CENTURY Properties Group Inc. (CPG) on Monday said it had topped pre-pandemic profits as it closed 2023 with a decade-high consolidated net income of P1.86 billion, up 32 percent from P1.4 billion in 2022.

Total revenues were said to have jumped by 14 percent to P12.7 billion, following sustained contributions from the company's first-home residential business, PHirst, which chipped in P7.4 billion — equivalent to 58 percent of the top line.

CPG's in-city vertical developments and commercial leasing segments, respectively, accounted for 27 percent (P3.49 billion) and 11 percent (P1.35 billion) of the total revenues, while its property management business contributed 4 percent (P463 million).

Ponciano Carreon Jr., chief finance officer, said in a statement that the 2023 performance demonstrated the company's "deliberate and prudent measures... to navigate through the challenges during the crisis period."

"We continue to serve the high demand for affordable, quality, and strategically located first homes and focus on the continued recovery of other real estate business segments," he added.

For in-city vertical developments, CPG President and Chief Executive Officer Marco Antonio said they were planning to launch several residential projects in Makati City, Quezon City, and San Fernando, Pampanga.

Meanwhile, five new projects — three in Region 4-A and two in Central Luzon — under the PHirst brand are expected to be launched this year. These developments cover 85 hectares of land and 8,000 units worth P18 billion in fresh inventory.

"We are also taking proactive strategies to sustain and enhance our financial performance in the coming months," Antonio said.

As of end-December 2023, the company's total assets reached P55.39 billion, while its total liabilities and total equity amounted to P35.08 billion and P20.3 billion, respectively.

CPG's share price closed 3.7 percent higher at 28 centavos on Monday.

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