EBITDA improved by 67% to Rs 384.5 crore in Q3 FY23 from Rs 230.5 crore in Q3 FY22. EBITDA margin remained stable at 56% during the quarter.

Profit before tax in Q3 FY23 stood at Rs 211.2 crore, up by 85% from Rs 114 crore in Q3 FY22.

Collection from retail operations in the December quarter stood at Rs 540.1 crore. Operating profit for the segment rose 67% to Rs 384.5 crore.

Retail consumption in January 2023 was Rs 816 crore, up 127% from January 2020.

Consumption in Phoenix Palladium impacted by two key stores undergoing renovation. Overall, this negatively impacted reported growth for Phoenix Palladium by approximately 8%, like-to-like consumption growth by 3% and overall consumption growth by approximately 2%.

Total Office Income in Q3 FY23 stood at Rs 42.4 crore (up 16% YoY) while the segment's total EBITDA stood at Rs 22.5 crore (up 18% YoY).

The company said that it has achieved gross leasing of approximately 3.95 lakh sq ft during YTD January 2023, of which approximately 2.45 lakh sf is new leasing and approximately 1.5 lakh sf is renewal leasing.

In its residential portfolio, the Sales trajectory has seen good improvement backed by strong demand and faster conversions. Strong sales momentum continued, with gross residential sales of approximately Rs 299 crore and collections of approximately Rs 295 crore in YTD January 2023.

The Phoenix Mills is India's largest retail led mixed-use developer. Its operations span across most aspects of real estate development; planning, execution, marketing, management, maintenance & sales. The group has real estate assets in Mumbai, Bengaluru, Chennai, Pune, Raipur, Agra, Indore, Lucknow, Bareilly & Ahmedabad.

The scrip tumbled 4.25% to currently trade at Rs 1379.35 on the BSE.