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Profile: The Phoenix Mills
Mar-30-2026

The Phoenix Mills (including its subsidiaries together referred as the Group) is India’s leading owner, operator and developer of retail-led mixed-use destinations. The Group has carved a niche for itself in the Indian real estate sector, through its retail-led mixed-use developments, comprising retail malls, commercial offices and hospitality assets. The Group also builds residential assets. 

As a developer, owner, and operator of premium mixed-use properties, it prides itself on creating desirable destinations that seamlessly integrate retail, commercial offices, hospitality and residential spaces. Its operations span across most aspects of real estate development; planning, execution, marketing, management, maintenance & sales. The Group has presence in Mumbai, Bengaluru, Pune, Chennai, Agra, Indore, Lucknow, Bareilly, Ahmedabad, Surat, Coimbatore, CMR and Thane.

Business area of the company

The Phoenix Mills along with its subsidiaries is engaged in operation and management of mall, construction of commercial and residential property and hotel business in India. Its diverse asset portfolio includes luxury shopping malls located in major urban centres, designed to offer a dynamic mix of retail, dining, and entertainment options tailored to various consumer demographics. Additionally, it manages state-of-the-art commercial offices that accommodate a wide range of businesses, from multinational corporations to domestic enterprises, enhancing the urban commercial office landscape. Its residential properties are luxurious complexes that offer high-quality living spaces with an emphasis on design, security, and modern amenities, appealing to affluent residents and investors. 

Businesses

  • Retail
  • Commercial
  • Hospitality
  • Residential

Awards

2018

  • Most admired shopping centre of the year - National
  • Shopping centre of the year Luxury
  • Shopping centre of the year Luxury West
  • Best Digital Marketing Campaign of the year - HSPWISHCIRCLE (Palladium)
  • Best Customer experience - shopping mall- Phoenix MarketCity, Mumbai
  • Best digital marketing campaign - HAUTESPRING
  • Shopping centre of the year west- Phoenix MarketCity, Mumbai
  • Popular Shopping Mall- Phoenix MarketCity, Mumbai
  • Popular F&B Destination of the City - Dublin Square- Phoenix MarketCity, Mumbai
  • Developer Website India- Residential Kessaku

2019

  • For Brand excellence in Retail & Real Estate Sector
  • Brand Excellence Awards
  • Best festive décor
  • Best Retail Estate Developer Shopping Malls (HSP and Palladium)- Phoenix Market City, Bangalore
  • Best Thematic Decoration Tallest Christmas Tree in the Country A Times Network 2018- The Time Trailblazers Award
  • Excellence and Leadership in Branding & Marketing Market Leadership Award
  • Most Luxurious Shopping Destination of the year (Palladium)- Phoenix MarketCity and Palladium Chennai
  • Best Shopping Mall (PMC Chennai)
  • Shopping Centre (Luxury) (Palladium Chennai)
  • Bengaluru Brand Summit & HOT Brands 2019- Residential Kessaku

2020

  • Most admired shopping centre of the year - marketing and consumer promotions
  • Shopping centre of the year
  • Most admired shopping centre of the year - Retailers Choice (Palladium)
  • Shopping centre of the year Luxury West (Palladium)
  • Best Retail Estate Developer Shopping Malls (HSP and Palladium)
  • Best IP of the year - Phoenix Festival Season 2
  • Most Admired Marketing Campaign of the Year - Holiday Land Most admired shopping centre of the year- Phoenix Market City, Bangalore
2021

  • Food Court of the year 2021
  • Images Most Admired 2021
2022

  • Iconic Shopping Centre of the Year 2022
2024

  • Most admired marketing campaign of the year: CMO Asia 2024
  • Food Court of the year 2024: Food Connoisseurs India Awards
2025

  • Award for Brand Excellence in Shopping Malls: Gujarat State Leadership Awards 2025
  • Most Admired Shopping Centre of The Year: IMAGES Award 2025
  • National Awards for Excellence in Shopping Malls 2025

Milestones

  • 1905: The Phoenix Mills Limited commences operations as a textile manufacturing company on 17.3 acres land at Lower Parel in Mumbai, with the objective of manufacturing cotton textile goods.
  • 1959: The Phoenix Mills Limited, owned by the Ruia family, was listed on the Bombay Stock Exchange.
  • 1986: Made operational Phoenix House commercial centre.
  • 1987- The company entered into the growing real estate market where High Street Phoenix emerged as the most frequented destination in Mumbai.
  • 1996: Opened doors to The Bowling Co., India’s first bowling company with the largest 20-lane bowling concourse and gaming arcade, sports bar and night-club Fire & Ice, to add the crucial element of entertainment to the burgeoning HSP Complex.
  • 2001: Introduced India ‘s first hyper market concept with the launch of Big Bazaar’s first store at the High Street Phoenix, Mumbai, along with Food Bazaar. With this, HSP gradually emerged as a model for India in terms of retail-led development centres.
  • 2003: Launched Pantaloons and Lifestyle departmental stores within the HSP Complex, each covering approximately 50,000 sq. ft. of retail shopping.
  • 2004: The High Street Phoenix Complex announced the launch of a multi-levelled SkyZone with anchor stores of leading national and international brand retail outlets.
  • 2005: The Phoenix Group celebrated its centenary, 100 years of commencing operations as a textile mill in 1905. With a heritage lasting over 10 decades, the group is proudly credited with having catalysed a wave of shopping revolution in India.
  • 2006: Announced the launch of Palladium Hotel, a five-star luxury hotel, with a first-of-its-kind sky lobby. Set up a 7-screen multiplex within the HSP Complex at Lower Parel.
  • 2007: Announced development of four Phoenix Marketcity Malls in Pune, Bengaluru, Mumbai and Chennai.
  • 2009: Launched Palladium Mall, an architecturally designed first-of-its-kind super luxury premium and iconic mall in High Street Phoenix Complex, housing super luxury national and international brands. Launched East Court within the Phoenix Marketcity ecosystem in Pune, housing a blend of retail and commercial spaces.
  • 2011: Launched Phoenix MarketCity at Pune, located in close proximity to the emerging upper middle-income group residential areas. Launched Phoenix MarketCity at Whitefield, Bengaluru’s IT hub, and Phoenix Marketcity in Kurla, a mixed-use development asset in the eastern suburb of Mumbai, with over 300 national and international brands.
  • 2012: Launched Palladium Hotel, a five-star luxury hotel, nestled above the premium Palladium Mall within the High Street Phoenix Complex. Launched One Bangalore West at Bengaluru, with 30-storey high-rise towers combining luxury and comfort. Launched Art Guild House and Phoenix Paragon Plaza, state-of-the-art commercial complexes within Phoenix Marketcity, Mumbai.
  • 2013: Launched Phoenix Marketcity Mall at Velachery, Chennai, a mixed use asset with 300-plus stores and four-and-a-half levels of shopping area, marking the convergence of shopping, dining, entertainment, art, architecture and design.
  • 2014: HSP Complex clocked an average ticket size per customer of ` 700, as total footfalls jumped to 19.5 million. The monthly average footfall jumped to over 1.6 million vis-à-vis 1.4 million in the previous year.
  • 2015: Launched Courtyard by Marriott at Agra; exclusive luxury residential project at Bengaluru and operationalised 5 in-house F&B outlets at some of its retail assets.
  • 2016: The St. Regis, Mumbai, the premiere most brand in Starwood Hotels portfolio begins operations from Sept’15. PML raised Rs 2,830 mn via Qualified Institutional Placement (QIP) in July 2015.
  • 2017: Partnered with CPPIB to develop, own and operate retail-led mixed-use developments across India through its 100% subsidiary that houses Phoenix MarketCity, Bengaluru (ISMDPL). CPPIB to invest over Rs 16 Billion in ISMDPL.
  • 2018: Acquired two brownfield and three greenfield land parcels with estimated Retail GLA of 4.9 Msft and additional development potential of 2.8 Msft.
  • 2019: Growth of retail profile from 6.9 msf to 12 msf
  • 2020: Phoenix Palassio, Lucknow became operational in record time of 24 months from the acquisition date with Retail GLA of 0.9 msft.
  • 2020: Successfully raised Rs 11,000 mn of equity capital by the way of QIP from marquee investors.
  • 2021: The Phoenix Mills and CPP Investments Collaborate to Develop Mixed-use Asset in Lower Parel, Mumbai
  • 2021: The Phoenix Mills & GIC Form a Strategic Retail Led Mixed Use Platform in India.
  • 2022: Phoenix Mills announces opening of Phoenix Citadel, Indore.
  • 2023: The Phoenix Mills announces the opening of “Phoenix Mall of Asia” at Hebbal, Bengaluru, Karnataka on October 27, 2023.
  • 2023: The Phoenix Mills announces opening of 'Phoenix Mall of the Millennium,' at Wakad, Pune.
  • 2024: Casper Realty, a wholly owned subsidiary of The Phoenix Mills, has been declared as the highest bidder for two prime city-centric plots in Mohali, Punjab.
  • 2024: The Phoenix Mills announces acquisition of a city-centric land parcel in Coimbatore, Tamil Nadu, for developing a premium retail destination.
  • 2025: The Phoenix Mills elevates Shishir Shrivastava as Non-executive Vice Chairman.
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