JAKARTA – The performance of PT Pantai Indak Kapuk Dua Tbk (PANI) has soared high, sporting revenue growth of 274% and profit growth of 96.76% year-on-year (yoy) in 2023. The main drive behind revenue increase was landed house sales.

In the press release quoted Monday (4/3), Sugianto Kusuma, President Director of PANI, revealed that PANI’s net profit hit IDR 273 billion, a complete upturn from IDR 138.84 billion seen in 2022. “This surge resulted from a shift in company’s business, from cold storage and processed food to property and real estate,” he said.

This issuer booked revenue of IDR 2.15 trillion, proliferated from IDR 577.74 billion. The gross profit was recorded at IDR 1.07 trillion, jumping as high as 171.53% yoy from IDR 297.98 billion. The gross profit margin was seen arriving at 49.95%, lower than 68.80% seen in 2022.

The main component of the sales of PANI was land plot and residential sales of IDR 2.12 trillion, up 275.26% yoy from IDR 566.47 billion, followed by land rents of IDR 489.38 million, also up 58.76% yoy from IDR 308.82 billion. Then, other revenue also increased 352.26% from IDR 7.47 billion to IDR 33.80 billion, while goods’ sales soared from IDR 3.47 trillion to IDR 40.93 million.

As of now PIK 2 reported owning land bank of 1,607 hectares (Ha) worth IDR 26.2 trillion. The land bank was owned collectively by 12 of its subsidiaries, namely PT Bangun Kosambi Sukses, PT Mega Andalan Sukses, PT Bumindo Mekar Wibawa, PT Sharindo Matratama, PT Jaya Indah Sentosa, PT Cahaya Gemilang Indah Cemerlang, PT Cahaya Inti Sentosa, PT Kemilau Karya Utama, PT Karunia Utama Selaras, PT Sumber Cipta Utama, PT Cahaya Kencana Indah, and PT Panorama Eka Tunggal. (LK)