Megaworld posts P13.5B net income in 9 months

Business.SunStar Graphics Business

MEGAWORLD Corp., the country’s pioneer developer of integrated urban townships, saw its consolidated revenues increase by 14 percent to P48.6 billion in the first nine months of the year.

It was driven by robust real estate bookings, leasing, and hotel operations during the period.

The company’s net income soared by 39 percent to P13.5 billion in the same period.

Real estate sales for the period increased by 11 percent year-on-year to P29 billion, which the company attributed to higher project completion rates.

The company is poised to exceed its year-end reservation sales target of P130 billion, with reservation sales in the first nine months of 2023 already growing by 28 percent to P109.5 billion.

This figure already represents 84 percent of the company’s yearend goal.

So far, the company launched P69.3 billion worth of projects this year.


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