A major player in its industry, Ayala Land, Inc. (ALI) announced a 25 percent increase in its net income.
In a disclosure to the Philippine Stock Exchange, the property giant issued that from January to September, the company’s net income rose to P10.8 billion, a marked increase from last year.
Meanwhile, Ayala Land’s consolidated revenue rose to P68.3 billion, an upsurge of 20 percent from last year’s P56.9 billion.
Ayala Land profits from property development, commercial leasing, and services business units.
Property development earned the company 26 percent more than the previous year, going from P37.4 billion in 2013 to P47 billion as of September 2014.
Residential developments proved to be the top earner, with a revenue of P40.1 billion, 40 percent more than the previous year.
“As we continue to build integrated communities across the country, we remain focused on the execution and delivery of our various projects,” issued Ayala Land president and CEO Bernard Vincent Dy. “We also continue to aggressively pursue new opportunities for development, given the robust growth of the economy.”
Ayala Land Premier, the firm’s subsidiary catering to the luxury market, raked in P18.5 billion, marking a 63 percent growth in revenue. Another subsidiary, Alveo, posted P7.2 billion in revenue.
Ayala Land’s subsidiary for the mid-range market, Avida, enjoyed an increase of 11 percent with P9.2 billion. Amaia, providing the firm’s most affordable developments, posted an increase of 65 percent with P2.4 billion in revenue.
Revenues from office leasing earned up to P3.1 billion, an increase of 19 percent from last year’s P2.6 billion. The company’s hotels and resorts grew by 37 percent, going up to P4 billion from P2.9 billion.
Likewise, Ayala Land’s shopping centers enjoyed an increase of 9 percent, from P7.6 billion to P8.3 billion.