Overseas Realty Records Rs 1 Bn Profit Before Tax for 1st Quarter 2025.

Overseas Realty (Ceylon) PLC recorded a Group Revenue of Rs 2,438 Mn and a Group Profit Before Tax of Rs 1,060 Mn for the 1st quarter ending 31st March 2025. The depreciation of the LKR resulted in a net exchange loss of Rs 136 Mn on foreign currency loans.

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

Revenue of Rs 560 Mn 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 a Revenue of Rs 480 Mn compared to Rs. 173 Mn in the corresponding period of last year due mainly to higher occupancy.  Havelock City Mall, recorded a Revenue of Rs 479 Mn compared to Rs. 177 Mn 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.