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Total Bangun Persada books new contract Rp643 billion

11 July 2013 08:58 AM  Company: PT. Total Bangun Persada Tbk[TOTL]
Rp. 705  +5 (0.71%)

JAKARTA - PT Total Bangun Persada Tbk (TOTL), a construction service company, booked new contract value of Rp643 billion in the first half of 2013 or 54% from the target of Rp2.1 trillion.

“As per June 20, 2013, the new contract reached Rp643 billion, approximately comparable to last year. Several contracts are currently under review. That is why the value should be higher,” Elvina Apandi Hermansyah, Corporate Secretary of Total Bangun Persada, told Bisnis on Wednesday (7/10).

She said the new contracts as per June 20 this year derived from the company’s projects, such as Binus Alam Sutera, The Breeze BSD City, BRI Tower BSD, Neo Simatupang Hotel, and Indokordsa Plant in Citeureup Bogor.

In addition, Total Bangun Persada is currently working on a number of projects in pipeline as per June 2013 worth Rp4.33 trillion, which are residential project Rp830 billion, office building Rp2.5 trillion, shopping center Rp400 billion, industry Rp130 billion, and utility Rp470 billion.

The company is optimistic to achieve net profit of Rp210 billion this year or 19.3% compared to Rp176 billion last year.

“The biggest revenue contribution of 85%-90% is expected to come from construction projects, while the remaining 10%-15% from the businesses of its subsidiaries,” said Elvina.

Source: Bisnis Indonesia