Market sources in the "Manchester of Southern India" - Coimbatore city have confirmed that one of India's largest mall chains Phoenix Marketcity has acquired a large tract of land parcel in a prime location.
The upcoming mall is located near Hotel Radisson and is just a few metres away from the famed Avinashi Road, the arterial stretch spanning nearly 15kms that connects the entire city.
Phoenix Mills Ltd. Operates a dozen malls across India at Mumbai, Bangalore, Chennai, Pune, Ahmedabad, Indore, Lucknow and Bareily.
The company reported revenues of INR 12,327 Cr for the period 9M FY26, up 17% over the same period last year, with an operating EBITDA of INR 1,664 Cr, up 10% over last year.
Phoenix Palladium located at Mumbai reported revenues of INR 1,936 Cr for 9M FY 26 while Phoenix Marketcity Chennai reported INR 1,261 Cr for the same period.
The two malls of Phoenix MillsLtd. located at Bangalore, viz., the Phoenix Marketcity at Whitefield and the Mall of Asia at Hebbal together reported revenues of over INR 3,000 Cr for 9M FY 26.
The shopping centre located at Pune, the Phoenix Mall of the Millennium posted the highest annual growth of 29%, taking the 9M FY26 revenues to INR 1,104 Cr.
Editor's Note
If market sources are to be believed, the Phoenix Mall at Coimbatore will add more arsenal to the huge disposable incomes in the region.
The Kongu-region, known as the textile belt of Tamil Nadu is among the top in terms of contribution to State GDP.
The DMK Government meanwhile, is pushing towards a USD 1 Trn state economy by 2030 under the guidance of Chief Minister Stalin.
If market-rumours are to be believed, the Phoenix Coimbatore Mall with an estimated size of 9 lakh sq ft, will be bigger than the existing popular malls of the city - Brookfields and Prozone put together!
The upcoming shopping-dining-entertainment facility is said to house top international brands and Indian brands all under one roof.
With several firsts to the city such as a 10-screen multiplex, anchor-department stores across apparel, home improvement, etc, the centre is estimated to have over 350-400 vanilla stores.
A dozen specialty restaurants, a food court that could house over 1,000 people and a parking facility of 800 vehicles including 2W and 4W are in the making, as per local trackers.