DMCI Holdings, Inc. more than doubled its consolidated net income in the first nine months of 2009 to P3.2 billion from the P1.4 billion registered in the same period last year.

The firm disclosed to the Philippine Stock Exchange that major improvements coming from the water segment coupled with the growth in the coal mining and construction businesses contributed to the jump in bottom figure.

DMCI’s investment in the water sector is recognized through a consortium company owned with Metro Pacific Investments Corporation and operated through Maynilad Water Services, Inc., the water utility for the west portion of Metro Manila.

Net contributions for the nine month period from the water business recognized a significant growth from a net loss of P62 million in 2008 to P1.4 billion in 2009 due mainly to operational progress and non-recurring items at both years.

Maynilad’s water and sewer revenues for the period grew 29 percent from P5.7 billion last year to P7.4 billion this year due mainly to the improvement in billed volumes and the increase in the tariff rate of 22.3 percent.

DMCI’s construction business provided P587 million in net contributions for the first nine months this year compared to P399 million last year, recording a significant 47 percent increase.

Development in local buildings and infrastructure projects boosted the general construction business while offshore works catapulted the steel fabrication segment.

DMCI’s real estate business, focused purely on residential development under the brand name DMCI Homes, recognized a 35 percent drop in net contributions from P748 million last year to P483 million this year as recognition of sold units went down.

The recognized sold units for this period were mostly high-rise units which cost higher and normally take longer to complete. Revenues from new projects couldn’t make up for the drop in recognized revenues from existing projects.