Overseas Realty posts Rs. 4.8 b PBT in 1H

Friday, 24 July 2026 00:02 - - {{hitsCtrl.values.hits}}

Overseas Realty (Ceylon) PLC has recorded a Group Revenue of Rs. 6,775 million and a Group Profit Before Tax (PBT) of Rs. 4,767 million for 6 months ending 30 June 2026.

The Fair Value Gain recorded from Investment Properties was Rs. 1,091 million compared to a Fair Value Gain of Rs. 2,331 million for the same period of last year.

The Company’s Revenue of Rs. 921 million at the World Trade Center, Colombo, was 32% higher than the corresponding period, due mainly to higher occupancy and rental rates.

Revenue of Rs. 771 million was recorded from apartment sales at Havelock City which was lower than the corresponding period in 2025 due to limited number of units available for sale.

Mireka Tower and Havelock City Mall recorded a revenue of Rs. 2,155 million and Rs. 1,198 million respectively, representing increases of 95% and 22% over the corresponding period in 2025. This performance was supported by higher occupancy levels and improved rental rates.

Mireka Seascape, located on the southern coast of Sri Lanka, comprising 168 luxury apartments and villas, was launched to the market in June 2025. The project has achieved strong market acceptance, reflecting its prime location, contemporary design, and lifestyle appeal. Pilling work commenced in the 2nd Quarter of 2026.

A spokesperson from the Company said: “With high occupancy levels across all investment properties, strong recurring revenue streams, and robust asset base, the Company remains financially resilient. We are well positioned to accelerate the exploration of new development opportunities within the real estate sector to foster sustainable growth and deliver long term shareholder value.”

The Group Net Asset Value per Share as of 30 June 2026 stood at Rs. 54.67 and the Earnings per Share for the period was Rs. 3.60.