The jump was fueled by a 117-percent rise in total revenues to P4.5 billion, driven by stronger real estate sales, higher hotel revenues, and growing rental income.
DoubleDragon said fueling the increase were "additional sales from Hotel101 and residential projects of the Group especially real estate sales from Hotel101-Madrid and Hotel101-Niseko”.
It also cited an increase in occupancy and rental contributions from new projects.
A significant chunk of profits came from P1.9 billion in unrealized gains due to the completion of key investment properties.
DoubleDragon also reported a 191-percent increase in interest income and a 30-percent rise in other income, helped by foreign exchange gains and time deposit yields.
While expenses climbed, particularly in marketing and administrative costs, the topline growth and fair value gains more than made up for it.
The company’s net debt-to-equity ratio stayed healthy at 0.76, with its balance sheet expected to strengthen further through the upcoming NASDAQ listing of Hotel101 Global.
With over 1.4 million square meters of recurring revenue-generating assets, DoubleDragon is emerging as a serious regional player in property and hospitality.
