PT. Ciputra Development Tbk Record Total Revenue Rp6, 4 Trillion

By : Herry Barus And Aldo Bella Putra | Thursday, March 29 2018 - 19:00 IWST

Candra Ciputra, Presiden Direktur PT. Ciputra Development Tbk. (IST)
Candra Ciputra, Presiden Direktur PT. Ciputra Development Tbk. (IST)

INDUSTRY.co.id - Jakarta - PT. Ciputra Development Tbk or CTRA recorded total revenues of Rp6.4 trillion in 2017, down 4% compared to Rp6.7 trillion in 2016.

Acquisition of the recurring income segment that includes shopping centers, hotels, office rentals and hospitals reached Rp1.7 trillion, or grew 7% compared to the same period in 2016. Revenue from shopping centers rose by 1% to Rp763 billion. Revenue from the hotel rose 17% to Rp480 billion. Rental office revenue increased 15% to Rp132 billion. Overall, this recurring revenue segment contributed 27% of total revenue in 2017.

The revenue from the property development segment includes residential houses, shophouses, land, apartments and office buildings recorded at Rp 4.7 trillion, down 8% compared to Rp5.1 trillion in 2016. Recognition of a longer income by 12% to Rp3.4 trillion from the same period in 2016.

Based on these performances, CTRA's net profit in 2017 reached Rp894 billion during 2017, or decreased by 12% from 2016. This was more due to timing differences over sales recognition. Thus, CTRA is optimistic that net income in 2018 will rise in line with the increase in sales recognition.

Optimism about achieving better financial performance in 2018 also takes into account the backlog that exists today. This can be seen from the achievement of marketing sales in the first two months that has reached Rp1, 0 trillion, from the total target this year of Rp7, 7 trillion.

"That is certainly a good indicator because there is an 18% growth compared to the same period last year. We are optimistic to achieve this year's target by considering several things, such as the diversity of products, geographical coverage, and strong brands," said CTRA President Director Candra Ciputra.

During 2017 CTRA launched four new residential projects namely Barsa City Yogyakarta, CitraLand Cibubur, CitraLand Tallasa City Makassar, and CitraPlaza Nagoya Batam. This is expected to strengthen CTRA's position in the national property business scene and provide benefits to the local economy.

News Comment

Today's Industry

Gov provided several incentives for encourage more people to buy electric cars

Selasa, 28 November 2023 - 22:03 WIB

Government Incentives for Encourage People to Buy Electric Cars

Deputy Minister of Trade, Jerry Sambuaga attended the Inbuyer Electric Vehicle (EV) Expo 2023 which took place in Jakarta, Tuesday (28 Nov). In his remarks, the Deputy Minister of Trade said…

Trade Minister Reviews Bapok Prices in Pasar Baru, Gresik, East Java

Selasa, 28 November 2023 - 21:55 WIB

Trade Minister Reviews Bapok Prices in Pasar Baru, Gresik, East Java

Minister of Trade, Zulkifli Hasan reviews prices of basic necessities (bapok) at Pasar Baru, Gresik, East Java, Tuesday (28 Nov). This review is the government's anticipation in facing Christmas…

Minister of Trade, Zulkifli Hasan visited the construction of the PT Freeport Indonesia Smelter in Gresik, East Java

Selasa, 28 November 2023 - 21:50 WIB

Minister of Trade, Zulkifli Hasan visited the construction of the PT Freeport Indonesia Smelter in Gresik, East Java

Minister of Trade, Zulkifli Hasan visited the construction of the PT Freeport Indonesia Smelter in Gresik, East Java, Tuesday (28 Nov). The Minister of Trade said that the construction of this…

Opening Ceremony of OCTF 2023

Selasa, 28 November 2023 - 21:46 WIB

Increased by 156%, The value of Chinese investment in Indonesia Will Reach USD8.2 billion

Deputy Minister of Trade, Jerry Sambuaga gave a speech at the 3rd Opening Ceremony of the OCTF 2023 Intelligent Technology Exhibition which was held at JIEXPO Kemayoran, Jakarta, Tuesday (28…

Indonesia Showcases Premium Halal Products in Turkey

Selasa, 28 November 2023 - 21:33 WIB

Indonesia Showcases Premium Halal Products in Turkey

Indonesia has once again showcased its premium halal products at the world's largest international halal exhibition, the 10th Halal Expo 2023, organised by the Organization of Islamic Cooperation…