PT PP (Persero)

What PT PP (Persero) does

PT PP (Persero) Tbk is an Indonesian State-Owned Enterprise (BUMN) founded in 1953, listed on the Indonesia Stock Exchange under ticker PTPP, and operating as an integrated construction and investment company. The Government of the Republic of Indonesia holds 51% of shares, with the remaining 49% publicly traded. The company delivers construction services through five business lines — building construction, civil/infrastructure, EPC (energy), specialty projects, and plant & equipment — and generates investment returns through majority-owned subsidiaries spanning toll roads (PT PP Semarang Demak), energy (PT PP Energi, 99.09%), property (PT PP Properti, 64.96%), urban development (PT PP Urban, 99.99%), and precision construction (PT PP Presisi, 76.99%).

Its core technology platform is Building Information Modeling (BIM), applied across all major divisions for planning, design, coordination, and project management. The company has achieved multiple ASEAN BIM Competition wins (notably the 2023 IKN State Palace project), holds 9 ISO certifications, 11 copyrights/patents, 25 MURI records, and over 186 documented technology breakthroughs. Sustainability capability is evidenced by more than 30 Green Building certified projects (7 Platinum, 19 Gold, 5 Silver GBCI certifications), ISO 14001:2015 environmental certification, and a Sustainalytics ESG Risk Rating of 32.3 — the best among Indonesian construction peers.

The business model combines project-based construction contracts (one-time revenue per contract, ranging from Rp93 billion to over Rp1.3 trillion) with recurring investment returns from subsidiary and joint-venture stakes. Customers are primarily the Government of Indonesia and state-owned enterprises, supplemented by private-sector developers, healthcare (Bali International Hospital), transport (KAI), and energy sector clients. As of 2024, the company reported Rp57.778 trillion in total assets and Rp8.793 trillion in operating income (down from Rp18.921 trillion in 2022), with a 279% debt-to-equity ratio that has triggered a coordinated restructuring alongside peer PT Adhi Karya under BP BUMN and Himbara banks (announced July 2026).

Name

PT PP (Persero)

Legal name

PT PP (Persero) TbK

Website

https://ptpp.co.id

Company type

Public

Founded year

1953

Operating status

Operating

Headcount range

1,001–5,000 employees

Ownership category

akta.pro rank

Headquarters

HQ city

Jakarta

HQ country

Indonesia

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Supply Chain, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Construction Contracts: PT PP generates the majority of its revenue through construction contracts spanning building construction, civil/infrastructure works, EPC (Engineering, Procurement & Construction), specialty projects, and plant & equipment services. Projects include toll roads, dams, airports, stadiums, commercial buildings, and power plants across Indonesia. Revenue is project-based, one-time per contract, with contract values ranging from hundreds of billions to trillions of Indonesian Rupiah.
2. Investment & Ownership Returns: PT PP generates returns through ownership stakes in subsidiaries and joint ventures across infrastructure (toll roads), property, energy, and urban development. Subsidiaries include PT PP Infrastruktur (99%), PT PP Energi (99.09%), PT PP Urban (99.99%), PT PP Properti (64.96%), and PT PP Presisi (76.99%), among others.
3. Sukuk and Bond Instruments: PT PP raises capital through issuance of Sharia-compliant Mudharabah Sukuk and conventional bonds, including Shelf Registration Bonds III and Sustainable Mudharabah Sukuk I series with values ranging from Rp100 billion to Rp650 billion per tranche.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

PT PP (Persero) Tbk is an Indonesian State-Owned construction and investment company that delivers building construction, civil/infrastructure works, EPC (Engineering, Procurement & Construction) for energy projects, specialty projects, plant construction, and equipment services. The company also invests in infrastructure assets (toll roads), property, and energy through wholly- and majority-owned subsidiaries. Project scopes span toll roads, dams, airports, ports, stadiums, power plants, commercial buildings, hospitals, and government facilities across Indonesia.

Product overview

PT PP (Persero) Tb k is a State-Owned Enterprise (SOE) established in 1953 operating as an integrated construction and investment company in Indonesia. The company offers a comprehensive portfolio organized into two main divisions: Construction services (Building, Civil/Infrastructure, EPC, Specialty Projects, Plant, and Equipment) and Investment (Infrastructure, Property, and Energy). The construction operations are delivered through core business units, while investments are managed through subsidiaries including PT PP Urban (urban development), PT PP Infrastruktur (infrastructure), PT PP Energi (energy), PT PP Properti Tbk (property development), and PT PP Presisi Tbk (precision construction). The company has handled over 30 Green Building certified projects and serves as a founding member of the Indonesian Green Building Council (GBCI).

Differentiator

Problem solved

Functional benefit

Products and services

• Building Construction

Quantifiable outcome

• 120.8% YoY growth in new contracts secured in January 2026, reaching Rp2.76 trillion
• +4 more outcomes

Named customers8 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Five partnerships are on record, tiered core.

• BP BUMN (State-Owned Enterprises Regulatory Agency)coreOthers · 2 July 2026BP BUMN is coordinating with Himbara banks to support the financial restructuring of PT PP and PT Adhi Karya. BP BUMN Head Dony Oskaria chaired a high-level meeting with boards of Bank Mandiri, BRI, and BNI alongside the two construction companies to evaluate restructuring progress and design sustainable financing frameworks. The restructuring aims to strengthen financial fundamentals, improve governance, and ensure financing is directed only toward productive, commercially viable infrastructure projects.
• PT Adhi Karya (Persero) TbKcoreStrategic or Co-development PartnerPT Adhi Karya and PT PP are the two SOE construction companies being restructured under the coordination of BP BUMN and Himbara banks. The joint restructuring aims to strengthen financial fundamentals and improve governance of both companies.
• Green Building Council Indonesia (GBCI)coreStrategic or Co-development PartnerPT PP is one of the founding members of the Indonesian Green Building Council (GBCI). PT PP actively contributes to green building development through employee certification (Greenship Associate and Professional), serving as teaching staff and assessors, and participating in drafting green building regulations at local and national levels.
• GBCI (Green Building Council Indonesia)coreStrategic or Co-development PartnerPT PP serves as a corporate founder of GBCI, participates in drafting regulations at local and national levels (including Governor of DKI Jakarta regulations and Minister of Public Works regulations on Green Buildings), provides resource persons for green building knowledge sharing, supports research funding, and serves as a training instructor and assessor for GBCI's Greenship Rating Tools.
• Indonesian Ministry of Public Works and Housing (PUPR)coreStrategic or Co-development PartnerPT PP participates in drafting regulations at the local and national levels, including regulations of the Governor of DKI Jakarta and the Regulation of the Minister of Public Works regarding Green Buildings. PT PP also implements Ministerial Regulation No. 9/2021 on Sustainable Construction.

Scale indicators10 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• PT Adhi Karya (Persero) Tbk: Indonesian state-owned construction SOE directly comparable in scale, mandate, and business mix (buildings, infrastructure, EPC, property). Currently being jointly restructured with PT PP under BP BUMN coordination, indicating near-identical business model and risk profile.
• PT Nindya Karya (Persero): Indonesian SOE construction company delivering buildings, water infrastructure, roads and EPC projects. Comparable mid-sized SOE peer with similar government customer base and project types.
• PT Hutama Karya (Persero): Indonesian SOE focused on heavy infrastructure (toll roads, bridges, dams, ports) and building construction. State-owned mandate makes it a direct public-sector competitor to PT PP for the same large national projects.
• PT Wijaya Karya (Persero) Tbk: One of Indonesia's largest SOE construction and EPC contractors, operating across buildings, infrastructure, energy and property — directly overlapping PT PP's core segments and competing for the same government and SOE project pipeline.

Broad incumbents

• PT Total Bangun Persada Tbk: Established Indonesian construction company with similar building and civil works focus, serving both private and public sector clients — provides a market benchmark for privately operated Indonesian contractors.
• PT Surya Semesta Internusa Tbk: Listed Indonesian construction and property group with comparable building and infrastructure capabilities, though privately led rather than state-owned. Useful benchmark for non-SOE construction economics in Indonesia.
• China State Construction Engineering Corporation: One of the world's largest state-affiliated construction groups, with global operations in buildings, infrastructure and EPC. Represents the broader incumbent scale benchmark that PT PP competes against in mega-projects.

Regional players

• IJM Corporation Berhad: Diversified Malaysian construction, property and industry group with strong regional infrastructure EPC capabilities. Comparable in scale and integrated construction-investment model, though Malaysia-focused.
• Gamuda Berhad: Major Malaysian construction and infrastructure developer with comparable portfolio across buildings, expressways, water and tunneling. Operates in a different geography but with highly similar large-scale civil/EPC business model.

Emerging players

• Hyundai Engineering & Construction: Korean EPC and infrastructure contractor active across Southeast Asia in power plants, plants, and civil works — a credible competitor for the same energy and industrial EPC tenders that PT PP pursues in Indonesia.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/PTPP_ID
• Facebookfacebook.com/ptpptbk
• LinkedInlinkedin.com/company/park-hotel---jakarta

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries9 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about PT PP (Persero)