The Phoenix Mills Limited Reimagines Phoenix MarketCity Pune as Phoenix Avenue of Stars

• Phoenix MarketCity Pune rebranded as Phoenix Avenue of Stars with premium façade overhaul and design upgrades.

• Mall now features 300+ stores including UNIQLO, IKEA (Pune's first), Michael Kors; Coach, Hugo, Swatch, Lego coming soon.

• The premiumisation reflects Phoenix Mills' strategy to elevate retail destinations aligned with evolving consumer aspirations in Western India.

The identity reflects a landmark shaped by globally admired brands, contemporary design, elevated dining and entertainment, and the aspirations of a city that continues to grow as one of India’s leading consumption and lifestyle hubs.

Pune, India 23rd May 2026: The Phoenix Mills Limited (PML, the Company) has announced the transformation of Phoenix MarketCity Pune into Phoenix Avenue of Stars, marking a significant milestone in the evolution of one of Pune’s most prominent retail and lifestyle assets. The reimagining reflects PML’s broader strategy of continuously upgrading and premiumising its destinations in line with changing consumer aspirations and evolving urban consumption patterns.

Over the years, Phoenix MarketCity Pune has grown into one of the city’s defining retail and leisure hubs, shaping consumer engagement across fashion, dining and entertainment. The transformation into Phoenix Avenue of Stars marks the next phase of this evolution, anchored by a distinct architectural identity, enhanced customer touchpoints, premium retail curation aligned with the scale and stature of the asset today.

The new identity draws inspiration from marquee international brands, refined spatial design, immersive, vibrant and social environments that continues to define Pune’s evolving lifestyle ecosystem. The transformation further strengthens the asset’s position as one of Western India’s leading retail and leisure addresses, attracting shoppers and visitors from across the region.

As part of this transformation, the asset has undergone a comprehensive revamp including a grand arrival experience, façade enhancement and several design-led interventions that elevate its overall visual and spatial character. The repositioning also reflects PML’s focus on developing globally benchmarked environments that combine retail, dining and entertainment within mixed-use urban developments.

Phoenix Avenue of Stars today houses an extensive portfolio of internationally recognized and premium brands including UNIQLO, Michael Kors, Victoria’s Secret, Shantanu and Nikhil, Paul’s CafeArmani Exchange etc., while further strengthening its mix through curated luxury watch and jewellery zones, gourmet dining and upgraded experiential formats. The asset also recently welcomed Pune’s first IKEA store and is set to introduce global luxury fashion house Coach,Hugo, Swatch and Lego further enhancing its premium retail mix.

Beyond retail, Phoenix Avenue of Stars continues to redefine the urban experiences through marquee events, immersive brand engagements, elevated dining, and entertainment initiatives that resonate with the pulse of a rapidly evolving city. The transformation brings together these elements under a more future-forward identity that reflects the asset’s scale, positioning and long-term growth trajectory.

Commenting on the transformation, Rashmi Sen - Whole Time Director and CEO Malls, The Phoenix Mills Limited said: “Phoenix MarketCity Pune has evolved significantly alongside the city’s growth over the years. The transformation into Phoenix Avenue of Stars reflects our continued commitment towards enhancing and premiumising our retail destinations in line with changing consumer aspirations and global benchmarks. With upgraded infrastructure, a stronger design language, an elevated brand portfolio and differentiated customer engagement, Phoenix Avenue of Stars represents the next chapter in PML’s vision of creating world-class urban retail environments.” About Phoenix Avenue of Stars Phoenix Avenue of Stars, formerly known as Phoenix MarketCity Pune, is located in Viman Nagar, Pune. Opened in 2011, the development has evolved into one of Pune’s leading retail and lifestyle destinations, serving a large and growing catchment across the city and neighbouring markets.

Spread across approximately 1.2 million square feet, the destination houses over 300 stores across fashion, beauty, dining, entertainment and lifestyle categories, along with a diverse mix of international and national brands. Over the years, the asset has consistently evolved in line with changing consumer preferences through curated retail expansion, experiential programming and infrastructure enhancement initiatives.

About The Phoenix Mills Limited PML (BSE: 503100 | NSE: PHOENIXLTD) is India’s leading owner, operator and developer of retail-led mixed-use destinations. PML Group’s developments are spread across retail, hospitality, commercial offices and residential asset classes.

PML and its subsidiaries have an operational retail portfolio of over 11 million square feet of chargeable retail area across eight major cities in India and are further developing approximately 7 million square feet of chargeable retail space across five new malls and expansions of existing retail destinations.

PML’s mixed-use destinations also include Grade A office developments with a completed office portfolio GLA of approximately 4.8 million square feet across Mumbai, Pune, Bengaluru and Chennai. The Company also has an additional pipeline of approximately 4 million square feet currently under planning at existing mixed-use destinations.

In the hospitality segment, PML owns two premium hotels totalling 588 keys, including the flagship The St. Regis Mumbai. The Company is currently developing Grand Hyatt Bangalore with approximately 400 keys, while additional hospitality projects with nearly 1,200 keys are under planning across select locations.

Till date, PML has successfully delivered over 3.5 million square feet of premium residential developments in Chennai and Bengaluru. The Company is currently executing an approximately 1 million square feet premium residential project in Alipore, Kolkata, and has an under-planning residential pipeline of approximately 2.5 million square feet across key metro cities at existing locations.

With a pan-India presence and a proven track record of creating landmark mixed-use environments, PML continues to redefine urban development by integrating retail, dining, entertainment, hospitality, workspaces and residential offerings into vibrant city-shaping destinations.

Disclaimer Certain statements in this communication may be ‘forward looking statements’ within the meaning of applicable laws and regulations. These forward-looking statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those suggested by the forward-looking statements. Important developments that could affect the Company’s operations include changes in the industry structure, significant changes in political and economic environment in India and overseas, tax laws, import duties, litigation and labour relations. The Phoenix Mills Ltd. (PML) will not be in any way responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances.