{"id":271,"date":"2025-12-31T05:58:57","date_gmt":"2025-12-31T05:58:57","guid":{"rendered":"https:\/\/lavastone.mu\/annual-report-2025\/?page_id=271"},"modified":"2026-01-12T18:27:06","modified_gmt":"2026-01-12T18:27:06","slug":"performance-report","status":"publish","type":"page","link":"https:\/\/lavastone.mu\/annual-report-2025\/performance-report\/","title":{"rendered":"Performance Report"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"271\" class=\"elementor elementor-271\" data-elementor-post-type=\"page\">\n\t\t\t\t<div class=\"elementor-element elementor-element-68b5c36 e-con-full elementor-hidden-mobile e-flex e-con e-parent\" data-id=\"68b5c36\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t<div class=\"elementor-element elementor-element-135470c e-con-full e-flex e-con e-child\" data-id=\"135470c\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-ca16316 elementor-widget elementor-widget-heading\" data-id=\"ca16316\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Performance <br>Report<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1a30b38 elementor-widget elementor-widget-heading\" data-id=\"1a30b38\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">OUR PILLARS\nUPHOLD\nCONFIDENCE<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-8de98b4 e-con-full elementor-hidden-desktop elementor-hidden-tablet e-flex e-con e-parent\" data-id=\"8de98b4\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t<div class=\"elementor-element elementor-element-2350cdc e-con-full e-flex e-con e-child\" data-id=\"2350cdc\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-aa74120 elementor-widget elementor-widget-heading\" data-id=\"aa74120\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Performance <br>Report<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3f08476 elementor-widget elementor-widget-heading\" data-id=\"3f08476\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">OUR PILLARS\nUPHOLD\nCONFIDENCE<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-d7bf2cc e-con-full elementor-hidden-mobile e-flex e-con e-parent\" data-id=\"d7bf2cc\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;,&quot;sticky&quot;:&quot;top&quot;,&quot;sticky_on&quot;:[&quot;desktop&quot;,&quot;tablet&quot;,&quot;mobile&quot;],&quot;sticky_offset&quot;:0,&quot;sticky_effects_offset&quot;:0,&quot;sticky_anchor_link_offset&quot;:0}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-473f845 elementor-icon-list--layout-inline elementor-align-center elementor-mobile-align-center elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"473f845\" data-element_type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t\t\t\t<ul class=\"elementor-icon-list-items elementor-inline-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item elementor-inline-item\">\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"#FinancialCapital\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" id=\"b\" viewBox=\"0 0 9.39 9.39\"><g id=\"c\"><polygon points=\"9.39 4.69 0 0 0 9.39 9.39 4.69\" style=\"fill:#f89a31; stroke-width:0px;\"><\/polygon><\/g><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">FINANCIAL CAPITAL<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item elementor-inline-item\">\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"#ManufacturedCapital\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" id=\"b\" viewBox=\"0 0 9.39 9.39\"><g id=\"c\"><polygon points=\"9.39 4.69 0 0 0 9.39 9.39 4.69\" style=\"fill:#f89a31; stroke-width:0px;\"><\/polygon><\/g><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Manufactured Capital<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item elementor-inline-item\">\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"#IntellectualCapital\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" id=\"b\" viewBox=\"0 0 9.39 9.39\"><g id=\"c\"><polygon points=\"9.39 4.69 0 0 0 9.39 9.39 4.69\" style=\"fill:#f89a31; stroke-width:0px;\"><\/polygon><\/g><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Intellectual Capital<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item elementor-inline-item\">\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"#NaturalCapital\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" id=\"b\" viewBox=\"0 0 9.39 9.39\"><g id=\"c\"><polygon points=\"9.39 4.69 0 0 0 9.39 9.39 4.69\" style=\"fill:#f89a31; stroke-width:0px;\"><\/polygon><\/g><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Natural Capital<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item elementor-inline-item\">\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"#SocialCapital\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" id=\"b\" viewBox=\"0 0 9.39 9.39\"><g id=\"c\"><polygon points=\"9.39 4.69 0 0 0 9.39 9.39 4.69\" style=\"fill:#f89a31; stroke-width:0px;\"><\/polygon><\/g><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Social Capital<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item elementor-inline-item\">\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"#HumanCapital\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" id=\"b\" viewBox=\"0 0 9.39 9.39\"><g id=\"c\"><polygon points=\"9.39 4.69 0 0 0 9.39 9.39 4.69\" style=\"fill:#f89a31; stroke-width:0px;\"><\/polygon><\/g><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Human Capital<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-6129cf3 e-con-full elementor-hidden-desktop elementor-hidden-tablet e-flex e-con e-parent\" data-id=\"6129cf3\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;,&quot;sticky&quot;:&quot;top&quot;,&quot;sticky_on&quot;:[&quot;desktop&quot;,&quot;tablet&quot;,&quot;mobile&quot;],&quot;sticky_offset&quot;:0,&quot;sticky_effects_offset&quot;:0,&quot;sticky_anchor_link_offset&quot;:0}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-8343fc6 elementor-icon-list--layout-inline elementor-align-center elementor-mobile-align-start elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"8343fc6\" data-element_type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t\t\t\t<ul class=\"elementor-icon-list-items elementor-inline-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item elementor-inline-item\">\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"#FinancialCapital\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" id=\"b\" viewBox=\"0 0 9.39 9.39\"><g id=\"c\"><polygon points=\"9.39 4.69 0 0 0 9.39 9.39 4.69\" style=\"fill:#f89a31; stroke-width:0px;\"><\/polygon><\/g><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">FINANCIAL CAPITAL<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item elementor-inline-item\">\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"#ManufacturedCapital\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" id=\"b\" viewBox=\"0 0 9.39 9.39\"><g id=\"c\"><polygon points=\"9.39 4.69 0 0 0 9.39 9.39 4.69\" style=\"fill:#f89a31; stroke-width:0px;\"><\/polygon><\/g><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Manufactured Capital<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item elementor-inline-item\">\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"#IntellectualCapital\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" id=\"b\" viewBox=\"0 0 9.39 9.39\"><g id=\"c\"><polygon points=\"9.39 4.69 0 0 0 9.39 9.39 4.69\" style=\"fill:#f89a31; stroke-width:0px;\"><\/polygon><\/g><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Intellectual Capital<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item elementor-inline-item\">\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"#NaturalCapital\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" id=\"b\" viewBox=\"0 0 9.39 9.39\"><g id=\"c\"><polygon points=\"9.39 4.69 0 0 0 9.39 9.39 4.69\" style=\"fill:#f89a31; stroke-width:0px;\"><\/polygon><\/g><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Natural Capital<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item elementor-inline-item\">\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"#SocialCapital\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" id=\"b\" viewBox=\"0 0 9.39 9.39\"><g id=\"c\"><polygon points=\"9.39 4.69 0 0 0 9.39 9.39 4.69\" style=\"fill:#f89a31; stroke-width:0px;\"><\/polygon><\/g><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Social Capital<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item elementor-inline-item\">\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"#HumanCapital\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" id=\"b\" viewBox=\"0 0 9.39 9.39\"><g id=\"c\"><polygon points=\"9.39 4.69 0 0 0 9.39 9.39 4.69\" style=\"fill:#f89a31; stroke-width:0px;\"><\/polygon><\/g><\/svg>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Human Capital<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-f97347c e-flex e-con-boxed e-con e-parent\" data-id=\"f97347c\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-5b85813 e-con-full e-flex e-con e-child\" data-id=\"5b85813\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-c8b1872 elementor-widget elementor-widget-menu-anchor\" data-id=\"c8b1872\" data-element_type=\"widget\" data-widget_type=\"menu-anchor.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-menu-anchor\" id=\"FinancialCapital\"><\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b402207 elementor-widget elementor-widget-heading\" data-id=\"b402207\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\"><b>Performance Report<\/b><\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-b3bbd90 e-con-full e-flex e-con e-child\" data-id=\"b3bbd90\" data-element_type=\"container\">\n\t\t<div class=\"elementor-element elementor-element-193f0b4 e-con-full e-flex e-con e-child\" data-id=\"193f0b4\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-9901d2b elementor-widget elementor-widget-heading\" data-id=\"9901d2b\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Financial<br>\nCapital<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-f73b7d0 e-con-full e-flex e-con e-child\" data-id=\"f73b7d0\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-2108702 elementor-widget elementor-widget-heading\" data-id=\"2108702\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Key <b>Inputs<\/b><\/h2>\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-52f7d70 e-con-full e-flex e-con e-child\" data-id=\"52f7d70\" data-element_type=\"container\">\n\t\t<div class=\"elementor-element elementor-element-a42543a e-con-full e-flex e-con e-child\" data-id=\"a42543a\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-df18125 elementor-widget elementor-widget-counter\" data-id=\"df18125\" data-element_type=\"widget\" data-widget_type=\"counter.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-counter\">\n\t\t\t\t\t\t<div class=\"elementor-counter-number-wrapper\">\n\t\t\t\t<span class=\"elementor-counter-number-prefix\">Rs <\/span>\n\t\t\t\t<span class=\"elementor-counter-number\" data-duration=\"2000\" data-to-value=\"5.2\" data-from-value=\"0\" data-delimiter=\",\">0<\/span>\n\t\t\t\t<span class=\"elementor-counter-number-suffix\">M<\/span>\n\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b5239b9 elementor-widget__width-initial elementor-widget elementor-widget-heading\" data-id=\"b5239b9\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">spent in professional fees on development projects: Winners, Splendour and the morcellement at Case Noyale<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-75ebba3 elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"75ebba3\" data-element_type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5254312 elementor-widget elementor-widget-counter\" data-id=\"5254312\" data-element_type=\"widget\" data-widget_type=\"counter.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-counter\">\n\t\t\t\t\t\t<div class=\"elementor-counter-number-wrapper\">\n\t\t\t\t<span class=\"elementor-counter-number-prefix\">Rs <\/span>\n\t\t\t\t<span class=\"elementor-counter-number\" data-duration=\"2000\" data-to-value=\"9.3\" data-from-value=\"0\" data-delimiter=\",\">0<\/span>\n\t\t\t\t<span class=\"elementor-counter-number-suffix\">M<\/span>\n\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7a8d1cb elementor-widget__width-initial elementor-widget elementor-widget-heading\" data-id=\"7a8d1cb\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">continued investment in C Rodrigues Mourouk hotel<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f3a895b elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"f3a895b\" data-element_type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4a48df8 elementor-widget elementor-widget-counter\" data-id=\"4a48df8\" data-element_type=\"widget\" data-widget_type=\"counter.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-counter\">\n\t\t\t\t\t\t<div class=\"elementor-counter-number-wrapper\">\n\t\t\t\t<span class=\"elementor-counter-number-prefix\">Rs <\/span>\n\t\t\t\t<span class=\"elementor-counter-number\" data-duration=\"2000\" data-to-value=\"7.7\" data-from-value=\"0\" data-delimiter=\",\">0<\/span>\n\t\t\t\t<span class=\"elementor-counter-number-suffix\">M<\/span>\n\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-433107f elementor-widget__width-initial elementor-widget elementor-widget-heading\" data-id=\"433107f\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">spent on revamping La Galerie du G\u00e9nie and public areas at Edith<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-736288f e-con-full e-flex e-con e-child\" data-id=\"736288f\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-33920e0 elementor-widget__width-initial elementor-widget elementor-widget-counter\" data-id=\"33920e0\" data-element_type=\"widget\" data-widget_type=\"counter.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-counter\">\n\t\t\t\t\t\t<div class=\"elementor-counter-number-wrapper\">\n\t\t\t\t<span class=\"elementor-counter-number-prefix\">Rs  <\/span>\n\t\t\t\t<span class=\"elementor-counter-number\" data-duration=\"2000\" data-to-value=\"18.4\" data-from-value=\"0\" data-delimiter=\",\">0<\/span>\n\t\t\t\t<span class=\"elementor-counter-number-suffix\">M<\/span>\n\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-8f76cb9 elementor-widget__width-initial elementor-widget-mobile__width-initial elementor-widget elementor-widget-heading\" data-id=\"8f76cb9\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">invested in targeted Capex investments in building upgrades<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d7e944d elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"d7e944d\" data-element_type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e870b56 elementor-widget elementor-widget-counter\" data-id=\"e870b56\" data-element_type=\"widget\" data-widget_type=\"counter.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-counter\">\n\t\t\t\t\t\t<div class=\"elementor-counter-number-wrapper\">\n\t\t\t\t<span class=\"elementor-counter-number-prefix\">Rs <\/span>\n\t\t\t\t<span class=\"elementor-counter-number\" data-duration=\"2000\" data-to-value=\"11.1\" data-from-value=\"0\" data-delimiter=\",\">0<\/span>\n\t\t\t\t<span class=\"elementor-counter-number-suffix\">M<\/span>\n\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ca33e1e elementor-widget__width-initial elementor-widget elementor-widget-heading\" data-id=\"ca33e1e\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">spent on major repairs\nto preserve asset value<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-38e8c63 elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"38e8c63\" data-element_type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-939bd10 e-flex e-con-boxed e-con e-parent\" data-id=\"939bd10\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-827a02f e-con-full e-flex e-con e-child\" data-id=\"827a02f\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-59a0117 elementor-widget elementor-widget-heading\" data-id=\"59a0117\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">OUTPUTS: PERFORMANCE AGAINST STRATEGIC OBJECTIVES<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-4648902 e-con-full e-flex e-con e-child\" data-id=\"4648902\" data-element_type=\"container\">\n\t\t<div class=\"elementor-element elementor-element-5022ed7 e-con-full e-flex e-con e-child\" data-id=\"5022ed7\" data-element_type=\"container\">\n\t\t<div class=\"elementor-element elementor-element-3379f57 e-con-full e-flex e-con e-child\" data-id=\"3379f57\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-ff78e2d elementor-widget__width-initial elementor-widget elementor-widget-image\" data-id=\"ff78e2d\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"40\" height=\"56\" src=\"https:\/\/lavastone.mu\/annual-report-2025\/wp-content\/uploads\/2025\/12\/p35-1.svg\" class=\"attachment-full size-full wp-image-388\" alt=\"\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-fcd0886 elementor-widget__width-initial elementor-widget-mobile__width-initial elementor-widget elementor-widget-text-editor\" data-id=\"fcd0886\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>We delivered a solid financial performance, driven by disciplined cost management, steady rental income, and prudent capital allocation, resulting in improved profitability and a stronger balance sheet.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a9b70bb elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"a9b70bb\" data-element_type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-b3e4a90 e-flex e-con-boxed e-con e-child\" data-id=\"b3e4a90\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-95b1af4 elementor-widget__width-initial elementor-widget-mobile__width-initial elementor-widget elementor-widget-image\" data-id=\"95b1af4\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"28\" height=\"29\" src=\"https:\/\/lavastone.mu\/annual-report-2025\/wp-content\/uploads\/2025\/12\/p35-2.svg\" class=\"attachment-full size-full wp-image-389\" alt=\"\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-af731e9 e-con-full e-flex e-con e-child\" data-id=\"af731e9\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-1e86bd1 elementor-widget elementor-widget-heading\" data-id=\"1e86bd1\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Maximise shareholder value<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b62521d elementor-widget__width-initial elementor-widget-mobile__width-initial elementor-widget elementor-widget-text-editor\" data-id=\"b62521d\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<ul class=\"financial-highlights\">\n \t<li>Market Capitalisation: <span class=\"yel\">Rs 905M<\/span>(<span class=\"arrd\">\u2193<\/span> 2024: 1089M)<\/li>\n \t<li>Revenue: <span class=\"yel\">Rs 418M<\/span>excluding sale of land(<span class=\"arr\">\u2191<\/span> 2024: Rs 396M)<\/li>\n \t<li>Operating profit excluding sale of Land: <span class=\"yel\">Rs263M<\/span>(<span class=\"arr\">\u2191<\/span>2024: MUR 248M)<\/li>\n \t<li>Profit before tax:<span class=\"yel\">Rs190M<\/span>,excluding revaluation gains(<span class=\"arr\">\u2191<\/span> 2024: Rs 161M)<\/li>\n \t<li>NAV per share: <span class=\"yel\">Rs 4.70<\/span>(<span class=\"arr\">\u2191<\/span> 2024: Rs 4.39)<\/li>\n \t<li>Gearing: 30.2%(<span class=\"arrd\">\u2193<\/span> 2024: 35%)<\/li>\n \t<li>Dividends paid per share: <span class=\"yel\">Rs 0.08<\/span>(\u2190\u2192 2024: Rs 0.08)<\/li>\n \t<li>Profit per share: <span class=\"yel\">Rs 0.36<\/span>(<span class=\"arr\">\u2191<\/span> 2024: Rs 0.25)<\/li>\n<\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-56b8319 elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"56b8319\" data-element_type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-7114474 e-con-full e-flex e-con e-child\" data-id=\"7114474\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-e055aff elementor-widget__width-initial elementor-widget-mobile__width-initial elementor-widget elementor-widget-image\" data-id=\"e055aff\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"24\" height=\"34\" src=\"https:\/\/lavastone.mu\/annual-report-2025\/wp-content\/uploads\/2026\/01\/p35-3.svg\" class=\"attachment-full size-full wp-image-958\" alt=\"\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-1d8499d e-con-full e-flex e-con e-child\" data-id=\"1d8499d\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-16be515 elementor-widget elementor-widget-heading\" data-id=\"16be515\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Operational excellence<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-8c90d9e elementor-widget elementor-widget-text-editor\" data-id=\"8c90d9e\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<ul>\n \t<li>Rental collection remained high and maintained above<span class=\"yel\"> 99%<\/span> <\/li>\n \t<li>\u00a0Administrative and operating costs reduced to <span class=\"yel\">36% <\/span>of revenue<\/li>\n \t<li>\u00a0Revenue grew organically by<span class=\"yel\"> 5.4% <\/span>  and Operating Profit by<span class=\"yel\"> 6.1%<\/span> , driven by effective cost management and tenant stability<\/li>\n \t<li>The Group exercised strategic prudence by stepping back from an earmarked acquisition after the required development permits could not be secured<\/li>\n<\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-6fd176d e-con-full e-flex e-con e-child\" data-id=\"6fd176d\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-d374818 elementor-widget elementor-widget-heading\" data-id=\"d374818\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">2026 Priorities<\/h2>\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-8dd8181 e-con-full e-flex e-con e-child\" data-id=\"8dd8181\" data-element_type=\"container\">\n\t\t<div class=\"elementor-element elementor-element-62f0d55 e-con-full e-flex e-con e-child\" data-id=\"62f0d55\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-c399801 elementor-widget elementor-widget-text-editor\" data-id=\"c399801\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<ul><li>Maintain Grade A rating from CARE Ratings Africa<\/li><li>Maintain rental collection above 98%<\/li><li>Achieve revenue growth of 5%<\/li><li>Monitor and control administrative and operating costs to remain below 35% of revenue<\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-6f52752 e-con-full e-flex e-con e-child\" data-id=\"6f52752\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-7159c08 elementor-widget elementor-widget-text-editor\" data-id=\"7159c08\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<ul><li>Improve EBITDA by 5%<\/li><li>\u00a0Conclude the acquisition of one industrial space and the redevelopment of one industrial site<\/li><li>\u00a0Accumulate sufficient capital to fund earmarked development projects planned for FY26<\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-b464b72 e-flex e-con-boxed e-con e-parent\" data-id=\"b464b72\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-c5c5552 e-con-full e-flex e-con e-child\" data-id=\"c5c5552\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-92a0e43 elementor-widget elementor-widget-menu-anchor\" data-id=\"92a0e43\" data-element_type=\"widget\" data-widget_type=\"menu-anchor.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-menu-anchor\" id=\"ManufacturedCapital\"><\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-ae77364 e-con-full e-flex e-con e-child\" data-id=\"ae77364\" data-element_type=\"container\">\n\t\t<div class=\"elementor-element elementor-element-f7981e2 e-con-full e-flex e-con e-child\" data-id=\"f7981e2\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-40a3923 elementor-widget elementor-widget-heading\" data-id=\"40a3923\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Manufactured<br>\nCapital<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-0706bf6 e-con-full e-flex e-con e-child\" data-id=\"0706bf6\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-f653476 elementor-widget elementor-widget-heading\" data-id=\"f653476\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Key <b>Inputs<\/b><\/h2>\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-d9d72c5 e-con-full e-flex e-con e-child\" data-id=\"d9d72c5\" data-element_type=\"container\">\n\t\t<div class=\"elementor-element elementor-element-ce4e4dc e-con-full e-flex e-con e-child\" data-id=\"ce4e4dc\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-abf0e57 elementor-widget elementor-widget-counter\" data-id=\"abf0e57\" data-element_type=\"widget\" data-widget_type=\"counter.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-counter\">\n\t\t\t\t\t\t<div class=\"elementor-counter-number-wrapper\">\n\t\t\t\t<span class=\"elementor-counter-number-prefix\"><\/span>\n\t\t\t\t<span class=\"elementor-counter-number\" data-duration=\"2000\" data-to-value=\"22230\" data-from-value=\"0\" data-delimiter=\",\">0<\/span>\n\t\t\t\t<span class=\"elementor-counter-number-suffix\">m\u00b2<\/span>\n\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c3adab4 elementor-widget__width-initial elementor-widget elementor-widget-heading\" data-id=\"c3adab4\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">office space<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9674bbf elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"9674bbf\" data-element_type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9208c38 elementor-widget elementor-widget-counter\" data-id=\"9208c38\" data-element_type=\"widget\" data-widget_type=\"counter.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-counter\">\n\t\t\t\t\t\t<div class=\"elementor-counter-number-wrapper\">\n\t\t\t\t<span class=\"elementor-counter-number-prefix\"><\/span>\n\t\t\t\t<span class=\"elementor-counter-number\" data-duration=\"2000\" data-to-value=\"15069\" data-from-value=\"0\" data-delimiter=\",\">0<\/span>\n\t\t\t\t<span class=\"elementor-counter-number-suffix\">m\u00b2<\/span>\n\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-31dc006 elementor-widget__width-initial elementor-widget elementor-widget-heading\" data-id=\"31dc006\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">industrial space<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-50d5f8b elementor-widget elementor-widget-spacer\" data-id=\"50d5f8b\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-05c2114 elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"05c2114\" data-element_type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-31333a0 elementor-widget elementor-widget-counter\" data-id=\"31333a0\" data-element_type=\"widget\" data-widget_type=\"counter.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-counter\">\n\t\t\t\t\t\t<div class=\"elementor-counter-number-wrapper\">\n\t\t\t\t<span class=\"elementor-counter-number-prefix\"><\/span>\n\t\t\t\t<span class=\"elementor-counter-number\" data-duration=\"2000\" data-to-value=\"4798\" data-from-value=\"0\" data-delimiter=\",\">0<\/span>\n\t\t\t\t<span class=\"elementor-counter-number-suffix\">m\u00b2<\/span>\n\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6fba28b elementor-widget__width-initial elementor-widget elementor-widget-heading\" data-id=\"6fba28b\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">retail space<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-0000e8b e-con-full e-flex e-con e-child\" data-id=\"0000e8b\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-bd9093a elementor-widget__width-initial elementor-widget elementor-widget-counter\" data-id=\"bd9093a\" data-element_type=\"widget\" data-widget_type=\"counter.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-counter\">\n\t\t\t\t\t\t<div class=\"elementor-counter-number-wrapper\">\n\t\t\t\t<span class=\"elementor-counter-number-prefix\"><\/span>\n\t\t\t\t<span class=\"elementor-counter-number\" data-duration=\"2000\" data-to-value=\"11544\" data-from-value=\"0\" data-delimiter=\",\">0<\/span>\n\t\t\t\t<span class=\"elementor-counter-number-suffix\">m\u00b2<\/span>\n\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-28f8392 elementor-widget__width-initial elementor-widget elementor-widget-heading\" data-id=\"28f8392\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">hotel space<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-55d9d38 elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"55d9d38\" data-element_type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2543cab elementor-widget elementor-widget-counter\" data-id=\"2543cab\" data-element_type=\"widget\" data-widget_type=\"counter.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-counter\">\n\t\t\t\t\t\t<div class=\"elementor-counter-number-wrapper\">\n\t\t\t\t<span class=\"elementor-counter-number-prefix\">Rs <\/span>\n\t\t\t\t<span class=\"elementor-counter-number\" data-duration=\"2000\" data-to-value=\"18.4\" data-from-value=\"0\" data-delimiter=\",\">0<\/span>\n\t\t\t\t<span class=\"elementor-counter-number-suffix\">M<\/span>\n\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f040e62 elementor-widget__width-initial elementor-widget elementor-widget-heading\" data-id=\"f040e62\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">invested in capital expenditure\nacross 17 properties<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2b26528 elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"2b26528\" data-element_type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a8bbe7c elementor-widget elementor-widget-counter\" data-id=\"a8bbe7c\" data-element_type=\"widget\" data-widget_type=\"counter.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-counter\">\n\t\t\t\t\t\t<div class=\"elementor-counter-number-wrapper\">\n\t\t\t\t<span class=\"elementor-counter-number-prefix\">Rs <\/span>\n\t\t\t\t<span class=\"elementor-counter-number\" data-duration=\"2000\" data-to-value=\"11.1\" data-from-value=\"0\" data-delimiter=\",\">0<\/span>\n\t\t\t\t<span class=\"elementor-counter-number-suffix\">M<\/span>\n\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4a06687 elementor-widget__width-initial elementor-widget elementor-widget-heading\" data-id=\"4a06687\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">spent on repairs and\nmaintenance across\n17 properties<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-080034f e-flex e-con-boxed e-con e-parent\" data-id=\"080034f\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-c9d547c e-con-full e-flex e-con e-child\" data-id=\"c9d547c\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-9c0f12b elementor-widget elementor-widget-heading\" data-id=\"9c0f12b\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">OUTPUTS: PERFORMANCE AGAINST STRATEGIC OBJECTIVES<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-cd342d3 e-con-full e-flex e-con e-child\" data-id=\"cd342d3\" data-element_type=\"container\">\n\t\t<div class=\"elementor-element elementor-element-6971887 e-con-full e-flex e-con e-child\" data-id=\"6971887\" data-element_type=\"container\">\n\t\t<div class=\"elementor-element elementor-element-f0757a7 e-con-full e-flex e-con e-child\" data-id=\"f0757a7\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-5332535 elementor-widget__width-initial elementor-widget elementor-widget-image\" data-id=\"5332535\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"51\" height=\"51\" src=\"https:\/\/lavastone.mu\/annual-report-2025\/wp-content\/uploads\/2026\/01\/p37-1.svg\" class=\"attachment-full size-full wp-image-982\" alt=\"\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a4760b0 elementor-widget__width-initial elementor-widget-tablet__width-initial elementor-widget elementor-widget-text-editor\" data-id=\"a4760b0\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>We continued to strengthen the quality and performance of our property portfolio through targeted asset upgrades, new project launches, and sustainability-focused initiatives. These efforts contributed to maintaining high occupancy levels and enhancing long-term asset value.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a1dcfc9 elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"a1dcfc9\" data-element_type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-dd5ba3b e-con-full e-flex e-con e-child\" data-id=\"dd5ba3b\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-0665dad elementor-widget__width-initial elementor-widget-mobile__width-initial elementor-widget elementor-widget-image\" data-id=\"0665dad\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"28\" height=\"29\" src=\"https:\/\/lavastone.mu\/annual-report-2025\/wp-content\/uploads\/2026\/01\/p37-2.svg\" class=\"attachment-full size-full wp-image-986\" alt=\"\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-abb8082 e-con-full e-flex e-con e-child\" data-id=\"abb8082\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-399235e elementor-widget elementor-widget-heading\" data-id=\"399235e\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Maximise shareholder value<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7659ebc elementor-widget elementor-widget-text-editor\" data-id=\"7659ebc\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<ul><li>Property Assets:<span class=\"yel\"> Rs 4.6Bn<\/span> ( <span class=\"arr\">\u2191<\/span>2024:Rs 4.5Bn)<\/li><li>\u00a0Total Assets:<span class=\"yel\"> Rs 5.2Bn<\/span> (<span class=\"arr\">\u2191<\/span> 2024:Rs 5.1Bn)<\/li><li>Occupancy rate:<span class=\"yel\"> 98% <\/span> ( <span class=\"arr\">\u2191<\/span>2024: 97%)<\/li><li>Arpents of land available for development:<span class=\"yel\"> 1,374A<\/span><\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-0c3d368 elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"0c3d368\" data-element_type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-c6ba497 e-con-full e-flex e-con e-child\" data-id=\"c6ba497\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-34b7855 elementor-widget__width-initial elementor-widget-mobile__width-initial elementor-widget elementor-widget-image\" data-id=\"34b7855\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"24\" height=\"34\" src=\"https:\/\/lavastone.mu\/annual-report-2025\/wp-content\/uploads\/2026\/01\/p37-3.svg\" class=\"attachment-full size-full wp-image-995\" alt=\"\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-6a09de2 e-con-full e-flex e-con e-child\" data-id=\"6a09de2\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-b1058ec elementor-widget elementor-widget-heading\" data-id=\"b1058ec\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Operational excellence<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-de15cc0 elementor-widget elementor-widget-text-editor\" data-id=\"de15cc0\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<ul><li>Signed an MOU with Winners as the anchor tenant for the commercial project at La Gaulette, strengthening future revenue visibility\u00a0<\/li><li>Launched the Montebello project, with construction scheduled to begin in the first quarter of FY26\u00a0<\/li><li>Initiated the LEED certification process for Cim House and Les Cascades Building, reinforcing Lavastone Properties commitment to green standards\u00a0<\/li><li>Progressed on upgrade works at Les Cascades Building to meet LEED certification standards<\/li><li>Completed the revamping of La Galerie du G\u00e9nie and public areas of La Cour du G\u00e9nie at Edith, enhancing its design, functionality, and customer appeal<\/li><li>\u00a0Concluded on the sale of Plaine Lauzun to close in early FY26 following delays in obtaining clearances from local authorities<\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-496f0e4 e-con-full e-flex e-con e-child\" data-id=\"496f0e4\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-83b3582 elementor-widget elementor-widget-heading\" data-id=\"83b3582\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">2026 Priorities<\/h2>\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-d789f83 e-con-full e-flex e-con e-child\" data-id=\"d789f83\" data-element_type=\"container\">\n\t\t<div class=\"elementor-element elementor-element-d10c610 e-con-full e-flex e-con e-child\" data-id=\"d10c610\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-ec68a7d elementor-widget elementor-widget-text-editor\" data-id=\"ec68a7d\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<ul><li>Launch construction of the Morcellement in Case Noyale the La Gaulette commercial developments<\/li><li>Begin construction works on the Montebello industrial project<\/li><li>Finalise the sale of the remaining land at Trianon<\/li><li>Acquire and redevelop an existing industrial facility in Coromandel<\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-e25c0fb e-con-full e-flex e-con e-child\" data-id=\"e25c0fb\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-4199569 elementor-widget elementor-widget-text-editor\" data-id=\"4199569\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<ul><li>Upgrade and modernise Les Cascades Building to improve the tenant experience<\/li><li>Achieve LEED certification for Les Cascades Building<\/li><li>Complete and hand over the Winners commercial development by the end of 2026<\/li><li>Conclude the sale of the Plaine Lauzun Industrial Park<\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-3a182b6 e-flex e-con-boxed e-con e-parent\" data-id=\"3a182b6\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-4161d24 e-con-full e-flex e-con e-child\" data-id=\"4161d24\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-0fa5f5d elementor-widget elementor-widget-menu-anchor\" data-id=\"0fa5f5d\" data-element_type=\"widget\" data-widget_type=\"menu-anchor.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-menu-anchor\" id=\"IntellectualCapital\"><\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-1242dc2 e-con-full e-flex e-con e-child\" data-id=\"1242dc2\" data-element_type=\"container\">\n\t\t<div class=\"elementor-element elementor-element-facba55 e-con-full e-flex e-con e-child\" data-id=\"facba55\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-d8e1246 elementor-widget elementor-widget-heading\" data-id=\"d8e1246\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Intellectual<br>\nCapital<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-9fd64f7 e-con-full e-flex e-con e-child\" data-id=\"9fd64f7\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-0e995e9 elementor-widget elementor-widget-heading\" data-id=\"0e995e9\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Key <b>Inputs<\/b><\/h2>\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-e5a328e e-con-full e-flex e-con e-child\" data-id=\"e5a328e\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-3141d99 elementor-widget elementor-widget-heading\" data-id=\"3141d99\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Redesigned<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6bba9ec elementor-widget elementor-widget-text-editor\" data-id=\"6bba9ec\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>key operational processes and<br \/>implemented new systems to<br \/>enhance efficiency<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-c6278ee e-flex e-con-boxed e-con e-parent\" data-id=\"c6278ee\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-7ae51be e-con-full e-flex e-con e-child\" data-id=\"7ae51be\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-ea70b8a elementor-widget elementor-widget-heading\" data-id=\"ea70b8a\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">OUTPUTS: PERFORMANCE AGAINST STRATEGIC OBJECTIVES<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-ad7e147 e-con-full e-flex e-con e-child\" data-id=\"ad7e147\" data-element_type=\"container\">\n\t\t<div class=\"elementor-element elementor-element-a78d5fc e-con-full e-flex e-con e-child\" data-id=\"a78d5fc\" data-element_type=\"container\">\n\t\t<div class=\"elementor-element elementor-element-05b1e85 e-con-full e-flex e-con e-child\" data-id=\"05b1e85\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-495c017 elementor-widget__width-initial elementor-widget elementor-widget-image\" data-id=\"495c017\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"46\" height=\"46\" src=\"https:\/\/lavastone.mu\/annual-report-2025\/wp-content\/uploads\/2026\/01\/p39-1.svg\" class=\"attachment-full size-full wp-image-1001\" alt=\"\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-39dbff6 elementor-widget__width-initial elementor-widget-tablet__width-initial elementor-widget elementor-widget-text-editor\" data-id=\"39dbff6\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>We continued to strengthen our organisational knowledge, technical expertise, digital capabilities, and project management frameworks to improve efficiency and deliver high service levels. Key initiatives included digitalising key processes and advancing LEED certification efforts across our buildings.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-107f160 elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"107f160\" data-element_type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-d0ff37f e-con-full e-flex e-con e-child\" data-id=\"d0ff37f\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-f3d278f elementor-widget__width-initial elementor-widget-mobile__width-initial elementor-widget elementor-widget-image\" data-id=\"f3d278f\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"28\" height=\"29\" src=\"https:\/\/lavastone.mu\/annual-report-2025\/wp-content\/uploads\/2026\/01\/p39-2.svg\" class=\"attachment-full size-full wp-image-1002\" alt=\"\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-4d3d993 e-con-full e-flex e-con e-child\" data-id=\"4d3d993\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-58769e2 elementor-widget elementor-widget-heading\" data-id=\"58769e2\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Maximise shareholder value<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e29011e elementor-widget elementor-widget-text-editor\" data-id=\"e29011e\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<ul>\n \t<li>WALE: <span class=\"yel\">6.15 years<\/span> , ensuring stable and predictable revenue streams<\/li>\n \t<li>Reaffirmed Grade A ratings by CARE Ratings Africa for both MCB bond and ABSA loan facilities<\/li>\n \t<li>\u00a0Successfully bid for an existing industrial building in Coromandel and four acres of prime industrial land at Terre Rouge, expanding the Group\u2019s footprint and future development pipeline<\/li>\n \t<li>Secured 11 new tenants, enhancing portfolio diversification<\/li>\n<\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1692935 elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"1692935\" data-element_type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-25345ba e-con-full e-flex e-con e-child\" data-id=\"25345ba\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-fa036aa elementor-widget__width-initial elementor-widget-mobile__width-initial elementor-widget elementor-widget-image\" data-id=\"fa036aa\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"24\" height=\"34\" src=\"https:\/\/lavastone.mu\/annual-report-2025\/wp-content\/uploads\/2026\/01\/p39-3.svg\" class=\"attachment-full size-full wp-image-1017\" alt=\"\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-58bbccc e-con-full e-flex e-con e-child\" data-id=\"58bbccc\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-8d2ec81 elementor-widget elementor-widget-heading\" data-id=\"8d2ec81\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Operational excellence and Customer service &amp; retention<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-fab0fc5 elementor-widget elementor-widget-text-editor\" data-id=\"fab0fc5\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<ul>\n \t<li>Client retention rate: <span class=\"yel\">86%<\/span> ( <span class=\"arrd\">\u2193<\/span> 2024: 90%)<\/li>\n \t<li>\u00a0Contract renewals:<span class=\"yel\"> 22 <\/span> (<span class=\"arrd\">\u2193<\/span> 2024: 41)<\/li>\n \t<li>Improved vacancy rate at <span class=\"yel\">2%<\/span> ( <span class=\"arrd\">\u2193<\/span>2024: 4%), reflecting strong tenant engagement<\/li>\n \t<li>Implemented a new parking management system at ASAS parking<\/li>\n \t<li>Rolled out the new KYC platform, CASS, to strengthen compliance and streamline\ncustomer onboarding<\/li>\n \t<li>Completed LEED gap analyses for Absa House (HVAC system) and Les Cascades\nBuilding (fresh air system)<\/li>\n \t<li>Provided support to Cim Finance in achieving LEED certification for Cim House<\/li>\n \t<li>Implemented a new Performance Management System (PMS) to strengthen\nemployee alignment and performance culture<\/li>\n \t<li>Initiated a strategic roadmap through FY30 to guide future growth<\/li>\n<\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-2cadb0b e-con-full e-flex e-con e-child\" data-id=\"2cadb0b\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-2be447f elementor-widget elementor-widget-heading\" data-id=\"2be447f\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">2026 Priorities<\/h2>\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-f0ec1be e-con-full e-flex e-con e-child\" data-id=\"f0ec1be\" data-element_type=\"container\">\n\t\t<div class=\"elementor-element elementor-element-adb596e e-con-full e-flex e-con e-child\" data-id=\"adb596e\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-6650b87 elementor-widget elementor-widget-text-editor\" data-id=\"6650b87\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<ul><li>Invest in new property and facilities management software to enhance operational efficiency<\/li><li>Implement the new Performance Management System (PMS) to strengthen employee accountability and development<\/li><li>Maintain LEED certification across applicable properties<\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-a68a3cd e-con-full e-flex e-con e-child\" data-id=\"a68a3cd\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-5671752 elementor-widget elementor-widget-text-editor\" data-id=\"5671752\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<ul><li>Complete ongoing development projects on schedule<\/li><li>Negotiate financing for development projects spanning FY25\u2013FY30 to secure long-term growth capital<\/li><li>Deploy automated parking management systems across the portfolio<\/li><li>Maintain client retention at above 95%<\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-af98a82 e-flex e-con-boxed e-con e-parent\" data-id=\"af98a82\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-2ec3916 e-con-full e-flex e-con e-child\" data-id=\"2ec3916\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-aded8a9 elementor-widget elementor-widget-menu-anchor\" data-id=\"aded8a9\" data-element_type=\"widget\" data-widget_type=\"menu-anchor.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-menu-anchor\" id=\"NaturalCapital\"><\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-cd6c1e1 e-con-full e-flex e-con e-child\" data-id=\"cd6c1e1\" data-element_type=\"container\">\n\t\t<div class=\"elementor-element elementor-element-af235f1 e-con-full e-flex e-con e-child\" data-id=\"af235f1\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-b3d027a elementor-widget elementor-widget-heading\" data-id=\"b3d027a\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Natural<br>\nCapital<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-360b445 e-con-full e-flex e-con e-child\" data-id=\"360b445\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-194ba93 elementor-widget elementor-widget-heading\" data-id=\"194ba93\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Key <b>Inputs<\/b><\/h2>\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-b535bcc e-con-full e-flex e-con e-child\" data-id=\"b535bcc\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-cb71dd2 elementor-widget elementor-widget-heading\" data-id=\"cb71dd2\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">1,374<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6a4e7bb elementor-widget__width-initial elementor-widget elementor-widget-heading\" data-id=\"6a4e7bb\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">arpents of bare land, providing long-term development potential<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d6e8697 elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"d6e8697\" data-element_type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e1bcd53 elementor-widget elementor-widget-heading\" data-id=\"e1bcd53\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">50 arpents<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3985057 elementor-widget__width-initial elementor-widget elementor-widget-heading\" data-id=\"3985057\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Approximately at Case Noyale identified for near-term development opportunities<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e1248b1 elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"e1248b1\" data-element_type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-194ce9e elementor-widget elementor-widget-heading\" data-id=\"194ce9e\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Asset\ndevelopment<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-bcbf306 elementor-widget__width-initial elementor-widget elementor-widget-heading\" data-id=\"bcbf306\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">guided by LEED principles<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-cb193a4 e-flex e-con-boxed e-con e-parent\" data-id=\"cb193a4\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-0689944 e-con-full e-flex e-con e-child\" data-id=\"0689944\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-2e0b1bc elementor-widget elementor-widget-heading\" data-id=\"2e0b1bc\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">OUTPUTS: PERFORMANCE AGAINST STRATEGIC OBJECTIVES<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-23ea2a1 e-con-full e-flex e-con e-child\" data-id=\"23ea2a1\" data-element_type=\"container\">\n\t\t<div class=\"elementor-element elementor-element-66141ad e-con-full e-flex e-con e-child\" data-id=\"66141ad\" data-element_type=\"container\">\n\t\t<div class=\"elementor-element elementor-element-3e88df8 e-con-full e-flex e-con e-child\" data-id=\"3e88df8\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-4c64b9e elementor-widget__width-initial elementor-widget elementor-widget-image\" data-id=\"4c64b9e\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"48\" height=\"51\" src=\"https:\/\/lavastone.mu\/annual-report-2025\/wp-content\/uploads\/2026\/01\/p41-1.svg\" class=\"attachment-full size-full wp-image-1026\" alt=\"\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f404651 elementor-widget__width-initial elementor-widget-tablet__width-initial elementor-widget elementor-widget-text-editor\" data-id=\"f404651\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>We strengthened our commitment to minimising our carbon footprint across all operations. During the year, we implemented targeted initiatives resource management, renewable energy initiatives, and expanded recycling practices.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f3f85a3 elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"f3f85a3\" data-element_type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-1fab443 e-con-full e-flex e-con e-child\" data-id=\"1fab443\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-73bdcf0 elementor-widget__width-initial elementor-widget-mobile__width-initial elementor-widget elementor-widget-image\" data-id=\"73bdcf0\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"27\" height=\"27\" src=\"https:\/\/lavastone.mu\/annual-report-2025\/wp-content\/uploads\/2026\/01\/p41-2.svg\" class=\"attachment-full size-full wp-image-1027\" alt=\"\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-b72b231 e-con-full e-flex e-con e-child\" data-id=\"b72b231\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-2d0e1f7 elementor-widget elementor-widget-heading\" data-id=\"2d0e1f7\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Sustainability<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d012229 elementor-widget elementor-widget-text-editor\" data-id=\"d012229\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<ul>\n \t<li>Reduction in water expenses by<span class=\"yel\"> 10%<\/span> (<span class=\"arrd\"> \u2193<\/span> 2024: 50%)<\/li>\n \t<li>Improved waste collection and recycling performance (Detailed in our ESG Report)<\/li>\n \t<li>Modest increase of 1% in electricity consumption across our portfolio (Detailed in our ESG Report)<\/li>\n \t<li>Recycled<span class=\"yel\"> 8,721 kg<\/span> of food waste through BIO Bins<\/li>\n \t<li>Submitted application to the CEB for two PV farms at Case Noyle, and letter of intent received for MSDG farm<\/li>\n \t<li>Improved recycling and composting of biodegradable waste across several properties<\/li>\n \t<li>Implemented smart meters on all floors at Absa House to enhance utility and energy management<\/li>\n<\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-efd1c82 elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"efd1c82\" data-element_type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-2bafbb5 e-con-full e-flex e-con e-child\" data-id=\"2bafbb5\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-97d969d elementor-widget elementor-widget-heading\" data-id=\"97d969d\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">2026 Priorities<\/h2>\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-88eca26 e-con-full e-flex e-con e-child\" data-id=\"88eca26\" data-element_type=\"container\">\n\t\t<div class=\"elementor-element elementor-element-e65f43f e-con-full e-flex e-con e-child\" data-id=\"e65f43f\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-dda7296 elementor-widget elementor-widget-text-editor\" data-id=\"dda7296\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<ul><li>Secure necessary permits and begin installation of the PV farm at Case Noyale.<\/li><li>Initiate LEED certification processes for additional key properties to strengthen sustainability across the portfolio.<\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-aa7874f e-flex e-con-boxed e-con e-parent\" data-id=\"aa7874f\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-ff3dc5d e-con-full e-flex e-con e-child\" data-id=\"ff3dc5d\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-32ba916 elementor-widget elementor-widget-menu-anchor\" data-id=\"32ba916\" data-element_type=\"widget\" data-widget_type=\"menu-anchor.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-menu-anchor\" id=\"SocialCapital\"><\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-fe76bea e-con-full e-flex e-con e-child\" data-id=\"fe76bea\" data-element_type=\"container\">\n\t\t<div class=\"elementor-element elementor-element-5bd1cfe e-con-full e-flex e-con e-child\" data-id=\"5bd1cfe\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-549eb3e elementor-widget elementor-widget-heading\" data-id=\"549eb3e\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Social<br>\nCapital<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-8ce2b10 e-con-full e-flex e-con e-child\" data-id=\"8ce2b10\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-dca09c0 elementor-widget elementor-widget-heading\" data-id=\"dca09c0\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Key <b>Inputs<\/b><\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-256de13 elementor-widget elementor-widget-counter\" data-id=\"256de13\" data-element_type=\"widget\" data-widget_type=\"counter.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-counter\">\n\t\t\t\t\t\t<div class=\"elementor-counter-number-wrapper\">\n\t\t\t\t<span class=\"elementor-counter-number-prefix\">Rs <\/span>\n\t\t\t\t<span class=\"elementor-counter-number\" data-duration=\"2000\" data-to-value=\"1.4\" data-from-value=\"0\" data-delimiter=\",\">0<\/span>\n\t\t\t\t<span class=\"elementor-counter-number-suffix\">M<\/span>\n\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a1e3a9d elementor-widget__width-initial elementor-widget elementor-widget-heading\" data-id=\"a1e3a9d\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">invested in CSR initiatives, through contributions to the Taylor Smith Foundation<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-300c998 e-flex e-con-boxed e-con e-parent\" data-id=\"300c998\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-0748d96 e-con-full e-flex e-con e-child\" data-id=\"0748d96\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-2370502 elementor-widget elementor-widget-heading\" data-id=\"2370502\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">OUTPUTS: PERFORMANCE AGAINST STRATEGIC OBJECTIVES<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-e3d9098 e-con-full e-flex e-con e-child\" data-id=\"e3d9098\" data-element_type=\"container\">\n\t\t<div class=\"elementor-element elementor-element-1cbab3b e-con-full e-flex e-con e-child\" data-id=\"1cbab3b\" data-element_type=\"container\">\n\t\t<div class=\"elementor-element elementor-element-a4350c9 e-con-full e-flex e-con e-child\" data-id=\"a4350c9\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-e5d41d6 elementor-widget__width-initial elementor-widget elementor-widget-image\" data-id=\"e5d41d6\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"50\" height=\"51\" src=\"https:\/\/lavastone.mu\/annual-report-2025\/wp-content\/uploads\/2026\/01\/p43-1.svg\" class=\"attachment-full size-full wp-image-1035\" alt=\"\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-eeaec10 elementor-widget__width-initial elementor-widget-tablet__width-initial elementor-widget elementor-widget-text-editor\" data-id=\"eeaec10\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>We maintained close relationships with our tenants, communities, and partners through targeted CSR initiatives, transparent communication, and meaningful engagement. These actions reinforced our role as a responsible corporate citizen and a trusted landlord.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-8117863 elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"8117863\" data-element_type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-cf3fbd4 e-con-full e-flex e-con e-child\" data-id=\"cf3fbd4\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-7a577ff elementor-widget__width-initial elementor-widget-mobile__width-initial elementor-widget elementor-widget-image\" data-id=\"7a577ff\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"20\" height=\"24\" src=\"https:\/\/lavastone.mu\/annual-report-2025\/wp-content\/uploads\/2026\/01\/p43-2.svg\" class=\"attachment-full size-full wp-image-1036\" alt=\"\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-d3e027f e-con-full e-flex e-con e-child\" data-id=\"d3e027f\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-4aaa38f elementor-widget elementor-widget-heading\" data-id=\"4aaa38f\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Customer service and retention<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b3a9705 elementor-widget elementor-widget-text-editor\" data-id=\"b3a9705\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<ul><li>Maintained regular communication through the monthly Marketing &amp; Communication Report distributed to EDITH tenants.<\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-8075eef elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"8075eef\" data-element_type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-c8fcd9f e-con-full e-flex e-con e-child\" data-id=\"c8fcd9f\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-7814d2b elementor-widget__width-initial elementor-widget-mobile__width-initial elementor-widget elementor-widget-image\" data-id=\"7814d2b\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"27\" height=\"27\" src=\"https:\/\/lavastone.mu\/annual-report-2025\/wp-content\/uploads\/2026\/01\/p43-3.svg\" class=\"attachment-full size-full wp-image-1037\" alt=\"\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-eaeea87 e-con-full e-flex e-con e-child\" data-id=\"eaeea87\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-0466ede elementor-widget elementor-widget-heading\" data-id=\"0466ede\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Sustainability<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4f137d4 elementor-widget elementor-widget-text-editor\" data-id=\"4f137d4\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<ul><li>Contributed<span class=\"yel\"> Rs 1.4M<\/span> (<span class=\"arr\"> \u2191 <\/span> 2024: 1.3M) to CSR Activities, supporting programmes in<br \/>education, youth development, women\u2019s empowerment, sports, and environmental<br \/>protection<\/li><li>Set up a Sustainability committee to strengthen ESG oversight<\/li><li><strong>Community outreach<\/strong>: Sponsored a women\u2019s football team in Rodrigues,<br \/>promoting inclusion and empowerment through sports<\/li><li><strong>Environmental initiatives<\/strong>:<br \/>&#8211; Supported the Mauritius Wildlife Foundation in biodiversity conservation projects<br \/>at \u00cele aux Aigrettes (Mauritius) and Anse Quitor (Rodrigues)<br \/>&#8211; Partnered with The Odysseo Foundation, dedicated to protecting and restoring<br \/>Mauritius\u2019 marine ecosystems<\/li><li><strong>Education initiatives<\/strong>:<br \/>&#8211; Sponsored a student through Fondation Cours Jeanne d\u2019Arc<br \/>&#8211; Supported the Anfen Cookery School in Port Louis, contributing to their project<br \/>\u201cProjet Sant\u00e9 Mentale des Jeunes\u201d, which creates vocational pathways for youth<\/li><li><strong> Health initiatives<\/strong>:<br \/>&#8211; Supported the Rotary Club of Phoenix, through our contribution to their<br \/>\u201cWheelchairs Project\u201d<\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-0eb6788 e-con-full e-flex e-con e-child\" data-id=\"0eb6788\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-7d686e7 elementor-widget elementor-widget-heading\" data-id=\"7d686e7\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">2026 Priorities<\/h2>\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-2986a4b e-con-full e-flex e-con e-child\" data-id=\"2986a4b\" data-element_type=\"container\">\n\t\t<div class=\"elementor-element elementor-element-2b8c58f e-con-full e-flex e-con e-child\" data-id=\"2b8c58f\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-6e2754d elementor-widget elementor-widget-text-editor\" data-id=\"6e2754d\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<ul><li>Advance sustainable development initiatives across economic, social, and environmental pillars<\/li><li>Keep education at the core of CSR programmes, fostering long-term community empowerment<\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-85d86f8 e-con-full e-flex e-con e-child\" data-id=\"85d86f8\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-e7bc0a1 elementor-widget elementor-widget-text-editor\" data-id=\"e7bc0a1\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<ul><li>Support NGOs and community groups in driving meaningful social impact<\/li><li>Roll out the next phase of the communication strategy at EDITH to strengthen tenant engagement<\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-48cea36 e-flex e-con-boxed e-con e-parent\" data-id=\"48cea36\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-f26b316 e-con-full e-flex e-con e-child\" data-id=\"f26b316\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-9f153b8 elementor-widget elementor-widget-menu-anchor\" data-id=\"9f153b8\" data-element_type=\"widget\" data-widget_type=\"menu-anchor.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-menu-anchor\" id=\"HumanCapital\"><\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-f9409c5 e-con-full e-flex e-con e-child\" data-id=\"f9409c5\" data-element_type=\"container\">\n\t\t<div class=\"elementor-element elementor-element-25b401f e-con-full e-flex e-con e-child\" data-id=\"25b401f\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-231a71f elementor-widget elementor-widget-heading\" data-id=\"231a71f\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Human<br>\nCapital<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-9f19f93 e-con-full e-flex e-con e-child\" data-id=\"9f19f93\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-2ecd1b2 elementor-widget elementor-widget-heading\" data-id=\"2ecd1b2\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Key <b>Inputs<\/b><\/h2>\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-4afb23f e-con-full e-flex e-con e-child\" data-id=\"4afb23f\" data-element_type=\"container\">\n\t\t<div class=\"elementor-element elementor-element-1e6e4cf e-con-full e-flex e-con e-child\" data-id=\"1e6e4cf\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-a934988 elementor-widget elementor-widget-heading\" data-id=\"a934988\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">49<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6de3422 elementor-widget__width-initial elementor-widget elementor-widget-heading\" data-id=\"6de3422\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">employees<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2b1cf34 elementor-hidden-mobile elementor-widget elementor-widget-spacer\" data-id=\"2b1cf34\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-56239d9 elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"56239d9\" data-element_type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e48fca5 elementor-widget elementor-widget-heading\" data-id=\"e48fca5\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Organisation<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-0f1d07f elementor-widget__width-initial elementor-widget elementor-widget-heading\" data-id=\"0f1d07f\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">of off-site team-building sessions organised, focusing on communication, coordination, and time management<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-048b395 e-con-full e-flex e-con e-child\" data-id=\"048b395\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-d6153c3 elementor-widget elementor-widget-counter\" data-id=\"d6153c3\" data-element_type=\"widget\" data-widget_type=\"counter.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-counter\">\n\t\t\t\t\t\t<div class=\"elementor-counter-number-wrapper\">\n\t\t\t\t<span class=\"elementor-counter-number-prefix\">Rs<\/span>\n\t\t\t\t<span class=\"elementor-counter-number\" data-duration=\"2000\" data-to-value=\"1.3\" data-from-value=\"0\" data-delimiter=\",\">0<\/span>\n\t\t\t\t<span class=\"elementor-counter-number-suffix\">M<\/span>\n\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2709f1b elementor-widget__width-initial elementor-widget elementor-widget-heading\" data-id=\"2709f1b\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">invested in staff training, reflecting commitment to employee development<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9abe7c8 elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"9abe7c8\" data-element_type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d37926e elementor-widget elementor-widget-heading\" data-id=\"d37926e\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">40% women &amp; 60% men<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-683704a elementor-widget__width-initial elementor-widget elementor-widget-heading\" data-id=\"683704a\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">invested in capital expenditure\nacross 17 properties<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-8457296 e-flex e-con-boxed e-con e-parent\" data-id=\"8457296\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-13d609b e-con-full e-flex e-con e-child\" data-id=\"13d609b\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-979f640 elementor-widget elementor-widget-heading\" data-id=\"979f640\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">OUTPUTS: PERFORMANCE AGAINST STRATEGIC OBJECTIVES<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-d93240b e-con-full e-flex e-con e-child\" data-id=\"d93240b\" data-element_type=\"container\">\n\t\t<div class=\"elementor-element elementor-element-e545dd5 e-con-full e-flex e-con e-child\" data-id=\"e545dd5\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-d32aa07 elementor-widget__width-initial elementor-widget-mobile__width-initial elementor-view-default elementor-widget elementor-widget-icon\" data-id=\"d32aa07\" data-element_type=\"widget\" data-widget_type=\"icon.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-icon-wrapper\">\n\t\t\t<div class=\"elementor-icon\">\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" id=\"Layer_2\" viewBox=\"0 0 37.35 38.07\"><defs><style>.cls-1{fill:#a26b39;stroke-width:0px;}<\/style><\/defs><g id=\"Layer_1-2\"><path class=\"cls-1\" 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d=\"M2.57,35.37c-1.42,0-2.57-1.11-2.57-2.48v-15.53c0-2.44,2.05-4.42,4.58-4.42v1.07c-1.91,0-3.47,1.5-3.47,3.35v15.53c0,.77.65,1.41,1.46,1.41s1.46-.63,1.46-1.41v-14.56h1.11v14.56c0,1.37-1.15,2.48-2.57,2.48\"><\/path><\/g><\/svg>\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3d26dce elementor-widget__width-initial elementor-widget elementor-widget-text-editor\" data-id=\"3d26dce\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>A strong and engaged workforce remains central to our longterm success. Efforts focused on strengthening communication, reinforcing accountability, and cultivating a workplace where employees feel valued and empowered to perform at their best.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7769573 elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"7769573\" data-element_type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-3bdbfee e-con-full e-flex e-con e-child\" data-id=\"3bdbfee\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-fe841d6 elementor-widget__width-initial elementor-widget-mobile__width-initial elementor-view-default elementor-widget elementor-widget-icon\" data-id=\"fe841d6\" data-element_type=\"widget\" data-widget_type=\"icon.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-icon-wrapper\">\n\t\t\t<div class=\"elementor-icon\">\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" id=\"Layer_2\" viewBox=\"0 0 24.68 24.64\"><defs><style>.cls-1{fill:#a26b39;stroke-width:0px;}<\/style><\/defs><g id=\"Layer_1-2\"><path class=\"cls-1\" 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e-flex e-con e-child\" data-id=\"0931059\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-83421ce elementor-widget elementor-widget-heading\" data-id=\"83421ce\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Employee engagement<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d84ebea elementor-widget elementor-widget-text-editor\" data-id=\"d84ebea\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<ul><li>Achieved<span class=\"yel\"> 81% <\/span> employee engagement score in the WTW survey<\/li><li>Set up a Workers\u2019 Council Committee to better represent employee interests<\/li><li>Enhanced internal communication, with regular updates on company performance and ongoing initiatives<\/li><li>Launched a new Performance Management System (PMS) to improve ownership and alignment with business goals<\/li><li>Increased the welfare budget to support staff wellbeing<\/li><li>Carried out regular townhall meetings with each department, presenting key achievements and progress updates<\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-83c4b38 e-con-full e-flex e-con e-child\" data-id=\"83c4b38\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-56ccef1 elementor-widget elementor-widget-heading\" data-id=\"56ccef1\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">2026 Priorities<\/h2>\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-f79b2e4 e-con-full e-flex e-con e-child\" data-id=\"f79b2e4\" data-element_type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-3689e1c elementor-widget elementor-widget-text-editor\" data-id=\"3689e1c\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<ul><li>Continue upskilling employees across all levels through targeted training initiatives<\/li><li>Deploy the online Performance Management System (PMS) platform<\/li><li>Update the business continuity plan and identify successors for critical positions<\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Performance Report OUR PILLARS UPHOLD CONFIDENCE Performance Report OUR PILLARS UPHOLD CONFIDENCE FINANCIAL CAPITAL Manufactured Capital Intellectual Capital Natural Capital Social Capital Human Capital FINANCIAL CAPITAL Manufactured Capital Intellectual Capital Natural Capital Social Capital Human Capital Performance Report Financial Capital Key Inputs Rs 0 M spent in professional fees on development projects: Winners, Splendour and [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-271","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/lavastone.mu\/annual-report-2025\/wp-json\/wp\/v2\/pages\/271","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lavastone.mu\/annual-report-2025\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/lavastone.mu\/annual-report-2025\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/lavastone.mu\/annual-report-2025\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/lavastone.mu\/annual-report-2025\/wp-json\/wp\/v2\/comments?post=271"}],"version-history":[{"count":193,"href":"https:\/\/lavastone.mu\/annual-report-2025\/wp-json\/wp\/v2\/pages\/271\/revisions"}],"predecessor-version":[{"id":2296,"href":"https:\/\/lavastone.mu\/annual-report-2025\/wp-json\/wp\/v2\/pages\/271\/revisions\/2296"}],"wp:attachment":[{"href":"https:\/\/lavastone.mu\/annual-report-2025\/wp-json\/wp\/v2\/media?parent=271"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}