CMC Achieves Remarkable Growth in Q1 2021 with Profit Surge of 2440%
Plans to Launch 3-4 New Projects Worth Approximately 6 Billion Baht

Dr. Wichian Patthayanun, CEO of Chao Phraya Mahakhan Public Company Limited (CMC), a real estate developer in high-potential locations, announced that the company's Q1 2021 performance is bright and continuously growing, with a net profit of 40.24 million baht, up from 41.95 million baht in the same quarter last year, representing a growth of 2440%. The revenue from property sales stood at 352.99 million baht.

 

The growth increased by 119.48 million baht or 51.17% compared to the same quarter last year, driven by revenue recognition from the ready-to-move-in project, Bangkok Horizon Light @ Phetkasem 48, which has seen continuous customer interest in transferring ownership. This success is attributed to targeted marketing strategies that meet real demand and improved cost management, along with customer confidence in product quality and service. As a result, CMC effectively navigated the challenges of the Thai real estate market in Q1 2021, signaling a positive outlook for sustainable growth.

 

In addition, CMC achieved over 700 million baht in pre-sales in Q1 2021 from the luxury condominium project, The Q Vibhavadi, which is completed and ready for occupancy. Currently, the company has a total of 2 billion baht in sales awaiting ownership transfer and over 3 billion baht in available units for sale. Ongoing projects include The Clef Riverline Chao Phraya-Wongsawang, Chateau in Town Ratchayothin, and Casa Diva Sathorn-Ring Road Phase 2-3, which will gradually recognize revenue from this year until 2026. Additionally, there are plans to launch 3-4 new projects this year worth approximately 6 billion baht, with a revenue recognition target of 3 billion baht and pre-sales of 6 billion baht for 2021.

“Although the initial COVID-19 situation was at a level of stabilization, CMC expects that as Thailand increases its vaccination rates and opens up in the future, the company will strive to operate its business to create sustainable value for the company, customers, stakeholders, and society as a whole. We believe that 2021 will be a year of great opportunities for CMC,” Dr. Wichian concluded.