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Eastern Housing's profit jumped 26 per cent year-on-year to Tk 170.4 million in the third quarter of FY25, as apartment and land sales increased.
The lone listed realtor's earnings per share stood at Tk 1.83 for the January-March quarter, up from Tk 1.45 for the same quarter the year before, according to its financial statement published on Monday.
The substantial revenue growth coupled with higher interest income facilitated the profit growth, according to the company's financial statement.
Eastern Housing's short-term investments amount to Tk 4.40 billion in different banks while it has Tk 350 million deposited in the Bangladesh Bank as of March this year.
The property developer's revenue jumped 27 per cent year-on-year to Tk 762 million while finance income soared 66 per cent to Tk 128 million in the March quarter amid rising interest rates.
On top of that, the realtor's zero bank loan was an added advantage when both apartment and land sales increased substantially year-on-year during the quarter.
Land sales rose 16 per cent year-on-year while apartment sales soared more than eight fold in the quarter.
The company's nine-month profit through March soared 28 per cent year-on-year to Tk 559 million while revenue jumped 21 per cent year-on-year to Tk 1.99 billion during the period.
Meanwhile, Eastern Housing's annual profit slid 18 per cent to Tk 564 million in FY24, as apartment sales slowed down in the year for rising costs of building materials and high registration costs.
The recovery has been backed partially by a year-on-year decline in prices of building materials, such as cement and rod.
The company has continued to purchase land at Jahurul Islam City in Aftabnagar for its second and third phase. It has a target to acquire 300 bighas of land for the two extended projects.
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