MANILA, Philippines — Italpinas Development Corp. (IDC), a boutique real estate developer, reported a significant 27% decline in net income for 2025, dropping to P250.9 million. This downturn occurred even as the company experienced a robust 29.9% increase in sales, which reached P784.7 million, fueled by strong demand for its ongoing residential projects.
The profit contraction was primarily attributed to rising interest expenses and reduced appraisal gains, which offset the positive momentum from higher sales volumes. The company disclosed these financial results in a statement released on Monday.