News Tag: Bulacan

Sta Lucia earns 23% more in Q1

Sta Lucia Land Inc
Sta Lucia Land Inc

MANILA, Philippines – Sta. Lucia Land Inc. (SLI) grew its earnings nearly a fourth in the first three months of the year on the back of higher real estate sales.
In a regulatory filing, SLI said its net income climbed 23 percent in the first quarter to P228 million from P185 million in the same period last year.
The company attributed the higher income to a 61-percent growth in revenues it saw during the quarter at P894 million.
SLI said gross revenues from real estate sales rose 45 percent year-on-year to P614 million.
“The growth was mainly driven by robust sales in horizontal and vertical projects,” SLI said.
To sustain its growth momentum for the rest of the year, SLI said it would continue to develop projects nationwide including locations such as Davao, Rizal, Batangas, Laguna and Pasig City.
As one of the country’s largest subdivision developers with presence in 10 regions across the country, SLI said it currently has a total of 43 ongoing projects in various stages.
The company earlier this year reported acquisitions of properties in Batangas and Iloilo with a combined size of 34.53 hectares as well as 16 joint venture agreements in Davao, Rizal, Pasig, Batangas and Laguna for properties having a combined size of 142.33 hectares.

Real estate sales fuel increase in Sta. Lucia Land's 2014 net income by 83 percent

Alta Vista Residential, Gold and Country Club Cebu City by Sta. Lucia Land Incorporated
Garden

MANILA, Philippines – Sta. Lucia Land Inc (SLI) earned substantially more in 2014 on the strength of its real estate sales.
In a disclosure to the Philippine Stock Exchange, SLI said it earned P548 million last year, an 83 percent increase from the P300 million in 2013. Real estate sales grew by 80 percent to P1.445 billion from P801 million over the same period.
According to SLI, bulk of the growth came from sales of the Colinas Verdes Residential Estates (San Jose del Monte, Bulacan), Monte Carlo Tower-Sta. Lucia Residence (Cainta, Rizal), Greenmeadows (Pavia, Iloilo) and Ponte Verde (Davao City).
Rental income from mall operations grew by a slower 3.4 percent to P255 million last year from P247 million in 2013. Growth came from mall expansion, the cost of which tempered the increase.
SLI has 43 projects, most of which are large-scale master-planned subdivision communities in emerging cities and provinces near Metro Manila.

Income surge for Sta. Lucia Land Incorporated

Splendido Tagaytay
Splendido Tagaytay

In a statement yesterday, the company said bottom line in 2014 reached P548 million from P300 million, while real estate revenues went up to P1.445 billion from P801 million.
“Majority of the growth came from the sales of Colinas Verdes Residential Estates (San Jose Del Monte, Bulacan), Monte Carlo Tower – Sta Lucia Residenze (Cainta, Rizal), Greenmeadows (Pavia, Iloilo), and Ponte Verde (Davao City),” Sta. Lucia said.
Net rental income from its shopping mall, the Sta. Lucia East Grand Mall, inched up 3.4% to P255 million.
“The increase [in income] due to the opening of the mall expansion was slightly offset by increased structural upgrades and improvements expenses in the existing one,” the company explained.
As a result, earnings per share surged 128% to P.064 “due to the increased income as well as the booking of treasury shares.”
Gross profit margins on real estate sales remain at 47%, while net income margin rose to almost 24% from 22.6%.
Sta. Lucia currently has a total of 43 ongoing projects and remains focused on building large-scale master-planned subdivisions in Metro Manila’s nearby provinces and emerging cities.
Last month, it announced that it entered into 16 new joint venture agreements and acquired several properties in the outskirts of the metropolis, in line with plans to purchase up to 1,000 hectares (ha) of land this year. The new partnerships expanded its land bank by 142.33 ha in Davao, Rizal, Pasig City, Batangas and Laguna. The company also acquired a total of 34.53 ha in the provinces of Batangas and Iloilo.
Some of the projects are “extensions of existing developments,” such as Ponte Verde in Davao, Greenwoods Executive in Pasig City, Metropolis East in Rizal, Golden Meadows in Laguna and Metropolis in Iloilo.
Originally incorporated as Zipporah Mining and Industrial Corp., Sta. Lucia changed its primary purpose to that of a real estate company in 1996. Its portfolio consists of horizontal and vertical properties across the country, as well as its shopping mall in Cainta, Rizal.
Shares in the company gained two centavos or 2.53% to close at 81 centavos each on Thursday. — Daphne J. Magturo

Sta Lucia Land, Inc. 3rd Quarter 2014 Net Income Up By 112%

Sta Lucia Land Inc. (SLI) more than doubled its net income of P 426 Million for the 3 rd quarter of the year, 112% higher than its year-ago level of P 201 Million.

Gross revenues from real estate sales increased by 94% while accompanying cost and expenses grew by only 35%. The growth was mainly driven by robust sales in Bulacan, Davao and Iloilo and sales from over 36 other projects.

As a result, net income margin grew from 22% to just under 30%. “Our improvement in our financial performance is a reflection of our success in our strategy in providing quality residential projects outside Metro Manila which captures the broadbased economic growth of the country.”, says SLI EVP and CFO David dela Cruz. Moving forward, the Company will leverage its retail and commercial assets by building integrated communities around its already built and sold gated subdivisions, which when combined with the parent company, numbers to over 220 developments.

With this, the Company is on track to achieve its goals for the 2014. The Company also recently opened its new expansion mall called IL Centro which is located at the Sta Lucia East Grand Mall commercial complex and has a total gross floor area of 50,000 sqms.

Total combined gross leasable area of the company’s malls now add up to over 124,000 sqms.