JAKARTA – Despite its loss of IDR 118.85 billion until the end of Q3 2023, PT PP Properti Tbk (PPRO) eyes 2024 optimistically by aiming to secure 30%-50% surge in its sales next year.

According to Deni Budiman, Director of Finance of PPRO, during the 2023 Annual Public Expose of PPRO held virtually today (28/12), the company sets the target to see total sales of IDR 441 billion at the end of 2023.

In other words, PPRO eyes at least IDR 573 billion of sales or IDR 661.5 billion at most at the end of 2024.

“With the handover of several other projects that we could complete throughoutQ1 to Q4 2024, we are optimistic that the sales may increase 30%, 40%, even 50% from 2023,” said Daniel Rinsani, President Director of PPRO.

PPRO is indeed planning handover of four (4) residential and commercial projects in the next year, including apartment, landed house, and student residence.

These projects consist of Louvin Apartment, Jatinangor and Permata Puri Cibubur that has been handed over in December 2023, and will be finished by Q1 2024. In addition, there are also Westown View, Surabaya in Q2, Gunung Putri Square, Bogor in Q3, dan Begawan Apartment, Malang in Q4 of 2024.

Aside from handover of projects under PPRO, the company will also focus on stock reduction in subsidiaries, namely in PT PP Properti Jababeka Residen, which, until September 2023, 52.6% of which is still under the control of PPRO.

Then, there are also plans to divest 4 land plots that are owned by PPRO in Q2 and Q4. “The target of divestment proceeds reaches IDR 356 billion, and the total amount channelled to revenue is projected to be IDR 40.39 billion,” said Dyah Rahadyannie, Director of Business Development and HCM of PPRO.

“The proceeds will be utilised to fund the payment of obligations of PPRO and other ongoing projects to be handed over next year,” Rahadyannie continued.

In 2024, PPRO also aims to gain back profitability through improving its sales, as well as divestment of landbank and stocks in subsidiaries. “We aim to score operating profit of IDR 23.15 billion at the end of 2024,” Rinsani mentioned. (ZH)