Alam Sutera Realty, Property Developer Owned By The Ning King Conglomerate Earns Sales Of IDR 4.49 Trillion In 2022

Mall Alam Sutera. (Photo: Wikimedia Commons)

JAKARTA - The property company owned by conglomerate The Ning King, PT Alam Sutera Realty Tbk. (ASRI) recorded profit growth of up to 645.47 percent in line with the increase in revenue throughout 2022.

In ASRI's financial report, quoted on Tuesday, April 11, the company recorded sales, service and other business revenues of IDR 4.49 trillion throughout 2022. ASRI's top line performance increased 57.81 percent from IDR 2.84 trillion compared to the same period last year or year-on-year (YoY).

In detail, revenue from the real estate segment reached IDR 3.84 trillion, an increase of 58.09 percent, the hospitality and infrastructure service segment of IDR 506.81 billion, an increase of 25.82 percent, and the tourism segment reached IDR 10.43 billion, an increase of 595.99 percent.

The cost of goods sold, service income, and other businesses from ASRI reached IDR 1.86 trillion until the end of December 2022. This burden increased 39.18 percent from IDR 1.33 trillion YoY.

ASRI recorded a profit for the period attributable to owners of the parent entity of IDR 1.08 trillion in 2022. The profit rose 645.47 percent from IDR 145.69 billion in 2021.

As for the end of December 2022, ASRI recorded an asset amount of IDR 22.29 trillion. The asset decreased from IDR 21.93 trillion compared to the end of December 2021.

ASRI's total liabilities reached IDR 11.65 trillion as of December 31, 2022. This liabilities decreased from IDR 12.39 trillion as of December 31, 2021. Meanwhile, ASRI's total equity was IDR 10.64 trillion until the end of 2022, up from IDR 9.53 trillion compared to the end of 2021.

Then for cash and cash equivalents at the end of the year there was an increase of 45.11 percent from Rp991.03 billion to Rp1.43 trillion.

For information, ASRI posted pre-sales or marketing sales of IDR 3.2 trillion. This figure is up 9 percent compared to IDR 2.96 trillion in 2021.

In detail, sales from plots and commercial shophouses contributed the most, namely Rp1.71 trillion or 53.24 percent of total marketing sales. The sales of this segment increased 297 percent from Rp432 billion in 2021.

The commercial segment increased significantly mainly because the company managed to record commercial plot sales of IDR 1.6 trillion.

Next, sales from residential houses and land plots reached Rp1.23 trillion or the equivalent of 38.29 percent. Sales from the housing segment actually corrected 39.28 percent from the achievement of Rp2.03 trillion in 2021.