Prime Lands Residencies PLC reports significant revenue growth in the 3rd quarter of the 2025/26 financial year, further consolidating its financial strength and growth momentum.

Prime Lands Residencies PLC (CSE: PLR) has managed to maintain its shareholders’ expectations by reporting strong financial performance for the quarter ended December 31, 2025. The company’s share price has increased by over 40% in the last 3 months, which is a good indication of the growth in investor confidence. Over the past 2 years, the company has implemented a number of large-scale projects such as 3 towers of The Border Colombo project (484 units), J’adore Negombo (333 units), The Golf Colombo 08 (64 units), Mon Vie Colombo 05 (349 units), Prime Colombo 9 (559 units) and The Seasons Colombo 08 (44 units), which has resulted in continued high market confidence in the company.

Revenue for the quarter increased by 43% year-on-year to Rs. 2.80 billion. The Colombo Border project’s Tower C construction progress accelerated, exceeding its estimated revenue. The Seasons – Colombo 08 project also recorded its first revenue in the financial statements this quarter, as it exceeded the minimum construction percentage for revenue recognition. Due to the company’s prudent policy regarding new projects, the revenue from other newly launched projects has not yet been included in these financial results. Therefore, there is more room for revenue growth in the coming periods.

The company’s gross profit has more than doubled, or 111%, compared to the corresponding period of the previous year, to Rs. 1.05 billion. This remarkable growth was mainly driven by improved operational efficiency of the projects, cost efficiency through collaboration with reputable construction companies in the country, strategic steps in tender management, improved procurement planning and accelerated construction. In particular, the completion of Tower C 4 months ahead of schedule is a significant achievement.

Prime Group is donating Rs. 200 million to the ‘Rebuilding Sri Lanka’ fund, of which Rs. 100 million was donated by Prime Lands Residencies PLC. Even after the donation, the company’s operating profit grew by a whopping 147% compared to the corresponding period of the previous year to Rs. 730.9 million.

The company's profit after tax for the quarter under review increased by 144% to Rs. 562.3 million compared to the previous year, indicating a strong earnings trend. This trend is expected to further increase in the coming period as the recently launched projects will start reporting revenues in the next 36 months. Prime Lands Residencies PLC has managed to report these outstanding results in the 3rd quarter while maintaining a strong performance in the 9-month period ended 31st December 2025. Due to the implementation of the above-mentioned operations and projects, revenue during the 9-month period under review grew by 24% to Rs. 7.95 billion compared to the corresponding period of the previous year, while gross profit increased by 63%. Profit after tax for the nine-month period increased by 68% year-on-year to Rs. 1.50 billion.

Earnings per share for the quarter were Rs. 0.60, while earnings per share for the last 12 months were Rs. 1.96. The share price-earnings ratio remained well above the average for the overall stock market and the real estate sector, reflecting investor optimism about future earnings growth.

Chairman’s Comments:

“This strong performance by the company is a testament to the trust our customers have placed in the Prime brand over the past 30 years. Prime Lands has been in business for 30 years and has built a reputation for customer loyalty ever since, and Prime Lands Residency PLC has taken that journey to the next level. We remain focused on delivering the highest quality property development services while maintaining financial discipline and operational efficiency,” said Prime Group Chairman Premalal Brahmanage.

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Mr. Premalal Brahmanage

Chairman

Prime Group

Mrs. Sandamini Perera

Co-Chairman

Prime Group