A property issuer owned by Agung Sedayu and Salim Group, PT Pantai Indah Kapuk Dua Tbk (PANI), recorded a net profit attributable to the parent entity of Rp 285.86 billion in the first half of 2025. The profit performance only increased by 0.3% compared to the same period last year of Rp 284.86 billion, although revenue increased up to 22.2%.
According to the company's financial report, PANI managed to record revenue of Rp 1.64 trillion in the first half of this year, an increase compared to Rp 1.34 trillion in the first half of last year. Its revenue mainly came from land and building sales amounting to Rp 1.61 trillion. Meanwhile, rental income contributed Rp 448.34 million and other segments amounted to Rp 25.39 billion.
As income increased, PANI's cost of revenue also rose 14.4% year-on-year to Rp 680.07 billion from previously Rp 594.68 billion during the same period in 2024. Meanwhile, gross profit still increased by 28.37% from Rp 751.97 billion to Rp 965.36 billion.
Nevertheless, PANI recorded an increase in general and administrative expenses from Rp 125.47 billion to Rp 168.8 billion and final tax expenses from Rp 36.44 billion to Rp 105.73 billion. As a result, the operating profit only increased from Rp 565 billion to Rp 649 billion.
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Out of the total, the profit attributable to the parent entity was Rp 285.86 billion and the non-controlling interest was Rp 363.14 billion. Meanwhile, the EPS of PANI decreased from Rp 18.23 to Rp 16.93 for the first half of 2025.
Rumor Right Issue PANI
Property issuer of Sugianto Kusuma, alias Aguan, PT Pantai Indah Kapuk Dua Tbk (PANI) is reported to hold a corporate action this year. The company is reported to carry out Additional Capital with the Provision of Pre-emption Rights (PMHMETD) or rights issue.
There were reports that the property company would carry out a rights issue, with an estimated exercise price of around Rp 20,000 per share. The implementation is said to be completed by December 2025 this year.
What is the Prospect of PANI Rights Issue?
Analyst from MNC Securities, Hijjah Marhama, also known as Rahma, assesses that the implementation of the second right issue of PT Pantai Indah Kapuk Dua Tbk (PANI) has the potential to receive a different market response compared to previous times. This is due to various factors.
First , in his opinion, the current stock price of PANI is overvalued. Second, the level of marketing sales of PANI is still minimal. Third, government stimulus in the form of tax incentives, specifically the Government-Subsidized Value Added Tax (PPN DTP), is not very relevant for PANI's property segment, considering that the prices of houses offered are above Rp 5 billion.
"Market risk makes market participation potentially lower and overhang, or even selling pressure," said Rahma when contacted. Shiro Copr.co.id Quoted on Wednesday (8/6).
Rahma also mentioned that PANI's stock is projected to fall to the level of Rp 13,000 in the near future. Meanwhile, PANI's management previously denied the rumors about the corporate action plan. rights issue.
Corporate Secretary of Pantai Indah Kapuk Dua, Christy Grassela stated that the company has not yet made any plans to carry out a rights issue.
Nevertheless, she ensured that PANI would comply with the applicable regulations if the company had plans to carry out such an action. Christy also emphasized that the company remains open to various possibilities and alternative corporate actions, including PMHMETD, to support PANI's expansion plans and the long-term sustainability of PANI and its subsidiaries.
She stated that the business operated by PANI and its subsidiaries in the real estate sector has a very dynamic industry and requires continuous capital expenditure. As for one of the available options at present, it is external or internal financing.
"Fully, the company will consider all opportunities and possibilities open for the advancement and growth of PANI, thereby generating optimal returns for shareholders," he said in a BEI information disclosure on Thursday (7/24).
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