Deltamas City Cikarang Developer Owned By Conglomerate Eka Tjipta Widjaja Earns IDR 621 Billion In Revenue And IDR 389 Billion In Profit

Photo: Doc. Deltamas City

JAKARTA - The developer of Kota Deltamas from the Sinarmas Group owned by conglomerate Eka Tjipta Widjaja, PT Puradelta Lestari Tbk (DMAS) recorded a positive performance during the first quarter of 2022. DMAS revenue and net profit grew significantly in the first three months of this year, respectively.

In the first quarter of 2022, DMAS recorded operating revenues of IDR 621 billion or grew 16.3 percent. The industrial segment was the largest contributor with a value of Rp431 billion or around 69.4 percent of total operating revenues.

Followed by revenue from the commercial segment of IDR 176 billion or 28.4 percent. As well as income from the residential segment of Rp 9 billion or 1.4 percent of total revenue.

The contribution from the hotel and rental segment's operating revenues to total operating revenues was 0.4 percent and 0.3 percent, respectively.

"The company's operating income from the industrial segment mainly comes from the sale of industrial land to industrial customers from the data center sector," said DMAS Director and Corporate Secretary Tondy Suwanto, in an official statement, quoted Thursday 12 May.

Meanwhile, DMAS gross profit grew 45.9 percent to Rp447 billion in the first quarter of 2022. Tondy said, gross profit margin also increased to 72 percent from the previous 57.4 percent.

Along with gross profit growth, DMAS operating profit grew 49.3 percent to Rp382 billion with operating profit margin increasing to 61.5 percent compared to operating profit margin in the first quarter of 2021 of 47.9 percent.

As a result, DMAS posted a net profit of IDR 389 billion in the first quarter of 2022, growing 43.7 percent compared to the same period last year which was IDR 271 billion. The net profit margin was recorded at 62.7 percent, higher than the net profit margin in the same period in 2021 of 50.7 percent.

In terms of fundamentals, the total assets of DMAS as of March 31, 2022 were recorded at IDR 6.6 trillion, up 7.9 percent. Tondy said the increase in assets was mainly due to an increase in cash and cash equivalents.

"The cash and cash equivalent position of DMAS as of March 31, 2022 was IDR 1.06 trillion, up 76.9 percent compared to the position of cash and cash equivalents on December 31, 2021 of IDR 599 billion," said Tondy.