Assetwise Public Company Limited (ASW) showcased impressive performance in Q1/2023, achieving total revenue of 1.743 billion baht, a 37% increase year-on-year, with a net profit of 283 million baht, up 25% YoY. The first quarter sales soared to 3.495 billion baht, and the company hinted at transferring ownership of two condominium projects worth a total of 4.1 billion baht in Q2. Additionally, ASW plans to launch four new projects valued at over 6.45 billion baht, confident that revenue recognition and sales for the entire year will meet targets. The company is set to host the "Assetwise Expo" featuring highlight projects and unmissable deals from June 1-7 at Central Ladprao shopping center.

Mr. Kramchat Wiphanpong, CEO of Assetwise Public Company Limited (ASW), a leading real estate developer focused on lifestyle under the concept of "Happiness Designed for You" or "We Build Happiness," revealed that the success in the condominium market around universities (Campus Condo) in Bangkok and provincial areas, along with expertise in the real demand segment, contributed to the company's Q1/2023 performance. The total revenue of 1.743 billion baht represents a 37% increase from 1.27 billion baht in the same period last year, and the net profit of 283 million baht is a 25% rise from 226 million baht last year. The primary revenue recognition came from the Modiz Launch project, a 36-story condominium adjacent to Thammasat University Rangsit with 463 units, accounting for 51% of revenue, and the Kave AVA project, an 8-story condominium with 1,278 units, contributing 22% of revenue.

In the first quarter of 2023, ASW achieved total pre-sales of 3.495 billion baht, a 6% growth YoY and a remarkable 227% increase QoQ, driven by the launch of three new projects worth a total of 5.41 billion baht. These include two Campus Condo projects: 1) Kave Embryo Rangsit, a condominium near Rajamangala University of Technology Thanyaburi starting at 1.29 million baht for 514 units valued at 780 million baht, and 2) Kave Town Island, a condominium near Bangkok University-Rangsit starting at 1.49 million baht for 1,770 units valued at 3.53 billion baht. The 3) Atmoz Season Ladkrabang project starts at 1.29 million baht for 706 units valued at 1.1 billion baht. The Kave Town Island project, which recently launched in late March, successfully sold over 1,170 units across five of the seven buildings available, showcasing ASW's vision and strategy in targeting the right market and selecting high-potential locations, resulting in outstanding business performance.

The CEO of ASW further stated that in Q2, the company plans to transfer ownership of two more condominium projects: Atmoz Bangna, a resort condominium in the heart of Bangna with 1,101 units, and Modiz RHYME Ramkhamhaeng, a condominium near MRT Ramkhamhaeng station with 546 units, with a total project value exceeding 4.1 billion baht.

In addition, during Q2, the company is preparing to launch four new projects valued at a total of 6.45 billion baht, including four condominium projects: 1) Kave Pop Salaya with 238 units valued at 500 million baht, 2) Kave Coco Bangsaen with 974 units valued at 2 billion baht, 3) Atmoz Palacio Ladprao - Wanghin with 759 units valued at 1.75 billion baht, and 4) Modiz Vault Kaset-Sripatum with 798 units valued at 2.2 billion baht. With this business plan, the company is confident it will achieve its sales target of 15 billion baht and revenue recognition of 7.2 billion baht.

The outlook for the economic recovery in the country in Q2 is improving, driven by the vibrant tourism industry, which positively impacts consumer confidence and large asset purchases. This is evident from the home booking figures at the housing and condominium fair, which saw over 1,000 purchase agreements worth more than 4 billion baht, and the Motor Show 2023, which recorded bookings for 42,885 vehicles, reflecting consumer confidence in spending and a recovery in purchasing power.

Recently, the company has prepared to host the "Assetwise Expo," showcasing the highlight projects of the year with exciting deals not to be missed from June 1-7 at Central Ladprao shopping center. Further details about the campaign will be announced soon,” Mr. Kramchat concluded.

ASW is engaged in real estate development, focusing on high-rise and low-rise residential projects in high-potential locations under the concept of "Happiness Designed for You" or "We Build Happiness." Currently, the company has developed over 50 condominium and housing projects under various brands designed to create happiness suitable for every lifestyle, including KAVE, ATMOZ, MODIZ, ESTA, and THE HONOR, with a total project value exceeding 55.3 billion baht. This includes 37 completed and ready-to-move-in projects and 13 projects currently on sale or under development. The company currently has a strong backlog of sales awaiting revenue recognition valued at 12.538 billion baht.