“SENA” showcases its Q1/2023 performance with total revenue of 1.959 billion baht, capitalizing on the recovering real estate market. The company plans to expand by launching 7 new projects worth 6.4 billion baht, confident in its backlog of 7.356 billion baht, which will support its growth targets for the entire year.

Ms. Athika Boonrodchu, Assistant Managing Director of Finance and Investment at Sena Development Public Company Limited (SENA), a leading developer of both horizontal and vertical real estate projects and the first developer of fully solar-powered villages, revealed that the real estate sector is gradually recovering in line with the improving economic outlook driven by tourism and investment. This has led to a brighter performance for developers in Q1/2023.

In Q1/2023, SENA generated total revenue from real estate, its core business, amounting to 1.959 billion baht, with a net profit of 90.87 million baht and total sales of 2.694 billion baht. Revenue from rental services was 289.88 million baht, and solar business revenue was 118.23 million baht, respectively.

The real estate revenue includes income from the transfer of ownership, comprising the transfer of ownership of the Sena Kitt condominium in Bangkae MRT Phase 2, which started recognizing revenue this quarter, along with ongoing projects such as Flexi Rattanathibet, Sena Kitt MRT Bangkae Phase 1, The Kitt Lam Luk Ka Klong 2, Nich Mono Sukhumvit-Poo Chao, Sena Kitt Petchkasem-Phutthamonthon Sai 7, Nich Pride Tao Poon Interchange, Nich Mono Sukhumvit Bearing, Nich Mono Ramkhamhaeng, Sena Kitt Westgate Bang Bua Thong, and Flexi Sathorn-Charoen Nakhon, as well as revenue from the transfer of ownership of the SENAJ group projects, including J Condo Sathorn-Kalpapruek and Miami Bangpu.

For horizontal projects, revenue was recognized from the transfer of ownership of key projects including Sena Avenue 1 and 2 Rangsit Klong 1, Sena Village Tiwanon-Bangkradi, Sena Vela Rangsit Klong 1, Sena Village Ring Road-Bang Bua Thong, and Sena Village Sukhumvit-Praksa, Sena Vela Thepharak Bang Bo 2, and Sena Viva Lat Krabang, among others.

At the end of Q1/2023, SENA had a backlog of revenue to be recognized from transfers amounting to 7.356 billion baht. During the first quarter, SENA launched 3 new projects worth 2.041 billion baht, including 1. Sena Ville Ram Inthra Phase 3 valued at 59 million baht, 2. Sena Kitt Rattanathibet-Bang Bua Thong valued at 1.021 billion baht, and 3. Sena Ville Ring Road-Bang Bua Thong valued at 961 million baht. The company is confident that its performance in 2023 will meet its targets, with a sales target of 18.243 billion baht and a total transfer target of 16.539 billion baht.

In Q2/2023, SENA plans to launch 7 new projects worth a total of 6.477 billion baht, including Flexi Sathorn-Charoen Nakhon Phase 2, Sena Kitt Sathorn-Kalpapruek Phase 1, Sena Vela Sukhumvit-Bangpu, Sena Park Ville Ram Inthra Ring Road Phase 2, Sena Viva Thepharak-Bang Bo, Flexi Bangna 2, and Sena Vela Rattanathibet-Bang Bua Thong.

Nevertheless, SENA remains committed to developing projects and managing its business to diversify and strengthen its core business while innovating products and services. The company continues to uphold its mission of being more than just a real estate developer, aiming to be “THE ESSENTIAL LIFELONG TRUSTED PARTNER” to create happiness and a better quality of life at every stage of life, ensuring sustainable business growth.