Date: November 14, 2025 Form-3 The General Manager
Pakistan Stock Exchange Limited Stock Exchange Building
Stock Exchange Road Karachi.
Dear Sir,
We have to inform you that the Board of Directors of our Company in its meeting held on Friday, November 14, 2025 at 10:30 AM at 20thFloor, Sky Tower - East Wing, Dolmen City, HC-3, Abdul Sattar Edhi Avenue, Clifton Block 4, Karachi, recommended the following:
- Cash Dividend: Nil
- Bonus Shares: Nil
- Right Shares: Nil
- Any Other Entitlement: Nil
The financial results of the Company are attached.
The Annual General Meeting of the Company will be held on December 19, 2025 at 11:00 AM at Karachi.
The Annual Report of the Company will be transmitted through PUCARS at least 21 days before of holding of Annual General Meeting.
Yours truly,
Shayan Mufti Company SecretaryTPL PROPERTIES IJMITED
UNCONSOLIDATED STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2025
ASSETS
NON-6URRENTASSETS
Property and equipment
- Intangible aaseB , _
2025
- - Rupees -
85,9M,382
2024
143.027,803
Long-tern Inveaimenta " Long-tern deposits
CURRENT ASSETS
" " " 10;627,1S4;833 " "11,48X,Y77;@0
Z,786,919 2,786,910 10,726,897,134 11,629,592,022
Advances, prepayments and other reoeNables | 24,983,734 | 40,497,263 | |||
Due learn related parties | 7T0,781,893 | 1,129,904,273 | |||
Taxa5on - nat | 100,421,000 | 111,055,362 | |||
ShoA-tern Investments | 464,181 | ||||
Accrued mark-up | 10 | 366,0M,552 | 203,509,482 | ||
Bank balances | 11 | 106,423,297 | 032,841,331 | ||
1,371,139,644 | 2,419,291,892 | ||||
TOTAL ASSETS EQUITY ANO MABJLITiES | 12 087 036 778 | 14,048,883, 14 | |||
SHARE CAPITAL AND RESERVES |
Authorized share capital
750,000,000 ordinary shares of Rs. 10/- aach
r,soo,ooo.,o_oo.. . ? soo,.oon,oo@
Issued, subscribed and paid-up capital | 12 | 5,610,888,792 | 5,810,888,792 | ||||
Capltal rsservac , | (225,e68,846) | (225,666,646) | |||||
Revenue reserve 3,311,034,640 4,508,371,146 | |||||||
8,696,034,786 | 9,983.371,092 | ||||||
NON-CURRENT LIABILITIES | |||||||
Long-tann financing | 13 | 23,571,719 | |||||
CURRENT LIABILITIES | |||||||
Trade and other payables Due to related parties | 14 15 | 983,731,391 | 493,681-,512 | ||||
Accrued mark-up | 1B | 1.72, '58,85B | |||||
Short-tern bonowlngs | " ' | 17 | 1,021,815,083 | 1,985,324,579 | |||
Current portion of long-term financing. | 13 | 60,659,389 | 521,137,053 | ||||
Unclafmed dividend . ..j . ... | 1,075;647 | 1,075,847 | |||||
3,04Z,0Z4,267 | 4,o41:041,103" | ||||||
TOTAL EQUITY AND LI .ABILITIES" | 12,097,036,778 | 14,048,883,914 | |||||
CONTINGENCIES AND COMMITMENTS | 18 | ||||||
The annexed notes from 1 to 34 form an integral part of these uncansolidated financial statements.
CHIEF EXECUTIVE OFFICER CHIEF FINANCIAL OFFCER DIRECTOR
TPL PROPERTIES LIMITED
UNCONSOLIDATED STATEMENT OF PROFIT OR LOSS
FOR THE YEAR ENDED 30 JUNE 2025
2025 | 2024 | |||
hlote | - -- | -- Rupees ------ | ||
Un-realized loss on investment in TPL REIT.Fund I | (639,142,397) | (3,084,780,1 15) | ||
Administrative and general expenses | 19 | (372,714,426) | (650,745,548) | |
Operating loss | (1,011,856,823) | (3,735,525,663) | ||
Finance costs | 20 | (507,735,012) | (603,201,363) | |
Other income . | 21 | 255,126,046 | 708,573,911 | |
Loss before taxation | (1,264,465,789) | (3,630,153,115) | ||
Taxation | 22 | (22,870,617) | ||
- Net loss for the year | 1 287,336,306) | (3,630,153,115) | ||
Loss per share-basic and diluted | 23 | /2.29) | _ {6.47) | |
Tho annexed notes from 1 to 34 form an Intagral part of these unconsolidated financial statements.
" "
CHIEF EXECUTIVE OFFICER CHIEF FINANCIAL OFFICER DIRECTOR
TPL PROPERTIES LIMITED
UNCONSOLIDATED STATEMENT OP COMPREHENSIVE INCOME
FOR THE YEAR EhlDED 30 JUNE 2Q25
2025
---- -- Rupees ----
2024
Net loss for the year
Other comprehensive income
Total comprehenslve"loss for the year
(1,287,336,3Q6)
"(1,287,336,306)
(3,630,153,1 15)
(3,630,153,115)
The annexed notes from 1 to 34 form an Integral part of these unconsolidated financial statements.
- CHIEF EXECUTIVE OFFICER CHIEF FINANCIAL OFFICER DIRECTOR
‹ PL PROPERTIES LIMITED
UNCONSOLIDATEO STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUFIE 2025
Issued, subscribed and paid-up capital | Capital reserves Capital re- Reserve under Share purchase scheme of Other capital Sub-total premium reserve amalgamation reserve account | Revenue reserve Accumulated profit | Total |
- (Rupees-)
Balance as a( 01 July 2025
Total comprehensive loss for the year: Net loss for the year
Other comprehensive income
Transactions wiih owners of the Company Own shar•_s purchased
Balance as at 30 June 2024
Total comprehensive loss for the year.
Net loss for the year
Olher comprehe.nsive income
5,698,065,702
(87,196.910)
5,610,868,782
103,026.162
103,026,162
87,196,910
87,196,910
(426,591,918)
(426,591,918)
10,500,000 , (313,065,756)
87,196,910
10,500,000 (225,868,846)
8,341,584,360 13,72o,584,306
(3,630,153,115)
(3,630.153,115)
(3,630,153,115) (3,630,153,115)
(113.060,099) (113,060,099)
4,598,37 1,146 9,983,371,092
(1,287,336,306)
(1,287,336,306)
(1,287,336,306) (1,287,336,306)
Balance at 30 June 2025
5 610,868 792
103,026,162 87,196,910 (426,591,918) 10 500 000 (225,868 846)
3,311,034,840 8,696,034,786
The annexed notes from 1 to 34 form an into-gral part of these unconsolidaled financial statements.
CHIEF- MECUTIVE OFFICER
CHIEF FINANCIAL OFFICER
DIRECTOR
TPL PROPERTIES LIMITED
UNCONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 JUNE 2025
Note
2025
- Rupees --
2024
CASH FLOW FROM OPERATING ACTIVITIES
Loss before taxation
Adjustments for non-cash items: Depreciatlon
Amortization Finance costs
Gain on sala of operating fixed assets Mark-up on saving accounts Advances written-off
Mark-up on due from related parties
Un-realized loss on investment In TPL REIT Fund I
6.1
20
21
21
21
19
(1,264,465,789) (3.630,153,115)
Working caplCal changes:
Advances, prepayments and other receivables Due from related partles
Trade and othar payables Due to related parties
Finance costs paid
Mark-up on saving accounts received
lncoma lax paid
Net cash generated from / (used In) operating activities
CASH FLOW FROM INVESTING ACTIVITIESInvestment made
Additions to operating fixed assets Advance against equity
Proceeds from sale of operating fixed assets Proceads from sale of investment in TPL REIT Fund I Net cash ganerated from Investing activities
CASH FLOW FROM FINANCING ACTIVITIES
Repayment of long term financing Repayment of short term borrowings
Payment for own shares purchased for cancellation
Net cash (used in) / gendrated from financing activities Net decrease in cash and cash equivalents during the year Cash and cash, equivalents at beglnning of the year
Cash and cash equivalents at end of the year
964,628,380
(19,666,471)
359,112,380
(125,803,552)
490,069,879
37,677,017
507,735,012
(70,964,795)
(14,503,278)
35,200,000
(169,657,973)
639,142,397
703,712,236
(437,031,022)
19,616,201
(11,337,164)
(24,877,158)00,359,998
207,480,270
297,840,268
(135,971,658)
(g63;50g,4g6)
(1,099,481,144)
(826,518,034)
932,94'I ,331
11 106,423,297
3,356,264,889
358,816,751
53.887,247
(473,150,927)
(329,864,624)
52,815,522
56,867
603,201,363
(19.688,784)
(364,900,194)
3,084,780,115
(390,311,553)
(519,950,046)
260,257,960
(3,075,235)
(926,967,100)
(124,900,000)
(411,804)
28,759,033
218,142,385
121,589,614
(51.031,444)
438,340.174
(113,060,099)
274,248,631
(531,128,856)
1,464,070,186
932,941,331
Tho annexed notes from 1 lo 3,4 form an integral part of these unconsolidatad financial statements.
CHIEF EXECUTIVE OFFICER CHIEF FINANCIAL OFFICER DIRECTOR
TPL PROPERTIES LIMITEO
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2025
ASSETS
NON-CURRENT ASSETS
NOt8 -
2025
Rupees ---
2024
Property and equipment | 6 | 165,557,290 | 214,877.208 | |
Right of use assets | 7 | 152,106,045 | 185,893,000 | |
inangible assets | 8 | |||
Long-tern investments | e | 9,620,537,852 | 10,799,177.500 | |
Advance against property | 10 | 800,000,000 | 800,000,000 | |
Due from TPL REIT Fund I | 11 | 792,347,000 | 600,769,000 | |
Long-tern advances and deposits | 6,634,919 | 8,986,916 | ||
CURRENT ASSETS | 11,537,183,106 | 12,609,733,627 | ||
Trade debts | 12 | 134,325,610 | 69,540,919 | |
Advances. prepayments and othar racelvables | 13 | 169,642,936 | 582,477,750 | |
Due from related parties | 14 | 435,406,296 | 187,882,000 | |
Taxation - net | 78,012,488 | 134,691,098 | ||
Short-tern investments | 6,846,179 | 6.845,181 | ||
Cash and bank balances | 15 | 195,904,353 | 1,216,595,207 | |
1,Q20,037,864 | 2,198,032.155 | |||
TOTAL ASSETS | 0 2,557,220,970 | 14,807, 765 782 | ||
EQUITY AND LIABILITIES | ||||
SHARE CAPITAL AND RESERVES |
Authorised share capital
750,000,000 ordinary shares of Rs. 10/- each
7,500,000,000
7,5W000,000
Issued, subscribed and paid-up capital | 16 | 5,610,868,792 | 5,610,868,792 | |
Capital reserves | 200,723,076 | 200,723,075 | ||
Revenue reserve | 1,621,433,965 | 3,642,197,762 | ||
7,833,025,833 | 9,453,789,629 | |||
Non-controillng Interest | (2,160.373) | |||
7,630,865,480 | 9,453,789,629 | |||
NON-CURREHT LIABILITIES | ||||
Long-tarm financing | 17 | 364,388,725 | 32,388,720 | |
Lease liabilites | 18 | 118.906,948 | 137,826,508 | |
Deferred tax liability | 19 | 309,799,000 | 235.263.000 | |
CURRENT LIABILITIES | 793,094,873 | 405.478,228 | ||
Trade and other payables | 20 | 1,720,089,875 | 1,637.134,162 | |
Due to reIated"partIes | 21 | 1,052,055,800 | 570,456,000 | |
Accrued mark-up | 22 | 204,906,269 | 155,971,720 | |
Short-term borrowings | 23 | 1,051,954,633 | 2,010,333,852 | |
Current portion of non-currant liabilities | 24 | 103,198,714 | 573,526,M5 | |
Unclaimed dividend | 1,075,646 | 1,075,646 | ||
4,133,260,837 | 4,948,497,925 | |||
TOTAL EQUITY AND LIABILITIES | 12,557,220,970 | 14,807,765,782 | ||
CONTINGENCIESANDCOIMNHTMENTS | 25 |
The annexed notes from 1 to 44 fom an integral part of these consolidated financial statements.
CHIEF EXECUTIVE OFFICER CHIEF FINANCIAL OFFICER DIRECTOR
TPL PROPERTIES LIMITED
CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 JUNE 2025
NOt6
2025Rupees -
2024
Income / (loss) | 26 | 455,171,138 | (2,176,843,582) | |
Cost of services | 27 | (151,187,815) | (112.961,366) | |
Gross profit / (loss) | 303,983,323 | (2,289,804,648) | ||
Administrative and ganaral expenses | 28 | (1,428,833,867) | (1,380.632,957) | |
Finance coats | 29 | (491,688,560) | (595,593,088) | |
Olher income | 30 | 280,129,977 | 367,763,220 | |
Other expenses | 31 | (411,516,985) | (2.385.000) | |
Loss before levias and income tax | (1,747,926,112) | a,goo,6s2,773) | ||
Levies | 32 | (58,182,540) | (9,783,500) | |
Loss before taxation | (1,806,1Q8,652) | (3.910,436,273) | ||
Taxation | 33 | (128,160,517) | (110,519,000) | |
Net loss for the year | (1,934,269,169) | (4,020,955,273) | ||
Other comprehensive Income | ||||
Itams to be redassified to profit or loss | ||||
in subsequent periods | ||||
Exchange differences on translation ol foralgn subsidiary | (721,000) | (6,801,000) | ||
Total compreñenslve loss tor the year | (1,934,890,169) | (4,027,756,273) | ||
Net loss attributable to: | ||||
Owriem of the Holding Company | (1,920,742,169) | (4,027,756,273) | ||
Non controling interest | (13,527,000) | |||
(1,934,269,169) | (4,027, 756,273) | |||
Other comprehensive income attributable to: | ||||
Ownars of the Holding Company | (742,000) | (6,801,000) | ||
Non control(ng interest | 21,000 | |||
(721,000) | (6.801.000) | |||
Total comprehensive loss attributable to: | ||||
Ownars of the Holding Company | (1,921,484,169) | (4,034,557,273) | ||
Non controling interest
Loss per share-basic and diluted
(13,506,000)
(1,934,990,t69)
34 _ (3.45)
The annexed notes from 1 to 44 fom an integral part of these consolidated financial statements.
CHIEF EXECUTIVE OFFICER CHIEF FINANCIAL OFFICER DIRECTORTPL PBDP€fiTtES LIMTED
co aoua«zso sire Euew or a+c oes iu sourry
FOR TNE 'YEAR BMOED 30 JUNE ¥026
c•plt•l aHeunt
- RuPaas
CF¥EF EXEGuzwE orr ea
J13.5Z0.106
13,594,608,IXI1
TPL PROPERTIES LIMITED
CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 JUNE 2025
CASH FLOW PROM OPERATINO ACTIVITIES | ||||
Loss before taxation | (1,747,926,112) | -3,900.652,773 | ||
Adjustments for non-cash Itams: | ||||
Depreciation | 6 & 7 | 112,933,558 | 118,941,434 | |
Amortisation | 5g,gg7 | |||
Exchange loss | 6 & 7 | (3,759,000) | 6,358.000 | |
Finance costs" Gain on sale of operating fixad assak | 29 30 | 491,d88,580 (70,964,795) | 595,593,088 | |
Un-realized loss on Investment in TPL REIT Fund I | 26 | 639,142,397 | 3,084,760,115 | |
Advances, prepayments and other receivables - wrlnen off | 31 | 409,227,985 | ||
Liabilities no longer payable - written back | 30 | (181,446,000) | ||
Mark-up on saving accounts | 30 | (16,718 182) | (19.729,131) | |
1,381,104,521 | 3,786,000,373 | |||
Wwkinn r.nnitaI r.hannen: | ||||
Trade debts | (64,764,691) | (6,738,386) | ||
Advances, prepayments and other receivables | 38,908,629 | (248,220,764) | ||
Due to related parties | 593,665,600 | (427,593,000) | ||
Trade and other payables | 264,362,693 | (211,422.545) | ||
Due from Related parties | 439.072,298) | 319,186,000 | ||
393,098,333 | (574,788,695) | |||
Finance cost paid | (442,754,011) | (513,008,004) | ||
Markup on savings account raceived | 18,718,182 | 11,378,088 | ||
Income tax pald | (55,128,444) | (141,125,384) | ||
Long-tarn advances and deposits | 2,362,000 | (6,095,000) | ||
Net cash used In operating activities | (452,536,531) | (1,338,291,397) | ||
CASH FLOWS FROM INVESTING ACTIVITIES | ||||
Proceeds from sale of Investments | 207,479,270 | 511,722,004 | ||
Additions to right of use asset | (20,771,306) | |||
Proceeds from sale of operating fixed assets - net | 64,667,435 | (49.790,544) | ||
Proceeds from, sale of intangible assets | 29,519.623 | |||
Effects of translation of investments In foreign subsidiary | (721,000) | (t,801,000) | ||
Dividend paid Advance against equity | 296,816,983 | (48,752,965) | ||
NOt6
2025
Rupees -
2024
Net cash generated from Investlng activities
CASH FLOWS FROM FINANCING ACTIVITIESRepaymen( of long term financing Repayment of short tern borrowlngs
Payment for own shares purchased for cancellation
Net cash (used In) / generated from financlng activities Net decrease In cash and cash equivalents
Cash and cash equivalents at beginning of the year Cash and cash equivalents at end of the year
547,471,382
(157,217,386)
(955,379,319)
(1,115,626,705)
(1,020,690,554)
t,216,595,207196,604,353
435,897,098
(63,677.445)
443,381,027
(113,060,099)
26g,643.483 (635,750,816)
1,852,346,023
1 21a,595,207
CHI
ML OFFICERThe annexed notes from 1 to 44 fom an integral part of these sgnsolidsted financial statements.
CHIEF EXECUTIVE OFFICER DIRECTOR