Ayala Land nets 15% more in third quarter of 2018

MANILA, Philippines — Ayala Land Inc. (ALI)  reported a 15 percent rise in its third quarter net income to P7.2 billion.

The company registered a 14 percent hike in revenues to P39.3 billion. 

This brought nine-month earnings to P20.78 billion, up 17 percent year on year.

Revenues grew by 21 percent to P119.7 billion on strong sales of residential units and the rosy performance of the commercial leasing businesses.

ALI president and chief executive officer Bernard Vincent Dy said  the company was able to sustain its growth momentum in the third quarter.

By segment, ALI’s property development revenues grew 23 percent to P82.8 billion.

Revenues from sales under ALI’s five residential brands – Ayala Land Premier, Alveo, Avida, Amaia, and Bellavita, and from the operations of MCT Bhd in Malaysia, increased 26 percent to P70.3 billion.

Similarly, revenues from the sale of office spaces reached P6.9 billion, two percent higher than the previous year.

Demand for property remained strong, boosting ALI’s reservation sales by 15 percent to a total of P108.4 billion.

ALI has launched P81.8 billion worth of residential and office projects from January to September 2018. 

The company’s commercial leasing business, meanwhile, also grew its revenues to P25.3 billion, up 14 percent.

Revenues from office leasing also grew double digit, reaching P5.4 billion or 13 percent higher than last year.

The company’s hotels and resorts business continued to grow with 2,618 rooms in operation as of the end of September.  Revenues from this segment grew 17 percent to P5.7 billion.

In terms of capital expenditures, ALI spent a total of P77.9 billion in the first nine months as it continues to build on its residential and commercial leasing projects and sustainable mixed-use estates nationwide.