Jakarta. Pantai Indah Kapuk Dua (IDX:PANI) delivered record first-half earnings in 2026, with net profit surging nearly fivefold as land and property handovers across PIK2 fueled strong revenue growth.

 Pantai Indah Kapuk Dua, the developer behind the PIK2 township, reported first-half revenue of Rp 2.9 trillion ($160.77 million), up 78% from a year earlier. Net profit attributable to the parent company soared 484% year-on-year to Rp 1.7 trillion, marking the highest first-half earnings in the company's history.

President Director Sugianto Kusuma, widely known as Aguan, said the strong performance reinforced PANI's position as one of Indonesia's leading property developers.

"The 78% year-on-year increase in revenue and the strong performance in the second quarter mark an extraordinary milestone in PANI's journey. It shows that the market continues to trust PANI as one of Indonesia's leading property developers," Aguan said in a statement on Tuesday.

He said the results would serve as a benchmark for the company as it continues developing high-value projects supported by a sustainable ecosystem.

"Looking back just three years ago, we recorded first-half revenue of Rp 1.2 trillion and net profit of Rp 211 billion. This remarkable achievement reflects PANI's commitment to the business transformation launched in 2021, with the results now evident in this quarter's financial performance," he added.

The earnings growth was primarily driven by land handovers in the PIK2 central business district (CBD), which became the company's largest revenue contributor. Additional revenue came from the handover of residential and commercial properties across several PIK2 developments, including Rumah Milenial, Permata Hijau Residences, Manhattan Residences, Pantai Bukit Villa, Bukit Nirmala, and Pasir Putih Residences.

In the second quarter alone, PANI posted sales of Rp 1.8 trillion, up 63% from the previous quarter. Net profit attributable to the parent company reached Rp 1.1 trillion, an 89% quarter-on-quarter increase.

The company also strengthened its balance sheet, ending the first half with net cash of Rp 3.9 trillion, while total equity rose 7% from the end of 2025 to Rp 33.7 trillion.

PANI currently manages a 1,809-hectare land bank through 12 subsidiaries. The land, acquired at a total cost of Rp 38 trillion, was funded through rights issues and non-preemptive rights issues conducted over the past three years.

The company said its sizeable land bank provides a foundation for sustainable long-term growth while continuing to create value for shareholders and other stakeholders.

PANI shares closed up 450 points, or 7.26%, at Rp 6,650 on Tuesday, giving the company a market capitalization of Rp 120.96 trillion.

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