Ayala Land Inc. is looking at doubling its profit by 2028 from its 2022 bottomline on optimistic prospects going forward.
Augusto Bengzon, Ayala Land chief finance officer, said the company is looking to augment its planned capital spending with fund raising activities in the market.
Bengzon did not elaborate but said the capex “will be quite aggressive so we will tap the market.”
“Our aspiration is to double the business in five years so you can expect more this year compared to last year,” he said.
Anna Margarita Dy, Ayala Land president, said the company closed 2023 “on a high note.”
“The country as a whole was better than 2022. Our performance also reflects that,” Dy said, adding that Ayala Land is “doing much better in post-pandemic year.”
Last year, Ayala Land allocated P85 billion as capex after closing 2022 with a profit of P18.62 billion over revenues of P126.56 billion.
The company was eyeing to launch about P100 billion-worth of residential projects. It also looked to launch four estate development to bring its estate portfolio to 54.
