Megaworld Corp. grew its profit by 39 percent in the first nine months of the year to P13.5 billion from P9.7 billion in the same period last year.
Revenues went up 14 percent to P48.6 billion from P42.63 billion.
“We are optimistic that we will reach our record revenues by the end of the year across our businesses as we continue to capture opportunities within and beyond Metro Manila,” said Kevin Tan, chief executive officer, Alliance Global Group, the parent company of Megaworld.
Megaworld said real estate sales for the period grew 11 to P29.0 billion from P26.13 billion.
The company said it is set to exceed its P130 billion yearend reservation sales target, with reservation sales for the first nine months now at P109.5 billion, 84 percent of target.
“So far, the company launched P69.3 billion worth of projects this year, with three big projects being rolled out in the third quarter alone. These include Uptown Modern in Uptown Bonifacio, Taguig City with P29 billion worth of inventory; Laurent Park in Manhattan Garden City, Quezon City with P6.5-billion worth of inventory; and Kensington Sky Garden in Upper East, Bacolod City with P2.5 billion worth of inventory,” it said.
“We still have projects to be launched before the year ends,” added Tan.
Leasing revenues rose 17 percent to P13.3 billion.
