Bangladesh, Nov. 12 -- Eastern Housing's profit declined more than 18 per cent year-on-year in the first quarter of FY27 as weakening demand for apartments amid persistent inflationary pressure continued to weigh on the real estate business.

The company reported a profit of Tk 164 million for the July-September quarter, down from Tk 201 million in the corresponding period of the year before. Earnings per share (EPS) consequently fell to Tk 1.76 in the quarter from Tk 2.16 a year earlier, according to a stock exchange filing on Wednesday.

Apart from the slowdown in apartment sales, lower income from investments also contributed to the earnings decline, according to the company's quarterly financial statements.

The combined impact of we...