DHOUSE has revealed its business direction for the final quarter of 2023, focusing on continuous revenue recognition from real estate and oil station-related businesses in a mixed-use project near Mahasarakham University. The company has reported a turnaround with a net profit of 7.42 million baht and a backlog of 4 real estate projects valued at a total of 25 million baht. DHOUSE emphasizes its strength as a regional leader in real estate development, catering to the lifestyle of its target audience, effectively managing costs through land holdings ready for development, and benefiting from regional real estate growth driven by economic expansion. The company is confident that its revenue for 2023 will meet its targets.

Mr. Pongpachon Lertroongporn, CEO of DHOUSE Development Public Company Limited, a leader in real estate development in Mahasarakham province, offering various residential and commercial properties such as single houses, duplexes, townhomes, home offices, and commercial buildings, stated that the business direction for the final quarter of 2023 focuses on continuous revenue recognition from oil station services and related businesses, which have already been constructed and are ready for service. The company expects an increase in service usage due to travel demand during the festival season.

The oil station “PTT U-Park Khamriang,” operated by D Energy and Retail Co., Ltd., is located near Mahasarakham University and consists of two service areas: 1. An oil station under the “PTT” brand in a DODO (Dealer Owned Dealer Operated) format, and 2. Related businesses, which are divided into two formats: two stores managed and operated by the group and rental space with management fees.

The company’s performance has shown continuous improvement, with total revenue for the first nine months of 2023 reaching 178.41 million baht, an increase from 107.78 million baht in the same period last year, representing a growth of 65.53%. This includes revenue from real estate development of 71.41 million baht and revenue from oil stations and related businesses of 107 million baht, resulting in a net profit turnaround of 7.42 million baht, an increase of 149.13% compared to the same period last year. The company aims to maintain a profit margin of no less than 8.50% for the entire year of 2023.

Additionally, the company continues to recognize revenue from a backlog of real estate projects in Mahasarakham province, with four projects valued at a total of 25 million baht. The revenue breakdown from operations includes 58% from oil station businesses and related businesses, and 39% from real estate development.

“The company is committed to developing real estate in Mahasarakham and nearby provinces, leveraging its expertise and understanding of the local lifestyle to create simple yet effective projects that meet customer needs at reasonable prices, emphasizing construction quality and quality after-sales service. The company also has strong cost management capabilities due to land holdings ready for future project development. Furthermore, the expansion of the energy business is another key factor driving the company’s strong growth,” Mr. Pongpachon added.

Overall, the real estate business in Mahasarakham and nearby provinces continues to show positive trends, supported by government infrastructure development and economic growth in the northeastern region, an increasing working-age population that is the company’s target market, and government measures to lower interest rates, resulting in increased housing demand. This presents a great opportunity for the company, and with all operational plans in place, the company is confident it can achieve its revenue growth targets for this year,” Mr. Pongpachon concluded.