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Senin, 15 Agustus 2011

Property developer Alam Sutera (ASRI IJ) update from Sarina Lesmina - CLSA

ASRI announced July marketing sales of Rp313bn, which resulted in 7M11 sales of Rp1.33tn (75% of company’s full year target.
Recent launch is Jingga, a new sub cluster of Sutera Sitara in its Serpong site, with total gross area of 8.5 ha. Total cluster consists of 115 units of houses and 22 units of lots. Average selling price of land is Rp6.6m psm.
ASRI’s FY target of Rp1.75tn is a 9% YoY increase from FY10; we believe that this FY target can be surpassed. The company will launch Pasar Kemis in October; Rp200bn sales are expected from the initial launch.
Posted by Saham Pilihan at 22.51

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