Sta. Lucia Land (SLI), led by bilyonaryo Exequiel Robles, reported robust profit growth in the first quarter of the year, buoyed by higher real estate sales and rental income.
During the January to March period, SLI posted a net income of P1.26 billion, up 12 percent from the previous year’s P1.13 billion as revenues grew 17 percent to P3.57 billion.
The company’s real estate sales experienced a 12 percent upswing, reaching P3.02 billion, fueled by intensified marketing efforts and heightened market demand for properties located in areas where SLI’s developments are situated.
By actively promoting the group’s product offerings, SLI succeeded in attracting more customers and expanding its real estate sales.
SLI witnessed a 79 percent surge in rental income, reflecting the company’s efforts in leasing out properties and generating rental revenue.
The notable growth in rental income can be attributed to the improved foot traffic in the mall and tenant mix.