Haus Talk books 51% profit surge
Haus Talk Inc. (HTI) saw a 51-percent surge in its net income last year, which reached P365 million.
This was on the back of gains from an income tax holiday and its investments in “advanced construction methodologies.”
The Madlambayan family-led housing developer said in a statement on Tuesday its revenues also jumped by 39 percent to P1.4 billion.
“The substantial rise in net income is attributed to the favorable impact of an income tax holiday and operational efficiencies realized through strategic investments in advanced construction methodologies,” HTI said.
The listed firm was referring to cast-in-place concrete, which is molded directly on a building site. This type of concrete is typically used to allow flexibility in designing buildings.
Meanwhile, an income tax holiday is a fiscal incentive granted by the national government to businesses. This temporarily exempts them from paying corporate income tax during a specific period.
In HTI’s case, its The Granary project in Laguna was granted a three-year income tax holiday.
“Since we started, location, design and build quality have always been the pillars of our residential developments, even if we cater to a market that requires affordability,” HTI president and chief operating officer Ma. Rachel Madlambayan said.
“Through efficient operations and utilization of technologies now available, impact on our financial performance is now very much apparent,” Madlambayan added.
HTI made its stock market debut in 2022 and raised P750 million from its initial public offering.
In April last year, HTI launched the 1.6-hectare The Hammond residential project in Antipolo City.
