Lalin Property Announces First Quarter Results
Continuous Growth with Revenue of 1,524 Million Baht and Net Profit of 320 Million Baht, Expanding by 29.4%

Lalin Property Public Company Limited announced its first quarter results for 2021, continuing to perform outstandingly above the industry average. The company recorded revenue of 1,524 million baht, a growth of 21.5% compared to the same period last year, while maintaining effective cost management, resulting in a net profit of 320 million baht, an increase of 29.4%.

Mr. Chaiyan Chakarakul, CEO of Lalin Property Public Company Limited, a real estate developer under the concept of “Homes Built on Good Intentions,” commented on the first quarter results, stating that despite negative factors from the second wave of the COVID-19 pandemic affecting migrant workers, which began in late 2020 and continued into early 2021, Lalin has managed operations professionally, focusing on the Real Demand market and employing strategies to enhance competitiveness by prioritizing product quality, service quality, and controlling various costs to deliver homes to customers at a reasonable price. This has allowed the company to remain competitive even in a stagnant market. In the first quarter, the company achieved revenue from sales of 1,524 million baht, a growth of 21.5% compared to the same period last year, which is considered growth contrary to the contracting industry. Additionally, the company maintained its ability to manage costs effectively, keeping its gross profit margin above the industry average at 39.1%. Meanwhile, the management of selling and marketing expenses has become more efficient, with increased use of E-Marketing, resulting in a decrease in selling expenses as a percentage of sales from 6% in the same period last year to 4.5% in the current quarter. Consequently, in the first quarter of 2021, the company achieved a net profit of 320 million baht, an increase of 29.4%.
 

In terms of financial risk management, the company has implemented strict risk management practices, utilizing a diverse range of funding sources, both short-term and long-term, and maintaining an unused credit line of over 2,500 million baht. The company has a strong financial position, even while continuously investing in new projects over the past 5-6 years, with a debt-to-equity ratio (D/E Ratio) at the end of the first quarter of only 0.64, significantly lower than the market average of around 1.5. For this year’s business expansion plan, the company aims to launch 10-12 new projects with a total value of approximately 6,000-7,000 million baht, part of which will replace existing projects that will gradually close. Earlier this year, the company has already launched 5 new projects with a total value of approximately 3,550 million baht and is preparing to launch an additional 2 projects, bringing the total project value to around 4,600 million baht. The company is proceeding with caution in its business expansion, gradually opening projects to assess market response while closely monitoring the situation of the third wave of COVID-19 to implement appropriate strategies.