LISTED property developer Haus Talk, Inc. (HTI) plans to acquire two properties in Batangas covering approximately 16 hectares (ha) for residential developments that could add more than 1,500 housing units to its pipeline.
The proposed acquisitions include a 9.93-ha property in Barangay San Roque, Santo Tomas, intended for economic and socialized housing under Batas Pambansa Blg. 220, the company said in a statement on Tuesday.
The second property, covering approximately six hectares in Barangay San Rafael, Malvar, is intended for mid-market housing under Presidential Decree No. 957.
HTI said construction of the proposed developments is scheduled to begin within the next three to five years.
The projects would expand the developer’s operations in Southern Luzon, where it has residential developments in Rizal, Laguna, and Cavite. The company also has projects in Metro Manila.
HTI Head for Corporate Planning and Investor Relations Francis R. Madlambayan said the proposed developments were part of the company’s efforts to expand its residential portfolio.
The company reported attributable net income of P313.44 million for the third quarter, more than double the P138.32 million recorded in the same period last year.
Real estate sales rose 96.3% to P1.18 billion from P599.29 million, which HTI attributed to sales from a newly launched project in Antipolo and continued revenue recognition from existing residential developments.
Gross profit increased 83.2% to P520.86 million, while consolidated net income rose 90.5% to P298.71 million.
For the first nine months, attributable net income increased 29% to P366.24 million from P283.84 million a year earlier.
Real estate sales for the nine-month period rose 25.8% to P1.51 billion.
HTI reported total assets of P9.74 billion as of end-September.
Shares in HTI fell 2.82%, or four centavos, to close at P1.38 apiece on Tuesday. — Juliana Chloe A. Gonzales