Diversified Revenue StreamsMultiple revenue channels (property sales, leasing income, and management fees) provide structural resilience across market cycles. This mix smooths cash generation timing, supports recurring income during softer sales periods, and underpins long-term cash-flow visibility for reinvestment and debt servicing.
Relatively Steadier Balance SheetModerate leverage and a stable equity ratio indicate financial flexibility versus peers in development cycles. This structural balance reduces refinancing risk during downturns, supports opportunistic land acquisitions, and allows measured capital allocation without immediate pressure from excessive debt servicing.
Positive Operating Cash Generation Vs Net LossesGenerating operating cash while reporting accounting losses suggests core project cash receipts remain intact. Durable operating cash supports working capital, funds ongoing developments, and cushions liquidity needs even as accounting profitability recovers, enabling steadier execution of long-term projects.