Bisnis.com, JAKARTA — After posting lackluster performance last quarter, property developer PT Bumi Serpong Damai (BSDE) might rebound in Q2 as analysts cite potential tailwinds including Bank Indonesia (BI) rate cut, extension of VAT incentives, and strong presales.
The Sinar Mas Land business entity’s net profit had plunged in Q1 by 77.73% year-on-year (YoY), from IDR 1.44 trillion last year to only IDR 320.62 billion. In the same period, consolidated revenue reached IDR 2.70 trillion, with the largest contribution from property unit sales, land, and strata title, amounting to IDR 2.30 trillion or 85.31% of total revenue.
