Haus Talk’s debut, growth potential pique investors
INVESTORS snatched up residential real estate developer Haus Talk, Inc. last week, banking on its growth potential after its debut.
Haus Talk ended as the 14th most active trading stock, with P626.99-million worth of 394.53 million shares reported in the Philippine Stock Exchange (PSE) in the trading week of Jan. 17-21.
Despite a strong debut on Monday, shares in Haus Talk closed at P1.50 apiece on Friday, unchanged from its initial public offering (IPO) price.
“Due to its huge landbank, the growth potential of HTI is what made its strong movement on the first week of its market debut,” Mercantile Securities Corp. Analyst Jeff Radley C. See said in a Viber message, referring to the company’s ticker symbol.
Haus Talk’s performance during its debut on Monday reflected investors’ optimism on the company and the niche market segment it serves, Timson Securities Trader Darren Blaine T. Pangan said in a separate Viber message.
Haus Talk — listed on the small, medium, and emerging board — was the first company to debut this year.
It had raised P700 million from its IPO. Bulk of the proceeds (64%) will be used for land acquisition, 30% for project development, and the remaining for general corporate purposes.
It plans to buy bigger plots of lands worth around P640 million for its projects for development from 2022 up to 2024, its prospectus said. These lands are located in Antipolo City, Rizal; Bacoor, Cavite; and Calasiao, Pangasinan.
The residential real estate developer was organized in 2004 and is run by Pampanga-based Madlambayan family. Its projects are based in Antipolo City and Laguna province.
To date, the company completed 10 projects that cater to economic, mid-, and high-end market segments. Six of these projects were undertaken by the company’s wholly owned subsidiary, Tradition Homes, Inc.
In the nine months to Septmber 2021, Haus Talk’s revenue surged by 164% to P173.99 million, it said in a disclosure last Friday. It attributed the growth to new projects in Antipolo City (East View Residence Premiere) and San Pedro, Laguna (South View Homes Calendola), which comprised 53% of the total sales.
Its bottom line likewise “increased by 107%,” without providing the net income figures for the period.
“Consistent earnings would compel traders and investors to look after the real estate company,” Mr. See said.
Mr. See placed Haus Talk’s primary support at P1.45 and its resistance at P1.70.
“We’ll have to see in the coming days if support at P1.49 holds; otherwise, P1.65 seems to be the resistance level to watch for this issue,” Mr. Pangan said.