Gains during the period were driven by higher revenues from residential projects like Edades West, Nara Residences, and 8 Benitez, which contributed to the P14.02 billion total sales—a 5 percent increase from P13.33 billion last year.
Residential developments made up 78 percent of revenues, with strong construction progress boosting earnings.
Commercial developments, including retail and office operations, added P3.1 billion, up 7 percent, while retail leasing improved due to higher rental rates and occupancy. Earnings before interest, taxes, depreciation and amortization rose 7 percent to P5.66 billion.
The builder’s commercial projects include the Power Plant Mall, 8 Rockwell and Edades Serviced Apartments in Makati City, Santolan Town Plaza in San Juan, Metro Manila, Rockwell Business Center (RBC) in Ortigas, Pasig and RBC Sheridan in Mandaluyong, Metro Manila.
Despite higher costs, such as the P1.24 billion interest expense and P1.79 billion in administrative expenses, improved cost efficiency in residential developments kept profit margins steady.
Capital expenditures hit P12.1 billion during the period.
“Most expenditures were for land acquisitions and development costs, primarily for Edades West, Nara Residences, and 8 Benitez,” Rockwell Land said.
