Karachi : The Board of Directors of Javedan Corporation Limited (JCL) on Monday announced the financial results for the year ended June 30, 2023. JCL has recorded a profit of PKR 8 billion, representing the company’s highest ever profit.
The Board of Directors has also approved a final cash dividend of PKR 6 per share, equivalent to 60% of the face value amounting to a payout of PKR 2.3 billion.
Javedan Corporation Limited is the owner company of Naya Nazimabad, an integrated housing scheme which focuses on healthy community living. It is the largest master-planned, gated residential development in the centre of Karachi and will house more than 50,000 families at its completion. With meticulously integrated amenities designed to cater to contemporary lifestyles, everything residents require is conveniently within reach. A project of Javedan Corporation Limited, Naya Nazimabad is a self-contained city, conceptualized and developed with the vision of providing a peaceful community atmosphere and promotes a wholesome and holistic lifestyle.
Naya Nazimabad embarked on a series of apartment projects under the innovative REIT model. Till date, the Company launched Signature Tower, Globe Residency Apartments, Rahat Residency Block B and Block D. The public response to these initiatives has been overwhelmingly positive.
Commenting on the results, Samad Habib, CEO, JCL said, “We are delighted to present these impressive financial results for the fiscal year 2023. Our commitment to fostering a vibrant and secure community, along with prudent financial management, has played a pivotal role in achieving these positive outcomes. We extend our heartfelt gratitude to our esteemed shareholders and residents for their continued support and trust in us. Looking ahead, we remain dedicated to enhancing the overall living experience for all our residents.”