August, 12, 2026
Prime Lands Residencies PLC (CSE: PLR.N), Sri Lanka’s leading listed real estate developer, has commenced FY2027 with a strong financial performance, recording significant year-on-year growth across key profitability indicators for the three months ended 30 June 2026.
The Company reported revenue of Rs. 4.59 billion for the quarter, representing a 98% increase compared to Rs. 2.32 billion recorded during the corresponding period of the previous year. Gross profit increased by 76% year-on-year to Rs. 1.21 billion, while operating profit rose by an impressive 92% to Rs. 857.1 million, reflecting the continued strength of the Company’s core operations.
Profit before taxation increased by 61% year-on-year to Rs. 879.0 million, while profit after tax grew by 65% to Rs. 661.6 million, compared to Rs. 400.5 million recorded in the first quarter of FY2026. Earnings per share correspondingly increased by 65% to Rs. 0.71, from Rs. 0.43 in the comparative period.
Reflecting on the Company’s strong start to FY2027, Group Chairman Premalal Brahmanage stated that the latest results demonstrate the resilience of Prime Lands Residencies PLC’s business model and the strength of its growing residential development portfolio. He noted that the Company remains focused on maintaining disciplined execution, delivering quality developments and creating sustainable long-term value for customers and shareholders.
The quarter’s performance was supported by strong revenue growth, with the Company continuing to build on its established position in Sri Lanka’s residential real estate sector. The strong improvement in operating profit also reflects the Company’s ability to translate top-line growth into enhanced operating profitability.
Strong Financial Performance Across Key Indicators
Revenue Growth: Revenue increased by 98% year-on-year to Rs. 4.59 billion, compared with Rs. 2.32 billion in the corresponding quarter of FY2026.
Gross Profit Expansion: Gross profit grew by 76% to Rs. 1.21 billion, compared with Rs. 688.2 million in the previous corresponding period.
Operating Profit Growth: Operating profit increased by 92% to Rs. 857.1 million, compared with Rs. 446.9 million in Q1 FY2026.
Profit After Tax Growth: Profit after tax increased by 65% to Rs. 661.6 million, compared with Rs. 400.5 million in the corresponding period of the previous year.
Enhanced Earnings Per Share: EPS increased by 65% year-on-year to Rs. 0.71, reflecting the Company’s improved profitability and continued value creation for shareholders.
Strengthened Financial Position and Cash Generation
The Company also demonstrated improved operating cash generation during the quarter. Net cash generated from operating activities amounted to Rs. 1.51 billion, compared with net cash used in operating activities of Rs. 5.79 billion in the previous financial year. Cash and cash equivalents stood at Rs. 2.69 billion as at 30 June 2026.
At the same time, the Company continued to demonstrate its commitment to shareholder returns, with Rs. 750 million in dividends paid during the quarter, as reflected in the statement of changes in equity and cash flows.
As at 30 June 2026, Prime Lands Residencies PLC maintained a strong public shareholder base of 12,252 shareholders, with public shareholding standing at 24.71%. The Company’s market capitalization stood at Rs. 41.63 billion as at the quarter-end.
The Company’s Executive Chairperson Sandamini Perera stated, “Our Q1 FY2027 performance is a strong reflection of the confidence placed in Prime Lands Residencies by our customers, shareholders and wider stakeholders. As we move forward, our focus remains firmly on disciplined growth, excellence in execution and creating enduring value through quality residential developments.”
Prime Lands Residencies PLC enters the remainder of FY2027 from a position of strong financial momentum, supported by its established market presence, growing development platform and continued demand for quality residential real estate. The Company remains committed to strengthening its market leadership while delivering sustainable value to all stakeholders.
The interim financial statements for the three months ended 30 June 2026 were authorised for issue by the Board of Directors on 7 August 2026.
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