Haus Talk Inc., the publicly-listed real estate firm behind The Granary project in Laguna province, reported higher revenues and overall performance during its annual stockholders meeting.
HTI’s management team said consolidated revenues grew 44 percent, while gross profit improved 65 percent in the first half of 2023. This led to a 41-percent surge in net income after tax.
The financial report factored in the recent sales of affordable housing units from The Granary which started earlier this year.
“In keeping with our mission to provide homes that our buyers can be proud of, we came up with a timely and well-planned product that answers the call for residences that feature amenities usually found in the pricier developments south of Metro Manila,” said HTI president Maria Rachel Madlambayan.
The Granary embraces a 60/40 ratio that provides close to half of the land area dedicated to public and common use which creates a community with lower density compared to other similar projects.
Market response has been encouraging, and the company reported that it invested in new land acquisitions for additional projects beside The Granary.
This led to an increase of its asset base by 33 percent.
Previous areas eyed for HTI’s development projects included Metro Manila, Rizal and Laguna, but have since expanded with management’s intention of replicating the success of The Granary in other parts of Luzon.
“Our goal is to offer high-quality, affordable homes and we believe that Bataan is the next boom town. We will be expanding there very soon to answer the housing demands in Dinalupihan, proximate to Pampanga and Zambales, as well as Mariveles, with its export processing community,” Madlambayan said.
The development firm also adopted new building technology which allows for cost-efficient and reliable construction pace to turn over housing units to new owners faster.