Prime Lands Residencies PLC (CSE: PLR.N) has reported an outstanding financial performance for the year ended 31 March 2026. Substantially exceeding market expectations, the Company reinforced its position as Sri Lanka’s undisputed real estate leader, propelled by massive operational scale, strategic project launches, and historic margin expansion.
Reflecting on this exceptional performance, Group Chairman Premalal Brahmanage stated that the stellar results of FY2026 serve as a definitive reflection of the unyielding trust customers have placed in the Prime brand.
Further emphasizing the Company’s strategic direction, Executive Chairperson Sandamini Perera stated, “At Prime Lands Residencies PLC, we are driven by a singular vision to go beyond boundaries in redefining urban living, delivering exceptional real estate value, and shaping lifestyle experiences that transcend expectations”. She noted that as a trailblazer in Sri Lanka’s real estate landscape, the Company consistently combines local expertise with global aspirations to create homes and investments that endure.
In a profound demonstration of financial strength and commitment to shareholder returns, the Board of Directors declared an Interim Cash Dividend of Rs. 0.80 (Eighty Cents) per ordinary share for the year ended 31 March 2026. The ex-dividend date is set for 09 June 2026, with the payment dispatch scheduled for 26 June 2026.
Among exceptional key financial highlights : Profit after tax (PAT) increased by 65% YoY to Rs. 558.4 million for the quarter ended 31 March 2026, while full-year PAT grew by 67% YoY to Rs. 2.06 billion, demonstrating the Company’s ability to translate revenue growth into enhanced profitability. Revenue growth, supported by project completions and successful handovers, resulted in quarterly gross profit increasing by 47% YoY to Rs. 1.17 billion, while full-year gross profit rose by 58% YoY to Rs. 3.82 billion. Operating profit increased by 63% YoY to Rs. 856.1 million during the quarter, while full-year operating profit grew by 69% YoY to Rs. 2.69 billion, reflecting stronger core business performance and improved operating leverage. Quarterly EPS improved by 64% YoY to Rs. 0.59, while full-year EPS increased significantly to Rs. 2.20 from Rs. 1.31, highlighting strong value creation for shareholders. Total assets increased to Rs. 36.8 billion as at 31 March 2026, supported by the expansion of inventory properties, which includes a strategic land bank of Rs. 11.1 billion to support the company’s future projects, and the Company’s growing development pipeline.
Net asset value (NAV) per share increased to Rs. 12.20, reflecting the Company’s stronger equity position and continued value accretion for shareholders.
Source: Daily News