Supalai Public Company Limited has announced its Q1 2019 financial results, showing remarkable growth with a net profit of 1,527 million baht, an increase of 65%, and total revenue of 6,415 million baht, up 39%. The company is preparing to launch new horizontal and condominium projects continuously in Q2, covering Bangkok, its suburbs, and regional cities to achieve its set targets.

          Mr. Traitecha Tangmattatham, Managing Director of Supalai Public Company Limited, revealed that in Q1 2019, compared to 2018, the company achieved outstanding results in terms of net profit and total revenue, with a net profit of 1,527 million baht, a 65% increase, and total revenue of 6,415 million baht, a 39% increase. The primary revenue source came from the gradual delivery of condominiums and horizontal projects to customers, along with factors from the Bank of Thailand's announcement of regulations on housing loans, which set a ceiling on the loan-to-value (LTV) ratio effective from April 1, 2019, leading some customers to decide to transfer ownership in this quarter. The revenue breakdown was 55% from horizontal projects and 45% from condominium projects.

          The shareholders' equity grew by 4%, with a debt-to-equity ratio of 32%. The average cost of financing was 2.50% per year as of March 31, 2019, and the backlog amounted to approximately 41,905 million baht as of March 31, 2019. It is expected that 12,012 million baht will be gradually transferred to customers and recognized as revenue in 2019, with the remaining 29,893 million baht over the next three years to support the company's future revenue growth.

          In Q1, the company launched 4 new projects, with a total value of 2,300 million baht, consisting of 3 horizontal projects and 1 condominium project, achieving sales of 6,280 million baht. For Q2, the company plans to launch 7 new projects valued at over 18,400 million baht, including 6 horizontal projects and 1 condominium project in Bangkok, its suburbs, and regional cities, aiming to drive sales to 35,000 million baht. Additionally, there are plans to transfer ownership of 4 completed condominium projects ready for occupancy within this year to achieve the overall revenue target of 28,000 million baht.

 

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