June, 3, 2026
Prime Lands Residencies PLC (CSE: PLR.N) has reported a outstanding financial performance for the year ended 31st 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.
By securing landmark assets such as the historic Otters Club Car Park property to develop 'The Elizabeth' in Colombo 07, and achieving massive structural milestones like the early topping-off of The Colombo Border, Tower Cosmos, the Company has fundamentally reshaped the landscape of urban living and solidified its domestic real estate portfolio.
He further emphasized the Company's profound focus on delivering high-quality developments, pioneering digital ecosystems for residents, and maintaining absolute financial discipline to drive continuous shareholder value.
This operational excellence has been definitively recognized by the crowning of Prime Lands Residencies PLC as the Developer of the Year - Sri Lanka, at the Real Estate Asia Awards 2026 - for the second consecutive year. This prestigious accolade serves as a powerful recognition of the Company's continuous innovation, its extensive portfolio featuring over 50 apartment projects launched and 45+ completed, and its undisputed market leadership on the Colombo Stock Exchange.
Furthermore, the Company's commitment to ethical business practices was validated by the securing of the TAGS Award 2024/25 in the Land and Property Companies category for the fourth consecutive year. This achievement is pivotal in highlighting transparency and progressive corporate reporting, and consolidating its position as the largest real estate entity listed on the Colombo Stock Exchange, maintaining consistent dividend payouts and a robust post-tax profit growth trajectory (driven by double-digit revenue expansions across its interim quarters).
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 31st March 2026. The ex-dividend date is set for 09 June 2026, with the payment dispatch scheduled for 26 June 2026.
Exceptional Key Financial Highlights
Strong Profit Growth: 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.
Robust Revenue and Gross Profit Expansion: 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.
Significant Operating Profit Growth: 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.
Enhanced Shareholder Returns: 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.
Strengthened Balance Sheet: 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.
Improved Shareholder Value: Net asset value (NAV) per share increased to Rs. 12.20, reflecting the Company's stronger equity position and continued value accretion for shareholders.
Positive Growth Outlook: The strong quarterly and annual performance, supported by ongoing project completions, an expanding development portfolio, strategic land acquisitions, and growing demand for residential properties, positions the Company well for sustained long-term growth.
Operational Excellence and Future Visibility
The aggressive top-line growth was primarily driven by accelerated construction progress across the portfolio, together with vital revenue recognition from recently completed developments such as the luxurious 43 by the Sea project on Marine Drive.
Market expectations remain highly elevated given the unprecedented scale of ongoing projects, including the topping-off of Tower Cosmos at The Colombo Border (a 484-unit development) four months ahead of schedule, alongside the rapid advancement of The Seasons Colombo 08. Revenue from newly launched ultra-luxury developments, including J’adore Negombo, MON VIE Colombo 05, The Prime Colombo 09, The Golf – Colombo 08 and The Elizabeth - Colombo 07, is yet to be recognized in line with the Company’s prudent revenue recognition policy, establishing an immense, highly visible earnings pipeline for upcoming fiscal periods.
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