KUN Public Company Limited showcased impressive performance in the first quarter, achieving a profit of 38.67 million baht, a growth of 41.16%. This was driven by a 40.48% increase in revenue from home deliveries, reaching 266.55 million baht. Meanwhile, sales in Q1/2022 totaled 460 million baht, up 31.5%, supporting a backlog of 360 million baht to be gradually recognized in Q2/2022. The company is also set to launch the “Kunlai Daisy” project valued at 830 million baht and is preparing to finalize the deal for the “Kunlai Navarra” project worth over 3 billion baht, which is expected to open for pre-sale by the end of the year. The company reaffirms its revenue growth target of 10-15% for this year, with sales potentially reaching 1.7 billion baht.

Mrs. Prawirat Tevaakson, CEO of Villa Kunlai Public Company Limited, a developer of horizontal real estate projects in suburban areas, stated that the ongoing COVID-19 pandemic has led customers seeking housing that meets their daily lifestyle needs. Additionally, the Bank of Thailand's temporary relaxation of LTV measures until December 31, 2022, has made it easier for customers to decide to purchase homes before prices increase.

As a result, the company's performance in Q1/2022 saw a net profit of 38.67 million baht, up 41.16% from the same period last year (YoY), when the net profit was 27.39 million baht. Total revenue reached 267.51 million baht, an increase of 40.06% from 190.99 million baht in the previous year, driven by increased project deliveries. In the first quarter, the company recognized revenue from five main projects:
1. Kunlai Preem
2. Kunlai Begins 2
3. Kunlai Joy On 314
4. Kunlai Park
5. Kunlai Courtyard

As for sales (presales) at the end of Q1/2022, they stood at 460 million baht, up 31.5% from 350 million baht in the same period last year (YoY). This sales figure represents over 25% of the annual sales target of 1.7 billion baht. All of the company's projects received positive responses from customers, leading to increased sales compared to the previous year, especially for the Kunlai Park project, which launched in Q1/2022 and has already achieved over 10 sales, with deliveries and revenue recognition starting in the first quarter. Therefore, the company believes that sales for this project could reach 50 units this year, in line with its set targets. The continuous growth in sales has resulted in a backlog valued at over 360 million baht, most of which will be recognized in Q2/2022.

“The company places great importance on change, and we have a team that continuously updates trends in new housing formats to develop products that meet customer needs. The trend of consumer demand for housing still leans towards horizontal housing rather than condominiums, as it better suits the lifestyle of consumers in the New Normal era, providing ample space for various needs, including working from home and online learning. Additionally, the company is preparing spaces for installing electric vehicle chargers (EV Chargers) and solar panels to reduce electricity consumption for customers,”

For the overall business outlook in Q2/2022, the CEO of KUN stated that the real estate market is beginning to recover due to various positive factors, such as the reopening of the city to welcome tourists, which will increase tourist arrivals and help the economy recover. Therefore, personally, I believe that consumer demand and purchasing power will start to improve. Additionally, customers still seeking housing are looking for homes that meet all their needs. Soon, the company plans to launch a new project, “Kunlai Daisy,” which consists of single-family homes and twin homes located on Bang Kluai-Sai Noi Road, totaling 211 units, with a project value of 830 million baht, and expects a positive response similar to previous projects.

Regarding the progress of the “Kunlai Navarra” project, which is considered the third project in the southern Bangkok zone (Bang Khun Thian), valued at 3 billion baht, the project's highlight is its location with the best air quality in Bangkok and will be the last project in this zone priced below 10 million baht. Furthermore, the company is looking for opportunities to develop new projects in the future, focusing on completing projects in all four directions around Bangkok and its vicinity, as per the company's policy. Currently, the company has developed projects in two directions: the western part of Bangkok in Bang Bua Thong and the eastern part in Chachoengsao province, with the third direction in the south in Bang Khun Thian, which is under development. This project is expected to open for pre-sale in Q4/2022. Nevertheless, due to the company's growth factors, KUN aims for a revenue growth rate of 10-15% in 2022 from last year's total revenue of 1 billion baht, with a sales target of 1.7 billion baht.