Resilient housing market boosted Ayala Land’s net profit by 33% in Q3

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PROPERTY developer Ayala Land Inc. said Wednesday its third-quarter net income grew 33 percent to P7 billion from P5.26 billion in the same period last year despite the flat revenue growth.

“The strong performance of our various business lines in the first nine months of 2023 is a testament to the continuing resilience of the residential market and vibrant consumer activity despite ongoing macroeconomic challenges. This positive trend, guided by our new focus on quality, people, sustainability, and growth, will enable us to strengthen our diversified portfolio and further enhance earnings,” said ALI president and chief executive Anna Ma. Margarita Bautista-Dy.

Residential revenues increased 4 percent to P47.5 billion, while office-for-sale revenues registered a 31-percent growth to P2.8 billion.Residential reservations in the first nine months went up 11 percent year-on-year to P85.9 billion with third-quarter sales reaching P27.6 billion.

 

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