India's Phoenix Mills hits one-month low after Q1 results miss expectations

The Phoenix Mills

29/07/2026 06:27

** India's Phoenix Mills PHOE.NS drops 6.3% to one-month low of 1,896 rupees
** Set for biggest daily pct drop since May 2025
** Analysts say real estate firm's Q1 earnings miss expectations
** Co's consolidated Q1 revenue up 13% year-on-year, while profit rises 23%
** Nomura says mall operator's earnings miss due to slower-than-expected growth in retail rental income and lower revenue recognition from residential segment
** More than 1 million PHOE shares change hands so far, ~1.3x of 30-day average daily volume
** Analysts await further details on Q1 earnings and commentary from company at post-earnings call scheduled at 11:00 a.m. IST
** Stock rated "Buy" on average by 20 brokerage firms, median PT at 2,015 rupees, per data compiled by LSEG
** YTD, PHOE up 3.4%

 (Reporting by Vivek Kumar M)
 ((VivekKumar.M@thomsonreuters.com;))