AP Thailand: Low-Rise Products Lead to Solid Performance

AP (Thailand) Public Company Limited recently released financial figures reflecting solid growth during the first quarter of 2021.

The firm, aiming to deliver a good quality of life on customers’ terms, posted first-quarter revenue of more than 10.770 million from low-rise products, condos, and other businesses with a 33.700 million baht backlog. The numbers come from the company’s great work on single-detached homes and townhouses.

The properties boosted AP Thailand’s total revenue, reaching a net profit of more than 1.4 million baht.

Mr. Vittakarn Chandavimol, Chief Corporate Strategy and Creation, AP (Thailand) Pcl, said that it represented a growth of 58% compared to the same period of the previous year when the firm’s total revenues stood at 6.820 million baht.

Despite the challenges that the coronavirus pandemic has brought, the real estate company has survived thanks to its good management of corporate readiness and cash flow.

“We must have ready-to-sell products available across multiple locations,” he added. AP, which has posted quarter-over-quarter revenue growth, plans to have 144 residential projects worth more than 115.48 billion baht under development across the country this year.

The company will launch three new projects in June, including two detached single-family home projects.

Those are CENTRO Ratchapruek-Suanphak 3 and CENTRO Phahol-Vibhavadi 2, with a combined value of 1,650 million baht. AP also hopes to start a home office project, Ramintra-Chatuchot District, worth 110 million baht.

By the second half of the year, it expects to earn revenues from the transfer of ownership in two new condominium projects with a combined value of 12.3 billion baht: LIFE Ladprao Valley and LIFE Asoke Hype.