Property Developer Owned By Conglomerate Eka Tjipta Widjaja This Profit Soars 407 Percent In The First Quarter Of 2021

Illustrated. (Irfan Meidianto / VOI)

JAKARTA - The property company, PT Puradelta Lestari Tbk announced their performance during the January - March 2021 period. The achievement of the issuer coded as DMAS in that period grew triple digit.

Quoted from Puradelta's financial report published on the Indonesia Stock Exchange (IDX) website, Wednesday, April 28, the developer of the Kota Deltamas Cikarang area posted operating revenues of IDR 523.60 billion. This value jumped 395.77 percent compared to the achievement in the first quarter of 2020 which was valued at IDR107.63 billion.

In terms of revenue, sales posted the most significant increase of 420.16 percent on an annual basis (year-on-year / yoy) to IDR 528.75 billion. In this segment, sales of the company owned by the late conglomerate Eka Tjipta Widjaja were observed to have skyrocketed 852.87 percent yoy to IDR436.32 billion compared to the same period last year of IDR45.79 billion.

Furthermore, the housing sales of this Sinar Mas Group entity rose 456.53 percent yoy to IDR 91.55 billion from IDR 16.45 billion previously. Only commercial sales were corrected 97.76 percent to IDR 880 million.

Meanwhile, hotel revenue decreased by 8.43 percent yoy to IDR2.93 billion while rental income decreased by 31.04 percent yoy to IDR1.91 billion. The moncer income also brought Puradelta's profit by 407.36 percent to IDR 270.73 billion by the end of March 2021 from the previous IDR 53.36 billion.

However, Puradelta's total assets were recorded to have decreased 2.21 percent to IDR 6.60 trillion per first quarter of 2021 compared to the end of 2020 valued at IDR 6.75 trillion. This decrease was more due to a decrease in liabilities by 34.44 percent to Rp803.88 billion while equity still grew 4.89 percent to Rp5.79 trillion.

On the trading floor, DMAS shares appreciated 4.24 percent to Rp246 at the close of trading Wednesday, April 28.