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S P Setia’s revenue of RM1.08 billion in 2Q 2021 is three times higher than last year

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S P Setia’s revenue of RM1.08 billion in 2Q 2021 is three times higher than last year

For the market in general (not property buyers), property developer’s performance as a property developer are judged based on their sales performance. Launching new developments and selling them would be a good indicator of the financial health of a property developer too. For buyers, of course the build quality is far more important but that’s another article.

Today, we look at one major property developer and what has happened during their 2Q 2021 (when businesses were generally operating) versus 2Q 2020 (when businesses were generally under lockdown).

Article in themalaysianreserve.com SP Setia posts 2Q21 net profit of RM74.8m. This is a vast improvement from a net loss of RM134.34 million a year ago. SP Setia says that it’s revenue was RM1.08 billion and this was three times higher than recorded last year.

SP Setia president and CEO Datuk Khor Chap Jen said the group is positive with the market outlook and will focus on achieving its sales target of RM3.8 billion. He said, “We expect the economy in general and the property sector specifically to recover gradually in the coming quarters at the back of efficient rollout of the vaccination programme to achieve herd immunity, as well as the imposition of various standard operating procedures in our fight against Covid-19.”

Local projects contributed 77% of total sales and remaining from international projects such as Daintree Residence in Singapore. For 2H21, Khor said that S P Setia will be offering new launches worth RM2.47 billion in 2H21 in various townships. S P Setia has 47 ongoing projects, effective remaining landbank of 7,483 acres valued at a GDV of RM125 billion and total unbilled sales of RM10.3 billion. Please refer to the full article here: Article in themalaysianreserve.com

Buy the property or buy the shares then?

If you found a property launched by them meets all your expectations, then buy the property lah. If you have yet to find any property you like which was launched by them but you still like to invest into a property somehow, then perhaps can also buy their shares. I do not have any S P Setia shares today and I have not bought any S P Setia properties yet.

Have not found anything yet. We will see what happens in the future. So the decision of whether to buy a property or the company shares is up to you yeah. Decide which one makes more financial sense. If you like to know a little about the shares, here’s an overview in google.com when you type in “S P Setia share price” today (19th Aug 2021).

During better years, the price has trended higher but it is now on the lower end since 2020. Do read more from their financial results if you like. Happy following.

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