At nearby Bentota beach you can surf (or learn to if you don't know how) and wind surf. There's also deep sea fishing and scuba diving courses run by professionals. The Bentota River is home to a host of water sports including water skiing, wake boarding, and banana boats for the kids.
Sri Villas is close to both the Bentota and Balapitiya Rivers where various excursions are on offer. including birdwatching in the mangrove swamps and a cruise up the Balapitiya River to an ancient Buddhist Temple stopping off at a working cinnamon plantation.