TPL Properties Limited (TPLP) reported profit of PKR 4.9 billion in the quarter ended December 31 2022 due to Unrealized gain on revaluation of investments, according to company filing to the Pakistan Stock Exchange.
TPLP booked realized gain in value of PKR 4.2 billion in the quarter ended December 31 2022.
Share price of the company increased 46 paisa or 3.14 percent to PKR 15.12 (PST 9:35) at Pakistan Stock Exchange.
TPL Properties is now effectively a holding company, having subsidiaries in REIT Management, Development and Property Management, and investment in TPL REIT Fund I. TPL REIT Fund I projects currently consist of One Hoshang and The Mangrove.
TPL RMC has started managing TPL REIT Fund I and accrued management fees as well as performance fees given the increase in NAV of the fund. TPL Developments (Pvt.) Ltd. has also signed Development Advisory agreements with the projects within TPL REIT Fund I. TPL Property Management has also renewed its facility management contract for two years with BAHL for Centrepoint building.
“TPL Properties growth will continue on the development of the existing portfolio, as well as additional real estate projects being added to the REIT Fund I portfolio, and independent agreements for development services and REIT management services being pursued by the company. Further, the partnership established with TASC Towers creates a new focus towards managing and growing digital infrastructure via REIT structures” says Company Chairman Jameel Ahmed Yusuf.
