JAKARTA. PT Pantai Indah Kapuk Dua Tbk (PANI), the developer of Pantai Indah Kapuk (PIK), booked net profit of 487 billion within the first nine months (9M) of 2024.

Said number increased 91% year-on-year (yoy) compared from the net profit recorded in the same period last year.

According to the recently released financial report, PANI’s net profit surge in 9M 2024 was driven by its revenue that reached IDR 2.1 trillion. The revenue jumped 21% yoy from IDR 1.7 trillion seen in 9M 2023.

Sugianto Kusuma, President Director of PANI, mentioned that this performance improvement is a testament of the company’s hard work in establishing PIK 2 as the primary destination of the masses, both local and international visitors.

“I will keep supporting brilliant innovations of PANI in order to create an optimum market and sustainable profitability without sacrificing the consumers’ trust,” said Kusuma in the official statement.

Based on IDNFinancials data, PANI has just concluded its second rights issue worth IDR 10.5 trillion. In August 2024, the company also held a private placement that brought in total extra capital worth IDR 6.5 trillion. Said raised fresh fund was then reportedly allocated to acquire more landbank for the company. (KR/ZH)