JAKARTA – The net profit of PT Indonesian Paradise Property Tbk (INPP) surged by 219% year-on-year (yoy) in 2024, reaching IDR 334.9 billion, or 3.2 times higher than the IDR 105 billion recorded in 2023.

According to the 2024 Financial Report, INPP’s revenue also grew by 18.6% to IDR 1.31 trillion, supported by growth across all segments.

The hospitality segment contributed a 23% increase, reaching IDR 580.40 billion in 2024, followed by the commercial segment, which rose 8% to IDR 497.19 billion.

However, the most significant growth came from the property sales segment, which increased by 37% to IDR 232.07 billion, driven by the sales of units in Antasari Place.

As previously reported by IDNFinancials.com, INPP officially completed the handover of units in Antasari Place on March 18, with operations expected to commence in Q2 2025.

However, INPP recorded a moderate decline in its recurring income portion, from 90% in September 2024 to just 82% by the end of 2024.

“Paradise Indonesia aims to maintain a recurring income portion above 70%,” explained the management in its official statement today (26/3).

For 2025, INPP targets revenue growth of around 20%, focusing on the operations of Antasari Place and the 23 Paskal Extension project in Bandung, which is expected to begin operations in the second half of the year. (ZH)