Revenues from January to March 2020 reached P1.2 billion, 21% more than last year’s P985 million on account of higher real estate sales and revenues from warehouse leasing, ALLHC said in a regulatory disclosure.
Industrial lot sales registered P351.3 million in revenues for the first three months of 2020, which grew by 112% versus the P165.4 million revenues in the same period last year due to higher area of lot sold. As of last March, landbank was at 267 hectares.
Revenues from warehouse leasing rose 45% to P109.2 million from P75.3 million in 2019.
Commercial leasing revenues, on the other hand, remained relatively flat at P185.7 million compared to revenues of P181 million in the first quarter of 2019 from impact of the government-mandated enhanced community quarantine which started mid-March 2020 to stop spread of the coronavirus disease.
Cost and expenses rose 12.3% to P930.221 million from P828.105 million last year. Capital expenditures for the first quarter of the year amounted to P303.1 million.
ALLHC, a subsidiary of Ayala Land, Inc., have principal business interests in holding companies, commercial leasing, industrial lot sales and development, and retail electricity supply. Its subsidiaries include Laguna Technopark, Inc., Unity Realty Development Corporation, Orion Land, Inc., Tutuban Properties, Inc., LCI Commercial Ventures, Inc., and FLT Prime Insurance Corporation.
