JAKARTA - PT Duta Pertiwi Tbk (DUTI), a subsidiary of PT Bumi Serpong Damai Tbk (BSDE) and a member of the leading property group Sinar Mas Land during the first six months managed to record operating revenues of IDR701.27 billion, close to last year's figure of IDR717.76 billion.
The issuer, which is a pioneer of mixed used strata title shopping centers with the ITC brand, received the highest revenue contribution from the sales segment of land, residential and shop houses, namely IDR398.32 billion, grew 10.59%, compared to last year's IDR360.19 billion. Even 52% of them come from residential sales.
The government's policy to provide VAT relief and exemption until the end of December 2021 also provides positive sentiment to prospective buyers, both for ready-to-occupy houses with prices up to IDR2 billion for 100% VAT free and prices above IDR2 billion to IDR5 billion for 50% VAT relief. The rental segment was the second largest revenue contributor, amounting to IDR232.20 billion, down 15% compared to last year's IDR273.46 billion and the other segment weakening 5% to IDR66.08 billion compared to last year's IDR69.49 billion.
With the addition of other income, Net Profit Attributable to Owners of the Parent Entity jumped by 81.37% to IDR285.44 billion compared to last year's achievement (yoy) of IDR157.38 billion. To continue sustainable growth in 2021, the company remains focused on residential, commercial and entertainment development. As of June 30, 2021, DUTI had real estate inventories totaling IDR3.69 trillion. (LM)