Sri Lanka, April 26 -- Overseas Realty (Ceylon) PLC recorded a Group Revenue of Rs 1,681 Mn and a Group Profit Before Tax of Rs 1,825 Mn for the 1st quarter ending March 31, 2024. The appreciation of the LKR resulted in a net exchange gain of Rs 1,313 million on foreign currency loans.

The Company Revenue of Rs 652 Mn at the World Trade Center, Colombo, was 9% higher than the corresponding quarter of last year, due mainly to higher occupancy and rental rates. Revenue of Rs 338 Mn was recorded from Residential Sales of Havelock City which was higher than the corresponding period in 2023. Although apartment sales were low due to depressed economic conditions and higher prices, the gradual reduction in interest rates is generating higher sa...