We present a case of a 64-year postmenopausal woman who presented with right breast lump of 6 months duration which was increasing in size. She is a known case of multiple myeloma for which she is on chemotherapy. Wide local excision revealed malignant phyllodes tumour with osteosarcomatous and liposarcomatous components which were confirmed with SATB2 and MDM2 positivity. Here we are emphasizing the importance of recognising this entity because of the poor prognosis.