Overseas Realty (Ceylon) PLC recorded a Group Revenue of Rs 3,292 Mn and a Group Profit Before Tax of Rs 1,926 Mn for the 1st quarter ending 31st March 2026. The depreciation of the LKR resulted in a net exchange loss of Rs 68 Mn on foreign currency loans compared to a loss of Rs. 136 Mn in the same period of last year.
The Company Revenue of Rs 780 Mn at the World Trade Center, Colombo, was 11% higher than the corresponding quarter of last year, due mainly to higher rental rates.
Revenue of Rs 556 Mn was recorded from Residential Sales of Havelock City which was lower than the corresponding period in 2025 due to limited number of units available for sale.
Mireka Tower and Havelock City Mall recorded revenue of Rs. 1,027 Mn and Rs, 585 Mn respectively, representing increases of 114% and 22% over the corresponding quarter of 2025. This performance was supported by higher occupancy levels and improved rental rates.
Mireka Seascape, located on the southern coast of Sri Lanka and comprising 168 luxury apartments and villas, was launched to the market in June 2025. The project has achieved strong market acceptance, reflecting its prime location, contemporary design, and lifestyle appeal. Pilling works has successfully commenced in the 2 nd Quarter of 2026.
Commenting on the results, Group Chief Executive Officer Pravir Samarasinghe stated that, “With high occupancy levels across all investment properties, strong recurring revenue streams, and robust asset base, the Company remains financially resilient. We are well positioned to accelerate the exploration of new development opportunities within the real estate sector to foster sustainable growth and deliver long term shareholder value”.
The Group Net Asset Value per Share as of 31st March 2026 stood at Rs 54.43 and the Earnings per Share for the period was Rs 1.47.