Prime Lands Residencies Ends FY21 On Exceptionally High Note
Prime Lands Residencies PLC has ended FY21 on an exceptionally high note with impressive gains on the top line and bottom line.
As per results announced on Tuesday, Prime Lands Residencies’ revenue for the year ended on 31 March 2021 was Rs. 7.7 billion, up by 35% from the previous year. After-tax profit has soared by 656% to Rs. 989.2 million from Rs. 131 million in FY20. Pre-tax profit had increased by 603% to Rs. 1.27 billion.
Gross profit growth was 24% against 19% in FY20.
The company, which was listed last month following a successful IPO, has distributed Rs. 375 million as the first interim dividend of 40 cents per share, to shareholders on FY21 profit. The Earnings Per Share was Rs. 1.32, up from Rs. 0.17 in FY20.
Prime is a well-respected brand name in Sri Lanka and Prime Group is the first and only Sri Lankan real estate group to secure an issuer rating of (SL)A- from ICRA Lanka. Prime Lands Residencies was created in 2016 by amalgamating Prime Homes International, Prime Homes Ltd., and Living Homes Ltd. to focus on envisioning, creating, and selling affordable luxury housing projects in the main cities around the country, under the brand name ‘Prime Residencies’ together with high end and ultra-luxury condominiums such as The Grand Ward Place Colombo 7, located in the heart of the Colombo.
Total assets amounted to Rs. 13 billion, marginally down from Rs. 13.5 billion. Retained earnings have grown to Rs. 1.93 billion from Rs. 942 million. Total equity grew from Rs. 2.4 billion to Rs. 3.4 billion.
Current liabilities were down from Rs. 9.4 billion to Rs. 7 billion whilst non-current liabilities increased to Rs. 2.4 billion from Rs. 1.6 billion.
The Board of Directors of Prime Lands Residencies Plc comprises B. Premalal (Co-Chairman), Sandamini Perera (Co-Chairman), N.M. Weerakkody (Managing Director), H.M.N.U. Kumara, S.S.A.P. Brahmanage, M. Perera, D. Kalapuge, S. Bandara, and D. Sooriyaarachchi.
Prime Lands Awarded As The Best Real Estate Company in Sri Lanka At Asia Pacific Property Awards
Prime Lands was awarded as the Best Real Estate Company in Sri Lanka at Asia Pacific Property Awards.
Sri Lankan companies shine at 10th Edition of Maldives Living Expo
The 10th Edition of the Maldives Living Expo was held in Dharubaaruge, Male City., Maldives from 15 to 17 December.The E...
Prime Wins Gold in Land and Property Sector at TAGS Awards 2022
Wednesday, December 10, 2022, Colombo; Prime Lands Residencies PLC was placed 1st in the Land and Property Companies S...
Prime Group Unveils its Latest Masterpiece: The Grand Ward Place, a Triumph of 100 % Sri Lankan Excellence
Colombo, Sri Lanka – May 15, 2023: With its respected clientele and project partners present, The Grand Ward Plac...
Prime Group completes flagship project ‘The Grand Ward Place
19th May 2023 - The Grand Ward Place, the ultra-luxurious flagship project of Prime Group declared open with its esteeme...
The Founder / Chairman of Prime Lands Group Mr. B. Premalal explained what are the factors we need to consider when buyi...
LMD APRIL ISSUE 2016
Asia Pacific Property Awards
ASIA PACIFIC PROPERTY AWARDS 2015-2016.
Great Place To Work In Sri Lanka 2016
Great Place To Work® Institute presents the Best Companies to Work for in Sri Lanka each and every year, in partnership...
Prime Grand Ward Place Groundbreaking Ceremony
PRIME GRAND OFFERS A PRESTIGIOUS WARD PLACE ADDRESSConstruction on Prime Grand, an upmarket, 36 floor, 316 unit apartmen...
Channel Eye - Business News
Mr. Brahmanage Premalal, Chairman of Prime Group was interviewed by Channel Eye for Business Today Program
Prime Group Power Toastmasters Ovation As Strategic Partner
Prime Group Power Toastmasters Ovation As Strategic Partner!
Prime Group Charters Toastmasters Club
The Prime Group Toastmasters club held its charter ceremony on 24th May with the prestigious presence of the Toastmaster...
Great Place To Work In Sri Lanka For 2017
We are delighted to announce Prime Group has been rated as one of the 25 Great Work Places in Sri Lanka – 2017 for the...
Two Giants Join Hands
Maga to construct The GrandPrime Group, the leading Sri Lankan property giant, announced the awarding of the contract fo...
Great Place To Work 2018
We are delighted to announce that Prime Group has been rated as one of the 25 Great Work Places in Sri Lanka – 2018 fo...
Best Developer of Sri Lanka
property developer Prime Group bolstered its reputation as an industry
leader by securing four top awa...
The Grand, Ward Place Promises Utmost Privacy Amidst Uninterrupted Views
Best Developer In Sri Lanka Yet Again
Distinguished property developer Prime Group bolstered its reputation as an industry leader by securing four top awards
Prime Group Sets Benchmark For Real Estate Industry With Credit Rating Of A- Stable
Property magnet Prime Group makes history as the first institution in the Sri Lankan real estate industry to receive a p...
Prime Group hosts gala to welcome the New Year
In celebration of this year’s Sinhala & Tamil New Year, the flagship property of Sri Lanka’s leading property develo...
CSE approves landmark Rs. 1.9B IPO of Prime Lands Residencies
The Colombo Stock Exchange (CSE) has approved an application submitted by Prime Lands Residencies Ltd. for the listing o...
Prime Lands Residencies Limited debuts IPO
Prime Lands Residencies Limited the condominium property arm of the maestro of real estate artistry in Sri Lanka, Prime ...
Prime Lands Residencies IPO oversubscribed on Opening day
Following the debut of Prime Lands Residencies’ Initial Public Offering (IPO) yesterday, the company’s oversubscript...
Prime Group extends a helping hand to thousands with the ‘Ek Dawasak Sith Dahasak’ initiative
Affirming its deep commitment to empowering communities in the country, Sri Lanka's leading real estate developer Prime ...
Prime Group Introduces Amber Sky
Prime Group promises a brand new story in luxury oceanfront living to the real estate market of Sri Lanka with Amber Sky...
President Of Condominium Developer's Association
Sri Lanka's leading property development conglomerate Prime Group's dynamic Chairman Premalal Brahmanage has been appoin...
Prime Lands Residencies Ends FY21 On Exceptionally High Note
Prime Lands Residencies PLC has ended FY21 on an exceptionally high note with impressive gains on the top line and botto...
LMD's Most Respected Entities
Affirming its indelible reputation as the country's premier and largest diversified property development conglomerate Pr...
50% of Sales less than 20 days from the launch
Amber Skye Residencies, Negombo affirms its position as an exceptional and unique oceanfront development with closing ov...
Another Milestone for Amber Skye
Amber Skye Residencies hosts a collection of 145 spacious, one– to three-bedroom apartments with prices starting from ...
Appointment of Mr. Noel Joseph
Leading real estate company Prime Lands Residencies PLC announced the appointment of Noel Joseph to the Company's Board ...
Prime Lands Residencies Records Milestone Achievement in 1H
Continuing its rapid growth trajectory amidst challenging economic conditions, Prime Lands Residencies PLC (PLR), a subs...
PLR Records an Impressive Profit After Tax
Prime Lands Residencies PLC (PLR) has made a profit after tax of LKR 1,158 million for the 9-month period ended FY 2021/...
Prime Group Shapes the Neighborhood in Kurunegala
Prime Rajadhaniya, the newest property development spread over 8 acres of land with both condominium and villa residenti...
“Most Awarded Real Estate Group” BY LMD
At Prime Group, we always put forward our dedicated, loyal, and talented employees who are the real champions in our jou...
ONE VOICE. ONE NATION.
A Message From Prime Group
Prime Group Strengthen The Financial Stability to [SL] A (Stable)
Prime Lands Ltd. and Prime Lands Residencies PLC have received a further strengthen issuer rating of [SL] A (Stable) mak...
Prime Group Crowned ‘Most Valuable Real Estate Consumer Brand’ in Sri Lanka
Prime Lands Residencies PLC has been ranked the most valuable real estate brand in Sri Lanka for the year 2021 by Brand ...
Prime Group successfully hands over two more Condominium Projects at Colombo 05
Prime Lands Residencies PLC have completed the
construction of two more successful apartmen...
Prime group listed among Asia’s 100 best workplaces in the SME category for 2022 by great place to work
Prime Group was recently listed among the 100 Best Workplaces in Asia for 2022 by Great Place to Work® in Small and Med...
Prime group wins two gold awards for customer engagement
Prime Group, the leading real estate company in Sri Lanka won two Gold Awards at the 11th Global Customer Engagemen...