Globe Residency REIT profit climbs 7% to Rs578m in FY26

August 20, 2026 (MLN): Globe Residency REIT (PSX: GRR) recorded a 7% increase in its net profit for the year ended June 30, 2026, with profit after taxation climbing to Rs578.18m from Rs539.23m in the corresponding period last year.

Showing this steady bottom-line growth, the trust's earnings per unit basic and diluted expanded to Rs4.13 from Rs3.85 in FY25.

The Board of Directors has declared and approved a final cash dividend of Rs4.00 per unit (40%) for the year ended June 30, 2026.

The top-line performance was impressive, with revenue from contracts with customers nearly doubling to Rs4.80bn from Rs2.63bn an increase of 83%.

However, cost of sales more than doubled, rising to Rs4.06bn from Rs1.95bn, limiting gross profit growth to a more measured 9% at Rs736.51m from Rs674.50m.

Administrative and operating expenses remained largely contained, rising just 3% to Rs148.78m, allowing net operating income to grow 11% to Rs587.73m from Rs529.84m.

Other income declined 18% to Rs59.53m from Rs72.83m.

On the regulatory and management cost front, remuneration of the REIT Management Company declined 16% to Rs23.53m, Sindh sales tax on REIT Management Company remuneration fell 16% to Rs3.53m, remuneration of the Central Depository Company of Pakistan Limited as Trustee declined 16% to Rs4.71m, and Sindh sales tax on Trustee remuneration eased 16% to Rs706,000.

The fee of the Securities and Exchange Commission of Pakistan rose 25% to Rs6.22m, and marketing expenses increased 25% to Rs13.01m.

Credit loss allowance more than tripled to Rs12.07m from Rs3.89m, adding a modest drag.

Taken together, these movements brought profit before taxation up 7% to Rs583.49m from Rs544.74m.

Taxation declined marginally by 4% to Rs5.30m from Rs5.51m, providing a small additional tailwind that lifted profit after taxation to Rs578.18m a 7% gain for the full year.

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