Haus Talk sales, earnings surge on strong demand
Newly-listed housing developer Haus Talk Inc. (HTI) reported a triple-digit annual increase in revenues and net income in the first nine months of 2021, citing robust demand for its housing products despite the prolonged COVID-19 pandemic.
HTI recorded P173.99 million in revenue in the first three quarters, reflecting a 164 percent growth from the previous year, HTI said in a disclosure to the Philippine Stock Exchange on Friday. This resulted in a 107-percent growth in net income for the period, the company said, without disclosing the actual figure.
The substantial rise in revenue was attributed mainly to its new projects in Antipolo—East View Residence Premiere and in San Pedro Laguna—South View Homes Calendola, which comprised of 53 percent of the total sales that supported revenue growth. The remaining 47 percent came from the sales of units in HTI’s existing projects.
Furthermore, HTI—which caters to working class Filipinos—was able to secure licenses to sell new projects, allowing its buyers to make full payments on their equity requirement.
HTI president Maria Rachel Madlambayan said despite the challenges from the pandemic, the company continued to show strong performance, citing a consistent increase in demand for HTI’s products. The company sells housing units worth at least P750,000, for socialized housing products, to as high as P3 million to P4 million, for affordable housing products.
Almost 100 percent of the company’s units in its new projects have already been spoken for, the company said.
Article continues after this advertisement“Strong interest of buyers towards HTI’s products through the years, has been a validation that the quality of units built, among other strengths, is well-accepted and specifically sought after by the market,” the disclosure said.
With its newly raised capital from its recent initial public offering, HTI intends to use the proceeds in continuing its bullish approach toward corporate growth, further increasing profitability and maintaining strong business fundamentals. This will likewise include initiatives in carefully planning on entering into strategic partnerships and business ventures with players in the real estate development industry.
