PIK2 (PANI) Projected to Reach Rp 8.3 Trillion in Attributable Profit by 2029

JAKARTA, investortrust.id – PT Pantai Indah Kapuk Dua Tbk (PANI), a property developer controlled by business magnates Sugianto Kusuma (Aguan) and Anthony Salim, is projected to achieve a compound annual growth rate (CAGR) of 68% in net profit attributable to shareholders over the next five years. By 2029, the company’s profit is expected to reach Rp 8.3 trillion ($530 million).

According to a recent research report by Niko Pandowo, an analyst at Sucor Sekuritas, this projection is based on an estimated CAGR of 29% in PANI’s marketing sales through 2029.

Strong Sales and Revenue Growth

Sucor Sekuritas forecasts that PANI’s marketing sales will reach Rp 21 trillion ($1.34 billion) by 2029, driving the company’s revenue to approximately Rp 17 trillion ($1.1 billion) in the same year.

“The projected increase in marketing sales will significantly boost the company’s revenue, which in turn will lead to a substantial rise in net profit,” the report stated.

Infrastructure and Project Developments to Support Growth

The outlook for PANI’s flagship development, Pantai Indah Kapuk 2 (PIK2), is further supported by the upcoming completion of the 39-kilometer Kamal-Teluknaga-Rajeg toll road, which is expected to improve connectivity between PIK2 and Soekarno-Hatta International Airport. The improved accessibility is anticipated to increase traffic to PIK2 and enhance the value of the company’s ongoing developments, including a major convention center.

Additionally, PANI will benefit from its subsidiary, PT Bangun Kosambis Sukses Tbk (CBDK), which is developing the NICE Convention Center in the central business district (CBD) of PIK2. The first phase of the project, comprising three halls out of the planned 11, is scheduled to be operational by September 2025, with full completion expected in 2026.

Record-Breaking Performance in 2024

In 2024, PANI recorded a 131% surge in net profit attributable to shareholders, rising from Rp 270 billion ($17.2 million) to Rp 624 billion ($39.8 million). This sharp increase was driven by strong revenue growth, which climbed from Rp 2.15 trillion ($137 million) to Rp 2.83 trillion ($181 million).

The company’s marketing sales also saw a dramatic increase, reaching Rp 6.01 trillion ($383 million) in 2024—a 156% rise from the previous year’s Rp 2.4 trillion ($153 million). This figure even surpassed the management’s revised target of Rp 6 trillion ($382 million).