Origin has reported its performance for the first 9 months, with sales exceeding 22.4 billion baht, against an annual target of 24 billion baht. The company revealed that Q4 has a substantial backlog ready for transfer, which will help achieve overall performance targets. They are confident that "Park Origin Thonglor" is receiving positive feedback, and in collaboration with Nomura, they are launching 2 more projects to continue developing projects consistently.

Mr. Pirapong Jarunek, CEO of Origin Property Public Company Limited (ORI), a developer of condominiums under the brands Park Origin, Knightsbridge, Notting Hill, Kensington, and the low-rise brand Britania, stated that the company's performance in the first 9 months of this year (January-September 2023) has been very strong, especially with sales that can recognize a backlog of up to 22.496 billion baht, accounting for 94% of the new annual sales target of 24 billion baht.

          "The overall response to our new projects this year has been very positive from consumers, particularly for our luxury flagship projects like Park Origin Phayathai and Park Origin Thonglor. Although Park Origin Thonglor has not officially launched for pre-sales, it has already achieved around 65% in sales," Mr. Pirapong said.

          In Q3 2023, the company reported revenue of 4.035 billion baht, growing 106% year-on-year, with accumulated revenue for the first 9 months at 10.693 billion baht, an increase of 166%. The net profit for the quarter was 892 million baht, up 60% from the same period last year, representing a net profit margin of 22%. Meanwhile, the net profit for the 9-month period reached 2.4 billion baht, growing 148% year-on-year, also with a net profit margin of 22%.

          Mr. Pirapong further stated that Q4 2023 is a crucial period that will help meet the annual performance targets. The company plans to launch 2 more low-rise projects: Britania Mega Town with a project value of 1.9 billion baht and Britania Bangna Km. 12 with a project value of 1 billion baht. Additionally, 2 new completed projects that will begin to recognize revenue during this period include Notting Hill Chatuchak and Notting Hill Sukhumvit 105. Given the strong performance over the past 9 months, the company is confident it will achieve its annual targets.

          "Moreover, our key partner, Nomura Real Estate Development Co., Ltd., continues to have strong confidence in our joint business operations. Recently, we have partnered with Nomura to invest in 2 additional projects: One Origin 24 and Park Origin Ratchathewi, bringing the total joint ventures in condominiums and hotels to 8 projects valued at approximately 30 billion baht over the past 2 years. In the future, we expect to continue investing around 15 billion baht annually to become a leader in the condominium and hotel business," Mr. Pirapong stated.

          Origin Property Public Company Limited has a diverse business structure, including 1. Residential development for sale (Project Development Business) with approximately 54 projects developed, totaling over 82 billion baht. 2. Recurring income business (Recurring Income Business) such as hotels, serviced apartments, and retail. 3. Service business (Service Business) such as property management, real estate agency, and consulting services, with a vision to continuously expand into new business types to become a comprehensive real estate operator.

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