TPL Properties Limited reported unconsolidated loss per share of PKR 6.47 in FY24 against an earnings per share of PKR 7.50 in FY23. Furthermore, in 3QFY25 the company reported loss per share of PKR 2.37 against loss per share of PKR 0.29 in SPLY. On March 29, 2025, a fire incident occurred at the construction site of The Mangrove Project during borehole drilling operations, which were being conducted at an approximate depth of 1,200 feet. A team of technical specialists was immediately appointed to assess and address the situation.
The management has confirmed that there were no injuries, casualties, or damage to property. The first tower of Lagoon Views, officially launched in January 2025, comprises 234 residential units. As of the latest update, 50% of the apartments have been successfully sold. Additionally, a dedicated sports facility has been planned as part of the development, with an inauguration scheduled for August 2025.
Management has highlighted several ongoing and upcoming government-led infrastructure projects aimed at improving accessibility to the Mangrove location. These developments are expected to enhance connectivity and drive further interest in the project.
Important Disclosures
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