Overseas Realty posts Rs. 6.9 b PBT in 9M 2026

Friday, 30 October 2026 00:02 - - {{hitsCtrl.values.hits}}

Chairperson Dr. Ranee Jayamaha (left) and Group CEO/Director

Pravir Samarasinghe

Overseas Realty (Ceylon) PLC recorded a group revenue of Rs. 10.15 billion and a group Profit Before Tax (PBT) of Rs. 6.9 billion for nine months ending 30 September 2026. The Fair Value Gain recorded from investment properties was Rs. 1.1 billion compared to a Fair Value Gain of Rs. 2.3 billion for the same period of last year.

The company’s revenue of Rs. 2.7 billion at the World Trade Center, Colombo, was 28% higher than the corresponding period, due mainly to higher occupancy and rental rates.

Revenue of Rs. 990 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. 3.4 billion and Rs. 1.9 billion respectively, representing increases of 70% and 21% 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, completed the pilling works in September 2026 and after obtaining all government regulatory approvals the main construction contract was awarded to Sunken Construction in October 2026.

The company also announced the launch of Havelock City Residences, the fifth and final phase of Havelock City, bringing the vision of one of Colombo’s most prestigious integrated mixed-use developments closer to completion.

Set across 18 acres, Havelock City is distinguished by seven acres of beautifully landscaped gardens-the largest single enclosed green space in Asia. Designed by internationally acclaimed P&T Group, Singapore, Havelock City Residences offers spacious two-, three-, and four-bedroom apartments, alongside expansive penthouses, thoughtfully planned to maximise natural light, ventilation, privacy, and views.

Group CEO/Director Pravir Samarasinghe 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”.

Group net asset value per share as of 30 September 2026 stood at Rs. 56.32 and earnings per share for the period was Rs 5.12.