Prime Lands Residencies 3Q profit jumps 144% on stronger margins, faster project execution

Group Chairman Premalal Brahmanage

Co-Chairperson Sandamini Perera

Prime Lands Residencies PLC (PLR) delivered a standout third-quarter performance for the period ended December 31, 2025, posting a sharp earnings growth as construction progress accelerated in key projects and margins improved, keeping the investor expectations firmly intact.

The developer reported a quarterly revenue of Rs.2.80 billion, up 43 percent year-on-year (YoY), largely supported by the faster execution in the Tower C of The Border Colombo project and first-time revenue recognition from The Seasons Colombo 08. 

While Prime has launched multiple large-scale developments over the past two years, including J’adore Negombo, Mon Vie Colombo 05, Prime Colombo 09 and The Golf Colombo 08, the revenue from these newer projects is yet to flow through the income statement, in line with the construction milestone-based recognition, pointing to the potential earnings upside over the coming years.

Profitability strengthened markedly during the quarter. Gross profit more than doubled, rising 111 percent to Rs.1.05 billion, reflecting stronger project margins and improved operational efficiency. The company attributed this to economies of scale achieved through reputed construction partners, better tender management, stronger procurement planning and faster timelines. 

The Tower C’s topping-off milestone was reached four months ahead of schedule, underscoring the execution momentum.

Operating profit climbed 147 percent to Rs.730.9 million, despite a Rs.200 million contribution by the Prime group to the Rebuilding Sri Lanka Fund, of which PLR accounted for Rs.100 million.

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