JAKARTA. PT Bumi Serpong Damai Tbk (BSDE), a real estate developer and management company, booked net profit of IDR 1.77 trillion within the first nine months (9M) in 2023.

BSDE’s net profit in 9M 2023 soared 92.64% year-on-year (yoy). In the same period last year, net profit of the company only reached IDR 918.30 billion, tax deducted.

BSDE’s net profit growth in 9M 2023 is supported by operating revenue that arrived at IDR 7.31 trillion. Sales of land (lot), building, and strata title contributed 82.57% of total revenue of the company, equal to approximately IDR 6.03 trillion. This segment’s revenue recorded 8.15% yoy growth.

Hermawan Wijaya, Director of BSDE, said that the company’s revenue in 9M 2023 is supported by BSD City sales, scoring marketing sales of IDR 8.8 trillion at the end of Q3 2023. “The sales of residential and commercial units in BSD City were seen making up 75% of total marketing sales,” he explained in the official disclosure.

In addition, Wijaya mentioned that BSDE also has solid and varied diversification strategy in major cities, starting from Greater Jakarta Area, Palembang, Medan, Balikpapan, Samarinda, Manado, Semarang, Surabaya, and Makassar.

Until September 2023, real estate reserves owned by BSDE were recorded at IDR 13.66 trillion. These reserves consist of ready-for-sale land and building worth IDR 4.28 trillion, building under construction of IDR 2.18 trillion, land under development of IDR 7.20 trillion, as well as hotel area reserves and others worth IDR 1.06 billion. (KR/ZH)