Noble Development Public Company Limited, or “NOBLE,” has announced that it still has a strong stock on hand, with a backlog valued at approximately 21 billion baht waiting to be recognized. This will be gradually recognized in the second half of 2024, amounting to over 6.9 billion baht, while the remaining over 14 billion baht will be recognized continuously until 2027.

Mr. Sira Udon, Chief Operating Officer of the Real Estate Business Group at Noble Development Public Company Limited, revealed that the company's business direction for the second half of the year is proceeding according to plan. As of June 30, 2024, the company has a total backlog of approximately 21 billion baht, which will be gradually recognized in the second half of 2024, amounting to over 6.972 billion baht. The remaining over 14.083 billion baht will be recognized until 2027. At the same time, the company has sufficient inventory on hand to meet future demand.

The company also sees that the real estate market in the second half of the year still has growth potential due to existing purchasing power, although buyers are waiting for the right timing. Therefore, if prices and products meet the needs of these customers, they will decide to purchase immediately.

Regarding the competitive market direction in real estate for the second half of the year, the company anticipates high competition, especially in marketing campaigns and promotions from operators to stimulate sales. This period is seen as a good opportunity for those with purchasing power. If there are additional interest rate reduction measures, it will further support purchasing decisions.

For the performance results in the second quarter of 2024, the company reported total revenue of 2.638 billion baht, an increase of 13% from the same period last year (YoY), and a net profit of 124 million baht, an increase of 11% (YoY). As a result, for the first six months, the company has total revenue of 4.425 billion baht and a net profit of 203 million baht, an increase of 10% (YoY). Meanwhile, presales in the first half of 2024 amounted to 5.6 billion baht, primarily from sales to foreign customers, especially from high-growth countries, with foreign customer sales accounting for an average of 60% of total sales in the first half. This has led the company to strategize on expanding its foreign market to broaden its customer base and increase opportunities for residential sales.