Connect with us

Hi, what are you looking for?


Ovialand net income up 37% to P227M

RESIDENTIAL property developer Ovialand, Inc. ended 2022 with a 37% increase in net profit to P227 million from the P166 million it recorded in 2021.

In a press release on Thursday, the company reported that revenues last year rose by 64% to P1.4 billion.

According to the company, revenues in the past three years have grown by 300% due to the rising demand for its projects, which is based on turned-over homes and financing taken from partners.

Ovialand President and Chief Executive Officer Pammy Olivares-Vital said that the company exceeded the initial revenue target of P1.2 billion to P1.4 billion.

“Midway through the year, we decided to speed up our construction due to higher-than-expected market demand for our premium affordable homes,” Ms. Olivares-Vital said.

In an earlier release, the company said that its earnings before interest, taxes, depreciation, and amortization grew by 39.4% to P306.4 million from P219.8 million the previous year.

Ovialand’s total assets rose to P1.6 billion from P1.1 billion in the previous year.

Ms. Olivares-Vital said the company began its entry in the Bulacan region to cater to the northern Metro Manila market as part of a five-year growth plan that started in 2021.

“We continue to be bullish with our growth so that we can support the demand for premium quality housing at an affordable price point for our growing economy,” she added. — Adrian H. Halili

Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!



The Independent Electricity Market Operator of the Philippines (IEMOP) is holding a big conference, the Philippine Electric Power Industry Forum (PEPIF) 2023, with the...


TIM MOSSHOLDER-UNSPLASH TECHNOLOGY is moving at lightning speed. In my lifetime alone, the world as we know it has orbited into a completely different...


A man wearing a protective mask is reflected on an electronic board displaying various companies’ stock prices outside a brokerage in Tokyo, Japan, Feb....


KREMLIN.RU/EVENTS/PRESIDENT/NEWS/60363/PHOTOS-COMMONS.WIKIMEDIA.ORG SEOUL — North Korean leader Kim Jong Un has overseen drills simulating a nuclear counterattack against the US and South Korea in a...


RAGHAVENDRA V KONKATHI-UNSPLASH LONDON — Some of the world’s leading makers of flu vaccines say they could make hundreds of millions of bird flu...


BW FILE PHOTO Productivity and customer experience management tools are the most sought-after tools among companies in the Philippines, with businesses of all sizes...

You May Also Like


COVID-19 has had a significant impact on the mental health of Filipinos across different groups all over the archipelago. From frontline workers, parents balancing...


REUTERS By Luz Wendy T. Noble, Reporter The country’s foreign exchange buffers slightly increased as of end-October as the value of the central bank’s...


BW FILE PHOTO GROSS BORROWINGS by the National Government reached P2.6 trillion as of end-September as it continued to raise funds to respond to...


KARASOLAR.COM TENA, Ecuador — Ecuador’s rainforest Achuar people say their ancestors long dreamed of a “fire canoe” or “electric fish” that would let them...

Disclaimer: Respect, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2022 Respect Investment. All Rights Reserved.