Overseas Realty records Rs. 1 bn PBT in 1Q25

Overseas Realty (Ceylon) PLC recorded a Group Revenue of Rs. 2,438 million and a Group Profit Before Tax of Rs. 1,060 million for the first quarter ending 31st March 2025 (1Q25). 

The depreciation of the Lankan Rupee resulted in a net exchange loss of Rs. 136 million on foreign currency loans.

The Company Revenue of Rs. 704 million at the World Trade Center, Colombo, was 8 percent higher than the corresponding quarter of last year, due mainly to higher occupancy and rental rates.   

Revenue of Rs. 560 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.

Mireka Tower at Havelock City, offering distinctive workspaces, recorded revenue of Rs. 480 million compared to Rs. 173 million in the corresponding period of last year due mainly to higher occupancy. 

Havelock City Mall, recorded revenue of Rs. 479 million compared to Rs. 177 million in the corresponding period of last year due mainly to higher occupancy.

The Group Net Asset Value per Share as of 31st March 2025 stood at Rs. 48.10 and the Earnings per Share for the period was Rs. 0.78.