BSD, Property Developer Owned By Conglomerate Eka Tjipta Widjaja This Profits Ramped 126 Percent In The First Quarter Of 2021

Illustration. (Photo: Doc. Antara)

JAKARTA - Property developer PT Bumi Serpong Damai Tbk (BSD) recorded performance growth in the first quarter of 2021. The net profit of this Sinar Mas Group business entity has even soared to triple digits.

Quoted from the financial statements of the issuer codenamed BSDE, on the information disclosure page of the Indonesia Stock Exchange (IDX), the company posted operating revenues of IDR 1.66 trillion. This realization increased by 11.58 percent on an annual basis (yoy) from the first quarter of 2020 valued at IDR 1.49 trillion.

The profit for the current year, which was attributable to the owner of the property holding company owned by the late conglomerate Eka Tjipta Widjaja, also shot up 126.57 percent yoy to Rp588.29 billion from Rp259.64 billion previously.

Judging from the revenue segment, only revenue from sales has increased. BSD sales were recorded at IDR 1.35 trillion per first quarter of 2021, an increase of 18.14 percent compared to the same period last year IDR 1.14 trillion.

Meanwhile, rental income still decreased by 24.33 percent yoy to IDR 173.14 billion. Likewise, hotel revenue fell 83.76 percent yoy to Rp1.88 billion, the recreation arena fell 72.05 percent yoy to Rp1.59 billion, and building management fell 30.83 percent yoy to Rp68.74 billion.

However, construction revenue was recorded at Rp.67.11 billion in the January-March 2021 period, which in the same period previously did not exist. Previously, BSD reported pre-sales or marketing sales revenue of IDR 2.5 trillion during the first quarter of 2021.

Bumi Serpong Damai Director Hermawan Wijaya said the realization was up 38 percent compared to marketing sales in the same period last year.

"Thus we have secured 35 percent of the pre-sale 2021 target of IDR 7 trillion," said Hermawan.

Meanwhile, the residential segment is the main motor for BSD pre-sales in the January to March 2021 period, such as the Kiyomi project at The Zora, Virginia Arcade and TabeSpots in BSD City, Lyndon and Marigold in Nava Park, Miami in Kota Wisata, and Lumihous in Legenda Wisata.