BSD, Property Company Owned By Conglomerate Eka Tjipta Widjaja Raise Revenue Of IDR 3.25 Trillion And Profit Of IDR 680 Billion In Semester I 2021

Illustration. (Photo: Doc. Sinar Mas Land)

JAKARTA - Property developer PT Bumi Serpong Damai Tbk alias BSD posted a surge in performance during the first six months of this year. The revenue and profit of the BSDE stock coded issuer grew significantly in the first semester of 2021.

In BSD's financial report published on the information disclosure page of the Indonesia Stock Exchange (IDX), the operating profit of the property member from Sinar Mas Land jumped 145.53 percent to IDR 1.2 trillion. The achievement of the company owned by the late conglomerate Eka Tjipta Widjaja grew significantly compared to the same period in 2020 amounting to Rp488.74 billion.

The operating profit was driven by the growth of BSD's operating income during the first six months reaching Rp3.25 trillion. This figure is up 38.89 percent when compared to the same period last year of Rp. 2.34 trillion.

If detailed, BSD's operating income is divided into several segments, namely first, sales of land, buildings and strata title in the first semester of 2021 amounting to IDR 2.57 trillion or growing 46.86 percent year on year.

Second, the rental segment amounted to Rp365.32 billion, down 12.47 percent year-on-year (yoy). Third, the construction segment recorded Rp151.47 billion in the first semester of 2021.

The growth in operating income made BSD's gross profit rose 36.87 percent to Rp. 2.19 trillion, while in the first half of 2020 it was Rp. 1.60 trillion. Meanwhile, BSD's operating expenses recorded a decrease in operating expenses to Rp. 1.07 trillion, when in the first semester of 2020 it was recorded at Rp. 1.12 trillion.

As a result, BSD achieved a net profit of IDR 680 billion in the first semester of 2021. This figure skyrocketed by 254.17 percent compared to net profit in the first half of 2020 which was only worth IDR 192 billion.