News & market updates

Ajit M. De S. Jayaratne, chairman of Overseas Realty (Ceylon) PLC, passed away yesterday at age 85. He had a long career including chairmanships at Forbes & Walker and the Colombo Stock Exchange and served as Sri Lanka’s High Commissioner to Singapore.

Overseas Realty (Ceylon) PLC launched Mireka Seascape, a 168-unit luxury coastal residential development in Dodanduwa. The resort-style project includes apartments, penthouses and villas with extensive amenities and will be managed by its wholly owned subsidiary, Realty Management Services.

Overseas Realty posted Group PBT of Rs. 1,060 million and Group revenue of Rs. 2,438 million for the quarter ended 31 March 2025. The Group recorded a net exchange loss of Rs. 136 million from rupee depreciation; NAV per share Rs. 48.10 and EPS Rs. 0.78.

Overseas Realty (Ceylon) PLC has signed a lease to relocate Unilever Sri Lanka’s Colombo headquarters to Mireka Tower at Havelock City. Mireka Tower is a 50-storey Grade A office tower, and the move supports demand for prime office space in the development.

Dividend · Rs 1.35 · XD Apr 24, 2025

First And Final dividend of LKR 1.35/share; XD 2025-04-24; record 2025-04-24; payable 2025-05-14; FY ending 31st December 2024

Overseas Realty recorded Group Profit Before Tax of Rs.6,616 million for the year ended 31 December 2024. Group revenue was Rs.8,024 million, aided by Rs.1,822m fair value gains, higher rental/sales at WTC, Mireka Tower and Havelock City Mall, and an LKR-related exchange gain.

Overseas Realty (OSEA.N0000) reported Group Profit Before Tax of Rs. 4,579 million and Group Revenue of Rs. 5,499 million for the nine months to 30 September. The group recorded a net exchange gain of Rs. 1,463m, a net fair value gain of Rs. 1,160m, NAV/share of Rs. 45.82 and EPS of Rs. 3.52.

Overseas Realty (Ceylon) PLC appointed Indrajit Wickramasinghe as an Independent Non-Executive Director. The company also announced the retirement of Tissa Kumara Bandaranayake, who served on the board for over 13 years.

Pravir D. Samarasinghe has been appointed Chairman of Hotel Developers (Lanka) Ltd., the owner of Hilton Colombo. He currently serves as Group CEO/Director of Overseas Realty (Ceylon) Plc.

The Sri Lanka–Singapore Business Council held its 27th AGM, re-electing Shiluka Goonewardene as President; Overseas Realty's Nirupa Peiris was re-elected as a Vice President and Brown & Company PLC and CIC Holdings PLC were welcomed to the committee. The Council plans another trade delegation to Singapore and highlighted sustainability, green financing and recent tax changes.