economy

Paradise Indonesia Is Keeping An Eye On Growth, With Revenue And Net Profit Rising In Q3 2024

Indonesian Paradise Property Tbk (INPP:IJ) is making waves with its iconic properties in commercial, hospitality, and real estate sectors, showing solid growth through the third quarter of this year. The company reported impressive financial performance, raking in total revenues of Rp878.1 billion, which is a 6% increase compared to the same period last year.

Net profit also saw a remarkable jump of 121% year-on-year, totaling Rp342.6 billion. A major driver of this growth has been the recurring income, which stands at an impressive 90%.

The hospitality segment continues to be the biggest contributor to the company’s total revenue, bringing in Rp424.4 billion and experiencing a 24% year-on-year increase. The commercial segment also saw a 6% rise compared to the same period last year, with total revenue of Rp365.3 billion in the third quarter.

“We’re increasingly confident in our goal to boost revenue by 20% by the end of 2024, especially since growth has remained strong through Q3, along with our expanding project portfolio,” said Anthony P Susilo, President Director of Indonesian Paradise Property.

In addition to its stellar performance, Paradise Indonesia’s properties have received recognition and awards. Several accolades highlight the company’s achievements on both national and international stages. For instance, at the PropertyGuru Awards 2024, the 23 Paskal Shopping Center was named Country Winner for Best Retail Development, while the 23 Semarang Shopping Center, currently under construction, won Best Retail Architectural Design.

Another notable property in Paradise Indonesia’s portfolio, the Beachwalk Shopping Center, was honored with the Exquisite Award 2024 as the Best Shopping Mall in Bali.

Plaza Indonesia Shopping Center, which is part of the company's business investments, was recognized as the Best Shopping Mall in Jakarta at the Exquisite Award 2024.

Other ongoing projects by Paradise Indonesia include the expansion of the 23 Paskal Shopping Center, set to be completed in 2025, and the 23 Semarang Shopping Center, expected to open in 2026. They also have hotel and residential projects in Balikpapan and Makassar planned for development between 2027 and 2030.

Tag: Balikpapan Makassar Paradise Indonesia