PP Property Targets Increasing Net Income of 19 Percent by the End of 2018

INDUSTRY.co.id - Jakarta - PT PP Properti Tbk (PPRO) until the end of 2018 targets net profit of around Rp. 520 billion, an increase of 19 percent compared to the same period of the previous year.

"We are targeting a net profit of around Rp. 520 billion. The production process from the owned landbanks continues to be boosted to achieve the target," said PPRO President Director, Taufik Hidayat at the Indonesia Stock Exchange Building, Jakarta, Wednesday (9/29).

He explained, from the marketing side, the company cooperated with banks to increase sales, including PT Bank Mandiri Tbk (BMRI) through the ELECTION program (Choice of Your Apartment Loans), with this program consumers will get KPR cost subsidies as well as a fast credit approval process.

Then with PT Bank Tabungan Negara Tbk (BBTN) the SUPER program was launched (Simpel Untung Promo and Extra Reward), where consumers can apply for a down payment of 5 percent and interest starting at 4.68 percent.

"Until the first half of 2018, the company's marketing sales have reached IDR2.49 trillion or around 35 percent remaining to reach the target of around IDR3.80 trillion," he explained.

The strategic action plans that will be implemented in the second half of 2018 include launching and groundbreaking three residential projects namely Westown View and Grand Sungkono Lagoon in Surabaya and Grand Sagara Apartments in Suramadu.

From the hospitality business, Prime Park Hotel Pekanbaru and Palm Park Hotel Surabaya will start adding contributions to the company in the form of recurring income, as well as the Lagoon Avenue Bekasi Mall for its commercial business side.

"With the support of two banking programs, the launching and groundbreaking of several projects and a sales strategy through partnerships with investors through bulk sale transactions, we are optimistic that we can achieve the 2018 performance target," he said.