Javedan Corporation LimitedPSX: JVDC

Transmission of Quarterly Report for the 1st quarter ended 30-09-2025

· Issued by Javedan Corporation Limited

Quarterly Report september

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CONTENTS

03 Company Information

05 Director's Report

  1. Unconsolidated Financial Statements

  2. Condensed Interim Unconsolidated Statement of Financial Position

  1. Condensed Interim Unconsolidated Statement of Profit Or Loss (Unaudited)

  2. Condensed Interim Unconsolidated Statement of Comprehensive Income (Unaudited)

    Table of
  3. Condensed Interim Unconsolidated Statement Of Changes In Equity (Unaudited)

  4. Condensed Interim Unconsolidated Statement of Cash Flows (Unaudited)

15 Notes To The Condensed Interim Unconsolidated Financial Information (Unaudited)

  1. Consolidated Financial Statements

  2. Condensed Interim Consolidated Statement of Financial Position

  3. Condensed Interim Consolidated Statement of Profit Or Loss (Unaudited)

  4. Condensed Interim Consolidated Statement of Comprehensive Income (Unaudited)

  5. Condensed Interim Consolidated

    Statement Of Changes In Equity (Unaudited)

  6. Condensed Interim Consolidated Statement of Cash Flows (Unaudited)

33 Notes To The Condensed Interim Consolidated Financial Information (Unaudited)

01 QUARTERLY REPORT SEPTEMBER 2025



JAVEDAN CORPORATION LIMITED 02



Company

INFORMATION

Board of Directors

Mr. Arif Habib Chairman

Mr. Abdus Samad Habib CEO/Director

Mr. Muhammad Ejaz Director Mr. Muhammad Kashif Habib Director Mr. Abdullah Ghaffar Director

Mr. Abdul Qadir Sultan Director

Mrs. Darakshan Zohaib Director Mr. Muhammad Siddiq Khokhar Director Mr. Shahid Iqbal Choudhri Director

Audit Committee

Mr. Abdullah Ghaffar Chairman Mr. Muhammad Kashif Habib Member Mr. Muhammad Ejaz Member

Mr. Abdul Qadir Sultan Member

HR & Remuneration Committee

Mr. Muhammad Siddiq Khokhar Chairman Mr. Arif Habib Member

Mr. Muhammad Ejaz Member

Mr. Abdus Samad Habib Member

Chief Financial Officer

Mr. Muneer Gader

Company Secretary

Mr. Dabeer Ullah Sheikh

Auditors

Yousuf Adil and Compary Chartered Accountants

Reanda Haroon Zakaria Aamir Salman Rizwan and Company

Chartered Accountants

Bankers

Al Baraka Bank Pakistan Limited Allied Bank Limited

Askari Bank Limited Bank Al-Falah Limited

BankIslami Pakistan Limited Bank of Punjab

Dubai Islamic Bank Habib Bank Limited

Habib Metropolitan Bank Limited MCB Bank Limited

National Bank of Pakistan Sindh Bank Limited

Bank Makramah Limited United Bank Limited Faysal Bank Limited Meezan Bank Limited

Industrial & Commercial Bank of China

Registered Office

Arif Habib Center,

23, M.T.Khan Road, Karachi Pakistan - 74000, Tel : +92 21 32460717-19

Fax: 32466824

Website: https://www.jcl.com.pk

Site Office:

Naya Nazimabad Manghopir Road Karachi - 75890

Phones: +92 21 36770141-42

Website: https://www.nayanazimabad.com

Share Registrar

CDC Share Registrar Services Limited, CDC House, 99-B, Block 'B' S.M.C.H.S

Sharah-e-Faisal, Karachi.

03 QUARTERLY REPORT SEPTEMBER 2025



JAVEDAN CORPORATION LIMITED 04



DIRECTORS' REPORT

05

QUARTERLY REPORT SEPTEMBER 2025

Directors' Report

On behalf of the Board of Directors, we are pleased to present the Condensed Interim Unconsolidated & Consolidated Financial Information for the Three-month period ended 30 September 2025.

Overview

During the quarter Naya Nazimabad Business Enclave featuring 230 sq yds and 460 sq yds commercial plots continued a robust market response contributing significantly to the quarter revenue. The development work is in final stages and allottees have already commenced construction work on their respective plots.

Further Naya Nazimabad achieved yet other milestones by entering a strategic partnership with leading Islamic Bank "Meezan Bank" for providing Housing Finance for under construction vertical apartment projects in Naya Nazimabad.

The Government of Pakistan's Tax Credit on Housing Finance, Stability in interest rates and now availability of housing finance for under construction projects should all improve affordability for potential customers. These developments are positive for Naya Nazimabad and your company.

Financial Performance

During the period the Company has recorded Sale and Profit After Tax of PKR 1,698 million and 724 million respectively whereas Sale and Profit After Tax in the corresponding period were PKR 3,130 million and PKR 909 million, respectively. The administrative cost incurred during the period is PKR 235 million as compared to PKR 144 million in the corresponding period. Other Income earned during the period is PKR 41 million. On a consolidated basis Sales and Profit After Tax for the period is PKR 1,806 million and PKR 713 million respectively. The profit is translated into an EPS per share of Rs. 1.87 per share.

Outlook

The strong performance and growing membership of the Naya Nazimabad Gymkhana, coupled with the successful launch of the Naya Nazimabad Business Enclave, are expected to sustain momentum in lifestyle and commercial segments. These developments, alongside continued demand for commercial properties, position Javedan Corporation to leverage its diversified portfolio and integrated development model to achieve steady revenue growth and long-term value creation for shareholders.

JAVEDAN CORPORATION LIMITED

06

Acknowledgement

On behalf of the Board of Directors, we thank our customers and shareholders for their continued support in transforming the dream into reality. We would like to thank our Banks and Financial institutions who, over the years, have been critical in enabling the Company to deliver this project. We would also like to thank Securities and Exchange Commission of Pakistan and Pakistan Stock Exchange for their support to the project. We also appreciate all the employees of the Company for highly admirable efforts put in by them.



Abdus Samad Habib Arif Habib

Chief Executive Officer Chairman

Dated: 25 October 2025

QUARTERLY REPORT SEPTEMBER 2025

07

CONDENSED INTERIM UNCONSOLIDATED FINANCIAL STATEMENTS

FOR THREE MONTHS PERIOD ENDED SEPTEMBER 30, 2025

JAVEDAN CORPORATION LIMITED

08

CONDENSED INTERIM UNCONSOLIDATED STATEMENT OF FINANCIAL POSITION

AS AT SEPTEMBER 30, 2025

Note

(Unaudited) September 30,

2025

(Audited) June 30,

2025

ASSETS

Property and equipment

5

10,368,044

10,249,608

Intangible assets

3,445

3,638

Investment properties

Long term deposits

640,550

7,985

640,550

7,985

Long-term investments

6

9,183,878

8,452,268

Long term advances

1,432,729

1,635,564

21,636,631

20,989,613

Current Assets

Development properties

7

14,953,358

14,806,951

Trade debts

8

2,484,699

2,548,568

Loans and advances

Short Term Investment

9

566,505

1,502,500

596,445

1,502,500

Trade deposits, prepayments and other receivables

10

984,925

856,204

Unclaimed deposits

941

941

Cash and bank balances

143,625

46,053

Non-Current Assets

------ (Rupees in '000) ------

Total Assets

EQUITY AND LIABILITIES

SHARE CAPITAL AND RESERVES

Share capital Authorised

390,000,000 (2025: 390,000,000) ordinary shares of Rs.10/- each

20,357,662

20,636,552

42,273,183

3,900,000

8,651,486 24,201,996

13,617,458

42,273,183

41,347,275

3,900,000

Issued, subscribed and paid-up capital

3,808,604

3,808,604

Capital reserves

2,758,292

2,758,293

Revenue reserves

8,983,614

10,152,983

Other component of equity - revaluation surplus on lands

Long-term financing

11

3,684,084

3,821,730

Deferred Grant

91,072

71,170

Deferred tax liability

554,972

560,219

Deferred liability - gratuity

123,602

116,414

4,453,729

4,569,533

Current Liabilities

Trade and other payables

12

6,474,118

5,991,380

Preference shares

505

505

Accrued mark-up Contract liabilities

380,808

944,366

315,703

891,723

Short-term borrowings

13

1,008,967

1,488,317

Current maturity of non-current liabilities

2,250,406

2,356,166

Taxation - net

626,470

324,489

Unpaid dividend

1,904,742

424

Unclaimed dividend

27,077

27,213

Non-Current Liabilities

8,661,942

25,381,822

TOTAL EQUITY AND LIABILITIES

CONTINGENCIES AND COMMITMENTS 14

The annexed notes from 1 to 22 form an integral part of these condensed interim financial information.

11,395,920

41,347,275

CONDENSED INTERIM UNCONSOLIDATED STATEMENT OF PROFIT OR LOSS (UNAUDITED)

FOR THREE MONTHS PERIOD ENDED SEPTEMBER 30, 2025

Three month period ended

Note

September 30,

2025

September 30,

2024

Revenue 15

Cost of sales 16

Gross profit

Expenses

Marketing and selling expenses Administrative expenses Finance cost - Net

Other income 17

Profit before final taxes Final Tax (u/s 100D) Profit before income tax

Taxation 18

Profit for the year

------ (Rupees in '000) ------

1,698,221

(379,512)

1,318,709

30,951

235,920

12,733

(279,604)

41,762 1,080,868

-

1,080,868

(356,390)

724,478

3,130,807

(1,840,191)

1,290,616

20,023

144,067

44,410

(208,500)

11,318 1,093,435

-1,093,435

(183,579)

909,856

2025 2024

Earnings per share

Basic 19

Diluted 19

---------- Rupees ---------

1.90

1.90

2.39

2.39

The annexed notes from 1 to 22 form an integral part of these condensed interim financial information.

COMPREHENSIVE INCOME (UNAUDITED)

FOR THREE MONTHS PERIOD ENDED SEPTEMBER 30, 2025

Three month period ended

Note

September 30,

2025

September 30,

2024

------ (Rupees in '000) ------

909,856

-

909,856

724,478

724,478

-

Profit for the year

Other comprehensive income, net of tax

Total comprehensive income for the period, net of tax

The annexed notes from 1 to 22 form an integral part of these condensed interim financial information.

CONDENSED INTERIM UNCONSOLIDATED STATEMENT OF CHANGES IN EQUITY (UNAUDITED)

FOR THREE MONTHS PERIOD ENDED SEPTEMBER 30, 2025

Issued,

Capital reserves

Revenue reserves

Surplus

on

revaluation of freehold land

Total Equity

subscribed and

paid-up capital

Share premium

Tax holiday reserve

General

Unappropri-ated profits

3,808,604

2,746,327

11,966

63,500

9,409,551

8,685,702

24,725,650

3,808,604

2,746,327

11,966

63,500

10,089,483

8,661,942

25,381,822

-

-

-

-

724,479

-

724,479

-

-

-

-

-

-

-

-

-

-

724,479

-

724,479

(1,904,302)

(1,904,302)

-

-

-

-

10,455

(10,455)

-

3,808,604

2,746,327

11,966

63,500

8,920,114

8,651,487

24,201,996

------ (Rupees in '000) ------

Balance as at June 30, 2024

3,808,604

2,746,327

11,966

63,500

9,958,939

8,749,900

25,339,236

Profit for the period

-

-

-

-

909,856

-

909,856

Other comprehensive income/(loss), net of tax

-

-

-

-

-

-

Total comprehensive income, net of tax

-

-

-

-

909,856

-

909,856

Final dividend @ 40 percent on ordinary shares for the year ended June 30, 2024

(1,523,442)

(1,523,442)

Revaluation surplus on land realised

on account of sale of development properties

-

-

-

-

64,198

(64,198) -

Balance as at September 30, 2024

Balance as at June 30, 2025

Profit for the period

Other comprehensive income/(loss), net of tax

Total comprehensive income, net of tax

Final dividend @ 50 percent on ordinary shares for the year ended June 30, 2025

Revaluation surplus on land realised

on account of sale of development properties

Balance as at September 30, 2025

CASH FLOWS (UNAUDITED)

FOR THREE MONTHS PERIOD ENDED SEPTEMBER 30, 2025

Three month period ended

Note

September 30,

2025

September 30,

2024

CASH FLOWS FROM OPERATING ACTIVITIES

Profit before taxation

Adjustments:

Depreciation Amortization Provision for gratuity Finance costs

Mark-up on saving accounts

Operating profit before working capital changes (Increase) / decrease in current assets

Trade debts Development properties Loans and advances

Deposits, prepayments and other receivables Short term investment

Increase / (decrease) in current liabilities

Trade and other payables Contract Liabilities

Cash flows generated from operations

(Payments) / receipts for:

Income tax paid

Finance cost paid / received Gratuity paid

Net cash flows generated from Operating activities CASH FLOWS FROM INVESTING ACTIVITIES

Additions to property and equipment Interest received

Advance against issuance of units Investment in financial instruments Net cash used in investing activities

------ (Rupees in '000) ------

1,080,868

55,910

193

8,200

12,733

(95)

76,941

1,157,808

63,869

(146,407)

29,940

(128,721)

0

(181,319)

482,738

52,643

535,381

1,511,870

(59,656)

52,371

(1,012)

1,503,574

(174,430)

95

202,798

(731,610)

(703,147)

1,093,435

22,249

288

7,663

44,410

(99,113)

(24,503) 1,068,932

(1,803,344)

1,587,772

490,120

(141,933)

6,256

138,871

208,299

24,309

232,608

1,440,411

(22,804)

(217,658)

(3,325)

1,196,624

(121,772)

99,113

(212,440)

(630)

(235,729)

CONDENSED INTERIM UNCONSOLIDATED STATEMENT OF CASH FLOWS (UNAUDITED)

FOR THREE MONTHS PERIOD ENDED SEPTEMBER 30, 2025

Three month period ended

Note

September 30,

2025

September 30,

2023

CASH FLOWS FROM FINANCING ACTIVITIES

- (Rupees

in '000) ------

(Repayment) / Receipt of long-term finance

(243,406)

(1,165,139)

(Repayment) of short term borrowings-net

(479,350)

313,405

Deferred grant

19,902

(757)

Net cash used in financing activities

(702,855)

(852,491)

Net increase in cash and cash equivalent

97,571

108,405

Cash and cash equivalents at beginning of the period

46,053

228,031

Cash and cash equivalents at end of the year

143,624

336,435

The annexed notes from 1 to 22 form an integral part of these condensed interim financial information.

  1. STATUS AND NATURE OF BUSINESS

    1. Javedan Corporation Limited (the Company) was incorporated in Pakistan on June 08, 1961, as a public limited company under the repealed Companies Act, 1913 (now Companies Act, 2017) and is listed on Pakistan Stock Exchange Limited. The registered office of the Company is located at Arif Habib Centre, 23, M.T Khan Road, Karachi.

    2. The Company has ceased its cement business since July 01, 2010 and the management has developed business diversification strategy for utilizing the Company's land having area of 1,367 acres for developing a housing scheme, "Naya Nazimabad", that includes bungalows, open plots, flat sites and commercial sites. The Company's layout plan of the project was approved by Lyari Development Authority vide letter number LDA/PP/2010/255 on March 02, 2011, revised master plan approved vide letter No CTP/LDA/112 on June 19, 2013 and revised master plan layout approved vide letter no LDA/TP/2022/98 on June 24, 2022 and has obtained No Objection Certificate from Sindh Building Control Authority having NOC # SBCA/D.D(D-II)/985/ADV-503/2011 on November 12, 2011, revised NOC # SBCA/DD(D-II)/985 & 991/ADV-584/2013 and revise NOC # SBCA/DD(PSA-C)/155/Revised/Adv-236/2023 on January 16, 2023. The Company is also the member of Association of Builders and Developers of Pakistan (ABAD).

    3. These Condensed interim financial Statements are the separate financial statements of the Company, in which investment in subsidiary has been accounted for at cost less accumulated impairment lossess, if any. As of September 30, 2025, the Company has investments in following subsidiaries:

      % of holding

      • NN Maintenance Company (Private) Limited (NNMC) 100%

      • Sapphire Bay Development Company (Private) Limited (SBDCL) 100%

    4. The geographical location and addresses of business units are as under:

      Location Address

      Registered office Arif Habib Centre, 23, M.T Khan Road, Karachi

      Naya Nazimabad Project Naya Nazimabad, Deh, Manghopir road, Gadap town, Scheme

      #43, Karachi

      Naya Nazimabad Sales Center Naya Nazimabad, Deh, Manghopir road, Gadap town, Scheme

      #43, Karachi

      Naya Nazimabad Branch 1st Floor, City Tower, Block K, Gulberg 2, Main boulevard, Lahore

  2. STATEMENT OF COMPLIANCE

    - International Accounting Standard (IAS) 34, 'Interim Financial Reporting', issued by International Accounting Standard Board (IASB) as notified under the Companies Act, 2017; and

    These condensed interim financial statements of the Company for the three months period ended September 30, 2025 has been prepared in accordance with the accounting and reporting standards as applicable in Pakistan for interim financial reporting. The accounting and reporting standards as applicable in Pakistan for interim financial reporting comprise of:

    - Provisions of and directives issued under the Companies Act, 2017.

    Where the provisions of and directives issued under the Companies Act, 2017 differ with the requirements of IAS 34, the provisions of and directives issued under the Companies Act, 2017 have been followed.

  3. BASIS OF PREPARATION

    1. The preparation of these condensed interim financial statements require management to make judgements, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets and liabilities, income and expense. Actual results may differ from these estimates.

      In preparing these condensed interim financial statements, the significant judgements made by the management in applying the Company's accounting policies and areas where assumptions and estimates are significant are same as those applied to the annual financial statements of the Company as at and for the year ended June 30, 2025. The Company's financial risk management objectives and policies are consistent with those disclosed in the annual financial statements of the Company as at and for the year ended June 30, 2025.

    2. These condensed interim financial statements is presented in Pakistan Rupees which is also the Company's functional currency and all financial information presented has been rounded off to the nearest rupees, otherwise stated.

  4. SIGNIFICANT ACCOUNTING POLICIES

    The accounting policies and the methods of computation adopted in the preparation of these condensed interim financial statements are the same as those applied in the preparation of the annual financial statements for the year ended June 30, 2025, except for the adoption of the new/amended standards, interpretations and improvements to accounting standards, which became effective for the current period.

    The adoption of above standards, interpretations and improvement to standards did not have any material effect or either not relevant or did not have any material effect on the condensed interim financial information.

    Note

    (Unaudited) September 30,

    2025

    (Audited) June 30,

    2025

    ------ (Rupees in '000) ------

  5. PROPERTY AND EQUIPMENT

    Opening Net Book Value

    8,768,188 6,181,768

    Add: Additions during the period/year

    5.1

    37,914

    98,296

    Less: Disposal during the period/year

    (84)

    2,661,635

    Less: Depreciation during the period/year

    (55,910)

    (173,511)

    Closing Net Book Value

    8,750,108

    8,768,188

    Add: Capital work-in-progress

    5.3

    1,617,936

    1,481,420

    10,368,044

    10,249,608

    Note

    (Unaudited) September 30,

    2025

    (Audited) June 30,

    2025

    1. Additions during the period / year were as follows

      Buildings on other land Recreational facilities Furniture and fixtures Office equipment Computer equipment Vehicles

      Other assets

    2. The following assets were disposed off during the period / year:

      Office equipment

    3. Capital work-in-progess

      Opening

      Additions to capital work-in-progress Transfer from capital work-in-progress Closing

  6. LONG TERM INVESTMENT

    Investment in subsidiaries at cost

    • NN Maintenance Company (Private) Limited - subsidiary company

    • Sapphire Bay Development Company Limited - subsidiary company

    Debt Instruments - designated at fair value through profit or loss ' Signature Residency REIT

    Carrying Amount

    Appreciation on remeasurement of investment

    Debt Instruments - designated at fair value through profit or loss ' Naya Nazimabad Apartment REIT

    Carrying Amount

    Appreciation on remeasurement of investment

    Equity Instruments - designated at fair value through profit or loss ' Sapphire Bay Islamic Development REIT

    Carrying Amount

    Addition during the period

    Appreciation on remeasurement of investment

    ------ (Rupees in '000) ------

    -33,404

    2,441

    64

    1,922

    -

    82

    37,914

    84

    84

    1,481,420

    136,516

    -

    1,617,936

    10,000

    100,000

    110,000

    161,832

    -

    161,832

    3,912,063

    -

    3,912,063

    4,268,373

    731,610

    -

    4,999,983

    9,183,878

    23,609

    3,787

    40,872

    22,310

    6,518

    1,200

    -

    98,296

    -

    -

    3,602,379

    540,676

    (2,661,635)

    1,481,420

    10,000

    100,000

    110,000

    151,932

    9,900

161,832

3,105,986

806,077

3,912,063

4,268,373

-

-

4,268,373

8,452,268

17 QUARTERLY REPORT SEPTEMBER 2025

Note

(Unaudited) September 30,

2025

(Audited) June 30,

2025

  1. DEVELOPMENT PROPERTIES

    Land for development

    Add: Acquired During the period

    Development expenditure

    Opening balance

    Add: Incurred during the period

    Borrowing costs related to development properties

    Opening balance

    Add: Additions during the period

    Transferred to:

    • property, plant and equipment

    • investment properties

    • cost of sales to date 16

    • development charges incurred and apportioned to date 16

  2. Trade Debts

    Secured, considered good

    Receivable against:

    • sales of plots and bungalows 8.1

    • sales of NN Gymkhana memberships

    • utilities infrastructure charges

    • development charges incurred:

      • billed 8.2

      • un-billed 8.3

    Allowance for expected losses

    8.4

    ------ (Rupees in '000) ------

    19,275,200

    90,000

    19,365,200

    -

    19,365,200

    15,894,647

    322,629

    16,217,276

    6,267,454

    26,814

    6,294,268

    41,876,744

    (597,080)

    (40,291)

    (19,633,342)

    (6,652,672)

    14,953,358

    19,365,200

    14,433,230

    1,461,417

    15,894,647

    6,172,198

    95,256

    6,267,454 41,527,301

    (597,080)

    (40,291)

    (19,503,425)

    (6,579,554)

    14,806,951

    1,749,460

    151,941

    60,529 1,961,929

    156,977

    365,793

    522,770

    -

    2,484,699

    1,809,836

    130,214

    66,648 2,006,698

    184,206

    357,664

541,870

-

2,548,568

    1. This includes:

      • Rs. 148.148 million, receivable from Garden view Apartment REIT (GVAR), a REIT Scheme managed by Arif Habib Dolmen REIT Management Limited, (a related party) on account of sale of land (2025: Rs. 148.148 million).

      • Rs. 266 million, receivable from Arif Habib Corporation Limited (a related party) on account of sale of land (2025: Rs. 266).

        1. Represents development cost billed to customers as per the terms of their sale agreement.

        2. Represents development cost incurred but not billed to customers as of reporting date, however the same will be billed to the respective customers in accordance with the terms of the sale contract.

          Note

          (Unaudited) September 30,

          2025

          (Audited) June 30,

          2025

        3. Included herein related party balances as follows,.

        Garden view Apartment REIT Abdul Ghani

  1. LOANS AND ADVANCES - Considered good

    Loans - secured Executives Employees

    Advances - unsecured

    Suppliers Contractors

    Employees for expenses Purchase of properties

  2. TRADE DEPOSITS, PREPAYMENTS AND OTHER RECEIVABLES

Deposits

Considered good

  • Security deposit with Sindh Building Control Authority

  • Others

    Considered doubtful

  • Guarantee margin

  • Contractors

Provision for impairment

Prepayments

Prepaid rent, insurance and expenses

Other receivables - Considered good

Sales tax refundable Excise duty refundable

Receivable from related parties - considered good 10.1

Others

Provision for impairment

------ (Rupees in '000) ------

148,148

3,412

15,708

1,847

17,554

341,384

186,523

6,893

14,150

548,950

566,505

3,345

14,723

18,068

225

2,680

2,905

(2,905)

18,068

14,180

4,703

574

1,231,209

105,069

1,341,555

(388,877)

984,925

148,148

3,412

10,323

1,698

12,021

358,638

206,465

5,171

14,150

584,424

596,445

3,345

14,724

18,069

225

2,680

2,905

(2,905)

18,069

9,082

4,704

574

1,160,171

52,481

1,217,930

(388,877)

856,204

19 QUARTERLY REPORT SEPTEMBER 2025

(Unaudited) September 30,

(Audited) June 30,

Note

2025

2025

- (Rupees

in '000) ------

10.1. Included herein receivables from related parties, as follows:

- NN Maintenance Company (Private) Limited - subsidiary company

795,129

783,329

- Rahat Residency REIT

25,555

24,843

- Naya Nazimabad apartment REIT

14,223

12,132

- Garden view apartment REIT

19,202

19,202

- Hill view apartment REIT

4,884

4,884

- Globe Residency REIT

58,451

41,546

- Sapphire Bay Development Company Limited

26,223

26,206

- Arif Habib Engineering and development consultants (Pvt) Limited

282,512

243,000

- Naya Nazimabad IT Park

5,029

5,029

1,231,209

1,160,171

11. LONG-TERM FINANCING

Term finance loan I

1,019,767

1,275,323

Term finance loan II

900,000

900,000

Term finance loan III

850,000

850,000

Term finance loan IV

500,000

500,000

Sukuk certificates

747,498

747,266

Diminishing musharakah I

345,511

345,511

Diminishing musharakah II

476,585

479,710

Diminishing musharakah III

696,286

696,286

Islamic refinance facility

398,843

355,314

5,934,490

6,149,410

Current maturity of long-term financings

(2,250,406)

(2,327,680)

11.1

3,684,084

3,821,730

11.1 The terms and conditions of Long-term financing arrangements are same as disclosed in note 22 to the annual audited financial statements of the Company for the year ended 30 June 2025

Note

(Unaudited) September 30,

2025

(Audited) June 30,

2025

  1. TRADE AND OTHER PAYABLES

    ------ (Rupees in '000) ------

    Creditors and Contractors

    109,434

    91,650

    Accrued liabilities

    78,341

    142,486

    Retention money

    70,245

    111,127

    Withholding tax payable

    28,310

    13,066

    Other payables:

    - on cancellation of plots

    8,917

    8,917

    - against other projects

    4,787,917

    4,638,245

    - against musharaka partners

    964,208

    565,103

    - against broker market

    10,440

    10,440

    - non-violation charges

    117,329

    110,694

    - Signature Residency REIT

    55,025

    55,698

    - Gymkhana Apartment REIT

    243,954

    6,474,118

    243,954

    5,991,380

  2. SHORT-TERM BORROWINGS - Secured

    Musharakah arrangement

    Running finance under mark-up arrangements Running finance under mark-up arrangements

    From related parties - unsecured

    Sapphire Bay Development Company Limited (SBDCL) Arif Habib (AH)

    13.1.

    295,000

    -13,607

    395,360

    -

    600,000

    1,008,967

515,726

377,591

100,000

200,000

1,488,317

13.1. The terms and conditions of short term borrowings are same as disclosed in note 29 to the annual audited financial statements of the Company for the year ended 30 June 2025.

  1. CONTINGENCIES AND COMMITMENTS

    The status and nature of contingencies and commitments are same as those disclosed in note 30 to the annual audited financial statements of the Company for the year ended June 30, 2025.

    Three month period ended

    September 30,

    2025

    September 30,

    2024

  2. REVENUE

Local sales, at a point in time Gross

Plots

Development and utility charges reimbursable from customers

Revenue from Naya Nazimabad Gymkhana and related services

Club admission fees Gymkhana Services

Other Revenues:

Transfer Fees

NOC charges for construction verification Rental Income from Sports facilities

Ali Habib Medical Centre

Gross Revenue

  1. COST OF SALES

    Cost of development properties sold:

    • plots

    • Gymkhana Services

      Development charges:

    • Development and utility charges incurred and apportioned to customers

      Directly Attributable Finance Cost :

    • plots

    • Development and utility charges incurred and apportioned to customers

      ------ (Rupees in '000) ------

      1,390,901

      100,635

      84,810

      24,691

      109,501

      74,868

      8,000

      9,044

      5,272

      97,184

      1,698,221

      129,917

      17,655

      147,572

      73,118

      131,305

      27,517

      158,822

      379,512

      2,926,551

      165,677

      -2,949

      2,949

      24,495

      -5,363

      5,773

      35,631

      3,130,807

      1,674,514

      -1,674,514

      165,677

      -

      -

      -

      1,840,191

      Three month period ended

      September 30,

      2025

      September 30,

      2024

  2. Other income

------ (Rupees in '000) ------

Income from financial assets

Re-measurement loss on investment in Shares

-

(6,256)

Income from non-financial assets

Amortisation of deferred grant

8,585

8,771

Dividend Income

22,440

-

Others

10,737

8,804

41,762

11,318

18. TAXATION

Current

361,637

184,838

Deferred

(5,247)

(1,259)

356,390

183,579

19. EARNINGS PER SHARE

Basic

Profit after tax (Rupees in '000)

724,478

909,856

Weighted average numbers of ordinary shares

380,860,447

380,860,447

Earnings per share - (Rupees)

1.90

2.39

Diluted

Profit after tax

724,478

909,856

Weighted average numbers of ordinary shares

380,860,447

380,860,447

Earnings per share - (Rupees)

1.90

2.39

20. TRANSACTIONS WITH RELATED PARTIES

The related parties comprise of associates and their close family members, key management personnel and post employment benefit plan. The details of transactions with related parties during the year, other than those which have been disclosed elsewhere in these financial statements, are as follows:

(Unaudited) (Unaudited)

Three month period ended

September 30,

2025

September 30,

2024

------ (Rupees in '000) ------

Subsidiary Companies

NN Maintenance Company (Private) Ltd

Expenses incurred on behalf of NNMC by the Company

14,698

169,386

Amount paid by NNMC to the Company

Expenses incurred by NNMC on behalf of the Company

143,000

2,898

127,000

9,618

(Unaudited) (Unaudited)

Three month period ended

September 30,

2025

September 30,

2024

------ (Rupees in '000) ------

Sapphire Bay Development Company Limited [SBDCL]

Markup income on advance against issuance of Shares

-

4,898

Loan repaid

100,000

-

Expenses incurred on behalf of SBDCL by the Company

Markup expense on loan received from SBDCL

17

-

-

10,006

Associates

Arif Habib Corporation Limited

Short-term borrowing paid during the period

-

200,000

Markup capitalize on short term-borrowing

Markup paid during the period

-

-

2,895

10,558

NN Apartment REIT

Expenses incurred on behalf of NNAR by the Company

2,091

-

Short term advance received

-

485,133

Markup income on short-term-advance extended during the period

-

6,208

Expenses incurred received on behalf of NNAR by the Company

- 25,387.28

Signature Residency REIT

Expenses incurred on behalf of SRR by the Company

673 -

Globe Residency REIT

Expenses incurred on behalf of GRR by the Company 16,905 2,795 Expenses incurred received on behalf of GRR by the Company - 21,573

Power Cement Limited

Purchase of construction material - 2,411 Paid against the purchase of construction material 1,991 3,636

Aisha Steel Limited

Purchase of GI sheets for NN Gymkhana 1,565 -

Paid against the purchase of GI Sheets 1,565 -

Rotocast Engineering Company (Private) Limited

Services received during the period

725

658

Paid against services received

684

636

Rent prepaid during the period

1,228

1,117

Rent expense charged during the period

614 1,117

Arif Habib Engineering and development consultants (Pvt) Limited

Reimbursement of Administrative expenses

39,000 39,000

(Unaudited) (Unaudited)

Three month period ended

September 30,

2025

September 30,

2024

Safe Mix Concrete Limited

Purchase of construction material

Paid against the purchase of construction material

------ (Rupees in '000) ------

39,625

47,707

21,762

10,529

Key management personnel

Arif Habib - Director

Short-term loans received during the period

800,000

-

Short-term loans repaid during the period

400,000

Mark-up expense on short term-borrowing

42,717 -

Post employment benefit plan

Gratuity fund trust - contribution paid during the period

1,012 3,325

21.

DATE OF AUTHORISATION FOR ISSUE

This condensed interim financial information was authorized for issue on 25th October 2025 by the Board of Directors of the Company.

22. GENERAL

Director

Chief Executive Officer

Chief Financial Officer

Figures have been rounded-off to the nearest thousands rupees.



CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS

FOR THREE MONTHS PERIOD ENDED SEPTEMBER 30, 2025

JAVEDAN CORPORATION LIMITED

26

OF FINANCIAL POSITION

AS AT SEPTEMBER 30, 2025

Note

(Unaudited) September 30,

2025

(Audited) June 30,

2025

ASSETS

Property and equipment

5

10,253,650

Intangible assets

3,638

Investment properties Long term deposits

640,550

7,985

Long-term investments

6

8,342,268

Long term advances

1,635,564

Deferred Tax

114,379

Current Assets

20,998,034

Development properties

7

14,806,950

Trade debts

8

2,853,920

Loans and advances Short Term Investment

9

1,264,172

1,502,500

Trade deposits, prepayments and other receivables

10

1,548,509

Unclaimed deposits

941

Cash and bank balances

201,960

Total Assets

SHARE CAPITAL AND RESERVES

Share capital

22,178,952

43,176,986

390,000,000 (2025: 390,000,000) ordinary shares of Rs.10/- each

3,900,000

Issued, subscribed and paid-up capital

3,808,604

Capital reserves

2,758,293

Revenue reserves

10,211,749

Other component of equity - revaluation surplus on lands

8,661,942

25,440,588

Non-Current Liabilities

Long-term financing

11

3,821,730

Deferred Grant

71,171

Deferred tax liability

560,219

Deferred liability - gratuity

128,070

Current Liabilities

4,581,190

Trade and other payables

12

6,134,695

Advance against issue of shares

1,802,865

Preference shares

505

Accrued mark-up Contract liabilities

219,308

891,723

Short-term borrowings

13

1,388,317

Current maturity of non-current liabilities

2,356,166

Taxation - net

333,992

Unpaid dividend

424

Unclaimed dividend

27,213

13,155,208

TOTAL EQUITY AND LIABILITIES

43,176,986

CONTINGENCIES AND COMMITMENTS

14

Non-Current Assets

------ (Rupees in '000) ------

10,371,937

3,445

640,550

7,985

9,073,878

1,432,729

115,853

21,646,377

14,953,358

2,797,879

1,243,031

1,502,500

1,629,556

941

321,953

22,449,218

44,095,596

3,900,000

3,808,604

2,758,292

9,031,157

8,651,486 24,249,540

3,684,084

91,072

554,972

136,707

4,466,834

6,618,294

1,702,865

505

284,413

944,366

1,008,967

2,250,406

637,588

1,904,742

27,077

15,379,223

44,095,596

EQUITY AND LIABILITIES

Authorised

The annexed notes from 1 to 22 form an integral part of these condensed interim financial information.

Javedan Corporation Limited

CONDENSED INTERIM CONSOLIDATED STATEMENT OF PROFIT OR LOSS (UNAUDITED)

FOR THREE MONTHS PERIOD ENDED SEPTEMBER 30, 2025

Three month period ended

Note

September 30,

2025

September 30,

2024

1,806,289

(471,981) 1,334,308

30,944

267,794

12,741

(311,479)

47,448 1,070,277

-

1,070,277

(357,020)

713,257

------ (Rupees in '000) ------

Revenue

15

3,190,815

Cost of sales

16

(1,910,768)

Gross profit

1,280,047

Expenses

Marketing and selling expenses

20,023

Administrative expenses

163,233

Finance cost - Net

54,470

(237,726)

Other income

17

30,186

Profit before final taxes

1,072,507

Final Tax (u/s 100D)

(852)

Profit before income tax

1,071,655

Taxation

18

(179,595)

Profit for the year

892,060

2025

2024

Earnings per share

Basic 19

Diluted 19

---------- Rupees ---------

1.87

1.87

2.34

2.34

The annexed notes from 1 to 22 form an integral part of these condensed interim financial information.



Chief Executive Officer

Chief Financial Officer

Director

JAVEDAN CORPORATION LIMITED

28

OF COMPREHENSIVE INCOME (UNAUDITED)

FOR THREE MONTHS PERIOD ENDED SEPTEMBER 30, 2025

Three month period ended

Note

September 30,

2025

September 30,

2024

------ (Rupees in '000) ------

892,060

-

892,060

713,257

713,257

-

Profit for the year

Other comprehensive income, net of tax

Total comprehensive income for the period, net of tax

The annexed notes from 1 to 22 form an integral part of these condensed interim financial information.

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