Haus Talk chalks up P299-M profit in Jan–Sept

Mass housing developer Haus Talk Inc. (HTI) strong revenue growth in the first three quarters suggests that it may have already surpassed its 2023 bottom line even with three more months to go.

In a statement, the listed company reported that its nine-month net income more than doubled to P299 million from P142 million recorded in January to September last year.

Also, the latest nine-month result is 23 percent more than the P242.65-million net profit recorded in the same period last year.

READ: Haus Talk sales, earnings surge on strong demand

The higher nine-month bottom-line was supported by a 76-percent surge in revenues, which reached about P1.2 billion from P681.71 million in the same period a year ago.

HTI noted that stronger sales were driven by its projects in Laguna, namely The Granary in Biñan and Southview Homes Calendola in San Pedro.

“The company continues to see strong demand and an increasing number of home handovers,” it said.

In addition, the property developer said its bottom line got a boost from cost savings due to tax holidays. HTI enjoys incentives from the government, being part of the Expanding Developer of Economic Housing cluster, which aims to promote mass housing in the country.

“This [third] quarter reflects the alignment of the key strategies we’ve implemented since our [initial public offering] IPO in 2022,” said Francis Madlambayan, HTI head of corporate planning and investor relations.

“From strategic property acquisition and streamlined production, to securing government incentives, each element has come together to deliver these impressive results,” Francis Madlambayan said.

In 2022, the company debuted in the local bourse and raised P750 million through its initial public offering.

HTI said it had been using the proceeds from the IPO to acquire strategic land properties for its future projects.

“With a massive housing backlog of around six million homes—primarily in the economic housing category—HTI is well-positioned to meet this demand, providing quality, affordable housing for more Filipinos,” the company said.

In April, HTI launched two projects in Antipolo City, Rizal —The Hammond and the Ellery Homes.

The Hammond is a 1.6-hectare economic hub built with 161 units. Ellery, meanwhile, is a two-building condominium development with 144 units. INQ