Globe Residency REIT profit climbs 7% to Rs578m in FY26

Globe Residency REIT (PSX: GRR) reported a 7% rise in net profit for the fiscal year to June 30, 2026, according to Mettis Global. Profit after taxation climbed to Rs578.18m from Rs539.23m, lifting earnings per unit to Rs4.13 from Rs3.85. The board has also signed off a final cash payout of Rs4.00 per unit, equal to 40%.

Revenue nearly doubled to Rs4.80bn from Rs2.63bn, a jump of 83%, yet cost of sales more than doubled to Rs4.06bn. Gross profit rose 9% to Rs736.51m, while administrative and operating costs grew only 3% to Rs148.78m. Net operating income increased 11% to Rs587.73m from Rs529.84m.

Other income fell 18% to Rs59.53m, and the credit loss allowance more than tripled to Rs12.07m. Management and trustee remuneration each dropped 16%, whereas the SECP fee and marketing expenses both climbed 25%. Profit before taxation reached Rs583.49m, and taxation of Rs5.30m left profit after taxation at Rs578.18m.