Robles-Santos group adds over 120 hectares to Sta. Lucia land bank, borrows P6B from China Bank

Real estate developer Sta. Lucia Land Inc. has secured the nod of its board of directors to secure P6 billion worth of loans and credit facilities from China Banking Corp.

The loan will be used to fund SLI’s strategic land acquisitions and future project developments.

In a disclosure to the stock exchange, SLI of the Robles-Santos group said the board approved the acquisition of 323,413 square meters of land in Batangas and Laguna.

The board likewise authorized the company to enter into joint ventures involving the development of properties in Rizal, Batangas and Cotabato.

SLI’s continued expansion reflects its bullishness on the real estate market despite the challenges posed by the pandemic.

In the nine months to September last year,SLI reported a 44 percent jump in net income to P1.84 billion on the back a 26 percent growth in revenues to P5.74 billion.

SOURCE: Bilyonaryo

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Robles-Santos Group gets go-ahead for Sta. Lucia’s P9.9B follow on offering

Leading residential developer The Securities and Exchange Commission has approved Sta. Lucia Land Inc.’s planned P9.87 billion follow-on offering to pay down debt and fund new and ongoing projects as well as land acquisitions.

The Robles-Santos-led Sta. Lucia will offer to the public up to 2.5 billion common shares at a price ranging from P2.38 to P3.29 per share, with an over allotment option of up to 500 million common shares.

Net proceeds from the offer could reach as much as P9.55 billion, assuming the oversubscription option is fully exercised.

At an offer price of P2.38 to P3.29 per share, Sta. Lucia’s market capitalization upon listing will be P26.65 billion to P36.84 billion assuming the full exercise of the overallotment option.

The follow-on offering is slated to run from November 10 to 19, while the listing of the shares is set for November 26.

China Bank Capital Corp. is the sole issue manager, lead underwriter, and sole bookrunner for the offer.

SOURCE: Bilyonaryo

 

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Robles-Santos group enjoys healthy returns as booming residential sales lift Sta. Lucia’s profit

 
Sta. Lucia Land Inc. saw its first half net income surge by 90 percent to P1.44 billion as real estate sales spiked by 63 percent.

Revenues soared by 63 percent as sales from real estate jumped to P3.26 billion.

SLI executive vice president David Dela Cruz said the strong financial performance was largely “driven by sales of residential lots which have shown resilience during the pandemic.”

“As majority of our projects are in the fringes, or in the outskirts of the central business districts and major growth centers, they have become more practical as they offer bigger spaces, more affordable pricing and seen as ultimate beneficiaries of the government’s aggressive infrastructure program which aims to interconnect the entire country”, he said.

Also contributing to SLI’s growth was the 21.4 percent spike in rental income to P273.4 million as the government relaxed quarantine restrictions.

Interest income more than doubled to P188.67 million while commission income went up 11 times more than the P3.17 million recorded a year ago.

SLI, led by its president Exequiel Robles, also benefited from the CREATE law as it incurred lower tax expenses, partly offsetting the increase in cost and operating expenses.

Total assets increased by 26 percent as the company raised new long term debt to refinance its more expensive liabilities.

SLI has a total of 115 ongoing projects, 60 or 51 percent of which are located in the high growth area of CALABARZON.

It also has 25 projects in Davao while the rest are spread out in seven other regions.

SOURCE: Bilyonaryo

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