Ananda Development Public Company Limited, or ANAN, a leader in urban residential development and the top market player in condominium projects near BTS stations, has showcased its potential with impressive business growth. The company announced its Q1/2019 results, reporting a net profit of 232 million baht, a 61% increase compared to the same quarter last year, driven by strong profits from joint venture projects. The total transfer volume for all projects in the first quarter reached 5.631 billion baht, exceeding the target by 39% and increasing by 47% from the same period last year. Additionally, first-quarter sales amounted to 4.815 billion baht, surpassing the target by 19%.

Mr. Chanont Ruangkritya, CEO and Managing Director of Ananda Development Public Company Limited, stated, "The performance in the first quarter is very satisfactory, with a net profit of 232 million baht, up 61%. This growth comes from profit sharing from joint venture projects, which the company has consistently pushed forward with its main partner, Mitsui Fudosan. We have also performed well in both transfer volume and sales, exceeding our targets by 39% and 19%, respectively."

As of the end of Q1 2019, the company maintains a strong backlog of 37 billion baht to support transfer growth over the next three years. Furthermore, the company plans to launch three new projects in Q2, with a total project value of 12.5 billion baht, including the IDEO Q Phaholyothin-Saphankwai, the largest highlight project of Ananda valued at 9.765 billion baht, which will be launched soon in Q2. Ananda aims to complete the project for transfer in 2021. Additionally, two horizontal projects will be launched in Q2, with a total project value of 2.7 billion baht, namely the Unio Town Pracha Uthit 76 and URBANIO Chaeng Watthana, a new horizontal brand from Ananda also set to launch in the second quarter.

The company's entire business plan supports continuous growth and emphasizes its leadership in the condominium market near BTS stations in Thailand. The company remains committed to its annual targets following its performance that aligns with expectations.

Mr. Chanont further stated, "However, the company continues to maintain strict financial discipline, aiming to keep the net interest-bearing debt-to-equity ratio at 1 time as a long-term goal. We must ensure that the company's growth does not increase risks that could impact its long-term stability."

Thank you for the information from www.ananda.co.th