Overseas Realty posts Rs. 788 m Q1 profit

Melissa Pereira · 1 Overseas Realty posts Rs. 788 m Q1 profit Wed May 13, 2015 9:13 am

Melissa Pereira

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Overseas Realty (Ceylon) PLC recorded a group profit after tax of Rs. 788 m, for the 1st Quarter ended March 31,2015, a marginal decline over the corresponding period of 2014. The Group registered a revenue of Rs. 1.1 bn, a decrease of 34% over the corresponding period of last year. The group revenue was affected by lower apartment sales at Havelock City which decreased by 52% to Rs. 601 m.
The performance of the Group was supported by Revenue from Leasing which grew by 15% to Rs. 488 m due to high occupancy levels and average rentals at the World Trade Center (WTC), with Other Services contributing Rs. 40 mn an increase of 30% resulting in a total revenue of Rs. 1.1 b.
The Piling work at the Havelock City Phase 3 and Phase 4 residential development is planned to commence in May 2015. Around 23% of Phase 3 units have already been pre-sold.
Courtesy: Daily News 13 May 2015

piras · 2 Re: Overseas Realty posts Rs. 788 m Q1 profit Wed May 13, 2015 10:37 am

piras

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wow OSEA.. Thanks

killstock · 3 Re: Overseas Realty posts Rs. 788 m Q1 profit Wed May 13, 2015 10:49 am

killstock

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Once the super market complex comes up there will be a boom in the demand for the HC apartments. This could be mostly lease definitely the sales and lease from expatriate clients. I have a feeling the share price will go sky high. Good price to buy now.

ccsentha · 4 Re: Overseas Realty posts Rs. 788 m Q1 profit Wed May 13, 2015 11:05 am

ccsentha

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What is so special about it? their profit after tax for las quarter was 796,559, this quarter it is 788,469.
They have made lesser profits than last quarter, so there is nothing special about it.

Their quarter EPS without considering the fair value gain is .55, which translates to P/E of 10.68, so i do not see anything special about it. (23.5 / 2.2 = 10.68)