Quarterly financial statements for period ended 30.06.2025

INTERIM FINANCIAL STATEMENTS

FOR THE PERIOD ENDED

30TH JUNE 2025

Description

Page No.

Statement of Profit or Loss and Other Comprehensive Income

3

Statement of Changes in Equity

3

Statement of Financial Position

4

Statement of Cashflows

5

Explanatory Notes

6-7

Corporate Information

8

Three Months ended 30th June

2025

2024

Rs. '000

Rs. '000

%

Revenue

Other Income

Personnel Costs

Depreciation & Amortisation

Other Operating Costs

Profit from Operations

Finance Costs

Profit before Taxation

Income Tax Reversal / ( Expenses)

Net Profit/(Loss) for the Period

Other Comprehensive Income / (Expense) for the period

Total Comprehensive Income/ (Expense) for the period

(33)

(28)

(36)

(33)

41

(130)

(40)

(137)

(100)

(153)

-

(153)

87,743 130,493

10,131 14,122

(22,599) (35,255)

(3,548) (5,262)

(84,828) (60,220)

(13,101) 43,878

(2,022) (3,381)

(15,123) 40,497

- (12,149)

(15,123) 28,348

- -

(15,123) 28,348

(0.19) 0.35

Stated

Capital

Rs. '000

Retained

Earnings

Rs. '000

Total

Rs. '000

Balance as at 01st April 2024

Net Profit for the period

Balance as at 30th June 2024

1,982,500 2,668,110

4,650,610

- 28,348

28,348

1,982,500 2,696,458

4,678,958

Balance as at 01st April 2025

Net Profit/(Loss) for the period

Balance as at 30th June 2025

1,982,500

2,866,529

4,849,029

(15,123)

-

(15,123)

1,982,500

2,851,406

4,833,906

30th June 2025

Rs. '000

719,035

33,843

-5,886,937

-

6,639,815

3,902

194,409

49,840

43,376

74

291,601

6,931,416

1,982,500

2,851,406

4,833,906

93,606

51,304

963,203

185,851

5,137

506,816

1,805,917

21,986

3,688

10,580

127,758

127,581

291,593

6,931,416

59.49

As at 30th June

31st March

2024

Rs.'000

ASSETS

Non Current Assets

Property, Plant & Equipment 173,389

2025

Rs.'000

581,346

Right of Use Assets 35,189

Intangible Assets 7,614

Investment Property 5,797,013

Investment in Equity Accounted Investee -

34,539

-5,886,937

-

6,013,205

6,502,822

Current Assets

Inventories 4,825

4,376

Trade and Other Receivables 130,502

138,872

Income Tax Receivable 1,956

39,524

Short Term Investments 40,564

42,547

Cash and Cash Equivelents 50

46

177,897

225,365

Total Assets 6,191,102

6,728,187

EQUITY AND LIABILITIES

Capital and Reserves

Stated Capital 1,982,500

1,982,500

Retained Earnings 2,696,458

2,866,529

4,678,958

4,849,029

Non Current Liabilities

Defined Benefits Plans - Gratuity 86,012

91,307

Lease Liabilities 52,288

51,389

Deferred Tax Liabilities 993,482

963,203

Security Deposits 204,466

186,435

Deferred Interest 9,483

5,137

Interest Bearing borrowings 51,920

341,486

1,397,651

1,638,957

Current Liabilities

Trade and Other Payables 27,750

72,209

Lease Liabilities 3,030

3,689

Dividends Payable 10,580

10,580

Interest Bearing Borrowings 44,424

127,758

Bank Overdraft 28,709

25,965

114,493

240,201

Total Equity and Liabilities 6,191,102

6,728,187

Net Assets per Share (Rs.) 57.59

59.68

These Financial Statements are in complience with the requirements of the Companies Act No.07 of 2007.

W A Y P Wijesinghe (Ms)

Finance Manager

The Board of Directors is responsible for the preparation and presentation of these Financial Statements.

The Financial Statements have been approved by the board on 24th July 2025

signed for and on behalf of the Board;

30th June

2025

Rs. '000

(15,123)

2,852

695

-(828)

2,299

1,651

-

2,022

(6,432)

474

(55,537)

(50,223)

(586)

(112,304)

(2,022)

-

(10,313)

(124,639)

(374)

(140,167)

-173,473

(8,144)

24,788

(1,737)

(1,737)

(101,588)

(25,919)

(127,507)

74

(127,581)

(127,507)

30th June

2024

Rs. '000

31st March

2025

Rs.'000

CASH FLOW FROM OPERATING ACTIVITIES

Profit before Tax

Adjustments for :

Depreciation & Amortization

Amortisation of right of use Assets

Change in Fair Value of Financial Instruments

Change in Fair Value of Investment Properties

Provision for Defined Benefit Obligation

Interest Expense on Leases

Interest Income

Interest Expenses

Operating Profit before Working Capital Changes

3,131

2,132

(1,802)

-

1,350

1,661

-

3,381

50,350

14,131

2,782

(89,924)

(3,786)

12,400

6,630

(31)

12,459

117,734

Adjustment for Working Capital Changes

(Increase)/Decrease in Inventories

(Increase)/Decrease in Trade and Other Receivables

Increase/(Decrease) in Trade and Other Payables

Increase/(Decrease) in Security Deposits and Defferred Interest

Cash Generated from Operations

-

(33,843)

(7,053)

11,334

20,788

449

(42,213)

37,337

(11,043)

102,264

Interest Paid

Retirement Benefit (Paid)/ Received

Tax Paid

Net Cash inflow from Operating Activities

(3,381)

-

(2,673)

14,734

(12,459)

(687)

(28,021)

61,097

CASH FLOW FROM INVESTING ACTIVITIES

Acquisition of Property, Plant & Equipment

Expenses incurred on Capital WIP

Interest Income Received

Term Loan Received/(Paid)

Repayment of Interest Bearing Borrowings

Net Cash used in Investing Activities

-

-

-

-

(11,106)

(11,106)

(1,473)

(409,871)

31

406,218

(44,423)

(49,518)

CASH FLOWS FROM FINANCING ACTIVITIES

Payment of Lease Liabilities

Net Cash used in Financing Activities

Net Increase/(Decrease) in Cash and Cash Equivalents

Cash and Cash Equivalents as at 1st April

Cash and Cash Equivalents as at the end (Note A)

4,632

(30,551)

(25,919)

NOTE - A

Analysis of Cash and Cash Equivalents

Cash in Hand and at Bank

Bank Overdraft

50

46

(28,709)

(25,965)

(28,659)

(25,919)

1.

CT LAND DEVELOPMENT PLC

EXPLANATORY NOTES

Basis of Preparation

These Financial Statements are provisional and subject to Audit. The Interim Financial Statements have been prepared in accordance with

Sri Lanka Accounting Standard LKAS.34-Interim Financial Reporting. These Interim Financial Statements should be read in conjunction with the Annual Financial Statements for the year ended 31st March 2025

Refurbishment work

The Refurbishment work on the Company's flagship Majestic City Mall has commenced and is progressing well. It will have a new look and

features once the work is completed.

Fair value measurement and related fair value disclosures

2.

3.

The fair values of all the financial assets and financial liabilities recognized during the period were not materially different from the

transaction prices at the date of initial recognition. There were no transfers between Level 1 and Level 2 and no transfers into or out of

Level 3 categories as per the fair value hierarchy, during the period. The fair value changes on financial instruments in Level 3 category

was properly recorded in the statement of other comprehensive income.

4.

Investment Property

Free hold Land and Investment property are respectively shown at the values in existence as at the date of valuation. Other Investments

are reflected at values in existence as at the reporting date

5.

Stated Capital

Stated Capital is represented by 81,250,000 Ordinary shares in issue (2025-81,250,000).

6.

Comparative information

Where appropriate the previous year's figures have been reclassified to conform to the current classification. All per share details have

been calculated for all periods, based on the number of shares in issue as at 30th June 2024

7.

Contingent Liabilities

There have been no significant changes in the nature and value of the contingencies which were disclosed in the annual report for the year

ended 31st March 2025

8.

Post Balance Sheet Events

No events have occurred since the balance sheet date which would require adjustment to or disclosure in these Financial Statements.

9.

Segmental Information

The Company is involved entirely in the Real Estate sector. As such there are no distinguishable components to be identified as separate

segments of the Company.

10.

Market Prices recorded during the period ended 30-Jun-25 31-Mar-25Variance

Rs. Rs. Rs. %

Highest Price Per Share 33.00 41.90 (8.90) (21.24)

Lowest Price Per Share 22.50 24.90 (2.40) (9.64)

Closing Price Per Share 30.30 25.30 5.00 19.76

11.

The number of shares held by the Board of Directors are as follows:

As at 30-Jun-25 31-Mar-25

Mr. L.R. Page 447,478 447,478

Mr. J.C. Page 1,018,007 1,048,007

Mr. S.C. Niles 3,333 3,333

Dr. T. Senthilverl - -

Mr. R. Selvaskandan - -

Mr. V.R. Page - -

Mr. P.P. Edirisinghe - -

Mr. H. A. S. Madanayake - -

Mr. A D J Selvanayagam - -

1,468,818 1,498,818

30-Jun-25

Number of

shares

%

55,139,348

67.9%

9,508,777

11.7%

1,090,440

1.3%

1,100,000

1.4%

1,048,007

1.3%

835,175

1.0%

654,225

0.8%

626,355

0.8%

500,000

0.6%

451,030

0.6%

447,478

0.6%

307,502

0.4%

274,415

0.3%

265,624

0.3%

200,000

0.2%

188,354

0.2%

175,000

0.2%

166,667

0.2%

153,357

0.2%

126,900

0.2%

-

-

73,258,654

90%

7,991,346

10%

81,250,000

100.0%

31-Mar-25

Number of

shares

%

55,139,348

67.9%

8,271,653

10.2%

1,090,440

1.3%

1,100,000

1.4%

1,048,007

1.3%

835,175

1.0%

654,225

0.8%

626,355

0.8%

500,000

0.6%

451,030

0.6%

447,478

0.6%

315,313

0.4%

274,415

0.3%

131,812

0.2%

200,000

0.2%

188,354

0.2%

-

-

166,667

0.2%

153,357

0.2%

126,900

0.2%

300,000

0.4%

1,267,090

89%

79,982,910

11.4%

81,250,000

100.0%

12.

CT LA

EXP

Twenty Largest Shareholders

The twenty largest shareholders of the company are As at

C T Holdings PLC

1

2

Sampath Bank PLC/Senthilverl Holdings (Pvt) Ltd

3

Mr. A.A. Page

4

Mrs. Cecillia Page

5

Mr. J.C. Page

6

Tudawe Brothers Limited

7

Merrill J Fernando & Sons (Pvt) Limited

8

Mrs. T. Selvaratnam

9

Mr. S. N. D. Abeyagunawardene

10

Mrs. J.N. Mather

11

Mr. L.R. Page

12

Merchant Bank of Sri Lanka- C. Sathkumara

13

Late Mr. P.G.K. Fernando

14

Mr. J D Bandaranayake

15

Mrs. M. M Page

16

Bank of Ceylon A/c Ceybank Century Growth Fund

17

Senkadagala Finnace PLC/Prempra Capital (Pvt) Ltd

18

Orit Apparels Lanka (Pvt) Ltd.

19

Mr. G.C. Goonetilleke

20

B. P. De Silva Ceylon Ltd.

21

Mr. R. Senthilnathan

Other Shareholders

TOTAL

13.

Public Holding:

The percentage of shares held by the public and numb 18.39%) and 2,853 (31.03.2025 - 2,819) respectively

The Float adjusted Market Capitalization of the Comp

According to the Minimum Listing Requirements of t holding % should be 10% and the number of shareho as per Option 2 of clause 7.13.1 (b).

Registration No.

PQ 159

Audit Committee

Mr. P P Edirisinghe (Chairman )

Mr. A J D Selvanayagam

Mr. H A S Madanayake

Registered Office

10, Station Road, Colombo 4

Phone: +94112508673/4

Fax: : +94112592427

Email: info@majesticcity.lk

Web:https://www.majesticcity.lk

Remuneration Committee

Mr. P P Edirisinghe (Chairman )

Mr. L R Page

Mr. A J D Selvanayagam

Board of Directors

Mr. L R Page (Chairman )

Mr. J C Page (Deputy Chairman/Managing Director )

Mr. A J D Selvanayagam ( Senior Independent Director)

Mr. R Selvaskandan

Mr. S C Niles

Mr. V R Page

Dr. T Senthilverl

Mr. P P Edirisinghe

Mr. H A S Madanayake

Related Party Transactions Review Committee

Mr. P P Edirisinghe (Chairman )

Mr. A J D Selvanayagam

Mr. H A S Madanayake

Nominations and Governance Committee

Mr. P P Edirisinghe (Chairman )

Mr. A J D Selvanayagam

Mr. L R Page

Management

Mr. J C Page (Deputy Chairman/Managing Director )

Mr. Udaya Jayasooriya (General Manager/ Engineer )

Ms. W A Y P Wijesinghe ( Finance Manager)

Mr. A C Hewage (Accounts Manager- Tenant Relationship )

Tax Consultants

KPMG

Chartered Accountants

Bankers

Cargills Bank Ltd

Commercial Bank of Ceylon PLC

Legal Form

A Quoted Public Company with Limited liability incorporated under the Companies Act No. 17 of 1982 on 09th March

1983 and re-registered under the Companies Act No. 07 of 2007.

Company Secretary / Legal Consultant

Ms. Charuni Gunawardana

Auditors

KPMG

Chartered Accountants

Holding Company

C T Holdings PLC

Stock Exchange Listing

Colombo Stock Exchange

CT LAND DEVELOPMENT PLC

No. 10, Station Road, Colombo 04

Phone: +94112508673/4

Fax: : +94112592427

Email: info@majesticcity.lk