SC has showcased its growth performance with total revenue of 10,947 million baht in 9 months, a 15% growth in horizontal projects, and a net profit of 1,039 million baht. The company is ready to push forward in the final quarter with 55 projects available for sale, accelerating the transfer of completed condominiums, confident in achieving its annual targets.

            Mr. Atthapol Surasithipanthawat, Chief Support Officer of SC Asset Corporation Public Company Limited (SC), a leading quality real estate developer and Living Solutions Provider, revealed that “In the first 9 months of 2019, SC achieved total revenue of 10,947 million baht, a 7% increase compared to the same period last year, with a net profit of 1,039 million baht. The main revenue (94%) came from sales revenue of 10,256 million baht, with a breakdown of 79% from horizontal projects and 21% from high-rise projects. The horizontal portfolio showed strong growth, generating 8,072 million baht, a 15% increase, while sales revenue from high-rise projects was 2,184 million baht, with over 50% of condominium customers making cash transfers, alongside total sales of 11,444 million baht.

            Additionally, the backlog of sales awaiting transfer is approximately 11,027 million baht, with about 50% expected to be recognized as revenue this year from both horizontal and high-rise projects. Among the completed and ready-to-move-in condominiums, besides the SALADAENG ONE and BEATNIQ projects on Sukhumvit 32, there are two more condominiums starting to transfer ownership:

  1. 28 CHIDLOM, located 250 meters from BTS Chidlom, with prices starting at 12.5 million baht, began transferring in September 2019.
  2. CENTRIC RATCHAYOTHIN, located 150 meters from BTS Ratchayothin, with prices starting at 5.69 million baht, will start transferring this December.”

            For the third quarter of 2019, the company reported sales of 4,421 million baht and total revenue of 4,249 million baht, consisting of sales revenue of 4,020 million baht and rental and service income of 224 million baht, with a net profit of 441 million baht.

            As of September 30, 2019, the company and its subsidiaries had total assets and liabilities of 46,608 million baht and 30,005 million baht, respectively.

            Mr. Atthapol stated, “SC has 50 ongoing projects for sale and will launch 5 new projects in the fourth quarter, bringing the total to 55 projects with a combined value of approximately 48,000 million baht, consisting of 44 horizontal projects and 11 high-rise projects, including the new condominium project Chamber On Nut Station, which has started selling units in buildings B and C with prices starting at 3.49 million baht. The construction of this project is nearly 100% complete and will also start transferring in December. The existing backlog and increased new sales will support SC's revenue growth to meet its targets.”

For inquiries and to visit new projects, please call 1749 or visit www.scasset.com.

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