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Excello Developers on strategy, stability and the future of Sri Lanka’s construction sector

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Founder and CEO, Subash Thavarajasingam

As global uncertainty affects local industries, Sri Lanka’s construction sector is making careful adjustments. With ongoing challenges like supply chain issues and changing economic conditions, industry leaders are putting more emphasis on stability, adaptability, and long-term planning.

Subash Thavarajasingam, Founder and CEO of Excello Developers, sees this period as a chance for steady progress rather than disruption. “This is a time for measured growth and smart decision-making,” Subash says. “By staying adaptable and focused on long-term value, we believe the sector is well-positioned to move forward with confidence.”

Instead of responding only to short-term changes, Subash stresses the need for proactive planning. “With the ongoing disruptions, we have seen some pressure on fuel costs and logistics. But we have proactively refined our procurement strategies – how materials are sourced, combining shipments, and building stronger relationships with suppliers”. Excello also reviews project specifications when needed, focusing on efficiency without sacrificing quality.

While some delays in delivery timelines, particularly for specialised components, have become unavoidable, Subash views this as a planning challenge rather than a setback, focusing on tactics such as placing orders earlier in the project lifecycle, building buffer periods into schedules, prioritising critical-path materials and maintaining closer coordination to ensure continuity. In this way, Excello has kept all its projects moving forward. “We have not had to suspend any projects; instead, we are being more selective and strategic in execution.”

A key theme emerging across the sector is diversification, particularly in sourcing. For Excello, this has become central to risk management. “We are actively exploring alternative sourcing options, including regional suppliers in East Asia, while also increasing engagement with local manufacturers where feasible,” Subash says. “While imports remain essential for certain materials, a more balanced sourcing strategy strengthens resilience.”

In parallel, contractual frameworks are also evolving. With cost fluctuations now a constant consideration, developers are rethinking how risk is shared across projects, incorporating more flexible pricing mechanisms and escalation provisions into contracts, thereby creating a more balanced risk-sharing framework between stakeholders that helps ensure project viability even in fluctuating market conditions.

Earlier forecasts predicted steady growth in the construction industry over the next couple of years, and despite current challenges Subash remains positive “Timelines may shift rather than decline,” he says. “The long-term fundamentals remain strong, particularly driven by urbanisation and evolving lifestyle needs.” Another positive is the shift in workforce trends “We have a valuable opportunity to strengthen the local construction workforce,” explains Subash. “While there may be some short-term adjustments, the long-term impact could be very positive, improving execution standards and addressing skill shortages.”

In an environment defined by uncertainty, flexibility has become a cornerstone of strategy. “We continuously evaluate external triggers such as fuel price fluctuations and global supply chain disruptions,” Subash concludes “We are adjusting timelines, cost structures, and investment strategies as needed, rather than committing to rigid plans.”

For Subash and Excello Developers, the way forward is to stay disciplined, remain adaptable, and build with purpose. This approach matches a wider trend in Sri Lanka’s construction sector, with companies across the industry investing in more resilient supply chains and updating risk-sharing frameworks to ensure sustained progress. Together, these efforts demonstrate an industry committed to moving from recovery to resilience, turning uncertainty into opportunity.



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DIMO KNIGHTS 2026 Reinforces a Culture of Recognition and Growth

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DIMO celebrated DIMO KNIGHTS 2026, recognizing employees whose exceptional dedication, leadership, innovation, and commitment continue to shape the organization’s success. More than an employee recognition event, DIMO KNIGHTS reflects DIMO’s unwavering commitment to cultivating a workplace where people are empowered to thrive, reinforcing the Employee Value Proposition of ‘Making Work Enjoyable and Rewarding’ while bringing its Corporate Purpose of Fuelling Dreams and Aspirations to life.

Held under the theme “Illuminating Leadership, Inspiring Achievement,” the event celebrated individuals who exemplify DIMO’s values and inspire excellence across the organization. By recognizing those who consistently go above and beyond, DIMO continues to foster a high-performance culture where people are empowered to innovate, lead, and create meaningful impact.

A highlight of the evening was the keynote address delivered by Mr. Ravi Kant, former Managing Director and Vice Chairman of Tata Motors India, who shared valuable insights on leadership, organizational transformation, and building resilient organizations capable of sustaining long-term success.

Commenting on the event, Ms. Dilrukshi Kurukulasuriya, Executive Director / Chief Human Resources Officer of DIMO, said: “Our Tribe is the driving force behind DIMO’s continued success. DIMO KNIGHTS is more than a celebration of outstanding performance; it is a reflection of the culture we strive to build every day. By recognizing and empowering our people, we reinforce our Employee Value Proposition of ‘Making Work Enjoyable and Rewarding’ while bringing our Corporate Purpose to life. When our people grow, innovate, and thrive, they create lasting value for our customers, partners, and the communities we serve.”

DIMO KNIGHTS reinforces the organization’s people-first philosophy by fostering a culture of appreciation, continuous learning, and purposeful leadership. The programme reflects DIMO’s conviction that when employees are empowered, recognized, and inspired to excel, they shape the future of the organization through innovation, collaboration, and sustained excellence, strengthening a high-performing culture that delivers lasting value, drives sustainable business success, and reinforces DIMO’s position as an employer of choice.

The evening recognized employees across a wide range of categories, celebrating outstanding performance, innovation, collaboration, customer focus, and leadership. The ceremony culminated with the presentation of the prestigious Innovator of the Year and Employee of the Year awards, with the Employee of the Year accolade presented to Mr. Chathura Gunasekera.

As DIMO continues to invest in developing exceptional talent, initiatives such as DIMO KNIGHTS reaffirm the organization’s belief that sustainable business success begins with its people. By creating an environment where individuals are recognized, empowered, and inspired to achieve their full potential, DIMO continues to cultivate a purpose-driven, high-performing workforce that is equipped to shape the future of the organization while delivering lasting value to all stakeholders.

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Sri Lanka’s lifestyle coffee culture boom and the two faces of its economy

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Cutting the cake for outlet number 100 - a symbol of urban commercial revival set against a backdrop of wider household economic recovery.

By Sanath Nanayakkare

On Baseline Road in Colombo, Barista Coffee recently opened its 100th outlet. For a modern café culture spreading across shopping centers, office districts, and provincial towns, this milestone is a major commercial success. It shows a thriving urban service sector and a growing class of lifestyle consumers who use coffee shops as places to work, socialise, and meet.

This is a curious new picture emerging from Sri Lanka’s post-crisis economic recovery: the coffee cup is getting bigger, even as the household tea cup tells a very different story.

Yet, looking past the espresso machines, a different reality unfolds in the country’s kitchens.

International financial institutions note that while Sri Lanka’s macro-economy is recovering, household welfare and employment remain below pre-crisis levels. Poverty rates sit at roughly double what they were in 2019, and food prices doubled over a three-year span, forcing families to cut back on essentials.

This creates a striking local paradox, especially given Sri Lanka’s proud heritage as a global tea producer. While the world pays top dollar for Ceylon Tea, local market studies and industry reports have long pointed out an unfortunate disparity: many ordinary families find high-quality tea too expensive, often settling for lower-grade alternatives at home.

The growth of a 100-outlet coffee network does not mean prosperity has spread evenly across the island. Instead, it proves that there is a specific, well-resourced segment of consumers with the purchasing power to sustain a premium lifestyle economy, even as many other households carefully calculate the cost of everyday groceries.

Barista’s 100th store is not a bad-news story; it is a testament to acute entrepreneurial grit, shifting consumer behavior, and the vital revival of the nation’s urban service sectors. But it serves as an uncompromising reminder that macroeconomic stabilisation is not synonymous with household recovery.

As Colombo’s coffee culture looks toward its next hundred outlets, the true pulse of the nation’s economic health will not be measured by the espresso machines humming in sleek urban hubs, but by the quiet arithmetic happening in millions of kitchens beyond its doors – where the fundamental question remains whether a family can comfortably afford a better cup of Ceylon Tea.

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Aitken Spence Hotel Holdings Rs. 5 billion debenture issue oversubscribed on opening day

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Aitken Spence Hotel Holdings PLC announced that its maiden listed, rated, unsecured, senior

redeemable debenture issue was oversubscribed on its opening day, 15th September 2026.

The Company sought to raise Rs. 3 billion through an initial issuance of 30 million debentures at Rs.

100 each, with an option to issue a further 20 million debentures in the event of oversubscription of the initial issue, increasing the total issue size to Rs. 5 billion.

The Company said it had received applications for more than 50 million debentures, the full amount on offer, prompting the issue to close at 4:30 p.m. on the opening day (15).

The basis of allotment will be announced to the Colombo Stock Exchange as per regulatory requirements in due course.

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