Italpinas revenue jumps 29.9% as profit falls in 2025

Developer expands provincial footprint as earnings hit by higher costs and revaluation shifts

Real estate developer Italpinas Development Corporation closed 2025 with a net income of ₱250.9 million, down 27.4% from ₱345.4 million in 2024. Revenue, however, moved in the opposite direction, climbing 29.9% to ₱784.7 million from ₱604.2 million, reflecting stronger project sales even as profits softened.

Growth for the company, which focuses on eco-friendly and energy-efficient projects outside Metro Manila, was driven by continued demand for Primavera City Citta Bella in Cagayan de Oro and Miramonti in Sto. Tomas, Batangas. It also began recognizing revenue from newer developments under its subsidiaries, including Verona Green Residences and Primavera City Citta Grande, widening its income base as more projects move into completion and turnover stages.

Navigating the interest trap

Despite higher sales, profit was pulled down by increased interest expenses and lower gains from investment property revaluation compared to 2024. Basic earnings per share slipped to ₱0.35 from ₱0.54. Total assets rose 4.65% to ₱4.5 billion, signaling continued expansion.

The results reflect a broader pattern in the property sector, where developers are leaning more heavily on provincial markets as Metro Manila becomes increasingly cost-intensive and saturated. Timing also plays a role, with earnings often shifting depending on which projects reach recognition stages within the year.

Italpinas said it expects further growth, with plans to expand into Palawan, Boracay, Bataan, and Bukidnon, leaning on rising provincial housing demand beyond Metro Manila.