Yanlord Land Group profits skyrocketed 61% to $201.1m in Q3

It was boosted by significant increases in GFA delivered to customers.

Yanlord Land Group recorded a profit jump of 61% YoY to $201.1m (RMB1.01b) in Q3, an announcement revealed. The firm’s revenue also climbed 52% YoY to $1.13b (RMB5.71m).

The firm revealed that the revenue climb was backed by the significant increases in gross floor area (GFA) delivered to customers for the periods under review as compared to last year paired with the higher average selling price (ASP) psm achieved for the period.

“Riding on the strong momentum, we are positive about the outlook for FY 2018 and will continue to build on our strong brand equity and premium landbank to further enhance our future pre-sales accumulation effortsm,” Yanlord chairman and CEO Zhong Sheng Jian said.

The firm revealed that it will continue to launch new projects and new batches of its existing projects in 4Q 2018 namely, Yanlord Riverbay Phase 3 in Chengdu, Hangzhou Intelligent City Project - Commercial Land Parcels in Hangzhou, Yanlord Phoenix Hill and Yanlord Taoyuan Gardens, amongst others.