Strong demand in the first-home market and steady growth in its premium residential segment propelled Century Properties Group, Inc. (CPG) to record-high profits in 2024.

In a stock exchange report on Thursday, the property developer announced a 31 percent surge in net income after tax to P2.44 billion, up from P1.86 billion in 2023. Revenues rose 15 percent to P14.64 billion, driven by key growth segments.

“We are very pleased with our 2024 performance, which reflects our commitment to operational excellence, successful project completions, and effective debt management,” CPG President and CEO Marco R. Antonio said.

The first-home segment remained the company’s biggest contributor, generating P9.9 billion in revenues, up from P7.4 billion the previous year.

Meanwhile, premium residential sales added P3 billion, while leasing and property management brought in P1.31 billion and P464 million, respectively.

Building on this momentum, Antonio said CPG is expanding further into North and South Luzon, as well as the Visayas, where it continues to develop quality, affordable homes.

He also pointed to improving housing demand, supported by government-led infrastructure projects.

“The government’s Infrastructure Flagship Projects—especially those boosting nationwide connectivity—will quickly drive progress and, consequently, increase the demand for quality homes across the country,” Antonio said.

CPG’s strong financial position also backs its expansion plans. Total assets rose 3 percent to P55.9 billion, while interest-bearing debt was reduced by 16 percent, boosting overall returns.

Notably, CPG achieved a double-digit return on equity for common shareholders for the first time.