Supalai Public Company Limited has announced its financial results for the first nine months of 2024, showcasing a robust financial position with total revenue of 22.792 billion baht and a net profit of 4.201 billion baht. The company is fully engaged in the real estate market, both horizontal and condominium sectors, launching an additional 10 new projects valued at 13.730 billion baht.

Mr. Traitecha Tangmattatham, Managing Director of Supalai Public Company Limited, stated that the overall performance for the first nine months of 2024 has been successful in terms of both revenue and profit. The company has maintained its growth trajectory as planned, achieving total revenue of 22.792 billion baht, a 6% increase compared to the same period in 2023. The revenue for the third quarter of 2024 was 9.985 billion baht, up 39% year-on-year. The primary revenue for the nine-month period came from property transfers in Bangkok, its suburbs, and regional areas, with 64% from horizontal projects and 36% from condominiums, supported by the launch of new projects and positive market reception, especially in the completed ready-to-move-in product segment. Additionally, during the first three quarters, the company recognized revenue from the transfer of completed condominiums from five new projects worth over 16 billion baht, including Supalai Icon Sathorn, Supalai Premier Samsen-Ratchawat, Supalai Loft Phasi Charoen Station, City Home Sanambinnam-Rattanathibet, and City Home Rayong. Furthermore, the company has an additional 28 billion baht worth of completed ready-to-move-in products, which is another key indicator reflecting the real demand in the market, serving as a crucial driver for strong revenue and profit growth.

For the nine-month period of 2024, the net profit was 4.201 billion baht, growing 6% compared to the same period in 2023, while the net profit for the third quarter of 2024 was 1.989 billion baht, a remarkable 67% increase compared to the third quarter of 2023. The net profit margin for the nine-month period reached 18.4% of total revenue, primarily driven by increased gross profit margins. The company has maintained a low debt-to-equity ratio of 51%, with a backlog of approximately 13.216 billion baht as of September 30, 2024. It is expected that 7.925 billion baht will be recognized as revenue in 2024, with the remaining 5.291 billion baht in 2025 and 2026, supporting the company's future revenue growth.

Additionally, the company has received an 'A' credit rating from TRIS Rating for the 11th consecutive year, reflecting its strong financial status, rapid business growth, and consistent performance, while maintaining low financial liabilities and high liquidity, ranking among the top in the real estate sector.

Moreover, the company is preparing to develop new projects in Bangkok, its suburbs, and regional areas, totaling 10 projects valued at 13.730 billion baht, comprising 6 horizontal projects and 4 condominium projects. Notably, the launch of 4 unique condominium brands in prime locations includes Supalai Tham Charoen Nakhon, Supalai Blue Sathorn-Ratchaphruek, Supalai Sense Khao Rang Phuket, and Supalai Kram Khao Tao, along with luxury horizontal projects such as Supalai Grand Essence Arun Amarin, Supalai Prima Villa Uthayan Road, and Supalai Grand Ville Sukhumvit-Bangna, which will help drive sales growth towards the set targets.