Haus Talk Q3 net profit more than doubles to P313 million on Antipolo project sales

Listed property developer Haus Talk, Inc. reported third-quarter attributable net income of P313.44 million, more than double the P138.32 million a year earlier, driven by a 96.3% surge in real estate sales to P1.18 billion. The company attributed the jump mainly to a newly launched project in Antip

Listed property developer Haus Talk, Inc. (HTI) reported that its attributable net income more than doubled to P313.44 million in the third quarter from P138.32 million a year earlier, according to its quarterly financial report filed with the Philippine Stock Exchange. Real estate sales rose 96.3 per cent to P1.18 billion from P599.29 million, which the company attributed mainly to sales from a newly launched project in Antipolo, alongside continued sales and revenue recognition from its other residential developments.

Gross profit increased 83.2 per cent to P520.86 million from P284.25 million, while the cost of real estate sales more than doubled to P660.04 million from P317.83 million, reflecting higher project development and construction costs tied to the increased volume of recognised sales. Selling expenses climbed to P80.71 million from P33.80 million, driven by higher commissions, advertising and marketing expenses, and other selling-related costs.

General and administrative expenses rose 60.2 per cent to P117.34 million from P73.25 million, mainly due to higher personnel costs, professional fees, taxes and licences, and other administrative expenses. Net operating income increased 82.2 per cent to P322.81 million from P177.20 million, while income before tax rose 80.8 per cent to P300.94 million from P166.41 million. Income tax expense declined 76.8 per cent to P2.23 million from P9.63 million, which HTI attributed to available tax incentives and tax credits, as well as deductible expenses recognised during the period.

Consolidated net income rose 90.5 per cent to P298.71 million from P156.78 million a year earlier. For the first nine months of the year, attributable net income increased 29 per cent to P366.24 million from P283.84 million in the same period last year, while nine-month real estate sales rose 25.8 per cent to P1.51 billion from P1.20 billion. Consolidated net income for the nine-month period increased 18.8 per cent to P359.42 million from P302.66 million.

Haus Talk develops residential real estate projects. HTI shares fell 0.7 per cent to P1.41 apiece on Monday.