David Pieris Automobiles (Private) Limited and People’s Leasing & Finance PLC have formalised a strategic partnership through the signing of a Memorandum of Understanding (MOU), marking a significant milestone in strengthening collaboration between two of Sri Lanka’s most established and trusted organisations.
The partnership primarily focuses on promoting the GWM and BAIC vehicle ranges marketed by David Pieris Automobiles, the four-wheeler sales arm of the David Pieris Group.
By combining DPA’s strong automotive portfolio with PLC’s expertise in financial services, the collaboration aims to deliver greater value, improved accessibility, and enhanced convenience for customers across Sri Lanka.
The MOU establishes the foundation for a long-term strategic relationship built on trust, excellence, and a shared vision for sustainable growth. With both organisations operating across multiple sectors and holding strong leadership positions in their respective industries, the partnership is expected to open up wider opportunities for future collaboration.
David Pieris Group is one of the country’s leading diversified conglomerates, with interests spanning automotive, financial services, logistics, leisure, IT, renewable energy, shipping and marine services, and real estate.
The group represents globally recognised brands such as Bajaj, KTM, GWM, and BAIC, and operates ventures including Pearl Bay and the Sri Lanka Karting Circuit. It also maintains an international presence across Singapore, the Middle East, Africa, and South Asia.
Similarly, People’s Leasing & Finance PLC is a leading financial services provider in Sri Lanka, offering leasing, lending, and other financial solutions with a strong island-wide customer network.
For more information, customers can contact David Pieris Automobiles via 0114 700678 (BAIC) or 0117 888 666 (GWM), and People’s Leasing & Finance PLC via 0112 631 631.
The signing ceremony featured the exchange of the agreement between Rohana Dissanayake and Sanjeewa Bandaranayake, in the presence of senior representatives from both organisations.
SLT-MOBITEL Strengthens Financial Performance While Driving Sri Lanka’s Digital Transformation
SLT-MOBITEL reported a strong start to 2026, delivering double-digit revenue growth and significantly improved profitability in Q1 2026 compared to the same period in 2025, driven by sustained demand for broadband services and continued expansion in operating performance.
According to financial results released to the Colombo Stock Exchange, the Group’s consolidated revenue rose to LKR 30.8 billion, reflecting a 10.6% increase year-on-year from LKR 27.9 billion in Q1 2025. Gross profit improved to LKR 14.6 billion, up 14.1%, supported primarily by strong broadband uptake and service demand.
Operating profit surged to LKR 5.1 billion, compared to LKR 3.7 billion in the previous year, marking a 39.1% increase. Profit before tax rose sharply to LKR 4.2 billion, up 55.4% from LKR 2.7 billion, while profit after tax increased to LKR 3.1 billion, compared to LKR 2 billion in Q1 2025, reflecting a 53.3% growth.
At company level, Sri Lanka Telecom PLC recorded robust growth, with revenue increasing to LKR 19.7 billion, up 10.6% year-on-year. Gross profit rose to LKR 9.9 billion, while operating profit reached LKR 3.5 billion, reflecting strong operational efficiency and improved margins. Profit before tax stood at LKR 2.9 billion, a 51% increase, while profit after tax rose to LKR 2.1 billion.
Its mobile arm, Mobitel, recorded a 9.9% revenue increase during the quarter, driven by a 28% rise in broadband revenue alongside growth in value-added services, enterprise solutions, and roaming income. Subscriber growth also returned during the quarter, supported by strengthened acquisition and retention strategies.
A key milestone during the period was the public rollout of the Group’s 5G network, enabling wider access to next-generation connectivity across Sri Lanka. The initiative is expected to accelerate digital transformation across sectors such as education, healthcare, manufacturing, and enterprise innovation.
The expansion of broadband and mobile infrastructure is also extending connectivity beyond urban areas into rural communities, improving access to education, economic opportunities, and digital services, and supporting broader national digital inclusion goals.
David Pieris Automobiles Partners with People’s Leasing to Boost BAIC and GWM Vehicle Sales
