IDC earnings fall 27% as costs offset revenue growth

LISTED real estate developer Italpinas Development Corp. (IDC) and its subsidiaries reported a 27.4% decline in net income to P250.9 million for 2025, as higher financing costs and lower gains from investment property appraisals offset higher revenue.

In a statement on Monday, IDC said its sales reached P784.7 million in 2025, up 29.9% from P604.2 million in 2024, driven by sales from ongoing projects, including Primavera City – Città Bella in Cagayan de Oro and Miramonti in Sto. Tomas, Batangas.

“From inception, IDC has focused on being an early mover in emerging locations, foreseeing the current shift in real estate focus from Metro Manila to provinces, and this has paid off with the significant generated sales from these flagship projects during the year,” the company said.

In 2025, IDC subsidiaries IDC Homes and IDC Prime recognized revenue from their projects, Verona Green Residences and Primavera City – Città Grande, respectively.

Despite higher revenue and margins, net income declined due to higher interest costs and lower gains from investment property appraisals compared with those recorded in 2024.

“Positive performance was also noted in the group’s financial position, reflecting a significant improvement in its liquidity position compared to 2024. Total assets increased to P4.5 billion from P4.3 billion in 2024 or 3.5%. Coupled with this was an overall decrease in the total liabilities to P2.5 billion from P2.6 billion in 2024 or 3.6%,” IDC said.

Basic earnings per share from continuing operations declined to P0.35 from P0.54 in 2024. The current ratio rose to 1.74 from 1.51 in 2024, indicating improved short-term liquidity.

For 2026, IDC said it expects continued growth as it expands into new locations nationwide, including Palawan, Boracay, Bataan, and Bukidnon, where it plans to launch eco-friendly developments.

Shares in Italpinas Development Corp. fell by 1.25% or one centavo to close at P0.79 on Monday. — Alexandria Grace C. Magno