"Origin" has established itself as a major player in the real estate sector, launching residential projects with an accumulated value exceeding 100 billion baht in 2019, reflecting customer confidence. By the end of the year, the company expects its housing business portfolio to grow by 15%, following a revised target for new project launches totaling 8 billion baht. This showcases the New S Curve business strategy, driving revenue growth to reach 30 billion baht by 2022.

          Mr. Pirapong Jarunek, CEO of Origin Property Public Company Limited (ORI), a comprehensive real estate developer, revealed that after the company established a vision for developing a full-scale real estate business and continuously launched new projects in potential locations, it is expected that this year the company will have launched residential projects with an accumulated value exceeding 100 billion baht. This achievement places it among the few listed real estate companies that can launch projects surpassing this milestone and demonstrates the company's ability to develop projects that receive consistent positive responses, achieving this within 10 years. Currently, the company has a strong backlog of 34 billion baht at the end of Q1, which will generate revenue over the next three years.

          The company anticipates that by the end of 2019, the revenue proportion from various business segments will change. Previously, 80% of revenue came from the condominium business, while 10% came from the housing development business. However, this year, revenue from the housing development business is expected to increase to 15%, and the overall company is expected to maintain a gross profit margin of around 40%.

          "The housing development business may not be as profitable as the condominium business, but it allows for quicker turnover, averaging 1.5-2 cycles per year, enabling the company to improve overall revenue and profits. In the first quarter of this year, the company began generating revenue from new projects that started transferring ownership and recognizing additional revenue from two projects: Britania Mega Town Bangna and Britania Bangna Km. 12," said Mr. Pirapong.

          Meanwhile, the company has adjusted its target for launching housing projects under the Britania brand to six projects, with a total project value of 8 billion baht. By the third quarter of this year, the company will also launch condominium projects targeting first-time condo buyers and startups under The Origin brand.

          Mr. Pirapong further stated that the company's five-year plan aims for an average annual revenue growth of about 15%, which would result in total revenue across all business segments reaching 30 billion baht by 2022, up from 16.638 billion in 2018. Currently, the company has a quality backlog of approximately 34 billion baht, which will be recognized as revenue until 2024, reinforcing the feasibility of the company's growth plans.

          "We have a vision for the short, medium, and long term in our business operations by continuously creating New S Curve or new businesses, such as revenue-generating businesses like hotels, which will start generating income for the first time in the fourth quarter of this year from two projects: Staybridge Suites Bangkok Thonglor and Holiday Inn & Suites Sriracha. This entire vision allows us to become a company with stable and sustainable revenue growth," Mr. Pirapong concluded.

Thank you for the information from origin.co.th