"Origin" has showcased its performance for the nine-month period of 2017, achieving a net profit close to 1 billion baht, marking a historic growth of over 202% compared to 2016. The company maintains a strong gross profit margin of 46.6%, which is an increase from the 43.9% margin in Q3 2016, while also doubling its revenue due to a robust backlog, preparing for a strong Q4 and laying the foundation for its 2018 plans.

          Mr. Pirapong Jarunek, CEO of Origin Property Public Company Limited (ORI), a developer of condominium projects under the Kensington, Notting Hill, Knightbridge, and Park brands, revealed that in Q3 2017, the company had total revenue of 1,959.9 million baht, an increase of 66.6% (QoQ) from Q2 2017 and a remarkable 121.5% (YoY) from the same period last year. For the nine-month period of 2017, revenue reached 4,014.3 million baht, up 111.3% (YoY) from the previous year, primarily driven by six new projects that began transferring ownership as planned. Additionally, the company recognized special profits from its joint venture with Nomura Real Estate Development Co., Ltd., a leading real estate developer in Japan with over 60 years of successful business experience in Asia and around the world, holding the number one market share in the residential sector and having the most popular condominium brands in Japan, which enhances the competitive capabilities of the group in expanding project development and increasing market share.

          Meanwhile, the gross profit for Q3 2017 was 779.3 million baht, growing 45.4% (QoQ) from Q2 2017 and 107.2% (YoY) from the same period last year, representing a gross profit margin of 46.8%, which is higher than the 42.9% margin in Q3 2016. For the nine-month period of 2017, gross profit was 1,718.4 million baht, up 109.5% (YoY), with a gross profit margin of 46.6%, higher than the 43.9% margin in the same period of 2016, attributed to effective land acquisition strategies and ongoing project cost management.

          In Q3 2017, the net profit was 556.1 million baht, an increase of 132.9% (QoQ) from Q2 2017 and a significant 251.5% (YoY) from the same period last year, resulting in a net profit margin of 28.4%, which is higher than the 20.3% margin in Q2 2017 and 17.9% in Q3 2016. For the nine-month period of 2017, net profit was 966.7 million baht, growing 202.5% (YoY) from the previous year, with a net profit margin of 24.1%, higher than the 16.8% margin in the same period of 2016, due to the completion of new projects recognized as planned and improved gross profit margins, along with special profit recognition from the joint venture with Nomura Real Estate Development Co., Ltd., leading to strong growth in both revenue and profits for the company this quarter.

          "For Q4 2017, the company will focus on building a foundation for future growth while continuing to develop and launch new projects as planned, along with campaigns that meet the needs of residents to stimulate sales," Mr. Pirapong stated.

          Origin Property Public Company Limited has a diverse business structure, including 1. Project Development Business, having developed approximately 43 condominium projects with a total project value of over 44 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 sectors to become a comprehensive real estate operator.

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