Dolmen City REIT profit jumps 59% to nearly Rs13bn in FY26

MG News | October 08, 2026 at 03:53 PM GMT+05:00

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October 08, 2026 (MLN): Profit after taxation of Dolmen City REIT (PSX: DCR) rose 58.76% year-on-year to Rs12.69bn for the fiscal year ended June 30, 2026 (FY26), compared with Rs7.99bn in FY25.

Basic and diluted earnings per unit (EPU) climbed 58.33% to Rs5.70 from Rs3.60 in the preceding year.

The growth was driven by higher rental and marketing income, lower administrative expenses and an unrealized fair value gain on investment property that more than doubled.

Rental income increased 11.53% to Rs6.45bn from Rs5.78bn in FY25, while marketing income rose 20.07% to Rs113.00m from Rs94.12m.

Administrative and operating expenses fell 15.61% to Rs801.87m from Rs950.24m, and impairment loss on receivables halved, down 49.70% to Rs15.53m from Rs30.88m. As a result, net operating income grew 17.35% to Rs5.74bn from Rs4.89bn.

Other income slipped 2.23% to Rs206.83m from Rs211.56m.

Fund-related charges rose in line with net operating income. Management fee increased 17.35% to Rs172.28m from Rs146.81m, with Sindh sales tax on it at Rs25.84m versus Rs22.02m. Trustee fee rose 17.35% to Rs28.71m from Rs24.47m, with Sindh sales tax on it at Rs4.31m versus Rs3.67m.

Profit before change in fair value of investment property grew 16.51% to Rs5.72bn from Rs4.91bn.

The unrealized gain on remeasurement of fair value of investment property more than doubled, up 126.01% to Rs6.97bn from Rs3.08bn, and this lifted profit before taxation, equal to profit after taxation, to Rs12.69bn.

Distributable income per unit increased 16.29% to Rs2.57 from Rs2.21. Undistributable income per unit, reflecting unrealized fair value gains, more than doubled to Rs3.13 from Rs1.39.

STATEMENT OF PROFIT OR LOSS FOR THE YEAR ENDED JUNE 30, 2026 (Rs.000)
Description	2026	2025	Change (%)
Revenue
Rental income	6,447,004	5,780,498	11.53%
Marketing income	113,004	94,116	20.07%
Administrative and operating expenses	(801,867)	(950,244)	-15.61%
Impairment (loss) on receivables	(15,534)	(30,884)	-49.70%
Net operating income	5,742,607	4,893,486	17.35%
Other income	206,831	211,556	-2.23%
Management fee	(172,278)	(146,805)	17.35%
Sindh sales tax on management fee	(25,842)	(22,021)	17.35%
Trustee fee	(28,713)	(24,467)	17.35%
Sindh sales tax on trustee fee	(4,307)	(3,670)	17.36%
Profit before change in fair value of investment property	5,718,298	4,908,079	16.51%
Unrealized gain on remeasurement of fair value of investment property	6,969,779	3,083,832	126.01%
Profit before taxation	12,688,077	7,991,911	58.76%
Profit after taxation	12,688,077	7,991,911	58.76%
Earnings per unit - Distributable income (Rupees)	2.57	2.21	16.29%
Earnings per unit - Undistributable Income / Unrealized fair value gains	3.13	1.39	125.18%
Earnings per unit - Basic and diluted	5.7	3.6	58.33%

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