Ayala Land Reports Income Increase From January to September

Ayala Land Inc (ALI) has reported that its attributable income from January to September rose by more than 50% to ₱13.34 billion. This is an increase compared to last year’s figures of ₱8.58 billion.

For the same period, consolidated revenues rose by 19% to ₱86.31 billion compared to last year’s ₱72.6 billion. For Q3, the company reported a net income of ₱5.26 billion, which doubled from ₱2.54 billion in 2021. Consolidated revenues for this year also increased by 39% to ₱32.97 billion.

According to Ayala Land President and CEO Bernard Vincent O. Dy, “The acceleration in business and consumer activity during the period enabled us to generate significant earnings growth,”

“The demand for our residential products remained resilient and local consumption continues to be robust despite geopolitical and macroeconomic challenges. We believe the strength of our local market will provide the backbone to sustain the growth of our diversified real estate portfolio for the rest of the year.”

“The demand for our residential products remained resilient and local consumption continues to be robust despite geopolitical and macroeconomic challenges. We believe the strength of our local market will provide the backbone to sustain the growth of our diversified real estate portfolio for the rest of the year.”

The property development revenues went up by 7% to ₱55.2 billion which was due to high investor demand at South Coast City, Arca South, and Nuvali. On the other hand, residential revenues also increased by 2% or ₱45.6 billion.

However, office-for-sale revenues decreased by 26% to ₱2.1 billion due to the completion of their BGC Alveo Park Triangle Tower.

Source: Business Mirror