Karachi: Naya Nazimabad Apartment REIT has reported its financial results for the fiscal year ending June 30, 2026, showing a notable decrease in profit despite an increase in total assets. According to the financial statement, the REIT's profit after taxation fell to 881.70 million rupees from 1.22 billion rupees recorded in the previous year, marking a significant move.

The company's total assets rose to 17.89 billion rupees, up from 13.16 billion rupees in 2025. This growth was largely driven by an increase in current assets, which reached 17.49 billion rupees, compared to 13.06 billion rupees the previous year. The inventory property segment contributed considerably to this rise, climbing to 14.79 billion rupees from 12.02 billion rupees. Additionally, short-term deposits and other receivables surged to 485.27 million rupees from 286.35 million rupees.

Unit holders' funds saw an increase, rising to 4.40 billion rupees from 3.52 billion rupees, buoyed by unappropriated profits which escalated to 1.46 billion rupees from 583.09 million rupees. However, liabilities also saw an upturn, with total liabilities increasing to 13.49 billion rupees from 9.64 billion rupees. This was primarily due to a significant rise in contract liabilities, which surged to 5.52 billion rupees from 1.35 billion rupees, representing a very large or significant move.

According to information available from the Pakistan Stock Exchange (PSX), the earnings per unit fell to 3.002 rupees from 4.142 rupees, reflecting the overall decline in profitability. The net asset value per unit also climbed to 14.99 rupees from 11.98 rupees, indicating an improvement in asset value per share.

Despite the decline in profit, Naya Nazimabad Apartment REIT reported revenue from contracts with customers at 164.74 million rupees, a new entry in their financial records as no revenue was recorded under this head in the previous year. However, the increased finance cost, which rose to 707.36 million rupees from 644.32 million rupees, along with administrative and operating expenses, contributed to the overall reduction in profit margins.

The REIT operates within the real estate investment sector, focusing on the development and management of residential properties. The latest financial results indicate a challenging year for the REIT, as it grapples with increased liabilities and reduced profitability, even as asset values continue to rise.