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Manila Bulletin devider Business devider The Stock Market devider Vista Land gets triple-A rating from CRISP

Vista Land gets triple-A rating from CRISP

Published Sep 21, 2023 09:10 am

Credit Rating and Investors Services Philippines Inc. (CRISP Ratings) has reaffirmed its “AAA” issuer rating with a stable outlook on real estate tycoon Manuel B. Villar's Vista Land and Lifescapes Inc. (VLL).

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The highest rating was given based on the firm’s market leadership in property development with a nationwide presence in 147 cities and municipalities in 49 out of 82 provinces in the country.  

VLL has built a landbank of over 3,000 hectares, allowing the company strategic flexibility in extending its reach throughout various segments of the property market nationwide.  

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Vista Land Chairman Manuel B. Villar Jr. inspects the company's landbank

CRISP said the firm is fully engaged in vertical housing, which smoothly combines with its established horizontal housing development through its integrated strategy that maximizes synergy with VLL’s commercial and retail affiliates.

In a bold move last year, VLL quadrupled its investment with over P40 billion worth of projects in upscale, vertical, and commercial projects in 2022. VLL’s projects provided the property development company a commanding presence nationwide.

CRISP said its rating was also given due to VLL’s strong profitability as it has consistently posted robust return-on-equity above 6.2 percent during the pandemic years 2020 to 2022, with the last 12-month period ending June 30, 2023, registering at 8.1 percent.  

Likewise, VLL’s earnings before interest, taxes, depreciation and amortization (EBITDA) margins showed a consistently strong trajectory, averaging 50.9 percent during the pandemic years 2020-2022.  

VLL’s EBITDA during the most recent 12-month period ending June 30, 2023, stood at 59.4 percent. During this same period, VLL’s net margin showed a strong performance at 28 percent with P5.8 billion in net income, compared to P3.1 billion in 2022. 
 

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Manuel B. Villar Jr. Vista Land & Lifescapes Inc. Credit Rating and Investors Services Philippines Inc. (CRISP Ratings)
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