"KUN" demonstrates impressive performance with a 9-month profit surge of 160% despite COVID-19, accelerating year-end campaign "Pay 1,000 Baht per Million for Your Home," reaffirming sales this year are set to break records at 1.5 billion Baht - with revenue hitting a new high.

Villa Kunlaya Public Company Limited (KUN) is thriving against the COVID-19 trend, showcasing its 9-month financial results for 2021 with a net profit of 109.59 million Baht, an increase of 160%. Total revenue reached 697.40 million Baht, while in Q3/2021, the net profit was 42.09 million Baht, up 176.18% (YoY) due to sales soaring to 1.1 billion Baht. CEO "Prawirat Tevaakson" is confident that this year’s sales will likely break records, reaching 1.5 billion Baht, reinforcing the revenue outlook for a new high, signaling a vibrant real estate market with the year-end campaign for ready-to-move-in homes "Pay 1,000 Baht per Million" paving the way for 2022 with the launch of the new project "Kunlaya Navara."

Ms. Prawirat Tevaakson, CEO of Villa Kunlaya Public Company Limited (KUN), revealed that for the 9-month period of 2021, the company achieved total revenue of 697.40 million Baht, an increase of 40.11%, with a net profit of 109.59 million Baht, up 159.54% compared to the same period last year (YoY). This was driven by revenue recognition from sales increasing to 693.68 million Baht, or 39.81% (YoY), resulting in presales exceeding 1.1 billion Baht. The company is confident that in 2021, presales will reach 1.5 billion Baht, marking a record high, and overall revenue is expected to rise to a new high, with a target increase of 10-15% from the previous year.

In Q3/2021, the company reported total revenue of 251.28 million Baht, an increase of 47.20%, but a decrease in revenue proportion by 1.5% compared to the previous quarter (QoQ). The net profit for Q3/2021 was 42.09 million Baht, up 176.18% (YoY) and 2.40% (QoQ). Currently, the company has a backlog of 350 million Baht, which will be gradually recognized as revenue in Q4/2021.

The significant increase in performance is primarily due to continuous sales growth since early 2021, leading to higher transfers from revenue recognition in five main projects: Kunlaya Preem, Kunlaya Joy, Kunlaya Joy On 314, Kunlaya Begins 2, and Kunlaya Courtyard. As of the end of Q3/2021, the company had presales totaling 310.49 million Baht.

"The growth in performance reflects our commitment to being a leader in residential development in the Bangkok metropolitan area. The company studies consumer behavior and creates functions based on customer needs, enhancing daily living in homes. Therefore, project development focuses on building homes that align with changing consumer behaviors. Currently, consumers are spending more time at home, making our projects meet their needs. In Q3, we had over 1,250 visitors to our projects, which is a significant number," she stated.

The CEO of Villa Kunlaya (KUN) discussed the year-end strategy, stating that the company continues to roll out sales promotions, such as ready-to-move-in homes with waived transfer fees, waived mortgage fees, waived common area fees, free air conditioning, and free water pumps and tanks. Additionally, the company is collaborating with financial institutions under the "Pay 1,000 Baht per Million" project to ease the burden of home payments for customers purchasing homes during the recovery from COVID-19, believing that this strategy will facilitate customer purchasing decisions.

Furthermore, she added that the company is preparing to develop new projects for the remainder of the year, currently focusing on a project in the southern direction (Rama 2 zone) with an investment value of approximately 2.35 billion Baht, named "Kunlaya Navara." After land transfer, development is expected to commence by the beginning of 2022, with sales anticipated to start in Q3/2022.

Currently, the company has land valued at 98.97 million Baht waiting for development, and in Q4/2021, there are plans to acquire additional land in the southern direction. Thus, when combining the land currently owned with projects developed in 2021 and land awaiting purchase, the company will have a total of four projects waiting for development in 2021, with one project already opened for sale, which will support the company’s revenue for the next seven years.