Overseas Realty (Ceylon) PLC reported group revenue of Rs 10.15 billion and pre-tax profit of Rs 6.9 billion for the nine months to 30 September 2026.
The result includes a fair value gain on investment properties of Rs 1.1 billion, down from Rs 2.3 billion in the same period last year, the Daily FT reported. That matters to how the headline profit should be read: a smaller revaluation gain means more of this year’s pre-tax figure comes from trading rather than from marking property upward.
Where the revenue came from
| Asset | 9M revenue | Change on 2025 |
|---|---|---|
| Mireka Tower | Rs 3.4 bn | up 70% |
| World Trade Center, Colombo | Rs 2.7 bn | up 28% |
| Havelock City Mall | Rs 1.9 bn | up 21% |
| Havelock City apartment sales | Rs 990 mn | lower |
The company attributed the increases at Mireka Tower, the World Trade Center and Havelock City Mall to higher occupancy and improved rental rates. Apartment sales fell because of a limited number of units available for sale, rather than weaker demand.
Net asset value per share stood at Rs 56.32 at 30 September 2026, and earnings per share for the period at Rs 5.12.
Development pipeline
Piling work on Mireka Seascape — 168 apartments and villas on the southern coast — was completed in September 2026, and the main construction contract was awarded to Sunken Construction in October after regulatory approvals.
The company also announced the launch of Havelock City Residences, the fifth and final phase of the 18-acre Havelock City development.
Group CEO and Director Pravir Samarasinghe said that with high occupancy across the investment properties and “strong recurring revenue streams,” the company “remains financially resilient” and was positioned to pursue new development opportunities.
Not reported
The filing gives no post-tax profit figure, no comparative revenue or pre-tax profit for the same period of 2025, and no debt position, so the year-on-year movement in the group result cannot be computed from it. It gives no value for the Mireka Seascape contract and no price points or unit count for Havelock City Residences.
Descriptions of the development’s landscaping and design in the release are the company’s own promotional characterisations and are not reproduced here.
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