Quality House' reveals 5% growth of its revenue in the first quarter of 2014 with another 17 projects to open in Q 3-4 and new marketing strategy to be reinforced to help reaching the targeted THB 19 billion revenue for 2014.
Sep 15, 2014
Quality Houses Public Company Limited, Thailand's leading real estate developer reveals the revenue of its first quarter of 2014 with Baht 9,232 million sales already achieved, marking 5% growth (Baht 416 million) from the same quarter last year. Quality House's next step is to open new 17 projects, investing over 17 billion baht with new marketing strategy to reach Baht 19 billion worth of revenue targeted for 2014.
Mr. Rutt Phanijphand, Director&President&Chief Executive Officer of Quality Houses Public Company Limited announces that the revenue of the first quarter of 2014 (Q1-2) of the company and the affiliates sums up to THB 9,816 million or 2% increase (THB 185 million) comparing the same quarter of last year. The real estate sales (house, condominium) generate THB 9,232 million, which equals THB 416 millions or 5% increase comparing to the same quarter of last year. In the meantime, rental and service fees add THB 510 million to the company's net income, while THB 74 million comes from other miscellaneous revenues. The net profit of the first quarter of 2014 sums up to THB 1,611 million.
For the first and second quarter of 2014, the company and affiliates have already launched 10 new projects in Bangkok and provincial areas with over THB 7,026 million investment, encompassing 7 horizontal real estate projects ( 3 projects by Casa / 3 projects by The Trust / 1 project by Gusto) and 3 condominium projects (1 Project by Q / 1 project by Casa / 1 project by The Trust). 6 projects are located in Bangkok and vicinity and the other 4 projects are located in different provincial areas (Chonburi, Petchburi and Chiang Mai).
The plan for the third and fourth quarter is to open 17 new projects with THB 17,483 million investment divided into 13 horizontal real estate projects (1 project by Quality House / 9 projects by Casa / 1 project by The Trust / 2 projects by Gusto) and 4 condominium projects (1 Project by Q / 3 project by The Trust). 13 projects are located in Bangkok and vicinity and the other 4 projects are located in different provincial areas (Chonburi, Chiang Mai and Chiang Rai).
"The business operation in the first half of the year, which generates THB 9.8 billion revenue, has created great confidence in the ability of the company to achieve the THB 19,400 million revenue targeted for 2014. We have planned to launch 17 new horizontal and vertical real estate projects and expand Q House's real estate products into the provincial areas, particularly the East coast of Thailand such as Casa Legend Sriracha / Casa Ville Sriracha/ The Trust Condo Central Pattaya / The Trust Condo South Pattaya. With the sales of the aforementioned projects climbing continually, we are now preparing to kick off new projects in Northern Pattaya (The Trust Condo North Pattaya) and Chonburi (Casa Ville Mithsamphan, a community of single-detached homes). The reception is expected to be satisfying as always", Mr. Rutt further explains the future plans of the company.
In 2013, the company generated considerable revenue from the provincial projects, which added up to 9% of the net revenue of the company's real estate sales. For 2014, the goal is set to increase the revenue from the provincial projects to 15% of the company's net real estate sales.