# Phoenix Mills share price today (Phoenix Mills Ltd, NSE: PHOENIXLTD)

> Phoenix Mills share price today: ₹2,079.50 at the NSE close on 4 November 2026, up 17.3% in a year. Phoenix Mills (NSE: PHOENIXLTD) is worth ₹74,390 crore, trades at a P/E of 56.4 and has closed between ₹1,501.40 and ₹2,138.90 over the past 52 weeks. > Phoenix Mills Ltd's earnings have grown faster than its share price. Earnings per share grew +24.3% in a year while the price moved +17.3%. PHOENIXLTD · Realty - Commercial · data as of 4 November 2026. Page: https://www.sectoralpha.in/stocks/phoenix-mills-ltd

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## Key numbers

- Business trend: Turning around, from fewer quarters than usual
- Price: ₹2,079.50 (+17.3% in a year)
- P/E: 56.4× (higher than 76% of the last 11 years)
- Revenue (Sep 2026): ₹1,153 Cr (+3.4% on a year ago)
- Profit (Sep 2026): ₹427 Cr (+11.2% on a year ago)
- Operating margin: 62.0% (+2.0 points on a year ago)
- ROCE: 12%, FY26
- Profit that came in as cash: 159%, last 3 years

The main question: foreign institutions moved −3.9 percentage points over 8 quarters while the business went the other way. ## What is the Phoenix Mills share price today? Phoenix Mills Ltd's share price was ₹2,079.50 at the close on 4 November 2026. It has been rising for 24 weeks. That is 12.9% above its average price over the last 200 trading days. In the last 52 weeks it traded between ₹1,501 and ₹2,139, and at that close it sat 91% of the way up from that low. Over the past 13 weeks it has done better than the NIFTY 500, and it has stayed ahead for 3 weeks in a row. Over the last 11 years the share price moved +1,186% while the NIFTY 500 moved +251%, so it is ahead of the index over that whole period. The chart above shows the 13-week comparison for every week. This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row. ## What changed at Phoenix Mills this quarter? Three changes stood out: best operating margin in 16 quarters, foreign funds (FIIs) cut their stake for 3 quarters in a row and revenue up on a year earlier for 6 quarters in a row. 1. Best operating margin in 16 quarters Operating margin was 62% in the September 2026 quarter, against 60% a year earlier. 2. Foreign funds (FIIs) cut their stake for 3 quarters in a row From 33.9% to 31.6% of the company by the September 2026 quarter. 3. Revenue up on a year earlier for 6 quarters in a row In the September 2026 quarter revenue was ₹1,153 crore, +3.4% on a year earlier. ## What are Phoenix Mills' latest quarterly results? For July to September 2026 (the quarter ended 30 September 2026), Phoenix Mills reported revenue of ₹1,153 crore, up 3.4% from ₹1,115 crore a year earlier, and a profit of ₹427 crore, up 11.2% from ₹384 crore. ### Phoenix Mills results: July to September 2026 against a year earlier

| Measure | July to September 2026 | July to September 2025 | Change |
| --- | --- | --- | --- |
| Revenue | ₹1,153 crore | ₹1,115 crore | +3.4% |
| Profit | ₹427 crore | ₹384 crore | +11.2% |
| Earnings per share | ₹9.11 | ₹8.50 | +7.2% |
| Operating margin | 62.0% | 60.0% | +2.0 points |

The next results, for October to December 2026, are due by 14 February 2027: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter). Phoenix Mills' management discussed these results on a call held on 31 October 2026; what it said is further down this page. (From the company's reported quarterly results (quarter ended 30 September 2026). Revenue and profit in ₹ crore.)

## What is the Phoenix Mills share price history? Phoenix Mills closed at ₹2,079.50 on 4 November 2026, up 17.3% from ₹1,773.30 a year earlier (7 November 2025) and up 306.0% over five years. Its highest weekly close since March 2016 was ₹2,138.90 on 10 July 2026. ### Phoenix Mills share price: then and now

| When | Close | Change to 4 Nov 2026 |
| --- | --- | --- |
| 1 week ago · 30 Oct 2026 | ₹1,957.20 | +6.2% |
| 1 month ago · 1 Oct 2026 | ₹1,930.00 | +7.7% |
| 6 months ago · 8 May 2026 | ₹1,829.30 | +13.7% |
| 1 year ago · 7 Nov 2025 | ₹1,773.30 | +17.3% |
| 3 years ago · 3 Nov 2023 | ₹1,002.30 | +107.5% |
| 5 years ago · 4 Nov 2021 | ₹512.15 | +306.0% |
| 10 years ago · 4 Nov 2016 | ₹185.93 | +1,018.4% |
| Earliest weekly close in our records · 11 Mar 2016 | ₹161.68 | +1,186.2% |
| Highest weekly close since March 2016, also the 52-week high · 10 Jul 2026 | ₹2,138.90 | −2.8% |
| Lowest weekly close since March 2016 · 3 Jun 2016 | ₹145.73 | +1,327.0% |
| 52-week low (weekly close) · 27 Mar 2026 | ₹1,501.40 | +38.5% |

Weekly closing prices, adjusted for splits and bonuses so every price is on today’s share count. Each change is the move from that price to the 4 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes. (564 weekly closes from 11 March 2016 to 4 November 2026.)

## What is the latest news on Phoenix Mills? 4 Nov 2026: Phoenix Mills closed at ₹2,079.50, up 6.2% on the week and up 7.7% on the month. 31 Oct 2026: Phoenix Mills held its results call for July to September 2026. ### Earlier

- Results for July to September 2026: Revenue up 3.4% and profit up 11.2% on a year earlier. - 11 Sep 2026: ex-date for a dividend of ₹2.50 a share. - 20 Sep 2024: Bonus issue: 1 new share for every 1 held (ex-date). ## What dividend does Phoenix Mills pay? Phoenix Mills paid ₹2.50 a share in regular dividends in the 12 months to 5 November 2026 (1 payment), a yield of 0.12% at the ₹2,079.50 close on 4 November 2026. The last was a dividend of ₹2.50 a share, ex-date 11 September 2026. ### Phoenix Mills dividends since 1 April 2021

| Ex-date | Dividend per share | Type |
| --- | --- | --- |
| 11 Sep 2026 | ₹2.50 | Dividend |
| 15 Sep 2025 | ₹2.50 | Dividend |
| 20 Aug 2024 | ₹5 | Dividend |
| 15 Sep 2023 | ₹5 | Dividend |
| 12 Sep 2022 | ₹2.40 | Dividend |
| 16 Sep 2021 | ₹1 | Dividend |

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date. The record date is the same day as the ex-date for every payment here. 5 of 5 Of the last 5 financial years, years with an NSE dividend record

Yes. Phoenix Mills Ltd paid out 7% of its profit as dividends in FY26, and it paid a dividend in 12 of its last 13 reported years. (From the NSE corporate-actions record, read 5 November 2026.)

## What did Phoenix Mills management say on the latest results call? On the call for July to September 2026, held on 31 October 2026, Phoenix Mills' management spoke about the quarter; the main points are below. Source: [the call transcript](https://files.tijoristack.ai/concall/transcript/519-31-Oct-2026.pdf). (From the call for July to September 2026, 31 October 2026.)

## What could change the Phoenix Mills story? What are the risks? Remaining capital spending at 60% debt funding will push net debt/operating profit above current 1.3x during construction; if new malls open late, interest burden compresses free cash flow longer. ### The main risks

- Capital spending leverage: ₹3,500-4,000 Cr remaining capital spending at 60% debt funding: Remaining capital spending at 60% debt funding will push net debt/operating profit above current 1.3x during construction; if new malls open late, interest burden compresses free cash flow longer. ✓ fact

(Our read after the January to March 2026 results, written 14 June 2026. The July to September 2026 results are out since, so this part may be out of date until we update it.)

## Which stock lists is Phoenix Mills on? Phoenix Mills is on 3 of our India lists: Momentum stocks, Small & mid cap stocks and Real estate, REIT & cement. - [Momentum stocks Market cap cr: 74382.60576333538](https://www.sectoralpha.in/momentum-stocks-india)
- [Small & mid cap stocks Size rank in India: 141](https://www.sectoralpha.in/small-cap-stocks-india)
- [Real estate, REIT & cement Group on the list: Malls, offices and co-working](https://www.sectoralpha.in/sectors/real-estate-stocks-india)

## Is Phoenix Mills profitable? Phoenix Mills Ltd earned ₹427 Cr of net profit in the Sep 2026 quarter, +11.2% on the same quarter a year earlier. That is the 6th quarter in a row of profit growth. Full-year FY26 profit was ₹1,557 Cr. Over 10 years profit has grown 33.9% a year on average. That is 37.0% of the quarter's revenue. The same quarter a year earlier earned ₹384 Cr. For the full year, FY26 profit was ₹1,557 Cr (+19.1% on the year before). Why profit moved: revenue changed +3.4% on a year earlier and the margin moved +2.0 percentage points. Most of the change came from keeping more of each sale. On average over the last four quarters, profit changed +19.3% and revenue +13.2%. Profit is growing faster than sales: fixed costs are spread over more sales, so each extra rupee of revenue adds more to profit. ## How much revenue does Phoenix Mills make, and is it growing? Phoenix Mills Ltd reported ₹1,153 Cr of revenue in the Sep 2026 quarter, +3.4% on the same quarter a year earlier. That is the 6th quarter in a row with growth on the year before. Over 10 years it has grown 9.6% a year on average. The last full year, FY26, came in at ₹4,418 Cr. The last four reported quarters add to ₹4,582 Cr. FY26 revenue was ₹4,418 Cr, +16.0% on the year before. Recent pace: the last four quarters grew +13.2% on average, against 9.6% a year over the longer run, so this year is growing faster than its own long-run rate. Is growth speeding up? Revenue over the last 12 months grew +12.9%, against +5.5% a year over the last 8 quarters (accelerating); profit over the last 12 months grew +18.9%, against +11.5% a year (accelerating). ## How much of every ₹100 of sales does Phoenix Mills keep? Phoenix Mills Ltd's operating margin was 62.0% in the Sep 2026 quarter, 2.0 percentage points higher than the same quarter a year ago. Its latest full-year margin is the highest it has ever reported. Across 13 years it has been between 45.0% and 60.0%. The latest quarter is above every full year in that period. Why this happened. Four malls (Mall of Millennium, Mall of Asia, Kolkata Grand Victoria, Indore) represent Rs 3,500-4,000 Cr of active capex planned to convert to recurring rental EBITDA by FY27. Mall of Asia Q3 FY26 consumption grew 112% YoY to Rs 732 Cr with occupancy at 88% aiming for 94-95%. Incremental EBITDA contribution from stabilised new malls is the single largest PAT driver over the 12-18 month horizon. Why the margin moved: operating margin changed +1.8 percentage points on the year while gross margin changed +2.3 points. So the gain came mostly from the gross margin, which means input costs and prices charged. When margins are at a record, every ratio built on profit looks better than usual, so watch whether they hold. ## Is Phoenix Mills' profit turning into cash? Over the last 3 years, 159% of Phoenix Mills Ltd's reported profit came in as cash from its operations, so the profit is backed by cash. In FY26 it brought in ₹2,426 Cr of operating cash against ₹1,557 Cr of profit. After ₹1,402 Cr of spending on assets, ₹1,024 Cr was left over as free cash. Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year. Why 159% of profit came in as cash: the cash cycle got 88 days shorter between FY21 and FY26, so cash that used to wait in the business now arrives sooner. What to look at next: the bigger use of cash is spending on new assets, at 6.6× depreciation over three years. The next section checks what that spending is building. ## Where does Phoenix Mills' cash go? Phoenix Mills Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 26 days in FY26, down from 114 days in FY21. It spent ₹6,349 Cr on assets over the last 3 years. Customers take 26 days to pay, and stock sits for 973 days on average. At FY26 sales of ₹4,418 Cr, each day of that cycle ties up about ₹12.1 Cr, so roughly ₹315 Cr is tied up in the business at any time. FY26: customers took 26 days to pay and stock sat for 973 days, about 32.0 months of sales sitting as stock, for a full cycle of 26 days, shorter than FY21's 114. The full loop: cash goes out to suppliers and production on day 0. Stock sits for 973 days. Customers pay about 26 days after that. Suppliers are paid at 265 days. Together that makes the 26-day cycle. Spending on assets: ₹6,349 Cr over the last 3 years, against ₹957 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹3,879 Cr (FY26): assets paid for that are not earning yet. In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns. ## What is Phoenix Mills' P/E ratio, and how does it compare with its own history? Phoenix Mills Ltd's P/E is 56.4×, near the high end of its own history: higher than 76% of past readings. Its usual P/E (the middle reading) is 50.1×, over 11 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth. The P/E here, and its history, use a profit figure that can leave out one-off items, so it can differ from a P/E worked out on the quarterly results. Those results' earnings per share for the four quarters to Sep 2026 add up to ₹36.40. Why the multiple is where it is: over the past year earnings per share moved +24.3% while the price moved +17.3%. Earnings did better than the price, which pulled the multiple down within its own range. Where the price move came from: over 5 years the price moved +32.3% a year; about +50.3% a year came from earnings growth and about −18.0 percentage points from the multiple (the market paying less); over 10 years the price moved +27.3% a year; about +25.2% a year came from earnings growth and about +2.1 percentage points from the multiple (the market paying more). The split is approximate (price return minus earnings growth). It shows how much of the move came from the market paying a different multiple. In short: the multiple is high against its own past, so the earnings trend underneath matters more than the multiple. The PEG ratio and its quarterly curve, which only the second data source has, are not shown on this page: its two data sources disagree by up to 26% on reported income across 15 comparable periods. When two sources disagree on a figure, we leave it out on purpose. The gap is a choice, not missing data. ## Is the Phoenix Mills business getting better or worse? Phoenix Mills Ltd's business is turning around. Profit growth has swung from −1.9% at its low to +18.9%, rising from a low 5 quarters ago, with ROCE steady at 12.0%. This is based on 9 quarters of 4 measures, with some gaps. Why it matters: a turn in growth is often where a bigger change starts. The lines say a turn is forming, so the question is whether the next quarters confirm it. The return figures here are yearly, not quarterly. They show level and direction only; they can support the growth lines but never decide the reading alone. This reading has some gaps: at least one line is short, or the return line is not the quarterly series, so treat it with a little more caution. ## What is the Phoenix Mills story, and has it been checked? Phoenix Mills Ltd's story is not scored yet against the checks our research set on 14 June 2026. Where it sits in its own cycle: Not stated in the research file. Our read, 14 June 2026. What is proven. What is not proven yet. The test written in advance. Measured by: the thesis as written as stated. What the surface reading misses. What the surface reading misses. Adjusted to mid-cycle OPM of 50.8%, EPS normalises down 15.2% to Rs 29.0. Sources: our stock research file (14 June 2026) · quarterly results through Sep 2026 · the company’s own earnings calls. The story check is re-scored every results season; the record below never changes. ## Did Phoenix Mills management deliver what it promised? What Phoenix Mills Ltd's management promised, against what actually happened: 4 promises on the record. Read straight from the company’s own earnings calls. A promise that slipped stays on this page after it is met. Office Rent-Generating Ramp Revised Down and Delayed · 31 October 2026. In Jul 2026, management expected rent-paying occupancy to catch up to 72% leased occupancy by March 2027. In Oct 2026, leased occupancy had risen to 79%, but the goal was only 70% rent-generating occupancy by March, with 80% not expected until June or July next year; no reason for the softer March goal or delayed catch-up was given. Kolkata Residential Launch Timeline Shifted · 31 October 2026. In Jul 2026, management said the Kolkata residential development was expected to launch by the end of 2026 or early 2027. In Oct 2026, it said approvals had taken longer than expected and that the project would start in perhaps two quarters, a material timetable change; although a reason was cited, management did not reconcile the new start estimate with the earlier launch window. Kolkata Grand Victoria Mall Timeline Conflict · 28 April 2026. In the Oct 2025 call, management was emphatic and explicit that Grand Victoria Mall Kolkata would open in CY Q3 2027 (= Q3 FY28), directly correcting an analyst who suggested CY2026. However, in the Apr 2026 results call, management states the project was expected to be operational 'by the second half of FY26', a period spanning October 2025 to March 2026 that had already completely elapsed at the time of the call with no confirmed opening, directly contradicting the CY2027 timeline and leaving the actual opening date entirely unclear. Earlier call (Oct 2025): “we are expecting the Grand Victoria Mall Kolkata to be ready by sometime in the third quarter of calendar year 2027...Yes, calendar year, or you can say third quarter FY28.” Later call (Apr 2026): “our Kolkata project is in the advanced stages of construction, and we expect that to be operational by the second half of FY26.”

PMC Bangalore/Pune 90% Trading Occupancy Goal for March 2026 Not Met · 28 April 2026. Both the Oct 2025 and Jan 2026 calls contained explicit, confident guidance that Phoenix MarketCity Bangalore and Pune would recover to 90%+ trading occupancy by March 2026, with the Jan 2026 call specifically describing this as 'in line with original timelines.' The Apr 2026 call instead reveals ongoing trading occupancy drag at both PMC centers through the entirety of FY26, deferring meaningful rental uplift from these malls entirely to FY27, without acknowledging or explaining the missed recovery goal. Later call (Apr 2026): “At both our Phoenix Marketcity Bangalore and Phoenix Marketcity Pune centers, over 3 lakh square feet of area at each mall has undergone strategic repositioning. These churns and new deals will result in strong double-digit rental growth in the upcoming year.”

Every quote above is taken word for word from the company’s own earnings calls. ## How much does Phoenix Mills earn on its capital? Phoenix Mills Ltd earned a ROCE of 12% in FY26. That is up from a low of 4% in FY21. We cannot compare its return on capital used with its cost of capital from the data we have. It comes from a 35.2% net margin and 0.19× asset turnover (sales divided by assets). Why the return is what it is (FY26): a 35.2% net margin × 0.19× asset turnover × 2.07× leverage (assets divided by equity) ≈ 13.8% on equity. The margin does most of the work; borrowing is a big part of it. The quarterly return lines and the return-on-capital-used (ROIC) line, which only the second data source has, are not shown on this page: its two data sources disagree by up to 26% on reported income across 15 comparable periods. When two sources disagree on a figure, we leave it out on purpose. The gap is a choice, not missing data. ## Does Phoenix Mills have too much debt? Phoenix Mills Ltd had ₹5,323 Cr of borrowings against ₹10,989 Cr of equity in FY26, so its debt is 0.48× its equity. Its operating profit is 7 times its interest bill. Over 5 years borrowings went from ₹4,063 Cr to ₹5,323 Cr. Over the last 3 of those years it spent ₹6,349 Cr on assets. Part of the spending on assets is being paid for with borrowed money. The total-debt and debt-to-equity series, which only the second data source has, are not shown on this page: its two data sources disagree by up to 26% on reported income across 15 comparable periods. When two sources disagree on a figure, we leave it out on purpose. The gap is a choice, not missing data. ## What is the Phoenix Mills shareholding pattern? Domestic institutions raised their stake in Phoenix Mills Ltd by 4.1 percentage points over 8 quarters, the biggest change among its owners. Domestic institutions now own 17.3% of the company. Foreign institutions moved −3.9 points over the same period, to 31.6%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings. Over the last two years: Domestic institutions: +4.1 points over 8 quarters, to 17.3%; Foreign institutions: −3.9 points over 8 quarters, to 31.6%; Promoters: +0.0 points over 8 quarters, to 47.2%. Why the owners changed: foreign institutions moved −3.9 points and domestic institutions +4.1 points over 8 quarters, while promoters stayed about the same. One group of institutions took over shares from the other; it is not a change of mind by the people running the company. ## How far is Phoenix Mills from balance-sheet trouble? For Phoenix Mills Ltd, the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date. ## How does Phoenix Mills rank in its industry? 64.4 out of 100, rank 2 of 3 in Realty - Commercial, with 79% of the evidence available. Phoenix Mills Ltd scores 64.4 out of 100 against the 3 companies it is compared with in Realty - Commercial, ranking 2. The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. The four parts add up to the total exactly: 23.6 + 14.2 + 9.5 + 17.1 = 64.4. This is the same number shown on the industry page; it is worked out once for the whole group and read here. What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector. ## Which companies is Phoenix Mills compared with? Phoenix Mills ranks 2 of 3 Realty - Commercial companies on the 4-Factor Sector Score, with 64.4 out of 100. 1. [Nirlon Ltd](https://www.sectoralpha.in/stocks/nirlon-ltd) NIRLON · breaking out · Most evidence points up · 75% evidence 71.0 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 19.8/35 · Revenue 5% · Profit 58% · Operating margin change -1 points · 83% evidence Capital efficiency 22.0/25 · ROCE 30.8% · Operating margin 77% · 76% evidence Valuation 13.4/20 · P/E 15.9× · PEG n/a · 35% evidence Relative strength 15.8/20 · Lead over its industry 8.3% · Lead over NIFTY 500 16.1% · 1 year 23.4% · 100% evidence · 3 of 12 weeks ahead Exact sum: 19.8 + 22 + 13.4 + 15.8 = 71 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 2. Phoenix Mills Ltd this page PHOENIXLTD · turning · Evidence leans up · 79% evidence 64.4 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 23.6/35 · Revenue 12.9% · Profit 18.9% · Operating margin change 2 points · 95% evidence Capital efficiency 14.2/25 · ROCE 12.4% · Operating margin 62% · 76% evidence Valuation 9.5/20 · P/E 53.1× · PEG n/a · 35% evidence Relative strength 17.1/20 · Lead over its industry 5.4% · Lead over NIFTY 500 13.3% · 1 year 16.3% · 100% evidence · 4 of 12 weeks ahead Exact sum: 23.6 + 14.2 + 9.5 + 17.1 = 64.4 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 3. [NESCO Ltd](https://www.sectoralpha.in/stocks/nesco-ltd) NESCO · turning · Evidence leans down · 79% evidence 46.1 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 10.6/35 · Revenue 13.1% · Profit -2.7% · Operating margin change -1 points · 95% evidence Capital efficiency 19.1/25 · ROCE 18.5% · Operating margin 56% · 76% evidence Valuation 12.5/20 · P/E 17.3× · PEG n/a · 35% evidence Relative strength 3.9/20 · Lead over its industry -14.9% · Lead over NIFTY 500 -8.2% · 1 year -27.6% · 100% evidence · 0 of 12 weeks ahead Exact sum: 10.6 + 19.1 + 12.5 + 3.9 = 46.1 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led NIFTY 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read. The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section. Related companies: [Realty - Commercial](https://www.sectoralpha.in/sectors/realty-commercial), all 3 compared on one page. ## Which companies are close to Phoenix Mills in size? Phoenix Mills is the largest of 3 Realty - Commercial companies on Sector Alpha by market value (scores of 30 October 2026). It is the largest. Just below it: NESCO and Nirlon. ### Realty - Commercial companies close in size

1. Phoenix Mills Ltd ₹70,008 crore
2. [NESCO Ltd](https://www.sectoralpha.in/stocks/nesco-ltd) ₹6,985 crore
3. [Nirlon Ltd](https://www.sectoralpha.in/stocks/nirlon-ltd) ₹5,689 crore

[All 3 Realty - Commercial companies, largest first](https://www.sectoralpha.in/sectors/realty-commercial#all-companies)

### Companies close in size in other industries

1. [JSW Infrastructure Ltd](https://www.sectoralpha.in/stocks/jsw-infrastructure-ltd) ₹73,651 crore · Marine Port & Services
2. [Hindustan Petroleum Corporation Ltd](https://www.sectoralpha.in/stocks/hindustan-petroleum-corporation-ltd) ₹72,463 crore · Refineries
3. Phoenix Mills Ltd ₹70,008 crore
4. [Ather Energy Ltd](https://www.sectoralpha.in/stocks/ather-energy-ltd) ₹69,693 crore · Auto - 2 & 3 Wheelers
5. [NTPC Green Energy Ltd](https://www.sectoralpha.in/stocks/ntpc-green-energy-ltd) ₹69,467 crore · Power - Generation/Distribution

## What else do people ask about Phoenix Mills? ### What is Phoenix Mills's share price today? Phoenix Mills Ltd's share price is ₹2,079.50, +17.3% over the past year. The whole company is worth ₹74,390 Cr on the market. In the last 52 weeks it traded between ₹1,501 to ₹2,139; today it is 91% of the way up from the low, 12.9% above its 200-day average (as of 4 November 2026). ### What were Phoenix Mills's latest quarterly results? Phoenix Mills Ltd reported revenue of ₹1,153 Cr and net profit of ₹427 Cr for the Sep 2026 quarter. Revenue rose 3.4% and profit rose 11.2% compared with a year earlier. Earnings per share were ₹9.11. The operating margin was 62.0%, 2.0 percentage points higher than a year earlier (as of 4 November 2026). ### What is Phoenix Mills's market cap? Phoenix Mills Ltd's market capitalisation is ₹74,390 Cr at a share price of ₹2,079.50. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 4 November 2026). ### How is Phoenix Mills performing? Phoenix Mills Ltd's share price has been rising for 24 weeks. In its latest quarter, revenue rose 3.4% and profit rose 11.2% compared with a year earlier. Over the past 13 weeks it has done better than the NIFTY 500, for 3 weeks running (as of 4 November 2026). ### Will Phoenix Mills's share price go up? This page does not forecast Phoenix Mills Ltd's share price. What it shows instead: the share price is ₹2,079.50, and it has been rising for 24 weeks. Its P/E of 56.4× is higher than 76% of its own last 11 years (as of 4 November 2026). ### Who owns Phoenix Mills? Promoters own 47.2% of Phoenix Mills Ltd, foreign institutions 31.6%, domestic institutions 17.3% and the public 3.8% (latest quarter). The biggest change over the last two years: Domestic institutions raised their stake by 4.1 percentage points over 8 quarters (as of 4 November 2026). ### Where is Phoenix Mills in its business cycle? Phoenix Mills Ltd's FY26 operating margin was 60.0%, against a 13-year range of 45.0% to 60.0%: the top of its range, a record year. When profit is at a record, every ratio looks better than usual, and the story depends on margins staying high. The latest quarter was 62.0%. Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 4 November 2026). ### What could break the Phoenix Mills story? The main question: foreign institutions moved −3.9 percentage points over 8 quarters while the business went the other way. On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 4 November 2026). ### Is Phoenix Mills a stock worth studying right now? What the numbers show: Phoenix Mills Ltd's earnings have grown faster than its share price. Earnings per share grew +24.3% in a year while the price moved +17.3%. The main open question: whether the owners’ moves turn back in line with the business. Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 4 November 2026). ### Is there a Phoenix Mills share price forecast for 2026? What would change the story: Remaining capital spending at 60% debt funding will push net debt/operating profit above current 1.3x during construction; if new malls open late, interest burden compresses free cash flow longer. ## Lists

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