JAKARTA – PT Wulandari Bangun Laksana (BSBK), the operator of Balikpapan Superblock, recorded a 783% increase in net profit to IDR 349.58 billion in 2024, compared to IDR 39.59 billion the previous year.

According to its latest financial report, the increase in net profit aligns with a 4.14% growth in net revenue, reaching IDR 361.49 billion.

Although the contribution from the apartment and condotel sales segment decreased to IDR 22.72 billion in 2024, revenue from leasing and management activities rose to IDR 191.97 billion and IDR 146.80 billion, respectively.

Additionally, the company managed to reduce its cost of goods sold by 22.17% to IDR 104.41 billion, driving BSBK’s gross profit up 20.72% to IDR 257.08 billion in 2024.

Moreover, due to rising land and building asset prices in the Balikpapan Superblock area, BSBK recorded a fair value gain on investment properties amounting to IDR 270.58 billion in 2024, further boosting its profit performance.

According to data from IDNFinancials.com, BSBK's total assets increased by 14.91% to IDR 2.86 trillion as of 31 December 2024, with cash and cash equivalents amounting to IDR 18 billion. (DH/ZH)