PT Puradelta Lestari Tbk Achieved Revenues of Rp1.31 Trillion in the First Nine Months of 2021
CIKARANG, October 27, 2021 –PT Puradelta Lestari Tbk and Subsidiary (“the Company”), property developer of modern industrial estate of Kota Deltamas, recorded revenues of Rp1.31 trillion in the first nine months of 2021. This revenues was doubled than the Company’s revenues in the first nine months of 2020 of Rp655 billion.
Tondy Suwanto, Director and Corporate Secretary of PT Puradelta Lestari Tbk, explains that the industrial segment accounts for the largest contribution to the Company’s revenues. “Revenues from industrial segment in the first nine months of 2021 was Rp1.14 trillion or around 87.5% from total revenues,” said Tondy Suwanto. “Residential segment contributed revenues of Rp110 billion or 8.4% from total revenues,” added him. Furthermore, revenue contributions from commercial, hotel, and rental segments to the total revenues are 3.0%, 0.6%, and 0.4% respectively. The Company booked gross profit of Rp740 billion, higher than the gross profit in the same period of the previous year of Rp427 billion. The Company booked gross profit margin of 56.6%.
The Company booked operating profit of Rp593 billion, higher than the operating profit in the same period of the previous year of Rp285 billion. The Company booked operating profit margin of 45.4%, slightly higher than the operating profit of the first nine months of 2020 of 43.5%. Increasing operating profit margin was mainly due to decrease of the general and administrative expenses in the first nine months of 2021 compared to the same period last year of 27.4%.
The Company booked other incomes (net) of Rp53 billion whereby the largest contribution came from gain on estate management operations and others (net) of Rp65 billion. The Company booked profit before tax of Rp646 billion, or higher than profit before tax in the same period of the preceding year of Rp311 billion. The Company booked net profit of Rp635 billion, or grew by 109.8% compared to net profit in first nine months of 2020 of Rp302 billion. Net profit margin is recorded at 48.5%, higher than the net profit margin of the same period last year of 46.2%.
From the fundamental side, total assets of the Company as of September 30, 2021 was Rp6.50 trillion, 3.7% lower than total assets of the Company as of December 31, 2020 of Rp6.75 trillion. Decrease of total assets was mostly caused by decrease of cash and cash equivalent. Cash and cash equivalent of the Company as of September 30, 2021 was Rp1.26 trillion, 8.6% lower than net cash position as of December 31, 2020 of Rp1.38 trillion.
Tondy Suwanto explained that decrease of cash and cash equivalent was in consequence of cash dividend distribution. “The Company distributed cash dividend to the shareholders amounting to Rp313 billion in June 2021,” said Tondy Suwanto. Total liabilities of the Company as of September 30, 2021 was Rp685 billion, approximately 44.1% lower than total liabilities of the Company as of December 31, 2020 of Rp1.22 trillion. Decrease of total liabilities was mainly due to decrease of contract liabilities, both current and noncurrent, of Rp509 billion or around 52.5%. Total equities (net) as of September 30, 2021 increased around 5.2% to Rp5.82 trillion compared to the total equities (net) as of December 31, 2020 of Rp5.53 trillion.
The Company does not have any debt. With healthy net cash position, the Company strives to develop Kota Deltamas to realize Kota Deltamas as an integrated township at east of Jakarta by combining industrial, residential, and commercial estates.
PT Puradelta Lestari Tbk at a Glance
PT Puradelta Lestari Tbk is an integrated township developer of Kota Deltamas, located in Central Cikarang, with total development area up to around 3,200 hectares. Kota Deltamas is a prime township at east of Jakarta with strategic location, wide land bank, direct toll access, and equipped with comprehensive facilities and infrastructures.
PT Puradelta Lestari Tbk. continues to develop its world class infrastructures to support its self-sustained integrated township, consists of iindustrial, residential, and commercial area, and extend its facilities to assure life quality of all workforce in the industrial area, residents, and its surrounding community. New facilities will continue to emerge in the township, including education institutions, serviced apartment, and commercial centre development plan in Kota Deltamas. In addition, Kota Deltamas is equipped with proper estate management, including assurance of security, clean environment, and convenience, as well as comprehensive master plan.
Majority and controlling shareholders of PT Puradelta Lestari Tbk are PT Sumber Arusmulia (57.28%), which is part of Sinar Mas Land, prominent developer in Indonesia, and Sojitz Corporation (25.00%), a Japanese general trading company with network in over 50 countries in the world.
Release (Bahasa Indonesia & English), click in here.