AYALA Land Inc. (ALI) said its income rose by 25 percent during the first three quarters of the year, driven mainly by robust performance across the property-development, commercial-leasing and services business units.
The company said in a statement that its net income reached P10.8 billion during the first nine months, while consolidated revenues also reached P68.3 billion, 20 percent higher than the P56.9 billion last year.
“As we continue to build integrated communities across the country, we remain focused on the execution and delivery of our various projects. We also continue to aggressively pursue new opportunities for development, given the robust growth of the economy,” said Bernard Vincent Dy, the company’s president and chief executive officer.
Revenues of the company’s property-development business, which includes the sale of residential lots and units, office spaces and commercial and industrial lots, totaled P47 billion, 26 percent higher than the P37.4 billion it recorded last year.
Revenues from the residential segment also grew by 40 percent to P40.1 billion in the period. This was again driven by strong bookings and project completions across all segments.
Meanwhile, cash from shopping centers grew by 9 percent to P8.3 billion, from P7.6 billion. Total gross leasable area (GLA) was up 9 percent year-on-year (YOY), while occupied gross leasable area was also up 6 percent. The company also saw a 19-percent increase in its revenues from office-leasing operations to P3.1 billion, from P2.6 billion. Total GLA or gross leased area was up four percent YOY, while total occupied GLA was up 11 percent as of end-September 2014.
Meanwhile, Ayala Land’s hotels and resorts business grew by 37 percent to P4 billion, from P2.9 billion in the same period last year, a result of improved performance of new hotels and resorts.
Its wholly-owned construction and property-management companies contributed total revenues of P20.6 billion, compared to P16.3 billion in the previous period. The 26-percent increase was attributed to the steady completion of ALI Group projects and the higher revenue contribution of Ayala Property Management Corp. Ayala Land Premier, the brand for the upper segment of the market, grew its revenues by 63 percent YOY to P18.5 billion, mainly due to significant bookings from residential lots in Nuvali, Cavite, Calamba and Laguna, and high-value condominium units, such as East Gallery Place in Bonifacio Global City, Two Roxas Triangle and Garden Towers in Makati and Arbor Lanes in Arca South. Avida and Amaia, the brands for the middle segment, also recorded revenue growth of 11 percent and 65 percent to P9.2 billion and P2.4 billion, respectively. “Avida’s performance was anchored on the higher contributions from Avida Towers Vita in Vertis North; Avida Towers BGC 34th Street; Avida Towers Verte in Bonifacio Global City; and Avida Towers Riala in Cebu. Amaia revenues were primarily driven by the strong sales of Amaia Steps Nuvali,” the company said. BellaVita, the brand for the lower-end segment of the market, more than doubled to P75.8 million, mainly due to bookings generated by its projects in General Trias, Cavite, and Alaminos, Laguna.