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VISTA Land and Lifescapes, Inc. is raising its revenue target for
this year despite the possible threat of higher inflation and
creeping interest rates.
In a telephone interview, Manuel Paolo Villar,
Vista Land corporate planning head, told The Manila Times that the
company is aiming for P10.6 billion in real estate sales this year,
or 29 percent higher than last year’s P8.2 billion. With this,
core net income will grow by 20 percent this year, slower than the
82.4-percent expansion last year. Revenue growth last year came in
at 37 percent.
“We are confident that we can meet the targets
[as] take-up numbers of our projects have been good. We are not much
affected by the sub prime problem in the US [as well] as what is
happening right now [here]. But we are very aware of it,” Villar
said.
Sales take-up last year surged 54.4 percent to
P16.6 billion while end-March sales take-up reached P4.6 billion, 23
percent more than last year.
Villar said the growth targets are
“reasonable” since these are not very aggressive numbers, adding
the company has “leeway in achieving [them].”
For this year, the company said it plans to
broaden its product offerings and expand its regional presence
despite the recent market volatility. It has enough funds to finance
its capital expenditures since it raised enough cash from its public
offering last year.
“The group-wide growth in real estate sales
last year can be attributed to our large and diversified pipeline, a
successful entry into the vertical housing segment, and a resurgence
of the property sector in 2007,” Benjamarie Therese Serrano, Vista
Land president and chief executive, said in a statement.
-- Likha C. Cuevas-Miel
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