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Manila Bulletin devider Business devider The Stock Market devider Vista Land profits rise with stronger sales, lower expenses

Vista Land profits rise with stronger sales, lower expenses

Published May 8, 2025 12:45 pm
Villar-led Vista Land & Lifescapes, Inc., one of the Philippines’ leading integrated property developers, posted an 11 percent growth in net income to ₱9.36 billion last year from ₱8.45 billion in 2023 due to higher real estate sales and lower expenses.
In a disclosure to the Philippine Stock Exchange, the country’s largest homebuilder said revenue from real estate sales increased nine percent to ₱16.63 billion in 2024 from ₱15.23 billion in 2023.
“This was primarily attributable to the increase in the overall completion rate of sold inventories of some of its business units as well as the recognition of the significant financing component for the period,” Vista Land said.
Rental income improved by four percent from ₱16.02 billion in 2023 to ₱16.61 billion in 2024, primarily attributable to the increase in rates for the year.
Parking, hotel, mall administrative and processing fees and others decreased by 20 percent from ₱2.11 billion in 2023 to ₱1.69 billion last year primarily due to the significant decrease in forfeitures.
Interest income increased by 12 percent from ₱1.81 billion in 2023 to ₱2.03 billion last year because of higher interest received from investments at amortized costs at 46 percent increase to ₱1.76 billion which was offset by the 54 percent decrease in interest income from installment contracts receivable to ₱277 million as majority of the Company’s buyers are availing of mortgage financing.
Gross profit increased by 30 percent from ₱9.12 billion in 2023 to ₱11.83 billion last year primarily due to the increase in the sales for the period coupled with a 20 percent decrease in the cost of sales for the year as we took advantage of the various cost saving initiatives as well as cleanup of remaining set up of estimated land development cost of completed projects.
Operating expenses decreased by eight percent from ₱11.6 billion in 2023 to ₱10.69 billion in 2024 with decreases in provision for impairment losses and repairs and maintenance for the year.
Interest and other financing charges increased by 73 percent from ₱5.69 million in 2023 to ₱9.83 billion for the year in 2024 as a result of the lower capitalization for the year as part of the full adoption of the PAS 23 on borrowing costs.

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Vista Land & Lifescapes Inc. Manuel B. Villar Jr.
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