A surge of growth rippled through the company’s performance over the first nine months, culminating in a consolidated net income of P3.1 billion – a compelling 6% leap from the previous year’s P2.9 billion. This isn’t simply a numerical increase; it represents a strengthening foundation and expanding reach within the property landscape.
Revenues climbed to P14.3 billion, a subtle yet significant 2% increase from the P14.1 billion recorded previously. The core of this revenue, P12.4 billion, stemmed directly from robust real estate sales, demonstrating continued demand and successful project execution.
A dramatic upswing in recurring income – a remarkable 72% growth – signaled a diversifying and maturing business model. This impressive figure was fueled by strategic new property openings and consistently high occupancy rates across the portfolio.
Hotel revenues exploded with a 101% increase, while rental income demonstrated substantial gains, rising by 49%. These figures highlight the success of expanding beyond traditional residential development and capitalizing on the hospitality and commercial sectors.
Demand for future homes soared, with residential reservation sales jumping 27% to reach P19.3 billion. This surge was directly linked to the successful launches of key projects, including the highly anticipated One Manresa Place in Cagayan de Oro and Casa Mira Homes Gensan.
The company’s financial strength is further underscored by an 18% increase in total assets, now totaling P128.7 billion. A healthy net debt-to-equity ratio of 1.63x indicates a balanced and sustainable financial structure.
Strategic land acquisition remains a priority, with the company’s landbank now spanning 188 hectares. A particularly significant addition is a sprawling 79-hectare property in Liloan, Cebu, earmarked for a dynamic mixed-use development.
Currently, the company expertly manages a portfolio of 131 projects, a diverse collection encompassing 102 residential developments and 16 income-generating properties. This includes a growing number of hotels and strategically located office spaces.
