Real estate development firm Haus Talk, Inc. said Tuesday its net income increased 23 percent to P242.6 million in 2023 from P138.1 million in 2022 on prudent investments and the successful execution of various projects initiated two years ago.
Consolidated revenues also surged 58 percent, which underscores the company’s expansion and strategic initiatives undertaken over the past year.
HTI head of corporate planning and investors relations Francis Madlambayan said The Granary drove the impressive financial results last year.
The Granary in Binan, Laguna is an economic housing project that integrates fine townhome features and community master-planning within affordable housing schemes. It is a Haus Talk formula that has had great success in Antipolo and other parts of Laguna.
“With the numbers exhibiting positive returns not only for HTI and especially our shareholders, we are even more confident now to launch projects in other locations where housing is needed by the market,” Madlambayan said.
HTI stands to benefit from Board of Investments (BOI) incentives, including an income tax holiday for the second phase of The Granary development.
These incentives, catering to expanding developers of economic housing projects, encompass three years of 25 percent income tax savings and 12 years of duty exemption on capital equipment importation.
These will bolster HTI’s capacity for further investment and growth.
Madlambayan underscored the significant impact of HTI’s IPO on their strategic initiatives, resulting in substantial increases in revenue, income, and a notable 17 percent growth in assets for the fiscal year 2023.
The robust foundation would serve as a catalyst for HTI’s expansion endeavors, he said.
HTI’s performance aligns with the broader imperative of addressing the nation’s backlog of 6.5 million homes, predominantly needed by low-income families.