"Origin" has showcased its Q2/60 performance with profits soaring by 227% compared to Q2/59, contrasting with the declining profits in the real estate market. The company has doubled its revenue and revealed a strong backlog, ready to recognize continuous income. They are set to hold the "My Life. My Origin" event at Siam Paragon, aiming to boost Q3 sales.

          Mr. Pirapong Jarunek, CEO of Origin Property Public Company Limited (ORI), a developer of condominium projects under the Kensington, Notting Hill, and KnightBridge brands, disclosed that the company’s Q2/2560 performance recorded a gross profit of 550.7 million baht, growing by 145.2% from Q2/2559, with a gross profit margin of 46.1%. Meanwhile, the net profit reached 238.7 million baht, an increase of 226.6% compared to the same period last year, resulting in a net profit margin of 20.3%. Overall, the first half of the year has seen a profit of 410.7 million baht, contrary to the overall market trend.

In Q2/2560, the company’s revenue stood at 1,176.4 million baht, marking a 140.6% increase from Q2/2559, with total revenue for the first half reaching 2,054.4 million baht.

          "During Q2, the company continued to recognize income from 4 projects that were carried over from 2559 and has 3 new projects ready for transfer of ownership, including KnightBridge Sky City in Saphan Mai, Pos Sukhumvit 103, and Notting Hill Charoen Krung, which were completed ahead of schedule, allowing both revenue and profits to grow strongly this quarter," Mr. Pirapong stated.

          At the same time, the company’s backlog stood at 25,285 million baht at the end of the first half, boosted by collaboration with Proud Residence Co., Ltd., making it one of the top five companies in the market in terms of backlog.

          Mr. Pirapong further stated that for Q3/2560, the company will continue to generate new sales. From August 17-20, the company will present a total of 8 projects at the Mega Home-Condos and Loans Expo 2017 at the Queen Sirikit National Convention Center and the Think of Living Living Expo at Siam Paragon, along with the Stunning Price campaign offering buyers 3 years of free living to encourage purchasing decisions.

         Additionally, on September 16-17, at Fashion Hall and Royal Paragon Hall 3 at Siam Paragon, the company will host a grand event titled "My Life. My Origin," showcasing Origin Property's standout projects, including new projects set to launch at the end of Q3, allowing consumers to explore and purchase projects of interest. This event is expected to play a significant role in driving sales for Q3.

          Origin Property Public Company Limited has a diverse business structure, including 1. Project Development Business, having developed approximately 38 condominium projects with a total project value exceeding 36 billion baht; 2. Recurring Income Business, such as hotels, serviced apartments, and retail; 3. Service Business, including property management, real estate brokerage, and consulting services, with a vision to continuously expand into new business areas to become a comprehensive real estate operator.

 

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