Thakral posts record 2025 profit of $170.9 mil

Deepa Chevi

/ EdgeProp Singapore

February 27, 2026 5:25 PM SGT

propertyeditor@edgeprop.sg

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The listing of investee companies — GemLife in Australia and The Beauty Tech Group (pictured) in London — lifted Thakral Corporation's valuation gains for the year (Photo: The Beauty Tech Group)

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.

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.