Vista Land and Lifescapes Inc., a property development unit of the Villar Group, eked out higher earnings in the first nine months of the year, powered less by booming sales and more by a disciplined squeeze on costs that helped steady the listed company’s bottom line amid mixed performance across its flagship housing brands.
Net income rose 4 percent to P9.46 billion, lifted by lower operating expenses and steadier project completion, even as several key segments logged softer sales. Real estate revenues inched up 3 percent to P13.98 billion, supported by faster construction progress and the recognition of financing components under the percentage-of-completion method.
The luxury Brittany brand supplied the year’s brightest spot, more than doubling its revenue to P2.37 billion as high-end projects in Mega Manila advanced. Communities Philippines also delivered a 5 percent uptick on stronger activity in affordable housing outside the capital.
But not all units shared the momentum. Vista Residences slumped 19 percent as fewer condominium projects reached completion. Camella slipped 7 percent, while Crown Asia tumbled 21 percent, reflecting softer construction in Mega Manila’s mid- and upper-income markets.
The real catalyst was cost control. Total expenses dropped 6 percent to P11.61 billion, with operating costs down 9 percent as the company cut back on advertising, professional fees and repairs. Those savings helped offset a 17 percent rise in interest and financing charges due to lower capitalized expenses.
Vista Land closed September with assets of P387.6 billion, up 3 percent from year-end, while stockholders’ equity climbed 7 percent to P144.98 billion.
Management said continued project launches and improving construction activity should support steadier revenue flows, even as the company leans on cost discipline to navigate a choppy property market.
