AP Thailand Shows Strong Low-Rise Performance, Achieves First Quarter Revenue of Over 10.77 Billion Baht with a Total Backlog of 33.7 Billion Baht

Mr. Wittakarn Janthawimon Deputy Managing Director of Corporate Strategy and Innovation at AP Thailand Public Company Limited, stated, “In the first quarter, the company generated total revenue from low-rise products, condominium (100% JV), and other businesses of up to 10.77 Billion Baht, an increase of 58% compared to the same period last year, which had total revenue of 6.82 Billion Baht. Net profit was over 1.4 Billion Baht, up from 618 Million Baht in the same period last year, representing a growth of 127%.”

The ongoing pandemic continues to inflict damage on the economy without end. Many view the past year as challenging for business operations, but the new wave of outbreaks clearly reflects the difficulties and challenges that lie ahead. For the survival of real estate development businesses, in addition to managing internal readiness and cash flow, having ready-to-sell products distributed across various locations is another key strategy that drives AP's success by expanding opportunities, especially in the low-rise product segment, which remains a superstar. The company has seen total revenue from low-rise products grow in every quarter, reflecting the strength that comes from within to adapt to the changing global rules,”

In 2021, the company aims to develop real estate projects covering the entire country with up to 144 projects, with ready-to-sell value exceeding 115.48 Billion Baht. As of April 30, 2021, the company had a backlog of 33.7 Billion Baht, which is expected to generate total revenue (including 100% JV) according to the target of 43.1 Billion Baht. In June, the company is preparing to launch 3 new projects with a total value of 1.76 Billion Baht, including 2 single-detached house projects valued at 1.65 Billion Baht, comprising CENTRO Ratchaphruek-Suan Phak 3, CENTRO Phaholyothin-Vibhavadi 2, and a home office project, District Ramindra-Jatujoti, valued at 110 Million Baht. In the second half of the year, the company is set to recognize revenue from the transfer of ownership of 2 new condominiums, LIFE Ladprao Valley and LIFE Asoke Hype, with a total value of 12.3 Billion Baht.

The company continues to execute its business plan with caution while being ready to adapt quickly through cash flow management under the organization's overarching mission, “EMPOWER LIVING,” which aims to deliver a better quality of life that customers can choose through valuable and meaningful products and services.