PP Properti Tbk (PPRO), a leading property developer, has recorded marketing sales amounting to IDR 1.97 trillion in the period of January to July 2017, surging 87 percent over the same period last year. This achievement pushed the company’s revenue by as much as 28 percent to IDR 1.32 trillion. The company also recorded net profit of IDR 200 billion, increasing 25 percent from IDR 160 billion in the same period last year.
According to Taufik Hidayat, President Director of PPRO, the increase shows that the products offered by the company are well received by consumers. “We have an exciting and unique portfolio, thus consumer interest on our products is high,” said Taufik.
PPRO is targeting marketing sales to increase by 24 percent to IDR 3.1 trillion, as well as its sales by 19 percent to IDR 2.5 trillion, and net profit by 20 percent to IDR 438 billion.
The company’s growth is also supported by the expansion of new projects and land acquisitions. PPRO is targeting to have 280 ha of land bank by the end of this year, growing three times from 70 ha in 2016.
“With this expansion plan, PPRO is expecting asset growth to reach 48 percent to IDR 13.1 trillion this year,” said Taufik. The company’s equity is also expected to surge by 100 percent to IDR 5.8 trillion from IDR 2.9 trillion recorded last year. (*)