Disclosure under Regulation 30 and other applicable regulations of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 Further to our intimation dated October 23, 2026 and pursuant to applicable regulations of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, (‘Listing Regulations’), we wish to inform you that the Board of Directors of The Phoenix Mills Limited (‘Company’) at its meeting held today viz. Friday, October 30, 2026, has inter alia, considered and approved the Unaudited Standalone and Consolidated Financial Results of the Company for the quarter and half year ended September 30, 2026 along with the Limited Review Report issued by the Statutory Auditors of the Company. In this regard, please find enclosed the Unaudited Standalone and Consolidated Financial Results of the Company for the quarter and half year ended September 30, 2026, along with the Limited Review Report issued by the Statutory Auditors of the Company in compliance with the requirements of Listing Regulations. The meeting of the Board of Directors of the Company commenced at 04:15 p.m. (IST) and concluded at 04:59 p.m. (IST). The intimation along with the aforesaid Financial Results are also being uploaded on the Company’s website at https://www.thephoenixmills.com/investors/FY2027/Financial-Results. You are requested to take the aforesaid information on record. Thanking you, Yours Faithfully, For The Phoenix Mills Limited _______________________ Bhavik Gala Company Secretary Mem. No. F8671 Enclosures: As above fiat~ THE PHOENIX ..,, MILLS LIMITED
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& Associates LLP CHARTERED ACCOUNTANTS Independent Auditor's Limited Review Report on the Quarterly and Year to Date Unaudited Standalone Financial Results of The Phoenix Mills Limited pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015, as amended Limited Review Report To The Board of Directors The Phoenix Mills Limited I. We have reviewed the accompanying statement of "Unaudited Standalone Financial Results" of The Phoenix Mills Limited ("the Company") for the quarter and half year ended 30 September, 2026 ("the Statement") attached herewith, being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015, as amended ("the Listing Regulations"). 2. This Statement, which is the responsibility of the Company's Management and approved by Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34") prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with regulation 33 of the listing regulations. Our responsibility is to express a conclusion on the Statement based on our review. 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity", issued by the Institute of Chartered Accountants of India (ICAI). This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review of interim financial information consists of making inquiries, primarily of Company's personnel responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing specified under Section 143(10) of the Companies Act, 2013 and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. 4. Based on our review conducted and procedures performed as stated in paragraph 3 above, nothing has come to our attention that causes us to believe that the accompanying statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standards ('Ind AS') specified under Section 133 of the Companies Act, 2013, as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the Listing Regulation, including the manner in which it is to be disclosed, or that it contains any material misstatement. For D TS & Associates LLP Chartered Accountants (Firm's Registration No. 142412W/W100595) i)o~ Umesh B. Nayak Partner Membership No. 101183 UDIN: 26101183WOIFXY8095 Place: Mumbai Date: 30 October, 2026. REGD. OFFICE: 45-46, MIHAL COURT, C WING, 4' h FLOOR, NARIMAN POINT, MUMBAI - 400 021. PHONE: +91 22 4973 2396 / 4605 4964 WEB: www.dtsa.in BRANCH OFFICE: 604, NORTH BLOCK, REAR WING, MANI PAL CENTRE, DICKENSON ROAD, BENGALURU - 560 042.
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THE PHOENIX MILLS LIMITED Regd. Office :- 462, Senapati Bapat Marg, Lower Pare!, Mumbai - 400013, CIN: LI 71 00MHl 905PLC000200 Tel: (022) 3001 6600 E-mail: investorrelations@phoenixmills.comWebsite:www.thephoenixmills.com STATEMENT OF UNAUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED 30 SEPTEMBER 2026 <~in Lakhs) Sr. Particulars Quarter Ended Half Year Ended Year Ended No. 30-09-2026 30-06-2026 30-09-2025 30-09-2026 30-09-2025 31-03-2026 Unaudited Unaudited Unaudited Unaudited Unaudited Audited I Income Net Sales / Income from Operations 14,093.96 14,744.62 13,733.03 28,838.58 26,286.45 54,394.09 Other Income 10 499.34 620.22 9 544.42 11 119.56 10 107.61 13 532.56 Total Income 24 593.30 15 364.84 23 277.45 39 958.14 36 394.06 67 926.65 2 Expenses a) Employee Benefits Expenses 1,040.02 971.38 1,241.80 2,011.40 2,330.64 3,938.98 b) Finance Cost 1,368.40 1,358.25 1,619.24 2,726.65 3,327.46 6,637.46 c) Electricity Expenses 516.63 533.62 507.04 1,050.25 850.06 1,666.23 d) Depreciation and Amortisation Expenses (Refer note 4) 2,070.01 2,036.33 1,623.41 4,106.34 3,851.94 7,040.62 c) Other Expenses 3 231.20 3 195.71 3 317.51 6 426.91 6 280.51 12 985.97 Total Expenses 8 226.26 8 095.29 8 309.00 16 321.55 16 640.61 32 269.26 3 Profit before Exceptional items (1-2) 16,367.04 7,269.55 14,968.45 23,636.59 19,753.45 35,657.39 4 Exceptional Items (net of taxes) (Refer note 2) (1,215.00) . (1,215.00) . (2,948.97) 5 Profit before tax (3+4) 15,152.04 7,269.55 14,968.45 22,421.59 19,753.45 32,708.42 6 Tax expense 2,437.60 1,114.86 2,032.63 3,552.46 2,745.84 5,640.95 7 Net Profit for the period (5-6) 12,714.44 6,154.69 12,935.82 18,869.13 17,007.61 27,067.47 8 Other Comprehensive Income/(loss) (net of taxes) (93.73) 150.67 (58.20) 56.94 (23.08) (137.54) 9 Total Comprehensive Income for the period (7+8) 12,620.71 6,305.36 12,877.62 18,926.07 16,984.53 26,929.93 10 Paid-up equity share capital (Face Value~ 2/- per share) (Refer note 3) 7,153.56 7,152.81 7,151.85 7,153.56 7,151.85 7,152.69 11 Other Equity 5,43,229.15 12 Earnings per equity share (Not Annualised for the Quarter and Half year ended) Basic EPS (~) (Before exceptional item) 3.90 1.72 3.62 5.62 4.76 8.39 Diluted EPS (~) (Before exceptional item) 3.89 1.72 3.62 5.61 4.76 8.39 Basic EPS (~) (After exceptional item) 3.56 1.72 3.62 5.28 4.76 7.57 Diluted EPS (~) (After exceptional item) 3.55 1.72 3.62 5.27 4.76 7.57 Notes:- 1 The above Unaudited Standalone Financial Results of The Phoenix Mills Limited ('the Company') for the quarter and half year ended 30 September 2026 have been reviewed by the Audit Committee and thereafter approved by the Board of Directors at their respective meetings held on 30 October 2026. 2 Exceptional Items: 2.1 During the quarter, the Company has paid t 1,215.00 Lakhs in full and final settlement of a dispute of one of its subsidiaries and shown as an exceptional item in the Statement ofprofit and Loss for the Quarter and Half Year ended 30 September, 2026. 2.2 During the previous financial year ended 31 March 2026, the Company recognised total exceptional losses aggregating to~ 2,948.97 Lakhs towards impairment of investments in four wholly owned subsidiaries and one associate, based on the determination of recoverable amounts in accordance with Ind AS 36 - Impairment of Assets. 3 During the half year ended 30 September 2026, the paid-up equity share capital of the Company stands increased to 'i!' 7,153.56 Lakhs pursuant to the allotment of 43,227 equity shares on 2 each pursuant to exercise ofoptions by eligible employees, under ESOP scheme 2018. 4 The Company reassessed the remaining estimated useful life ofa portion of the mall building forming part of its investment property, which is proposed to be demolished and redeveloped. Accordingly, the Company has charged accelerated depreciation oH 462.48 Lakhs during the quarter ended 30 June 2026 and ~ 463.63 Lakhs during the quarter ended 30 September 2026, aggregating to 'i!' 926. 11 Lakhs for the half year ended 30 September 2026. 5 The Company is predominantly engaged in the business of property and related services, whose results are reviewed regularly by Chief Operating Decision Maker for making decisions about resource allocation and performance assessment and hence, there are no separate reporting segments as per Ind-AS 108. 6 Previous period's I year's figures have been regrouped or rearranged wherever necessary, to make them comparable with current period. For and on behalf of the Board of Directors Ej "I..(' J =- I { MUMBAI <P®j .,,.. Atul Ruia ~ ;~;> Place: Mumbai DIN: 00087396 Date : 30 October 2026 (Chairman) ~:=;;:::;,,/
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The Phoenix Mills Limited Unaudited Standalone Balance Sheet as at 30 September 2026 Particulars Assets Non-Current Assets Property, Plant and Equipment Investment Property Investment Property under Construction (including Capital work in progress) Intangible Assets Financial Assets - Investments , - Loans - Other Financial Assets Deferred Tax Asset (net) Income Tax Assets (net) Other Non-Current Assets Total Non-Current Assets Current Assets Financial Assets - Investments - Trade Receivables - Cash and Cash Equivalents - Bank Balances Other than Cash and Cash Equivalent - Loans - Other Financial Assets Other Current Assets Total Current Assets Total Assets Equity and Liabilities Equity Equity Share Capital Other Equity Total Equity Liabilities Non-Current Liabilities Financial Liabilities - Borrowings - Lease Liabilities - Other Financial Liabilities Provisions Deferred Tax Liabilities (Net) Other Non-Current Liabilities Total Non-Current Liabilities Current Liabilities Financial Liabilities - Borrowings - Lease Liabilities - Trade Payables i) Total outstanding dues of micro enterprises and small enterprises ii) Total outstanding dues of creditors other than micro enterprises and small enterprises - Other Financial Liabilities Other Current Liabilities Provisions Total Current Liabilities Total Liabilities Total Equity and Liabilities Place: Mumbai Date : 30 October 2026 As at 30 September 2026 Unaudited 6,660.49 75,358.58 91,916.28 0.34 4,17,980.92 60.74 5,317.07 2,324.67 1,467.96 6,01,087.05 36,682.27 2,631.23 548.16 610.09 19,368.71 1,033.67 594.69 61,468.82 6,62,555.87 7,153.56 5,53,569.34 5,60,722.90 66,050.71 659.51 3,375.74 526.55 60.53 2,933.33 73,606.37 2,795.03 124.64 823.34 1,157.79 20,731.65 2,527.56 66.59 28,226.60 1,01,832.97 6,62,555.87 (, in Lakhs) As at 31 March 2026 Audited 6,884.26 78,721.83 84,999.84 0.60 4,16,305.17 111.37 2,736.64 40.61 2,274.82 1,250.42 5,93,325.56 23,898.40 2,708.12 3,326.10 1,928.55 20,893.80 1,187.53 700.32 54,642.82 6,47,968.38 7,152.69 5,43,229.15 5,50,381.84 63,736.68 722.89 4,575.08 496.42 2,602.74 72,133.81 907.14 119.65 876.27 1,791.67 20,200.29 1,491.12 66.59 25,452.73 97,586.54 6,47,968.38 For and on behalf of the Board of Directors Atul Ruia DIN: 00087396 (Chairman)
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The Phoenix Mills Limited Unaudited Standalone Statement of Cash Flow for the half year ended 30 September 2026 Particulars Cash flow from Operating activities Profit before tax Ad.iustments for: Depreciation and Amortization expenses (Gain)/Loss on Sale/Disposal of Property, Plant and Equipment (Gain)/Loss on fair valuation of investments measured at fair value through profit & loss Sundry balances written back Advance Lease Rental on Security deposit- Ind AS Adjustment License Fees Equalisation Rebate and Settlement Provision for Doubtful Debts and Advances Interest Expense for financial liabilities at amortised cost Interest Income Interest Expense Ind AS Adjustments- Security Deposit Share Based payments to employees Exceptional Item Dividend Income (Gain)/Loss on Sale of investments Operating profit before working capital changes Changes in working capital (Increase )/decrease in Non-Current Assets (Increase )/decrease in Trade Receivables (Increase )/decrease in Current Assets Increase/(decrease) in Non-Current Liabilities Increase/( decrease) in Trade Payables Increase/( decrease) in Current Liabilities Cash generated from operating activities Income taxes paid (net of refunds) Net cash generated from Operating activities (A) Cash flow from Investing activities Payment for Property, Plant and Equipment, Intangible Assets and Investment Property (including Capital work in progress) Inter Corporate Deposits & Loans (placed)/refunded (Net) Purchase oflnvestments Sale oflnvestments Term Deposits Matured Term Deposits placed Equity Investments made in Subsidiaries/Associates/Partnership Firm Investments in debentures of Subsidiaries/ Associates Redemption of debentures of Subsidiaries/ Associates Interest received Dividend received Net cash used in Investing activities (B) Cash flow from Financing activities Net proceeds from issue of equity shares at share premium Share Application money pending allotment Long term Borrowings repaid Long term Borrowings availed Repayment oflease liabilities Interest paid Dividend paid Net cash used in Financing activities (C) Net Increase/(decrease) in cash and cash equivalents (A+B+C) Cash and cash equivalents at the beginning of the period Cash and cash equivalents at the end of the period Components of cash and cash equivalents Cash on hand Balances with banks - in current accounts Bank overdrafts Total cash and cash e uivalents at end of the eriod Place: Mumbai Date : 30 October 2026 Half Year Ended 30 Se tern ber 2026 Unaudited 22,421.59 4,106.34 1.75 (646.98) (23.74) (318.50) 133.51 117.45 37.44 2,414.71 (1,178.88) 311.94 12.27 1,215.00 (8,943.67) 307.11 19,353.12 (827) (77.99) 121.13 (848.36) (692.44) 2 480.87 20 328.06 3 520.30 16 807.76 (8,170 52) 1,605.08 (25,205.00) 13,430.00 (1,198.37) (6,399.70) (246.90) 3,833.05 1,184.20 8 943.67 12 224.49 196.88 101.65 (20,386.18) 22,500.00 (92.10) (2,251.33) (8,941.95) 8 873.03 (4,289.76) 3,326.10 963.66 0.00 548.16 1 511.82 963.66 if in Lakhs Half Year Ended 30 Se tember 2025 Unaudited 19,753.45 3,851.94 16.74 (602.30) (406.19) (186.04) 94.76 36.82 2,981.59 (113.56) 345.87 26.25 (8,968.18) 414.14 16,417.01 (86.50) (1,177.41) (261.11) (153.63) 616.38 2 323.40 (12,959.06) 4,484.54 (57,100.00) 21,501.80 2,306.00 (1,020.00) (1,000.00) 33,980.00 121.62 8 968.18 716.92 293.87 36.30 (3,105.77) (2,998.49) (8,938.90) 14 712.99 (855.79) 2,277.14 l 421.35 1.76 1,419.59 1,421.35 For and on behalf of the Board of Directors AtulRuia DIN: 00087396 (Chairman)
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& Associates LLP CHARTERED ACCOUNTANTS Independent Auditor's Limited Review Report on the Quarterly and Year to Date Unaudited Consolidated Financial Results of the Company Pursuant to the Regulation 33 of the SERI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended Limited Review Report To The Board of Directors The Phoenix Mills Limited 1. We have reviewed the accompanying statement of "Unaudited Consolidated Financial Results" of The Phoenix Mills Limited ("the Parent"), which includes its subsidiaries (the Parent and its subsidiaries together referred to as "the Group") and its share of the net profit/loss after tax and total comprehensive income/loss of its associates for the quarter and half year ended 30th September, 2026 ("the Statement") attached herewith, being submitted by the Parent pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("the Listing Regulations"). 2. This Statement, which is the responsibility of the Parent's Management and approved by the Parent's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under section 13 3 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. Our responsibility is to express a conclusion on the Statement based on our review. 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity", issued by the Institute of Chartered Accountants of India (ICAI). This Standard requires that we plan and perform the review to obtain moderate assurance as to whether Statement is free of material misstatements. A review of interim financial information consists of making inquiries, primarily of parent's persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing specified under Section 143(10) of the Companies Act, 2013 and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. We also performed procedures in accordance with the Circular No. CIR/CFD/CMDI/44/2019 dated 29 th March, 2019 issued by the Securities and Exchange Board of India under Regulation 33(8) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, to the extent applicable. 4. The Statement includes the results of the following entities: List of Subsidiaries: Alliance Spaces Private Limited; Alyssum Developers Private Limited; Astrea Real Estate Developers Private Limited; Bellona Hospitality Services Limited; Big Apple Real Estate Private Limited; Blackwood Developers Private Limited; Butala Farm Lands Private Limited; Casper Realty Private Limited; Classic Mall Development Company Limited; Coimbatore Sameera Investments Private Limited*; Destiny Retail Mall Developers Private Limited; Dhanalakshmi Engineering Private Limited*; Finesse Mall and Commercial Real Estate Private Limited; Gangetic Developers Private Limited; Graceworks Realty and Leisure Private Limited; Insight Mall Developers Private Limited; Island Star Mall Developers Private Limited; Market City Management Private Limited; Market City Resources Private Limited; Mindstone Mall Developers Private Limited; Mugwort Land Holdings Private Limited; ''--'''u,,coa• Developers Private Limited; Orcus Realty Limited (formerly known as Orcus Logistics and Parks Limited); Palladium Constructions Private Limited; Pallazzio Hotels and Leisure Limited; Phoenix Digital Technologies Private Limited; Phoenix Logistics and Industrial Parks Private Limited; Pinnacle Real Estate Development Private Limited; Plutocrat Commercial Real Estate Private Limited; Pulankinar Investment and Finance Private Limited*; Rentcierge Developers Private Limited; REGD. OFFICE: 45-46, MIHAL COURT, C WING, 4 th FLOOR, NARI MAN POINT, MUMBAI - 400 021. PHONE: +91 22 4973 2396 / 4605 4964 WEB: www.dtsa.in BRANCH OFFICE: 604, NORTH BLOCK, REAR WING, MANI PAL CENTRE, DICKENSON ROAD, BENGALURU - 560 042.
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& Associates LLP CHARTERED ACCOUNTANTS Savannah Phoenix Private Limited; SGH Realty Private Limited (formerly known as SGH Realty LLP); Shanthi Chandran Enterprisers Private Limited*; Shanthi Chandran Investments Coimbatore Private Limited*; Sheela Traders Private Limited*; Sparkle One Mall Developers Private Limited; Sparkle Two Mall Developers Private Limited; Sparkle Three Mall Developers Private Limited; Thoth Mall and Commercial Real Estate Private Limited; Truevalue Infrabuild Private Limited (formerly known as Truevalue Infrabuild LLP); Upal Developers Private Limited; and Vamona Developers Private Limited. *Merged with Astrea Real Estate Developers Private Limited w.e.f 10th September, 2026 (appointed date 01st October, 2024) List of Associates: Classic Housing Projects Private Limited; Columbus Investment Advisory LLP (formerly known as Columbus Investment Advisory Private Limited); Mirabel Entertainment Private Limited; Starboard Hotels Private Limited and Stratix Hospitality Private Limited. 5. Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the consideration of the review reports of other auditors referred in paragraph 6 below nothing has come to our attention that causes us to believe that the accompanying statement, prepared in accordance with recognition and measurement principles laid down in the applicable Indian Accounting Standards ('Ind AS') specified under Section 133 of the Companies Act, 2013, as amended, read with the relevant rules issued thereunder and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement. 6. The accompanying Statement includes the unaudited financial results/financial information, in respect of a. 31 subsidiaries, which have not been reviewed by us, whose unaudited interim financial results/financial information reflect total assets ofRs.22,97,152.40 lakhs as at 30th September 2026, total revenues of Rs. 84,309 lakhs and Rs. 1,61,056.84 lakhs for the quarter and half year ended 30th September 2026 respectively, total net profit after tax of Rs. 45,024 lakhs and Rs. 71,262.87 lakhs for the quarter and half year ended 30th September 2026 respectively, total comprehensive income of Rs. 45,639.37 lakhs and Rs. 73,379.32 lakhs for the quarter and half year ended 30th September 2026 respectively and net cash outflow of Rs. 4,623.17 lakhs for the half year ended 30th September 2026, as considered in the Statement which have been reviewed by other auditors. b. 2 associates, which have not been reviewed by us, whose unaudited interim financial results/financial information reflect Group's share of net profit after tax of Rs. 16.2 lakhs and Rs. 34.43 lakhs for the quarter and half year ended 30th September 2026 respectively, total comprehensive income of Rs. 12.42 lakhs and 35 lakhs for the quarter and half year ended 30th September 2026 respectively, as considered in the Statement which have been reviewed by other auditors. The reports on the unaudited interim financial results/ financial information of these entities have been furnished to us by the Management and our conclusion on the Statement, in so far as it relates to the amounts and disclosures included in respect of these subsidiaries, and associates, is based solely on the reports of such auditors and the procedures performed by us as stated in paragraph 3 above. Our conclusion is not modified in respect of these matters. 7. The accompanying Statement includes the unaudited interim financial results/financial information, in respect of- 1 associate whose unaudited interim financial results/ financial information reflect Group's share of net profit/(loss) after tax of Rs. (0.04) lakhs and Rs. (0.07) lakhs for the quarter and half year ended 30th Continuation sheet...
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& Associates LLP CHARTERED ACCOUNTANTS September 2026 and total comprehensive income/(loss) of Rs (0.04) lakhs and Rs (0.07) for the quarter and half year ended 30th September 2026, as considered in the Statement. This unaudited interim fmancial results/ financial information have not been reviewed by its auditors and have been approved and furnished to us by the management and our conclusion on the statement, in so far as it relates to affairs of associate is solely based on such unaudited interim financial results/ financial information. According to the information and explanation given to us by the management, this unaudited interim financial results/ financial information are not material to the group. Our conclusion on the statement is not modified in respect of our reliance on the unaudited interim financial results/financial information certified by management. For D T S & Associates LLP Chartered Accountants (Firm's Registration No. 142412W/W100595) Oc~d?. Umesh B. Nayak Partner Membership No. 101183 UDIN: 26101183XCIYUD7983 Place: Mumbai Date: 30th October, 2026 Continuation sheet...
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THE PHOENIX MILLS LIMITED Regd. Office :- 462, Senapati Bapat Marg, Lower Pare!, Mumbai - 400013, CIN: LI 71 OOMHl 905PLC000200 Tel: (022) 3001 6600 E-mail: investorrelations@phoenixmills.comWebsite:www.thephoenixmills.com STATEMENT OF UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED 30 SEPTEMBER 2026 (fin Lakhs) Sr. PARTICULARS Quarter Ended Half Year Ended Year Ended No. 30-09-2026 30-06-2026 30-09-2025 30-09-2026 30-09-2025 31-03-2026 Unaudited Unaudited Unaudited Unaudited Unaudited Audited 1 Income Net Sales / Income from operations 1,15,280.65 1,07,494.40 1,11,542.72 2,22,775.05 2,06,841.25 4,42,280.43 Other Income 3,628.79 4,021.47 3,078.59 7,650.26 6,230.50 17,075.02 Total Income 1,18,909.44 1,11,515.87 1,14,621.31 2,30,425.31 2,13,071.75 4,59,355.45 2 Expenses a) Cost of Materials Consumed 4,461.05 4,908.70 5,074.76 9,369.75 17,705.79 29,369.49 b) Change in Inventories of finished goods and work in progress 918.70 (495.67) 2,820.63 423.03 (5,007.84) (248.04) c) Employee Benefits Expenses 10,495.75 10,549.10 10,751.80 21,044.85 20,376.30 40,434.85 d) Finance Cost 10,316.14 9,384.29 9,193.98 19,700.43 18,708.73 38,684.48 e) Electricity Expenses 5,686.46 5,915.81 5,386.73 11,602.27 10,630.15 19,440.91 f) Depreciation and Amortisation Expenses 9,379.61 9,550.80 9,122.64 18,930.41 18,467.44 36,030.87 g) Other Expenses 22,687.58 22,463.07 20,816.82 45,150.65 40,016.31 89,573.37 Total Expenses 63,945.29 62,276.10 63,167.36 1,26,221.39 1,20,896.88 2,53,285.93 3 Profit before exceptional items, tax and share of profit/(loss) of 54,964.15 49,239.77 51,453.95 1,04,203.92 92,174.87 2,06,069.52 associates (1-2) 4 Exceptional Item (net of taxes) (Refer Note 2) - - - - - (2,898.21) 5 Profit before tax and share of profit/(loss) of associates (3+4) 54,964.15 49,239.77 51,453.95 1,04,203.92 92,174.87 2,03,171.31 6 Tax Expense 12,558.36 9,885.02 13,169.81 22,443.38 21,898.99 47,510.24 7 Net Profit after tax for the period (5-6) 42,405.79 39,354.75 38,284.14 81,760.54 70,275.88 1,55,661.07 8 Add: Share in Profits/(loss) of Associates 294.09 96.07 124.86 390.16 218.87 (10.42) 9 Net Profit after tax & Share of profit/(loss) of associates (7+8) 42,699.88 39,450.82 38,409.00 82,150.70 70,494.75 1,55,650.65 10 Other Comprehensive Income/(loss) (net of taxes) 517.84 1,656.10 (1,170 00) 2,173.94 (587.42) (1,581.12) 11 Total Comprehensive Income for the period (9+10) 43,217.72 41,106.92 37,239.00 84,324.64 69,907.33 1,54,069.53 12 Net Profit attributable to a) Owners of the Company 32,571.20 29,686.33 30,399.39 62,257.53 54,468.03 1,22,381.64 b) Non controlling interest 10,128.68 9,764.49 8,009.61 19,893.17 16,026.72 33,269.01 13 Other comprehensive Income/(loss) attributable to a) Owners of the Company 509.80 1,656.10 (1,170.00) 2,165.90 (587.42) (1,566.97) b) Non controlling interest 8.04 - - 8.04 - (14.15) 14 Total comprehensive Income attributable to a) Owners of the Company 33,081.00 31,342.43 29,229.39 64,423.43 53,880.61 1,20,814.67 b) Non controlling interest 10,136.72 9,764.49 8,009.61 19,901.21 16,026.72 33,254.86 15 Paid-up equity share capital (Face Value ~2/- per share) (Refer Note 3) 7,153.56 7,152.81 7,151.85 7,153.56 7,151.85 7,152.69 16 Other Equity 10,91,701.55 17 Earning Per Share (Not Annualised for the Quarter) Basic EPS (~) (Before exceptional Items) 9.11 8.30 8.50 17.41 15.23 35.04 Diluted EPS (~) (Before exceptional Items) 9.10 8.30 8.50 17.40 15.23 35.02 Basic EPS (~) (After exceptional item) 9.11 8.30 8.50 17.41 15.23 34.23 Diluted EPS (~) (After exceptional item) 9.10 8.30 8.50 17.40 15.23 34.21
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THE PHOENIX MILLS LIMITED Regd. Office :- 462, Senapati Bapat Marg, Lower Pare!, Mumbai - 400013, ClN: LI 71 00MHI 905PLC000200 Tel: (022) 3001 6600 E-mail: investorrelations@phoenixmills.comWebsite:www.thephoenixmills.com STATEMENT OF UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED 30 SEPTEMBER 2026 Notes: 1 The above Unaudited Consolidated Financial Results of The Phoenix Mills Limited ('the Company'), its subsidiaries (the company and its subsidiaries together referred to as "the Group") and its associates for the quarter and half year ended 30 September 2026 have been reviewed by the Audit Committee and thereafter approved by the Board of Directors at their respective meetings held on 30 October 2026. 2 During the previous financial year ended 31 March 2026, the Group had recognised total exceptional losses aggregating to ~2,898.21 Lakhs towards impairment of goodwill arising from past acquisitions of certain subsidiaries, based on the determination of recoverable amounts in accordance with Ind AS 36 - Impairment of Assets. 3 During the half year ended 30 September 2026 the paid-up equity share capital of the company stands increased to U\53.56 Lakhs pursuant to the allotment of 43,227 equity shares of <'2 each pursuant to exercise of options by eligible employees, under ESOP Scheme 2018. 4 The Company reassessed the remaining estimated useful life of a portion of the mall building forming part of its investment property, which is proposed to be demolished and redeveloped. Accordingly, the Company has charged accelerated depreciation on'462.48 Lakhs during the quarter ended 30 June 2026 and ~463.63 Lakhs during the quarter ended 30 September 2026, aggregating to ~926.11 Lakhs for the half year ended 30 September 2026. 5 Based on the results & the financial information regularly reviewed by Chief Operating Decision Maker for making decisions about the resource allocation & performance assessment, the group has on consolidated basis identified three reportable segments viz Property & related services, Hospitality services and Residential Business as per Ind AS 108. The Segment information is as per Annexure "A". 6 During the quarter and half year ended 30 September 2026, the Hon'ble National Company Law Tribunal, Chennai Bench ("NCLT") has approved the Scheme of Merger and Amalgan1ation 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 ('collectively referred as Transferor Companies'), step down subsidiaries of the company with Astrea Real Estate Developers Private Limited ('Transferee Company'), subsidiary of the Company under the provisions of Sections 230 to 232 and other applicable provisions of the Companies Act, 2013 read with the Rules framed thereunder. This does not have any impact on these consolidated financial results. 7 Island Star Mall Developers Private Limited ("ISMDPL"), a subsidiary of the Company, has received approval from the Hon'ble NCLT vide its order dated 27 October 2026, for the selective reduction of its equity share capital pursuant to the Framework Agreement dated 24 July 2025, as part of the Tranche 2 payment contemplated thereunder. In the consolidated financial results for the period ended 30 September 2026, the Group has, in compliance with Ind AS, recognised the present value of the balance consideration payable to Canada Pension Plan Investment Board ("CPP Investments") as a financial liability, with a corresponding accounting impact to non-controlling interest of CPP Investments in ISMDPL and the resultant difference being recognised in Other Equity attributable to the owners of the Group. The balance tranche payments remain subject to compliance with applicable laws and regulations. 8 As at 30 September 2026, the Company has 37 subsidiaries and 5 associates. 9 Previous period's / year's figures have been regrouped and rearranged wherever necessary to make them comparable with current period. ,,,_,,,,;,,,-,'<,-.a».•rn~=••-,,•~A --- For and on behalf of the Board of Directors ~(5oE.SJNI)( ~ I ~ r/ - I LU 111,i,,, ~ i) :r: ·-& (/) ~ !4//,.... A a ~ Place : Mumbai DIN: 00087396 ~i\~ Dated : 30 October 2026 (Chairman) -
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THE PHOENIX MILLS LIMITED UNAUDITED CONSOLIDATED BALANCE SHEET AS AT 30 SEPTEMBER 2026 Particulars Assets Non-Current Assets Property, Plant and Equipment Investment Property Investment Property under Construction (Including Capital work in progress) Goodwill on Consolidation Other Intangible Assets Investments Accounted for using the Equity Method Financial Assets - Investments - Loans - Other Financial Assets Deferred Tax Asset (net) Income Tax Assets (net) Other Non-Current Assets Total Non-Current Assets Current assets Inventories Financial Assets - Investments - Trade Receivables - Cash and Cash Equivalents - Bank Balances Other than Cash and Cash Equivalent - Loans - Other Financial Assets Other Current Assets Total Current Assets Total Assets Equity and Liabilities Equity Equity Share Capital Other Equity Equity Attributable to the Owners Non-Controlling Interest Total Equity Liabilities Non-Current Liabilities Financial Liabilities - Borrowings - Lease Liabilities - Other Financial Liabilities Provisions Deferred Tax Liabilities (net) Other Non-Current Liabilities Total Non-Current Liabilities Current Liabilities Financial Liabilities - Borrowings •· Lease Liabilities - Trade Payables (i) Total outstanding dues of micro enterprises and small enterprises (ii) Total outstanding dues of creditors other than micro enterprises and small enterprises - Other Financial Liabilities Other Current Liabilities Provisions Current Tax Liabilities (Net) Total Current Liabilities Total Liabilities Total E ui And Liabilities Place : Mumbai Dated : 30 October 2026 As at 30 September 2026 Unaudited 2,23,421.19 12,96,603.46 3,46,834.89 56,271.54 115.55 28,343.65 21,923.04 60.74 26,086.62 4,583.71 11,388.87 20,257.33 20,35,890.59 77,215.61 1,47,707.80 26,658.07 13,674.26 72,839.59 835.83 11,217.86 11,854.08 3,62 003.10 23,97 893.69 7,153.56 9,02,773.00 9,09,926.56 216229.40 11,26 155.96 5,54,379.17 1,517.40 2,78,102.67 5,003.40 38,392.44 6,358.28 8,83,753.36 54,865.53 854.52 7,063.53 13,484.13 2,70,542.51 24,577.90 16,406.70 189.55 3,87,984.37 12,71,737.73 23,97,893.69 (f In lakhs) As at 31 March 2026 Audited 2,28,312. 92 11,92,450 82 3,87,930.27 56,271.54 120.98 28,657.14 19,380.72 111.37 23,722.46 5,617.44 12,349.70 17,996.29 19,72,921.65 77,638.64 1,00,959.19 31,678.04 18,141.18 64,166.27 301.10 11,259.69 8,200.61 3,12,344.72 22,85,266.3'7 7,152.69 10,91,701.55 10,98,854.24 3 31 631.94 14,30,486.18 4,70,440.38 1,892.91 91,654.19 4,520.76 38,035.60 5,364.88 6,11,908.72 59,133.84 834.12 6,829.82 14,349.12 1,30,786.33 16,533.31 14,342.49 62.44 2,42,871.47 8,54,780.19 22,85,266.37_ For and on behalf of the Board of Directo ct@9---.,,,,,_ . AtulRuia -- DIN 00087396 (Chatrman)
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The Phoenix Mills Limited UNAUDITED CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE HALF YEAR ENDED 30 SEPTEMBER 2026 Particulars A. Cash flows from Operating activities Profit before tax Adjustments for: Depreciation and Ammtization expenses (Gain)/Loss on Sale/Disposal of Property, Plant and Equipment (Gain)/Loss on fair valuation of investments measured at fair value through profit & loss Gain on sale of investments Sundry balances written back Advances written off Advance Lease Rental on Security deposit-Ind AS Adjustment License fees Equalisation Rebate and Settlement Provision for Doubtful Debts and Advances Interest expense for financial liabilities at amortised cost Interest expense Ind AS adjustments- Security Deposit Interest income Share based payments to employees Dividend income Unrealised Foreign Exchange loss/(gain) Operating cash flow before working capital changes Working capital adjustments: (Increase)/decrease in Non-C111Tent assets (Increase)/decrease in Inventories (lncrease)/decrease in Trade receivables (lncrease)/decrease in CurTent assets lncrease/(decrease) in Non-Current Liabilities Increase/(decrease) in Trade Payables Increase/(decrease) in Current Liabilities Cash flows generated from operating activities Income taxes paid (net of refunds) Net cash generated from operating activities (A) B. Cash flow from Investing activities Payment for Property, Plant and Equipment, Investment Property and Intangible Assets (Including Capital work-in-progress) Sale of Property, Plant and Equipment and Investment Property Inter Corporate Deposits & Loans (placed)/refunded (net) Tenn Deposits Matured Term Deposits Placed Purchase of Investments Sale of Investments (Investment)/Redemption of Investment in Associates Interest received Dividend received from Associates Dividend received from Others Net cash used in Investing activities (B) C. Cash flow from Financing activities Net Proceeds from issue of equity shares at share premium Share application money pending allotment Long term Bonowings repaid Long term Bonowings availed Shari term loans availed/ (repaid) (net) Interest paid Dividend paid/Transfer to dividend account Proceeds from non-controlling interest of subsidiary Repayment of lease liabilities Net cash generated in Financing activities (C) D. Net increase/ (decrease) in cash and cash equivalents (A+B+C) Cash and cash equivalents at the beginning of period Cash and cash equivalents at the end of the period Notes:- Components of cash & cash equivalents Cash on hand Balances with banks -In cmTent account -Deposits with maturity of less than 3 months Bank overdrafts Total cash and cash e uivalents at the end of the eriod Place • Mumbai Dated : 30 October 2026 Half Year Ended 30 Se itember 2026 Unaudited 1,04,203,92 18,930.41 14.20 (1,036.76) (2,236.30) (321.77) 253.22 (2,246.83) (906.36) 308.25 467.67 17,549.25 2,151]8 (3,189 17) 58.41 (34 34) 9.39 1,33,974.37 (414.09) 423.03 4,312.60 (3,167 66) 1,466.30 (640 67) 25,159.49 1,61,113.37 (I 9,647 00) 1,41,466.37 (1 ,44,255.91) 14.29 (484 10) 25,161.54 (34,847 73) ( 1,53,423.38) 1,09,270. 76 (45.70) 2,745.19 749.93 34.34 ( 1,95,080. 77) 196.88 101.65 (90,429.37) 1,72,761.99 (1,474.22) ( I 9,923.85) (14,793 69) 4,899.12 ( 436.45) 50,902.06 2,712.34 2,245.95 466.39 23. I 5 11,046.12 2,605.00 (14,140.66) 466.39 (~ In lakhs) Half Year Ended 30 Se item ber 2025 Unaudited 92,174.87 I8,467.44 50.2I (727.17) (2,634.71) (107.03) 1.47 (2,161.79) (781.35) 214.36 497.88 l 6,855.96 1,852.77 (1,948.73) 109.13 (66.16) I7.10 1,21,814.25 (2,074.90) (5,011.84) (9,136.67) (] ,333.82) (8,957.02) 2,264.84 42,007.78 1,39,572.62 (16,488.46) 1,23,084.16 (58,501.79) 18.18 603.87 6,326.59 (27,599.21) (1,49,986.96) 1,05,922.34 840.99 1,913.38 66.16 (1,20,396.45) 293.88 36.30 (19,821.56) 42,600.00 (2,416.73) (16,663.28) (17,527.25) 20,793.78 (330.98) 6,964.16 9,651.87 2,709.38) 6,942.49 21.49 23,595.84 10,490.00 (27,164.84) 6,942.49 For and on behalf of the Board of Directors ~l"-----../J.~ DIN: 00087396 (Chairman)
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Annexure II A" (tin Lakhs) Particulars Quarter Ended Half Year Ended Year Ended 30-09-2026 30-06-2026 30-09-2025 30-09-2026 30-09-2025 31-03-2026 Unaudited Unaudited Unl\udited Unaudited Unaudited Audited A Segment Revenue Property & Related Services 92,508.98 89,568 65 79,711.74 1,82,077.63 1,56,116.85 3,21,251.97 Hospitality Services 17,513.80 18,459.12 15,154.61 35,972.92 30,703.27 72,876.71 Residential Business 6,075.59 334.65 17,452.79 6,410.24 21,726.39 49,604.16 Total l,16,098.37 l ,08,362.42 l,12,319.15 2,24,460. 79 2,08,546.51 4,45, 734.84 less: Inter Segment Revenue 817.72 868 02 776.43 1,685.74 1,705.26 3,454.41 Revenue From Operation 1,15,280.65 l,07,494.40 l,11,542.72 2,22, 775.05 2,06,841.25 4,42,280.43 B Segment Result I Profit Before Tax & Interest Property & Related Services 53,679 26 50,899 6 I ·11,580.85 i,0'1,578 88 83,248.55 1,7/4,886.16 Hospitality Services 4,114.22 4,893.50 4,325.38 9,007.72 7,896.04 20,582.86 Residential Business 3,858.02 (1,190.52) I 1,663.11 2,667.50 13,508,51 32,209.96 2 Profit from operations before Other Income, Finance Costs and Exceptional items 61,651.50 54,602.59 57,569.34 1,16,254.09 1,04,653.10 2,27,678.98 3 Add· Other Income 3,628.79 4,021.47 1,078.59 7,650.26 6,230.50 17,075.02 4 Profit before Finance Costs and Exceptional items 65,280.29 58,624.06 60,647.93 l ,23,904.35 l,10,883.60 2,44,754.00 5 less: Finance Costs 10,316.14 9,384.29 9,193.98 I 9,700.43 I 8,708.73 38,684.48 b Profit Before Tax & Exceptional hems 54,964.15 49,239.77 51,453.95 1,04,203.92 92,174.87 2,06,069.52 7 Exceptional Item (net of taxes) (Refer Note 2) (2,89821) 8 Prnfit Before Tax 54,964.15 49,239.77 51,453.95 1,04,203.92 92,174.87 2,03,171.31 C Segment Assets Property & Related Services 18,35,351.94 18,00,476.81 17,02,709.06 18,35,351.94 17,02,709.06 17,70,197.44 Hospitality Services 86,062.25 85,148.89 86,253.66 86,062.25 86,253.66 85,790.45 Residential Business 76,796.07 79,479.53 88,532.77 76,796.07 88,532.77 84,132.37 Unallocated 3,99,683.43 3,46,590.55 4,03,690.56 3,99,683.43 4,03,690.56 3,45, 146.11 Total Segment Assets 23,97,893.69 23,11,695. 78 22,81,186.05 23,97 ,893.69 22,81,186.05 22,85,266.37 I) Segment Liabilities Property & Related Services 2,11,279.30 1,95,962.93 2,57,598.11 2,11,279.30 2,57,598.11 2,56,005.55 Hospitality Services 20,994.66 18,816.53 18,995.66 20,994.66 18,995.66 19,388.84 Residential Business 3,124.38 2,853.17 7,475.83 3,124.38 7,475.83 3,783.89 Unallocated I 0,36,339.39 6,22,360.35 5,38,229 69 I 0,36,339.39 5,38,229.69 5,75,601.91 Total Segment Liabilities 12,71,737.73 8,39,992.98 8,22,299.29 12,71,737.73 8,22,299.29 8,54,780.19 Note: The Group's primary segment is identified as business segment based on nature of products, risks, returns and the internal business repo1iing system as per Ind AS 108. The Group has three reportable segments as under· Reportable Segment Nature of operations Property and related services Providing ma!! /office areas on leave and licence basis Hospitality services Operation of hotels and restaurants Residential Business Sale of residential properties Operating segment disclosures are consistent with the information provided to and reviewed by the chief operating decision maker. The measurement principles of segments are consistent with those used m Material Accounting Policies with following additional policies for segment reporting a) Revenue and Expenses have been identified to a segment on the basis of relationship to operating activities of the segment. Revenue/rncome and Expenses which relate to enterprise as a whole and are not allocable to a segment on reasonable basis have been disclosed as "Unallocable" b) Segment Assets and Segment Liabilities represent Assets and Liabilities in respective segments. Investments, tax related assets and other assets and liabilities that cannot be allocated to a segment on reasonable basis have been disclosed as "Unallocable"