The Medine Group has announced a significant increase in its financial results for the year ending June 30, 2026. The company's consolidated revenue reached Rs 7.5 billion, up from Rs 3.4 billion in the previous year. Net profit also saw a substantial rise, from Rs 139 million to Rs 1.9 billion. This growth is attributed to the completion of several large land and real estate projects, as well as improved performance in recurring activities.
The company's real estate segment remains the largest contributor to its revenue, generating Rs 4.6 billion. This growth was primarily driven by the sale of plots in the Pierrefonds 1 development and the delivery of 1,413 lots to their owners. The Medine Group is also developing the Smart City of Medine in the west of the country, which includes the Cascavelle Hospital. The company's property asset management activities also saw a significant increase in revenue, rising by 24% to Rs 589 million.
The agricultural sector, another key area for Medine, reported a 28% growth in revenue, reaching Rs 1.3 billion. Sugar cane production increased by 17%, resulting in 15,800 tonnes of sugar. The company also reported a record onion harvest, with 4,035 tonnes of produce. Despite pressure on input costs, Medine views its agricultural activities as an essential part of its contribution to local food production.
The leisure sector also showed improvement, with Casela reporting a revenue of Rs 586 million, up 11%. This growth was driven by increased visitor numbers, expanded offerings, and enhanced commercial activities. The sports and hospitality segment saw an 18% increase in revenue, reaching Rs 348 million, with EBITDA returning to positive territory at Rs 7 million.
Medine's education sector reported an 8% increase in revenue, reaching Rs 103 million, driven by growth in student numbers at partner institutions. According to Heba Capdevila Jangeerkhan, CEO of Medine, the company's results reflect the commitment of its teams across various sectors. The company aims to continue its development on a sustainable basis, with a new strategy for 2027-2031 focused on increasing regular and diversified revenue.
The Medine Group's Chief Financial Officer, Cindy Choong, highlighted the 21% increase in revenue from recurring operations, demonstrating the company's ability to optimize performance and capitalize on new growth opportunities. The company's solid operational performance has resulted in a net debt of Rs 5.6 billion and a stable CARE MAU A rating.
Looking ahead, Medine plans to continue investing in its core activities while maintaining control over its debt levels. The company's strategy for 2027-2031 aims to increase the proportion of regular and diversified revenue, improving operational profitability by 2031. Key points include a significant increase in revenue, driven by real estate and agricultural sectors, a strong performance in recurring activities, and a focus on sustainable development.
Key points
- Medine Group's revenue surges to Rs 7.5 billion
- Real estate segment drives growth with Rs 4.6 billion in revenue
- Company aims to increase regular and diversified revenue by 2031
