Prime Land Residencies reports 9-mth profit of Rs.1.15 bln

Prime Lands Residencies PLC (PLR) has made a profit after tax of Rs.1,158 million for the 9-month period ended FY 2021/22 while maintaining a profit after tax of Rs. 450 million for Q3 of FY 2021/22, the company said this week in a media release.

Commenting on the results, Co-Chairman Mr. Brahmanage Premalal said, “It has been a remarkable achievement for us in the third quarter as this has been achieved during such a turbulence period. This shows the trust and confidence placed on Prime Lands Residencies PLC by our customers who we are extremely grateful for. Moreover, this is also a significant achievement to us in terms of achieving our shareholder’s expectations as we exceeded the forecast given to our investors at the IPO launched this year.  These numbers signify that we will be ending the financial year with a remarkable achievement.”

Among the highlights reported by the company for the third quarter of 2021/22 is a revenue generation of Rs.2.6 billion. The company’s earnings per share (EPS) during the 9-month period was Rs.1.28. “Our brand equity is strong. As a real-estate developer, we have earned the highest trust. This is due to our completion and handing over of thirty-six (36) Apartment developments and building strong credentials along the way,” Co-Chairperson Sandamini Perera added.