Century Properties Group Inc. (CPG) reported a 38 percent increase in net income in the first nine months of the year, reaching ₱1.8 billion, up from ₱1.3 billion in the same period last year. The company traced the growth to strong performance across its residential and commercial segments, with total revenue climbing 11 percent to ₱10.78 billion from ₱9.69 billion in 2023.
The bulk of CPG’s revenue, 64 percent or ₱6.9 billion came from its first-home residential development segment, followed by premium residential projects contributing 24 percent or ₱2.6 billion. Commercial leasing and property management made up the remaining 13 percent or ₱1.4 billion.
“We’ve successfully captured the growing demand for affordable homes and premium developments, thanks to our expanded footprint and the country’s infrastructure boom,” said Ponciano S. Carreon Jr., CFO of Century Properties. He added that the company is targeting key cities outside Metro Manila for expansion as infrastructure projects ramp up in Luzon and the Visayas.
In 3Q alone, CPG posted a 12 percent increase in net income reaching ₱727.5 million, while revenue surged 23 percent to ₱3.63 billion.
Marco R. Antonio, president and CEO, expressed confidence that CPG is on track to meet its full-year targets, citing a strong project pipeline and strategic growth initiatives. “We remain committed to providing value to our stakeholders through innovation and strategic expansion,” he said.
