Living the connection…
INTEGRATED REPORT 2025
This year, our story is one of connection, belonging, and shared purpose.
At BlueLife, we believe that the true measure of success lies not only in the structures we build, but in the communities that grow within them, vibrant, diverse, and inspired by the simple joy of living well together.
Through Azuri Village and our wider developments, we continue to shape spaces that bring people closer, to nature, to wellbeing, and to each other. FY24/25 marked a new chapter in our vision for sustainable and inclusive coastal living, where every resident contributes to a collective sense of place.
Join us in exploring a year defined by collaboration, innovation, and the enduring spirit of community.
Our values
We interact with integrity and respect.
We embrace challenge and never give up.
We succeed through teamwork and collaboration
We embrace challenge and never give up.
We succeed through teamwork and collaboration
The key to success living
People, activities, offerings, Outlooks, opportunities.
Our vision
Designing the lifestyle patterns of tomorrow.
Our purpose
Happiness inspires the lifestyle we create
Message from
Jean-Claude Béga
Chairman
Dear Shareholders,
I am pleased to report that BlueLife’s growth momentum continued in financial year 2024-25. The Group delivered a solid financial performance, with Net Asset Value increasing by 6.2%, from MUR 2.51 billion to MUR 2.67 billion, representing MUR 2.31 per share (2024 MUR 2.18).
For the second consecutive year, the Board declared a dividend, underlining our commitment to delivering value to shareholders. This year’s dividend of MUR 23,098,042 was paid in full on 30th September 2025.
This performance reflects the strength of our strategy and our ability to execute on multiple fronts.
Message from
Hugues Lagesse
Chief Executive Officer
At the close of the financial year 2024-25, BlueLife Group registered a revenue of MUR 1.4 billion, reflecting the sustained growth initiated by our Smart City certification, underpinned by a solid masterplan.
Thanks to the dedication of a focused team and the establishment of streamlined processes, we have now entered a phase of consistent execution.
The results we present this year align strongly with this forward momentum.
Message from
Michèle Anne
Espitalier Noël
Chief Finance Officer
BlueLife’s Annual Report 2025 continues to present a holistic view of the Group’s performance, encompassing both financial and non-financial achievements, driving sustainable value creation for our stakeholders in the short- and long-term.
Following the strong momentum of financial year 2023-24, financial year 2024-25 unfolded under more complex conditions. While the Group remained financially sound and disciplined, the year was impacted by external circumstances, mainly delays in obtaining development, environmental and building permits, with a knock-on effect impacting the timely start of constructions and the recognition of completion revenues. Rising input costs and the scarcity of qualified contractors further highlighted the importance of agility and proactive management.
Metrics
at a glance
Employees
0
Business Segments
0
Shareholders
0
1,020 endemic trees in Azuri
in the last 3 years
in the last 3 years
3 out of the 8 board members
are female (37.7%).
are female (37.7%).
512 units delivered in Azuri since
2014. 83 units in construction.
286 units in commercialisation
and with construction starting
in FY25/26.
2014. 83 units in construction.
286 units in commercialisation
and with construction starting
in FY25/26.
Sustainability
At BlueLife, we are rethinking how urban environments interact with nature. Azuri Smart City’s new stormwater management system replaces conventional concrete drains with bioswales, talwegs and bioretention zones, transforming water into a regenerative resource. This nature-based network reduces flooding, replenishes groundwater and enriches biodiversity while creating greener, cooler public spaces.
To date, Azuri has already developed over 23,000 m² of landscaped parks and lawns, with an additional 29,000 m² planned in the coming years. These green corridors embody our commitment to building with nature at heart and ensuring Azuri remains a model of sustainable, resilient living.