Haus Talk, Inc. reported a 164 percent jump in revenues to P173.99 million in the first three quarters of last year from the P65.97 million registered in the same period of 2020.

In a disclosure to the Philippine Stock Exchange, the firm said its net income increased by 107 percent. It did not provide comparative figures for both 2021 and 2020.

The substantial rise in revenue was attributed mainly to its new projects in Antipolo and in San Pedro, Laguna which comprised 53 percent of HTI’s total sales. The remaining 47 percent came from the sale of units in HTI’s existing projects.

HTI said it was also able to secure its Licenses to Sell in 2020 for its new projects and this prompted its buyers to make full payments on their equity requirement.

Despite the challenges being faced due to the COVID-19 pandemic HTI President Maria Rachel D. Madlambayan said the company continues to show strong sales performance due to the consistent rise in demand for its products.

Based on data gathered, almost 100 percent of the company’s units in its new projects have already been committed to buyers.

HTI intends to use the P750 million proceeds from its recent initial public offering to continue its bullish approach towards corporate growth, further increasing profitability, and maintaining strong business fundamentals.

It said this will also include aggressive initiatives in carefully planning on entering into strategic partnerships and business ventures with leading players in the real estate development industry.

Net proceeds from the offering will be used mainly for land acquisition (P462.01 million), project development (P216.58 million), and for general working capital (P38.71 million).

"The IPO will allow us to expand our coverage and establish our brand in areas where the opportunities in the mid-market segment lie," said Madlambayan.