Shares of Phoenix Mills Ltd were trading in the green and 3% higher on 30 December after the company announced incorporating its subsidiary Sparkle Three Mall Developers. 
 
In its regulatory filing, the company said, “We wish to inform that the Phoenix Mills Limited, has incorporated a wholly owned subsidiary viz. Sparkle Three Mall Developers Private Limited on 27 December, 2024.” 

In Q2FY25, the company reported retailer sales (consumption) of Rs 3,289 crore, a 25% increase over Q2FY24. Gross retail collections increased by 27% year over year to approximately Rs 812 crore. 

Retailer sales for H1FY25 reached over Rs 6,506 crore, a 25% increase over H1FY24, driven by the growth of newly opened malls and strong performance at Phoenix Palassio and Phoenix Market City Mumbai. Gross retail receipts for H1FY25, on the other hand, were approximately Rs 1,610 crore, a 29% rise over the same period the year before. 
 
Phoenix Mills is a prominent Indian real estate development company with a focus on retail, commercial, and residential properties. In cities like Chennai, Bangalore, Pune, and Mumbai, the firm is especially renowned for developing large shopping malls featuring a range of dining, entertainment, and retail options, like Phoenix Market City. 

In addition to its retail endeavours, Phoenix Mills has expanded into commercial buildings and integrated mixed-use developments, which include high-end office spaces and residential complexes. Because of its reputation for creating upscale living experiences, Phoenix Mills has become a significant player in the Indian real estate market.

At 2:20 pm, the shares of Phoenix Mills were trading 1.74% higher at Rs 1,725.95 on NSE.

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