Billionaire businessman Dhammika Perera has been making notable moves in the Colombo Stock Exchange (CSE), actively accumulating stakes across the diversified, manufacturing, real estate, and finance sectors, while unveiling ambitious plans to enter modern trade.
The CSE has rarely witnessed such a rapid and large-scale series of acquisitions by a single high-net-worth investor within just six months.
Earlier this month, Harischandra Mills PLC attracted attention as Mr. Perera acquired a 40 per cent stake for Rs. 2.57 billion. He purchased 778,946 shares from Senthilverl Holdings (Pvt) Ltd, the investment arm of Dr. T. Senthilverl, the company’s major shareholder. The shares were transacted at Rs. 3,300 each.
This investment highlights Mr. Perera’s strategic intent to strengthen his presence in the industrial sector. In September 2025, he further expanded his influence by consolidating control over Laugfs Holdings, following the exit of founder director and Deputy Chairman Thilak de Silva. Subsequently, Mr. Perera formed a 50 per cent partnership with co-founder W.K.H. Wegapitiya, cementing his position within the diversified group.
His ambitions in the finance sector also became evident in September 2025, when Vallibel One PLC—under his control—announced plans to acquire a majority stake in Associated Motor Finance Company PLC. Though the deal is yet to be finalised, it aligns with his broader strategy to expand his footprint across key industries.
In July 2025, Mr. Perera made a significant foray into the real estate market by purchasing a 77.4 per cent stake in East West Properties PLC from businessman Nahil Wijesuriya for Rs. 3.2 billion. The acquisition involved 107 million shares at Rs. 30.20 each through four transactions. Following the purchase, the company’s share price climbed 22.3 per cent (Rs. 5.80) to close at Rs. 31.80, marking a strong market response.
Further strengthening his industrial portfolio, Mr. Perera acquired DHT Cement Ltd, a joint venture between Indian and Sri Lankan investors, for US$ 20 million about six months ago. The transaction included US$ 8 million for existing shares from original shareholders and an additional US$ 12 million for newly issued shares, underscoring his commitment to diversifying across multiple sectors.
Meanwhile, Hayleys PLC, controlled by Mr. Perera, announced plans this week to venture into the large-scale supermarket sector, with a target of launching 100 outlets in its first phase. This marks a landmark step in Hayleys’ 148-year history, reflecting its continued diversification and drive for value creation in the retail business.
Market analysts note that Mr. Perera remains on the lookout for further opportunities, particularly in the manufacturing sector, with a preference for listed companies on the Colombo Stock Exchange where he can acquire controlling stakes.
