D.M. Textile Mills Limited has announced that its Board of Directors and shareholders have approved a shift in the company’s principal line of business to real estate.
According to the company’s filing at the Pakistan Stock Exchange (PSX) on Friday, the matter is currently under review by the Securities & Exchange Commission of Pakistan (SECP) and the Company Registration Office (CRO) for necessary action.
The company stated that it has successfully paid off its long-term liabilities to financial institutions, marking a significant achievement in its efforts to revive operations.
Management is optimistic that the transition to real estate will position the company for future growth and stability.
In light of this progress, D.M. Textile Mills has requested the PSX to remove its name from the “defaulter segment,” arguing that the designation is no longer applicable given its financial recovery and strategic realignment.
The company emphasized its commitment to utilizing available resources effectively and expressed confidence in its capability to achieve sustainable growth in the real estate sector.
