Karachi February 27 2023: Globe Residency REIT reported profit of PKR 289 million in first half of fiscal year 2023, according to REIT filling to the Pakistan Stock Exchange.
REIT received revenue of PKR 1.7 billion from customers during the first half against the cost of PKR 1.3 billion. REIT earned gross profit of PKR 381 million in the same period.
REIT incurred administration expenditure of PKR 86.7 million in the first half of fiscal year 2023, fiscal year runs from July to December.
Globe Residency REIT Initial Public Offering (IPO) in December 2022 has been oversubscribed by 2.8 times in bearish market. General Public subscribed 24,794,500 units amounting to PKR 247,945,000 (2.8x) against offering of 14,000,000 units.
