Monday, November 17, 2014
Equipped with a growing portfolio, Vista Land and Lifescapes Inc. is well on its way to its intended full-year net income and target revenue, said its company President and CEO, Manuel Paolo Villar.
Given the launch of 35 developments worth P21 billion from January to September, the company’s net income increased by 12 percent, going from last year's P3.79 billion to P4.24 billion within the time period. Revenues, likewise, grew from P35.5 billion to P38.7 billion.
Eyeing P51 billion in sales, Villar expressed that his company is on track to meet its goals. Vista Land chairman Manuel B. Villar Jr. shares the same confidence, citing that the firm was “averaging P13 billion in sales every quarter, and we should be able to hit a record P51 billion in sales for 2014.”
“Most of our sales have been coming from our core product, which is housing, both in Metro Manila and in the provinces,” said the chairman. “We fully expect to see continued strong sales performance in the coming years as demand for house and lot continues to be robust, particularly in the mid- to low-end segment of the market.”
The firm saw consistent growth in all of its subsidiary brands: a 47 percent increase in Communities Philippines; 27 percent in Camella Homes; 11 percent in CrownAsia; 6 percent in Brittany; and 9 percent in Vista Residences.
“We’re expecting more momentum next year, for the first and second quarters. I think we’ve been running down on less prime inventory,” said Villar Jr. “We’re planning to increase momentum in the first half next year.”