Financial results of TPL Properties Limited for Quarter ended December 31, 2019

Karachi, TPL Properties Limited informed Pakistan Stock Exchange about the recommendations made by the board of directors in the meeting held at Karachi on February 26, 2020.

The agenda of the meeting was discussion of Unconsolidated and consolidated profit and loss account for quarter ended December 31, 2019 which portrayed a profit of Rs. 323,455,619 and Rs. 297,040,380 with unconsolidated earnings per share 0.99 basic and diluted respectively.

Further, nil payment of cash dividend, bonus shares and right shares was agreed.

TPL Properties Limited was incorporated in Pakistan as a private limited company on February 14, 2007 under the Companies Ordinance, 1984. The principal activity of this real estate development company is to invest, purchase, develop, sell, rent out or dispose off real estate assets including commercial and residential buildings. The registered office of the company is situated at Centrepoint Building, off Shaheed-e-Millat Expressway near KPT Interchange, Karachi.

TPL Properties Limited is the real estate development arm of TPL Holdings (Pvt) Ltd. The company has successfully completed the construction of Centrepoint which is 100% rented, its first real estate development project, located opposite KPT Interchange on Shaheed-e-Millat Expressway, Karachi. The project is designed exclusively as a modern office complex with the latest in-house infrastructure facilities ideal for large local and multinational corporations.

Furthermore, the company has the requisite technical and experienced staff including Civil, MEP (Mechanical, Electrical and Plumbing), ICT (Information and Communication Technology) and Security to plan, oversee, complete and deliver the upcoming project(s). It has in-house operations, power house (generation facility of around 4.0 MW) and mechanical experts leading their respective teams. TPL Properties Limited is part of TPL group. TPL Holdings (Pvt.) Ltd is the holding company of the group and has diversified investments in various companies.