Property giant Ayala Land Inc. grew its net profit last year by 30 percent to hit a record-high P11.74 billion on strong across-the-board growth in its residential, office, shopping mall, hotel and resort operations.
With this performance, ALI exceeded its target of breaching the P10-billion net profit milestone a year ahead of the timetable in its five-year plan.
For this year, ALI has set aside another P70 billion in capital outlays, primarily for the completion of ongoing developments and the launch of 78 new projects with an estimated value of P142 billion. The company plans to bring to the property market 30,000 units across all residential brands, anticipating continued demand for housing products.
Last year, ALI’s five residential brands launched a total of 28,482 units worth P108 billion. The company broke ground for three new estates in 2013: The 21-hectare Circuit Makati, the 32-hectare Atria in Iloilo and the 100-hectare Altaraza in Bulacan.
As an indicator of future revenue growth, ALI’s sales take-up value last year likewise reached a record P91.93 billion, equivalent to a monthly record-high average sales take-up of P7.66 billion. Last year’s sales take-up value rose by 18 percent from the previous year.
In 2013, the company’s consolidated revenues reached P81.52 billion, 36 percent higher year-on-year. Revenues from the residential segment reached P41.99 billion, 32-percent higher than a year ago on “solid bookings and steady project launches across all brands,” the company said. Doris C. Dumlao