Karachi, October 06, 2023 (PPI-OT): TPLP: FY23 Analyst Briefing Takeaways

TPL Properties Limited (TPLP) held its corporate briefing session yesterday to apprise investors on their FY23 financial performance and future outlook. To recall, the company reported a consolidated NPAT of PkR2.97bn in FY23, a significant 45%YoY decline compared to the NPAT of PkR5.34bn in SPLY. The downturn is primarily attributed to the absence of one-offs, specifically the gain on investment properties (PkR3.5bn) in the previous fiscal year.

RIET Fund-I has grown to PkR32bn in Assets Under Management and intends to expand further in multiple phases, attracting investments from local and international investors.

Construction has commenced on the One-Hoshang project, with work on the grey structure scheduled to begin in two weeks from now. Meanwhile, the infrastructure work on the Mangrove project is scheduled to commence in ongoing quarter.

Management envisions entering the telecom towers and actively expanding its portfolio into new asset classes, including Regional Hospitality Funds and advisory services for "Abhi" Finance.