Overseas Realty records Rs. 6.8 b PBT for 9 months

Monday, 27 October 2025 03:09 - - {{hitsCtrl.values.hits}}

Chairperson Dr. Ranee Jayamaha

Group CEO/Director Pravir Samarasinghe

Overseas Realty (Ceylon) PLC has recorded a group revenue of Rs. 8,984 million and a group Profit Before Tax (PBT) of Rs. 6,809 million for 9 months ending 30 September 2025.

The depreciation of the Rupee resulted in a net exchange loss of Rs.313 million compared to a gain of Rs. 1,463 million recorded in the corresponding period of last year. Net fair value gain recorded from investment properties was Rs. 2,331 million compared to the fair value gain of Rs. 1,160 million recorded in the same period of last year.

The company revenue of Rs. 2,124 million at the World Trade Center, Colombo, was 7% higher than the corresponding period of last year, due mainly to higher occupancy and rental rates.

Revenue of Rs. 2,481 million was recorded from residential sales of Havelock City which was higher than the corresponding period in 2024. A limited number of move-in ready luxury apartments are still available for purchase in the fourth and final phase of Havelock City residential.

Mireka Tower at Havelock City reported a revenue of Rs. 1,990 million, a significant increase from Rs. 812 million recorded in the same period of last year, primarily driven by higher occupancy levels. Similarly, Havelock City Mall generated Rs. 1,538 million in revenue, up from Rs. 1,050 million in the comparable period of last year, mainly attributed to increased occupancy.

The Company officially launched its newest luxury real estate venture, Mireka Seascape, in Dodanduwa, redefining coastal luxury. The development comprise a collection of 168 luxury apartments and villas. Positioned as a premium lifestyle beachfront offering, the project is designed to cater to both residential and leisure markets. This high yielding investment opportunity has generated substantial market response since launch.

The group net asset value per share as at 30 September 2025 stood at Rs. 51.17 and the earnings per share for the period was Rs. 5.20.