Colombo, Sri Lanka – 01 September 2026 – Myland Developments PLC (CSE: MYLAND), a prominent player in Sri Lanka’s dynamic real estate sector, today announced the release of its Annual Report for the financial year ended 31st March 2026. The report, titled “Building Your Future: Opening Doors, Empowering Lives,” showcases a significant financial turnaround, marking the company’s successful return to profitability amidst a period of strategic transition and a recovering economic landscape. This achievement underscores Myland’s strengthened operational discipline and steadfast commitment to making property ownership an achievable milestone for hardworking Sri Lankans.
Performance Highlights Signal Strong Recovery
The Annual Report 2025/26 reveals robust performance indicators, reflecting a powerful recovery and contrasting sharply with the previous year’s figures. Key financial highlights for Myland Developments PLC include:
- Revenue: A notable increase to LKR 45.69 million for FY 2025/26, up from LKR 43.05 million recorded in the prior year, demonstrating sustained sales momentum.
- Net Income: A remarkable shift from a net loss of LKR 16.76 million in 2024/25 to a profit of LKR 8.83 million in 2025/26, signifying a strong operational rebound.
- EBITDA: Turned positive, reaching LKR 14.40 million from a negative LKR 12.96 million in the previous fiscal year, indicating improved operational efficiency.
- Earnings Per Share (EPS): Improved significantly to LKR 0.24, recovering from a negative LKR 0.46, reflecting enhanced shareholder value.
- Return on Equity (ROE): Moved into positive territory at 5.82% from -11.77%, highlighting better utilisation of shareholder funds.
- Net Asset Value (NAV): Grew to LKR 4.18 from LKR 3.93, indicating an increase in the company’s intrinsic value.
- Inventory Properties: Increased to LKR 246.99 million (from LKR 195.64 million), reflecting strategic land acquisitions and ongoing development.
- Total Shareholders’ Equity: Rose to LKR 151.69 million (from LKR 142.44 million), demonstrating enhanced financial stability and investor confidence.
Chairman’s Review: Foundations for Future Growth
Mr. Savanth Sebastian, Chairman of Myland Developments PLC, highlighted the year as one of “transition, renewal, and important progress.” He noted that considerable effort was directed towards strengthening the company’s foundations following a change in controlling shareholding. The operating environment witnessed an encouraging recovery in the Sri Lankan economy, supported by improved macroeconomic conditions, easing inflationary pressures, stronger external sector performance, and growing investor confidence.
The Chairman emphasized the company’s strategic focus on residential land development, particularly in highly sought-after corridors along expanding expressway networks in the Western Province and other peri-urban and tourism-adjacent growth areas. He reiterated Myland’s commitment to disciplined capital allocation, prudent risk management, and the crucial integration of Environmental, Social, and Governance (ESG) principles into its decision-making processes. The outlook remains cautiously optimistic, with potential synergies expected to arise from closer strategic alignment and collaboration within the broader Ambeon Group ecosystem.
Executive Director’s Review: A Journey of Renewal and Transformation
Dr. Ranjan Dissabandara, Executive Director, elaborated on the company’s transformative journey, focusing on rebuilding and strengthening the internal framework. He expressed satisfaction with the return to profitability, attributing it to “strengthening the operational structure, improving execution discipline, enhancing decision-making processes, and aligning the organisation around a common vision for sustainable growth.”
Dr. Dissabandara observed a discernible market shift towards discerning buyers who prioritize trust, transparency, legal compliance, and long-term value. Myland has proactively responded by enhancing its customer-centric ethos, offering highly flexible financial solutions, such as interest-free installment schemes and seamless bank loan facilitation, and meticulously identifying properties positioned for long-term growth. The company’s focus on reinforcing the Myland brand aims to establish it as a trusted partner that “opens doors and empowers lives” through secure land ownership. Looking ahead, the company is strategically poised for growth and expansion, supported by a strong pipeline of development opportunities and an accelerated push towards enhancing technological capabilities and digitalisation initiatives.
Strategic Priorities for 2026/27 to Sustain Momentum
Myland Developments PLC has outlined clear strategic priorities for the upcoming financial year, aimed at building on its regained momentum and ensuring sustainable long-term value creation:
- Expand the Land Portfolio Development Growth: Continual identification and acquisition of strategically located land assets with strong development potential in high-growth areas.
- Strengthen Operational Project Execution Capability: Further enhancement of project planning, monitoring, and execution processes, alongside internal coordination and accountability for improved delivery and efficiency.
- Enhance Market Presence and Brand Positioning: Reinforcing Myland as a trusted and professionally managed real estate developer through improved communication, targeted marketing, and customer engagement.
- Accelerate Technology & Digital Innovation Transformation: Investing in advanced ERP systems, CRM platforms, digital marketing tools, and operational reporting capabilities to boost efficiency, governance, and customer engagement.
- Improve Customer Experience Creation: Strengthening responsiveness, improving communication channels, and providing transparent, secure, and value-oriented investment opportunities that address evolving customer expectations.
- Maintain Financial Discipline: Adhering to a disciplined approach in capital allocation, project selection, risk management, and resource utilization to safeguard liquidity and ensure sustainable profitability.
- Create Sustainable Long-Term Value: Integrating responsible development practices, strong governance, stakeholder engagement, and disciplined execution into all aspects of the business.
Myland Developments PLC’s Annual Report for FY 2025/26 paints a compelling picture of a company that has successfully navigated complexities, reinforced its foundations, and is now firmly on a path of sustainable growth and enduring value creation for all its stakeholders in Sri Lanka’s dynamic real estate market.
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