MANILA, Philippines — Ayala Land Inc. (ALI) reported a net income of P18.4 billion in the first nine months of the year, up 38 percent on higher revenues.
ALI registered P98.9 billion in consolidated revenues, up 15 percent despite the challenging environment.
ALI president and CEO Anna Ma. Margarita Bautista-Dy said the strong performance of the various business lines in the nine months is a testament to the continuing resilience of the residential market and vibrant consumer activity despite ongoing macroeconomic challenges.
“This positive trend, guided by our new focus on quality, people, sustainability, and growth, will enable us to strengthen our diversified portfolio and further enhance earnings,” she said.
The company poured in capital expenditures of P57.6 billion, of which 54 percent was spent on residential projects, nine percent on commercial projects, 18 percent on land acquisition, 17 percent on estate development, and two percent for other purposes.
Of the different business segments, ALI grew its property development revenues by four percent to P57.2 billion from higher residential completion, stable bookings, and office unit sales.
Residential revenues increased by four percent to P47.5 billion, while office-for-sale revenues registered a 31 percent growth from last year to P2.8 billion.
On the other hand, revenues from commercial and industrial lots totaled P6.9 billion, eight percent lower than last year.
Residential sales reservations rose by 11 percent to P85.9 billion.
Third-quarter sales reached P27.6 billion, adding to the P58.3 billion sales generated in the first half.
The in-demand projects were Alveo’s Park East Place in BGC, AyalaLand Premier’s (ALP) Ciela in Carmona, Cavite, Arcilo in Nuvali, Laguna, and Parklinks South Tower in Quezon City, and Avida Towers Makati Southpoint.
During the period, ALI launched five new projects worth P4.4 billion, namely: AyalaLand Premier’s Ayala Greenfield Estates Parkside Terraces Tranche 2, Andacillo Tranche 5, and Lanewood Hills Phase 3 Batch 3, Avida’s first mid-rise condominium offering in Nuvali, Solara Park Storeys, and Amaia’s Scapes Cabuyao Sector 4.
These developments bring Ayala Land’s total launches to 11 projects valued at P36.3 billion.