Prime Lands Residencies reports 24% revenue growth, earnings jump 72%

Prime Lands Residencies PLC, Sri Lanka’s only listed and fully locally owned real estate company, reported a sharp rise in revenue and earnings for the quarter ended September 30, 2025.

Revenue for the quarter climbed 24 percent year-on-year to Rs.2.84 billion, while gross profit rose 52 percent to Rs.922.7 million. Operating profit increased 63 percent to Rs.657.7 million and profit before tax jumped 74 percent to Rs.744.4 million. Earnings per share advanced 72 percent to Rs.0.58, from Rs.0.34 in the same period last year.

For the first half of FY2025/26, total revenue reached Rs.5.15 billion and profit after tax stood at Rs.940.7 million.

The shareholders’ equity strengthened to Rs.10.3 billion by end-September, with retained earnings up to Rs.6.87 billion. The company’s share price rebounded strongly, closing the quarter at Rs.34.20 — more than double the previous quarter’s Rs.15.70, boosting its market capitalisation to Rs.31.9 billion.

“This quarter’s results are a clear validation of our long-term strategy — focusing on timely delivery, transparency and creating real value for our customers and shareholders,” said Prime Group Chairperson and Executive Director of PLR Sandamini Perera. 

Chairman and Executive Director Premalal Brahmanage said the group, marking over three decades in the sector, remains committed to “responsible growth, driving urban transformation through high-quality developments that appreciate in value, while upholding our promise to deliver more than we promise.”

Listed on the Colombo Stock Exchange in 2021, Prime Lands Residencies is the condominium real estate arm of the Prime group and manages over 47 projects across Sri Lanka.