TPL Properties Limited (TPLP): Proxy to Pakistan’s growing property market – By Topline Research

<ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">TPL properties (market cap of Rs12bn/US$70mn) is a property development arm of TPL Corporation (market cap of Rs4bn/US$25mn) engaged in the business of real estate development, development management, asset management and property management.</span></li><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">Centrepoint was company&rsquo;s first property project which was completed in 2013 and has been recently sold in May 2021 against sales proceeds of Rs7.7bn, generating an IRR and ROI of 22% and 130%, respectively.</span></li><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">The proceeds from the sale of Centrepoint have been used for retirement of debt and development of new upcoming projects.</span></...