PT Puradelta Lestari Tbk Booked Revenues of Rp224 billion in the First Quarter of 2023

CIKARANG, April 28, 2023 –PT Puradelta Lestari Tbk and Subsidiary (“the Company”), property developer of modern integrated industrial township of Kota Deltamas, recorded revenues of Rp224 billion in the first quarter of 2023. In addition, net profit of the Company in the first quarter of 2023 amounted Rp115 billion.

The industrial segment became the main contributor to the Company’s revenues with a contribution of Rp170 billion or around 75.8% of the Company’s total revenues. The commercial segment contributed Rp44 billion or 19.5% of the Company’s total revenues. The contributions from the residential, hotel and rental business revenues to total revenues amounted to 2.3%, 1.2% and 1.2% respectively.

“The Company’s revenues from the industrial segment mainly came from industrial land sales to the tenants from data center sector,” said Tondy Suwanto, Director and Corporate Secretary of the Company.

The company posted a gross profit in the first quarter of 2023 of Rp156 billion. The Company’s gross profit margin was 69.6%, slightly contracted compared to the gross profit margin in the same period the previous year of 72.0%. Meanwhile, the Company recorded an operating profit in the first quarter of 2023 of Rp118 billion, with an operating profit margin of 52.9%.

The company recognized other incomes in the first quarter of 2023 of Rp47 billion, grew by 285% compared to the first quarter of 2022 of Rp12 billion. The spike in the other incomes was mainly due to an increase in gain on estate management operations and others (net) to Rp47 billion in the first quarter of 2023 from Rp21 billion in the first quarter of 2022.

The Company’s profit before tax in the first quarter of 2023 was recorded at Rp166 billion, with a margin to total revenues of 74.1%, higher than the profit before tax margin to revenues in the first quarter of 2022 of 63.5%.

Finally, the Company booked net profit in the first quarter of 2023 of Rp155 billion, with a recorded net profit margin of 69.5%, higher than the net profit margin in the same period in 2022 of 62.7%

From a fundamental standpoint, the Company’s total assets as of March 31, 2023 were recorded at IDR 6.84 trillion, an increase of Rp215 billion or 3.3% compared to the Company’s assets as of December 31, 2022 of Rp6.62 trillion, where the increase in assets was mainly due to an increase in inventories, both current and and non-current, amounting to Rp98 billion, and an increase in cash and cash equivalents amounting to Rp75 billion.

Meanwhile, the Company’s total liabilities as of 31 March 2023 were recorded at Rp959 billion, Rp60 billion higher or around 6.7% compared to the Company’s total liabilities as of 31 December 2022 which amounted to Rp899 billion. The increase in liabilities was mainly due to an increase in trade payables of Rp56 billion. Total (net) equity as of March 31, 2023 increased by around 2.7% to Rp5.88 trillion compared to total equity (net) as of December 31, 2022 of Rp5.72 trillion.

The company has no debt. With a healthy net cash position, the Company continues to strive to develop Kota Deltamas to realize Kota Deltamas as a modern integrated area in east Jakarta by combining industrial, residential and commercial areas.

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 industrial, 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 center 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.