Sivaram Real Estate Public Company Limited, or “SVR” is paying an interim dividend of 0.20 Baht, with the XD date set for August 23. The company is ramping up its efforts in the fourth quarter of 2023, preparing to launch two new projects: “Sivaram Park (Ring Road - Pracha Uthit 76)” valued at 528 million Baht and “Sivaram Hide (Bang Khae - Sathorn)” valued at 401 million Baht. Meanwhile, “Sivaram Village (Ring Road - Chaiyaphruek)” was launched earlier in August. The company is confident that these three new projects will start generating revenue in the second half of the year, reinforcing the expectation of achieving a new All-time High this year, following a net profit of 47.50 million Baht in the first half, an increase of 96.49%, which is close to the 2022 profit of 58.24 million Baht, reflecting a leap in growth towards a High Growth level.

Mr. Ronarit Thitisuriyarak, Executive Director and Senior Chief Financial Officer of Sivaram Real Estate Public Company Limited (SVR), a developer of horizontal residential real estate under the quick turnover project development concept—fast construction, quick sales, and prompt delivery—along with value (Premium Economy) in the “Best Smart Living” concept, revealed that the company’s performance for the first six months of 2023, ending June 30, 2023, showed total revenue of 504.12 million Baht, an increase of 70.29% or 208.09 million Baht compared to the same period last year (YoY) with revenue of 296.03 million Baht. The net profit was 47.50 million Baht, up 96.49% or an increase of 23.33 million Baht YoY, compared to a net profit of 24.17 million Baht. This resulted in a net profit margin increase to 9.43% YoY, compared to a net profit margin of 8.17%. In the second quarter of 2023, total revenue was 289.66 million Baht, an increase of 79.29% from the same quarter last year, with a net profit of 23.28 million Baht, up 66.57% from the same period last year.

As a result of this growth, the company’s board of directors has approved an interim dividend payment for the 2023 fiscal year (January - June 2023) at a rate of 0.20 Baht, totaling 102 million Baht in dividends. The record date for dividend eligibility is August 24, 2023, and the XD date is August 23, 2023, with dividend payments scheduled for September 6, 2023. This marks the first dividend payment to shareholders since the company was listed on the MAI stock exchange.

“The reason for the growth in the first six months of 2023 is due to revenue from projects for sale and land amounting to 503.23 million Baht, which grew by 70.60% or 208.26 million Baht from 294.97 million Baht in the same period last year. This includes increased revenue from sales across all types of projects, including single houses, twin houses, and townhomes, with revenue recognized from five projects: Sivaram City (Industrial Estate - Rayong), Sivaram Grand (Sukhumvit - Bang Pu), Sivaram Nature Plus (Assumption - Sriracha), Sivaram Nature Plus 2 (Sukhumvit - Bang Pu), and Sivaram Village (Sukhumvit - Bang Pu 58), as well as from the sale of land awaiting development in Phuket, with revenue recognized from four projects in the second quarter of 2022.

For the plan to launch projects for the remainder of this year, Mr. Ronarit stated that the strategic plan for the second half of 2023 includes the launch of three projects with a total value of 1,619 million Baht, including Sivaram Village (Ring Road - Chaiyaphruek) valued at 691 million Baht, which has already commenced operations in early August. The other two projects will be launched in the fourth quarter of 2023: Sivaram Park (Ring Road - Pracha Uthit 76), a single house project valued at 528 million Baht, and Sivaram Hide (Bang Khae - Sathorn), a single house project valued at 401 million Baht. All three projects are expected to start generating revenue in the second half of the year and will continue to generate income for the next 1-2 years. Therefore, the company believes that these factors reflect the potential and opportunities for business growth to leap towards High Growth as targeted, as the net profit in the first six months of 2023 reached 47.50 million Baht, which is close to the net profit of 58.24 million Baht in 2022. Thus, it is anticipated that the performance in 2023 will be outstanding enough to break the All-time High record.