Karachi: TPL Properties Limited announced a consolidated loss of Rs1.9 billion for FY25 during its corporate briefing, attributing the setback to ongoing investments and project developments. The company anticipates future dividends from real estate projects, including the One Hoshang and Mangrove projects, which are expected to bolster financial performance in the coming years.

According to JS Global, TPL Properties primarily engages in investments through REIT funds managed by its wholly owned subsidiary, TPL REIT Management Company Limited. The company also undertakes project development through TPL Developments (Pvt.) Limited. Looking ahead, TPL Properties forecasts dividends from the sale of the One Hoshang project in FY26 and recurring payouts from joint developments and project disposals through 2035. The proceeds from land sales will initially flow to the SPV of TPL REIT Fund 1, with subsequent dividends declared to benefit shareholders, including TPL Properties.

Management indicated that the Mangrove project remains on track, with the master planning phase complete and construction of the first tower, Lagoon Views-1, having commenced in late 2025. Land appreciation has been noted, increasing from Rs13,000 per square yard in December 2021 to Rs35,000, attributed to TPL's strategic presence. The company has partnered with a prominent Karachi developer to expedite the Mangrove project's timeline from 10-12 years to 7-9 years, leveraging local expertise.

TPL Properties further highlighted improvements in road infrastructure, which are expected to reduce travel times and enhance connectivity from the project to key areas such as the KPT Interchange, DHA, and the Malir Expressway. These enhancements are projected to alleviate congestion and improve accessibility over time.