BlueLife Limited Achieves Record Revenue of over 1 Billion Rupees in FY2022-23

Published On: December 15, 2023Company: BlueLife Limited (BLL.mu)
What major achievements has BlueLife Limited made in the financial year 2022-23?
BlueLife successfully generated over 1 billion rupees in revenue and returned to operational profitability after overcoming previous challenges. The company saw growth in both property development and the hospitality sector, with the former contributing to 56% of the Group's total revenue. The Hospitality & Leisure cluster, especially the hotel business, experienced a 60% increase in revenue with record-breaking occupancy rates. The Services cluster made significant improvements in facilities and services, contributing to exceptional lifestyle experiences. Overall, the company made strategic investments in sustainable construction and human capital development, setting a positive trajectory for its future growth.

Annual Report Summary

  • Bluelife Limited has seen significant growth and development, overcoming previous challenges and seizing opportunities within tourism and property development markets.
  • The Group has returned to operational profitability by generating over 1 billion rupees in revenue in the financial year 2022-23.
  • Bluelife’s evolution has extended its operations beyond being a real estate company to every aspect of property development and fostering innovations for a sustainable future.
  • Property development returned to being a core part of operations, with construction resuming after Covid-induced limitations, contributing 56% of the Group’s consolidated Rs 1,007.7 million revenue total.
  • Several new residential projects have been launched and delivered, and others are currently under construction with anticipated handover dates in 2024.
  • Bluelife is focusing on sustainable construction and ecologically conscious design, leading to the re-evaluation and updating of the Azuri Masterplan under the guidance of urban design experts, Atelier LD.
  • The Hospitality & Leisure cluster saw a 60% increase in revenue with record-breaking occupancy rates and exceptional EBIT. The hotel has received several awards for service quality and sustainability efforts.
  • The Services cluster provides comprehensive support and aims to improve lifestyle experiences. Notable advancements were made in the leisure, dining, and retail facilities, including the addition of two padel courts, an art gallery, and an electric bus to increase village-wide mobility.
  • Investments in human capital and skill enhancement initiatives were made, such as compensation structure reviews and training programs, to attract and retain talent.
  • Bluelife management acknowledges and thanks the commitment and efficiency of their team, setting their sights on future plans.

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About BlueLife Limited (BLL.mu)

Ranked as one of the leading real estate business entities in the Indian Ocean region, BlueLife Limited deals in land promotion, property development, and hotel and leisure business. There are four segments in which the company operates from. These are land development, yielding property, hotel, and service. Through these four segments, the company develops and sells residential properties, retail and office properties as well as owns and operates two hotels under the name of Radisson Blu Azuri Resort and Spa and Radisson Blu Poste Lafayette Resort and Spa in Mauritius. BlueLife Limited also provides facilities management and services, management and consultancy services and is based in Forbach, Mauritius. BlueLife Limited is listed on the Stock Exchange of Mauritius.

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