Sta. Lucia Land of bilyonaryo Exequiel Robles grew its six-month net income by 36 percent to P1.95 billion, driven by higher real estate sales and rental income.
With its continued expansion across the country, the company reported a 36 percent jump in real estate sales to P4.42 billion.
“Coping up with the effect of the pandemic, the group was able to increase its real estate sales through the efforts of its marketing arms as well as the deployments of its sales force with the curtailment of the quarantine protocols implemented by the government,” Sta. Lucia said.
The company said commercial operations continued to improve.
Rental income rose six percent to P289 million from last year’s P273 million.
Sta. Lucia said the increase in rental income was primarily due to the curtailment of government restrictions which resulted to improved foothold traffic in its mall in Cainta, Rizal.
The company derives its real estate revenue from sale of lots, house and lot and condominium units, while rental income comes from operating leases on investment properties.