Noble Development Public Company Limited, or NOBLE, announced its success for the year 2023, achieving total revenue of 9,978 million baht, a growth of 15% YoY, and a net profit of 910 million baht, an increase of 100% YoY, primarily due to special profits. The board has approved an additional dividend of 0.118 baht per share. For 2024, the company plans to deliver four newly completed condominium projects, with a sales target (Pre-Sales) of 20,600 million baht and total revenue of 14,000 million baht. The company is set to launch seven new projects valued at over 22,610 million baht, aiming to expand its business into a fully integrated model and support recurring revenue generation, preparing for future listings of subsidiaries on the stock exchange.

Mr. Thongchai Busarapant, Vice Chairman and Co-CEO of Noble Development Public Company Limited, stated that the company achieved strong performance in 2023 despite the economic conditions and the overall real estate market not recovering as anticipated. The company managed to consistently deliver good results, with total revenue of 9,978 million baht, a 15% YoY growth, and a net profit of 910 million baht, a 100% YoY increase, mainly driven by increased rental and service income, as well as additional income from the sale of investments in two joint venture projects: New District R9 and New Cross Kookat Station to Proud Real Estate Public Company Limited. The company also received management fees, incentive fees, and success fees.

In 2023, the company achieved pre-sales of 14,929 million baht, comprising 6,633 million baht from completed inventory and 8,296 million baht from newly launched projects and those under construction. Last year, the company launched seven new projects with a total value of 18,900 million baht and continued to generate sales. Additionally, the company has a backlog of 19,827 million baht, which will be recognized over the next three years.

Due to the continuous growth, the company's board meeting on February 27, 2024, approved the allocation of net profit for the 2023 fiscal year to pay dividends for the fourth quarter of 2023 at a rate of 0.118 baht per share, totaling 0.399 baht per share for the entire year, resulting in a dividend payout ratio of 60.0%. Based on the current stock price, this equates to a dividend yield of 10.5%. This proposal will be presented at the annual general meeting of shareholders for approval on April 25, 2024, with the ex-dividend date set for May 3, 2024, and dividend payment on May 24, 2024.

For 2024, the company aims for total revenue of 14,000 million baht and pre-sales of 20,600 million baht, with plans to launch seven new projects valued at over 22,610 million baht. This includes five low-rise condominium projects worth 6,710 million baht and two high-rise condominium projects valued at over 15,900 million baht, spread across various locations in Bangkok. Additionally, the company has four newly completed condominium projects in 2024: 1. New Noble Ratchada–Lat Phrao, 2. Noble Form Thonglor, 3. New Connect Condo Don Mueang, and 4. New Core Kookat Station, with an average sales rate of 70% across all four projects.

"NOBLE remains committed to becoming a Top 5 developer in the Thai real estate sector. The company is accelerating the development of new projects continuously. In 2024, the company plans to acquire three additional land plots with an investment budget of 3,000 million baht, including 1. Land in the Rama 9 area for a high-rise condominium project valued at over 13,000 million baht, 2. Land in the Prachachuen area for a low-rise condominium project, and 3. Land in Bangna-Trad area, in collaboration with BTS Group and Sahapat, to develop a single-house project, reinforcing the strong business relationships and ongoing expansion," Mr. Thongchai stated.

However, the company is also exploring new business opportunities in collaboration with specialized partners, such as self-storage services, with details expected to be revealed soon. This expansion plan aims to enhance the comprehensive development of real estate while creating added value for the company in the future, generating synergy from the Noble Group's business cycle.