Written by The Banking Post
Eastern Housing Limited (EHL) reported a 27% jump in profit to Tk 201.79 million for the first quarter of FY26, buoyed by strong land sales and modest growth in finance income.
The company’s revenue from land sales surged 38% year-on-year to Tk 480.83 million in the quarter ending September, outpacing its apartment business, which grew 12% to Tk 89.86 million. Overall revenue rose 33% to Tk 570.68 million during the period, helped by a decline in cost of sales.
Finance income also contributed to the earnings boost, rising 5.74% year-on-year to Tk 111.06 million.
Founded before the country’s independence, Eastern Housing is engaged in developing residential and commercial properties including apartments, office spaces, shops, and showrooms. The company remains insulated from rising interest rates, as it carries no borrowings and benefits from healthy bank deposits.
Despite stronger profits, cash flow turned negative in Q1. The company recorded a cash outflow of Tk 0.59 per share, compared to a positive Tk 2.36 per share in the same period last year.
Net asset value (NAV) per share improved to Tk 92.16 in September from Tk 89.99 in June, reflecting stronger asset growth.
Investor sentiment responded positively to the results. Eastern Housing’s share price rose 4.57% to Tk 75.50 on Tuesday at the Dhaka Stock Exchange.
