Thakral Corporation reported its highest ever net profit of $170.9 million for the financial year ended Dec 31, 2025, with revenue rising 42% y-o-y to $411.3 million.

FY2025 marked a milestone year, highlighted by the listing of its investee companies — GemLife in Australia and The Beauty Tech Group in London — which resulted in fair valuation gains after their securities closed the year 22% and 7% above their respective listing prices.

Beyond investment gains, Thakral pointed to improving contributions from its property assets and development pipeline.

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In Japan, its commercial properties in Osaka benefited from stronger rental momentum and declining vacancy rates. Profit-sharing at the Best Western Hotel has exceeded minimum thresholds, entitling the company to a 30% revenue share that is expected to contribute positively to earnings through FY2026.

GemLife, which develops and manages over-50s lifestyle resorts in Australia, has guided earnings per share of 28.5 to 30.0 Australian cents for FY2026, representing expected growth of 20% to 27%, providing greater earnings visibility for Thakral’s investment portfolio.

Thakral is also expanding its real estate exposure in India. It previously acquired a 13.64% stake in a 21-acre mixed-use healthcare-led development site in Gurugram and recognised a fair valuation uplift of $9.2 million from the investment.

It has entered agreements to acquire an additional 81.64% stake in TIL Investments for $93.9 million, which would raise its equity stake to 95.28%, subject to shareholder approval. The site has more than 2.5 million sq ft of development potential and will feature a hospital, health and wellness centre and residential components. The group is in advanced discussions with a tier-one hospital operator and residential partners to manage operational risks and costs.

Thakral declared a second interim dividend of 3.5 cents per share, bringing the total FY2025 dividend to 6.5 cents, equivalent to an annualised dividend yield of 4.1% based on the year-end share price of $1.60.

Group CEO and executive director Inderbethal Singh Thakral says the group expects earnings contributions from its Japan property portfolio and India development initiatives to support longer-term growth, supported by a balanced portfolio of operating businesses, development projects and investments.

Read also: Thakral Corporation’s net profit declined 4.9% y-o-y to $3.37 mil for 1QFY2025 from forex losses and higher income tax

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