PT Puradelta Lestari Tbk Booked Revenues of Rp655 Billion in the First Nine Month Period of 2020
CIKARANG, October 27, 2020 –PT Puradelta Lestari Tbk and Subsidary (“the Company”), property developer of modern industrial
estate of Kota Deltamas, recorded revenues of Rp655 billion and net profit of Rp302billion in the first nine month period of 2020.
From the total revenues, industrial segment contributed the most with revenues of Rp538 billion or around 82.1% from total revenues, followed by commercial segment with revenue of Rp65 billion or 9.9% from total revenues and residential segment with revenue of Rp36 billion or 5.5% from total revenues. Hotel segment and rental segment each contributed Rp9.8 billion and Rp6.6 billion, respectively.
The industrial segment still becomes the backbone of the Company’s business, whereas the industrial segment revenues are obtained
from industrial land sales of GIIC (Greenland International Industrial Center) industrial estate in Kota Deltamas, which offers fullequipped and comprehensive facilities and infrastructures, and has been an investment target by global industrial players since the
past decade.
The revenues and net profit results were lower than the revenues and net profit in the first nine month period of the previous year of Rp1.27 trillion and Rp759 billion, Tondy Suwanto, Director of the Company, implies that lower revenue recognition in the first nine month period of 2020 was due to high base of revenue recognition in the same period of previous year, and a respectable amount of sales backlog that has not been recorded as revenues in the first nine month period of this year. “In 2019, there was revenue recognized from commercial land sales which leads to high revenue base on that period,” explain Tondy Suwanto. “On the other
hand, in the remaining fourth quarter, there is a large sales backlog that is expected to be recorded as revenues,” added him.
The Company itself managed to achieve marketing sales of Rp1.38 trillion in the first nine month period of 2020, whereby most of
the marketing sales result has not been recorded as revenues in the first nine month period of 2020 and remains as sales backlog.
“The sales backlog will be recognized as revenues when the Company hands over the land to its customers, and most of the sales backlog is expected to be handed over in the last quarter this year, and thus they are expected to be recognized as the Company’s
revenues in 2020,” added him.
The Company booked gross profit and net profit of Rp427 billion and Rp302 billion, respectively, lower than the gross profit and net profit in the first nine month period of the previous year of Rp825 billion and Rp759 billion, in line with lower revenues if compared to the same period last year.
From the fundamental side, total assets of the Company as of September 30, 2020 was Rp6.98 trillion, 8.4% lower than total assets of
the Company as of December 31, 2019 of Rp7.62 trillion. Tondy Suwanto explains that the declining assets compared to the asset position at the end of 2019 was mainly due to by cash dividend distribution to the shareholders of Rp1.01 trillion on May 12, 2020 that impacted to the declining cash and cash equivalent. Tondy Suwanto further explains that the Company currently does not have any debt. With healthy net cash position, the Company strives to develop Kota Deltamas to realize Kota Deltamas as the most advanced
integrated township at east of Jakarta.
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 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 in Indonesia & English, click in here