KARACHI: Image REIT has reported a strong financial performance for the nine-month period ended March 31, 2026, posting a profit after tax of Rs351.82 million, compared with Rs211.58 million in the corresponding period last year, reflecting robust growth driven by higher rental income and a significant increase in the fair value of its investment property.
The company generated revenue of Rs84.69 million during the period, up from Rs59.15 million a year earlier. Net operating profit rose sharply to Rs76.20 million, compared with Rs41.58 million in the same period last year, highlighting improved operational performance.
A key contributor to the earnings growth was an unrealized gain of Rs275 million arising from the remeasurement of the fair value of the REIT’s investment property. As a result, profit before tax climbed to Rs351.82 million, while earnings per unit improved to Rs1.275, compared with Rs1.151 in the corresponding period of the previous year.
For the quarter ended March 31, 2026, Image REIT reported revenue of Rs29.46 million, up from Rs26.79 million in the same quarter last year. Quarterly profit reached Rs31.30 million, more than double the Rs15.41 million recorded in the corresponding quarter of 2025.
On the balance sheet, the REIT’s total assets increased to Rs3.56 billion as of March 31, 2026, compared with Rs2.42 billion at the end of June 2025. Investment property stood at Rs2.65 billion, while bank balances surged to Rs655.95 million, reflecting a strengthened liquidity position. Total unit holders’ fund also expanded to Rs3.53 billion during the period.
The company also completed the issuance of new units, increasing its paid-up capital to Rs2.76 billion from Rs1.84 billion at the beginning of the financial year. However, the net asset value (NAV) per unit eased slightly to Rs12.80, compared with Rs13.05 as of June 30, 2025.
In its notification to the Pakistan Stock Exchange, the Board of Directors announced that it did not recommend any cash dividend, bonus units, or rights entitlement for the quarter ended March 31, 2026.
