Overseas Realty (Ceylon) PLC recorded a Group Revenue of Rs. 4,933 million for nine months ended September 30, 2021, an increase of 75% over the corresponding period oflast year.
The Group Profit After Tax increased by 18% to Rs 1,603 million. Rs1,559 million revenue was recorded from Property Leasing at the World Trade Center(WTC). The refurbishment and upgrading program of common facilities at WTC Colombo was completed to provide superior facilities and services to tenants and visitors.
It is a strong testament to the Company’s dedication and commitment to excellence, in providing quality office space. During the 9 months, revenue of Rs 2,967 million was recorded from Sale of Apartments compared to Rs 786 million in the previous period. With the successful completion of the fourth and final phase and having obtained the COC from the UDA, Havelock City is currently handing over completed apartment units to its buyers. A limited number of move-in ready apartments are also available in both Phase 3& 4 for immediate occupancy. The construction of the Havelock City Commercial complex comprising a 50 storey Grade A Office Tower; Mireka Tower and an International Standard Shopping Mall with a range of retail, F&B and entertainment options are substantially completed and is expected to open mid-2022. Pre-leasing of space at both the office tower and mall has commenced.
The Group Net Asset Value per Share as at September 30, 2021 stood at Rs 37.15 and the earnings per share for 9 months was Rs 1.29.
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