Eka Tjipta Widjaja's ITC Manager From Sinarmas Raised Revenue Of IDR2.17 Trillion And Profit Of IDR659.89 Billion In 2021

Photo: Doc. Sinar Mas Land

JAKARTA - Property developer from the Sinarmas Group owned by conglomerate Eka Tjipta Widjaja, PT Duta Pertiwi Tbk (DUTI), achieved revenue and profit growth in 2021. DUTI is known as an ITC shopping center developer.

In DUTI's financial report, quoted on Wednesday 6 April, the company recorded revenue of Rp2.17 trillion in 2021, an increase of 26.27 percent year on year (yoy) from Rp1.72 trillion in 2020. Duta Pertiwi recorded a profit for the year attributable to the owner of the parent entity amounted to Rp659.89 billion, an increase of 23.64 percent from the realization in 2022 of Rp533.73 billion.

"The solid sales performance stems from the high demand for the property units that we market," said Teky Mailoa, President Director of DUTI, in a press release, quoted Wednesday, April 6.

DUTI has four revenue segments namely Land Sales, Residential Houses, Shophouses and Strata Title Buildings; Rent; Hotels and; Etc.

The Land, Residential, Shophouse and Strata Title Sales Segment at the end of 2021 managed to achieve revenue of Rp. 1.60 trillion, growing 47.84 percent yoy from the previous Rp. 1.08 trillion. This segment contributed the most to total operating income, which was 73.63 percent.

The Rental Segment with revenues of Rp444.85 billion became the second largest revenue contributor with a portion of 20.43 percent of total operating revenues.

"We believe that the residential sales segment will make a positive contribution in the coming years. Both landed houses and apartments," added Teky.

Currently, DUTI has more than 1,280 hectares of undeveloped land bank, spread across Greater Jakarta and Surabaya.

Teky said the profit growth was also supported by the recording of profits from the acquisition of shares of subsidiaries amounting to Rp153.99 billion. As previously stated, in 2021, DUTI acquired PT Itomas Kembangan Perdana which is the developer of Aerium Apartement located in Taman Permata Buana, West Jakarta.

"We are optimistic that DUTI's positive performance will continue in 2022. Government support in providing incentives and improving economic conditions after the pandemic are positive factors," explained Teky.

Duta Pertiwi currently has real estate reserves (projects in progress) worth Rp3.75 trillion. According to Teky, sustainable value creation will support DUTI's performance in the future.