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Wednesday, September 13, 2017       14:41 WIB
PremierInsight: CTRA booked additional marketing sales Rp1.11tn from the sales residential cluster Northwest Hill in Citraland, Surabaya

Ciputra Development (CTRA IJ; Rp1,155; Not Rated) booked additional marketing sales Rp1.11tn from the sales residential cluster Northwest Hill in Citraland, Surabaya. CTRA [1,155 0 (+0,0%)] managed to sell 680 units with ASP Rp1.6mn only in six hours. With the sale of this project, CTRA [1,155 0 (+0,0%)] booked total marketing sales of Rp4.41tn, which is 52% of FY17 target of Rp8.5tn. (Kontan)

Comment: Including the successful take up of Surabaya, CTRA’s pre-sales has reached 63% of our FY17 target which is same with 9M16 achievement. Despite relatively weak pre sales 2017, we expect CTRA‘s revenue and earnings to grow   23% and 31% yoy in FY18 on the back of massive unit handover from pre sales FY15. Maintain BUY at TP Rp1,355.

 

 

Sumber : IPS RESEARCH


 





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