REAL ESTATE Developer Sta. Lucia Land, Inc. (SLI) on Tuesday announced a 66% increase in net profit to 2.84 billion pesos last year, thanks to the company’s land banking initiatives.
“For the year 2021, SLI has continued to grow and strengthen its foundation in select provinces through continued land banks where the company has had proven and continued success, including new pioneer areas,” SLI said in a statement.
Gross revenue also increased by 24% to P8.37 billion.
SLI recorded sales growth of 64% in Mindanao, 41% in the Visayas and 22% in Luzon.
“Our balance sheet continues to grow as total assets increased by 14% from 45.79 billion pesos to 51.99 billion pesos,” the company added.
In terms of land reserve, the Board recently approved land acquisitions and joint venture agreements totaling 434.42 hectares (ha) in Cavite, Laguna, Batangas, Rizal, Bulacan, Pangasinan, Cebu, Iloilo, Cotabato and Davao del Sur.
“The organization has also expanded its commercial properties adjacent to our residential communities with over 122.68ha across the country,” SLI said.
The company added that it seeks to “unleash the values of these developed properties, meet community needs and maximize its recurring revenue base.”
It has two subsidiaries, namely: Sta. Lucia Homes, Inc., which is engaged in the development and construction of properties; and Santalucia Ventures Inc., which does marketing and advertising.
In trading on Tuesday, SLI shares closed unchanged at P2.93 apiece. — Luisa Maria Jacinta C. Jocson