[ad_1]
Century Properties Group Inc. (CPG) stated its revenue within the first quarter rose 22 p.c to P249.43 million from final 12 months’s P204.58 million, as its inexpensive housing and leasing enterprise segments carried out properly throughout the interval.
The corporate stated it had P2.61 billion in consolidated revenues in January to March, up by 26 p.c from P2.07 billion final 12 months.
CPG’s inexpensive housing arm, Phirst Park Properties Inc., a three way partnership with Mitsubishi Corp., contributed P1.2 billion or 46 p.c of whole revenues. This can be a important enhance from its 22 p.c contribution in the identical interval final 12 months, the corporate stated.
The steadiness got here from the in-city vertical and leasing segments contributing 42 p.c and eight p.c, respectively.
“The sturdy gross sales take-up and on-schedule land growth, home constructions and unit turnovers of our inexpensive housing tasks noticed the revenues from this phase rising by 61 p.c, considerably including to the revenues generated from leasing enterprise and in-city vertical growth tasks,” Ponciano S. Carreon Jr., the corporate’s CFO, stated.
With already 10 communities as of December, Phirst Park Properties Naic was launched in March whereas 4 extra are lined up for launch this 12 months. As of end-March, the corporate has already accomplished 3,953 inexpensive homes, 2,678 of which have already been turned over.
“The corporate’s technique of deploying sources on segments and tasks to deal with commitments to ship to our patrons grew this quarter’s income whereas on the identical time preserving our steadiness sheet and liquidity ranges wholesome,” CPG President and CEO Marco Antonio stated.
“We have now been constantly turning over items in our inexpensive housing tasks in addition to items in our vertical growth tasks equivalent to The Resort Residences at Azure North, The Residences at Commonwealth, and Century Spire. We see the residential sector sturdy and, given the general re-opening of the financial system, even additional recovering within the second half. Thus, we’re going full steam forward with our horizontal tasks and managed launchings for our vertical segments within the coming months.”
[ad_2]
Source link