Ayala Land books P28.2-B profit in 2024, up 15%

Property giant Ayala Land Inc. posted double-digit growth in its bottom line in 2024 amid strong performance across its diversified portfolio.

In a disclosure to the Philippine Stock Exchange on Thursday, Ayala Land reported a net income of P28.2 billion, up 15% year-on-year.

This was on the back of 21% growth in the company’s consolidated revenues, which hit P180.7 billion.

Ayala Land said revenues from its property development business grew by 22% to P112.9 billion, driven by higher residential and estate lot bookings. 

Residential revenues rose by 23% to P94.9 billion on higher bookings across all brands. 

Revenues from commercial and industrial lots increased by 34% to P14.6 billion lifted by demand for lots outside Metro Manila.

“We ended the year on solid footing, with all our business lines executing on their growth strategies,“ said Ayala Land president and CEO Anna Ma. Margarita Bautista-Dy.

“We look forward to the year and are excited to bring innovative residential and leasing offerings to our customers, expand our market reach and capture new business opportunities,” she added.

In 2024, Ayala Land said its capital expenditures reached P84.6 billion, of which 46% were spent on the buildout of residential projects, 27% on estate development, 15% on leasing and hospitality assets, and 12% on land acquisition commitments. — VBL, GMA Integrated News