Haus Talk earnings surge in first half

Niche real estate player Haus Talk Inc. (HTI) reported a 430 percent jump in consolidated net income to P80.21 million in the first half of 2022 from the P16.09 million earned in the same period last year.

In a disclosure to the Philippine Stock Exchange, the firm highlighted its significant financial growth and footprint expansion as it continued to develop its key projects in and around Luzon.

It added that, “The growth comes from revenue realized from completed projects in Metro Manila, Antipolo, and Laguna.” Semi-annual consolidated revenues for 2022 climbed 335 percent to P385.72 million from P88.77 in the same period last year.

HTI President Maria Rachel D. Madlambayan said she is optimistic about the company’s continued strong performance, especially as the country’s economy hits its stride back to pre-pandemic levels in terms of property development and demand.

“With restrictions easing up further, we anticipate efficient and better builds wherever our projects are located,” she noted.

Madlambayan added that, “Our marketing and sales team have also seen an increase in interest as buyers have come to realize the importance of investing in their own home, having spent more time in their house during the pandemic.”

HTI has launched The Celestis, a P500 million middle-class housing project in the Antipolo area that should generate another 100 residential units by its completion in 2023. The development is expected to add another P200 million in earnings for the group.

The firm also launched the 50 Jocson Residences Project, its high-end horizontal project located in Brgy. Loyola Heights, Quezon City where seven high-end residential units with an average floor area of two hundred eighty six square meters per unit will be built.

The firm expects the development to generate around P325 million in revenues from the sale of the units with profits expected at P108 million. Selling of units started in the first quarter of the year with project completion by the end of 2023.

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The article was originally published in Manila Bulletin and written by James A. Loyola.