Cebu Landmasters Inc. (CLI) posted a consolidated net income of P1 billion in the first quarter of the year as sustained housing demand across the Visayas and Mindanao lifted residential sales recognition and boosted revenues.

In a report on Thursday, the company said net income attributable to parent shareholders reached P881 million.

The VisMin developer said consolidated revenues rose 20 percent to P6 billion from P5 billion a year ago as ongoing residential projects achieved higher construction completion rates.

“Our first-quarter results reflect the strength of our residential engine and the continued progress of our ongoing developments across VisMin.

We remain focused on disciplined execution and timely delivery, especially in markets where demand continues to be real and end-user driven,” CLI Senior Executive Vice President and Chief Operating Officer Jose Franco Soberano said.

Revenue from real estate sales climbed to P5.8 billion, driven by percentage-of-completion accomplishments across residential developments.

CLI’s gross profit jumped 29 percent to P3.1 billion, while gross profit margin improved to 51 percent from 48 percent in the same period last year.

Operating expenses rose by only 4 percent, while finance costs declined 5 percent year-on-year.

Hotel revenues increased 14 percent to P119 million, leasing revenues rose 14 percent to P60 million, while management fees climbed 19 percent to P31 million.

The company recently opened the 144-room Radisson RED Cebu Mandaue within Astra Centre in Mandaue City, strengthening its hospitality business and expanding its recurring income assets.

As of end-2025, CLI’s property-for-sale portfolio covered 107 projects with 46,194 residential units valued at P176 billion. The portfolio was 92 percent sold.