Karachi: In a strategic move, D.M. Textile Mills Limited has announced an expansion into real estate development. The decision came during a Board of Directors meeting held on October 3, 2024, as revealed in a letter addressed to the General Manager of the Pakistan Stock Exchange.

According to the correspondence, the textile giant will now engage in investment, development, marketing, construction, purchase, sale, and lease of real estate assets along with its existing operations. This shift aims to diversify the company's revenue streams and leverage its capital in profitable real estate ventures.

According to information available from the Pakistan Stock Exchange (PSX), this new line of business is expected to complement D.M. Textile Mills’ longstanding presence in the textile industry, potentially increasing shareholder value through diversified assets.

The initiative is reported in compliance with Section 96 of the Securities Act, 2015 and PSX Regulations, ensuring that all stakeholders are well-informed of the significant changes in the company’s business direction. The notification has also been forwarded to relevant regulatory bodies including the Securities and Exchange Commission of Pakistan.