SC is ready to rise as the 'Number 1 Single-Detached House Brand'

Revealing that in the first quarter, all price ranges of houses are selling very well, capturing the market share of the number 1 single-detached house brand

Total sales reached 5.7 billion baht, growing 188%, with increases in both revenue and net profit

 

 

Mr. Natthapong Khunakarawong, CEO of SC Asset Corporation Public Company Limited or SC, under the concept of being a Living Solutions Provider, disclosed the success of the first quarter's performance, stating, “Our single-detached houses have grown across all price ranges, leading the company to grow in sales, revenue, and net profit, which aligns with our business plan and our goal to become the number 1 single-detached house brand since the beginning of this year. In summary:

 

1. The company holds the highest market share for single-detached houses at 15% (according to market data for single-detached houses in Bangkok and its vicinity from AREA or Agency for Real Estate Affairs Co., Ltd.)  

 

This is due to SC houses selling well and growing in all price ranges across 3 main segments:

- Houses priced over 20 million baht, which is the main and strong portfolio, grew approximately 4 times or 268% YoY 

- Houses priced between 5-20 million baht grew approximately 2 times or 113% YoY 

- Houses priced below 5 million baht grew 10% YoY   

 

2. Achieved total sales of 5.7 billion baht, growing 188% YoY  

This includes horizontal sales of 4.606 billion baht, growing 123% YoY, and condominium sales of 1.094 billion baht, growing 1381% YoY 

 

The growth in condominium sales comes from:

-Luxury segment projects priced over 300,000 baht per square meter, where the company holds a market share of 26% and is number 1 in the market.

-New condominium project Scope Prasiri on Sukhumvit 49 has received a good response, with 45% already booked.

 

3. Growth in both revenue and net profit

Total revenue reached 3.965 billion baht, growing 20% YoY, derived from operational revenue, with 95% from sales and 5% from rental and service income, along with a net profit of 417 million baht, growing 39% YoY.

 

The company and its subsidiaries have total assets and liabilities of 44.846 billion baht and 25.744 billion baht, respectively, with a debt-to-equity ratio of 1.35 and strong liquidity, currently having cash and credit lines exceeding 10 billion baht, preparing to pay a dividend of 0.18 baht per share on May 20.

 

Regarding the progress of the plan to launch 8 horizontal projects valued at 9 billion baht in this second quarter, two new projects worth a total of 1.145 billion baht will be opened for booking, namely Bangkok Boulevard Signature Petchkasem-Pinklao, luxury houses on large plots of land starting from 20-30 million baht, located near The Mall Bangkae, and the Workplace project in Sai Mai-Phaholyothin, premium home offices starting from 7-20 million baht, located near the Jatujak-Chatu Chot Expressway and the Chalerm Ratch Expressway.

 

Additionally, we are accelerating the increase of housing stock to meet purchasing demand. In the second quarter, the company will have a total of 57 projects available for sale, with a remaining value for sale of over 40.56 billion baht, divided into 47 horizontal projects and 10 condominiums.

 

Mr. Natthapong concluded, “Although the COVID situation presents significant challenges, we are confident that we will achieve our sales and revenue targets for this year while becoming the number 1 single-detached house brand in the hearts of consumers.”