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Bumi Serpong Damai net profit soars nearly 3 folds as of September 2021

03 January 2022 12:00

JAKARTA. PT Bumi Serpong Damai Tbk (BSDE) posted a net profit of IDR 930.8 billion as of September 30 (9M) 2021, an increase of almost 3 folds from net profit in the same period the previous year.

BSDE's net profit growth in 9M 2021 was supported by revenue performance which reached IDR5.17 trillion. Compared to the same period the previous year, the company's revenue grew by 20.7% year-on-year (yoy).

Sales of land and buildings are still the main contributors to BSDE's total revenue in 9M 2021, which was recorded at IDR4.1 trillion. Rental income contributed IDR524 billion, construction IDR267 billion, hotels IDR5.78 billion, recreational arena IDR2.99 billion, building management IDR202.14 billion, and others IDR20.67 billion.

On the other hand, BSDE is also trying to maintain selling expenses and reduce administrative expenses in 9M 2021. In this period, the company's selling expenses were recorded to be the same as the same period last year, which was IDR692 billion. Meanwhile, administrative expenses fell 6.3% yoy to IDR846 billion.

According to idnfinancials.com data, BSDE is a property issuer owned by the Sinar Mas Group. As of September 30, 2021, the two largest shareholders of BSDE are PT Paraga Artamida with a 32.18% ownership portion and PT Ekacentra Usahamaju with 25.95%. Meanwhile, the share ownership of public investors was 33.99%. (KR/LM)

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