Already 23 Percent Of The 2024 Target, Lippo Cikarang Records Marketing Sales Of IDR 325 Billion

Rupiah (Photo: Antara)

JAKARTA PT Lippo Cikarang Tbk (LPCK) recorded a pre-sale value of IDR 325 billion in the first quarter of 2024. This achievement is 23 percent of the Company's target for 2024 of IDR 1.44 trillion.

Pre-sales in the first quarter of 2024 were driven by strong demand for residential projects, especially landed housing products and shophouses with a contribution of 77 percent and 15 percent respectively.

The main products for the Company's landed house are the XYZ Livin cluster products, Cendana Spark, Cendana Spark North and Waterfront Estates @Uptown. During the first quarter of 2024, the Company has succeeded in selling 441 units of residential, industrial and commercial projects.

The President Director of LPCK, Ketut Budi Wijaya stated that LPCK is optimistic that there are still many growth opportunities in the property industry.

"The company has succeeded in achieving pre-sales of 23 percent of the pre-sales target in 2024. Due to the increase in demand for affordable housing, we introduce XYZ Livin products that are suitable for the younger generation," he said, citing information disclosure, Saturday, April 27.

He said he would continue to introduce new products in the next quarter to meet market demand. "We are also committed to continuing development in order to hand over on time to our consumers," he explained.

Meanwhile, if you look at the financial statements, the Company's total revenue is IDR 435 billion in the first quarter of 2024, or an increase of 175 percent from the first quarter of 2023. This is supported by an increase in handover to landed houses and shop houses to consumers and higher industrial land income.

In the first quarter of 2024, the Company's main revenue comes from the handover of landed housing, commercial or shophouse units, industrial land and non-property income from the management of the city of Lippo Cikarang. The housing projects handed over to the first quarter of 2024 include Waterfront Estates @Uptown, as many as 230 units and shophouse The Hive @Uptown.

The Company's gross profit was also recorded positive of Rp168 billion with a gross profit margin that can be maintained at a healthy level of 39 percent during the first quarter of 2024. This is the financial report for the first quarter of 2024 which ends on March 31, 2024, as announced by the Company.

The management of PT Lippo Cikarang Tbk explained that in the first quarter of 2024, the Company's EBITDA could still be maintained positive at IDR 103 billion or 24 percent of revenue.

In addition, net profit was recorded at IDR 60 billion. The company recorded a significant increase in net profit when compared to the first quarter of 2023 where the Company recorded a loss of IDR 7 billion.