Top 10 High Revenue Developers in Thailand (2020)

Top 10 High Revenue Developers in Thailand

PRUKSA : Although Pruksa was ranked as number 1, its 2019 year’s revenue declined 29.7% due to reduction of newly launched projects and 2019 LTV regulation. However, condo sales have rose 6.7%.  

LAND AND HOUSE : Even though overall performance has dropped in Q1 2020, in Q2, sales growth (transfer) showed a sign of recovery by rising 21.7%, along with rises of net profit.

SANSIRI : In past 9 months, completed condominiums sales have exceeded the expectation. But, due to COVID-19, SANSIRI decided to postpone the launches of new ones.

AP : AP could accelerate transfer of several ready-to-move-in projects. Thus, Q2 2020 condo revenue was able to grow +12.1% QoQ.

SUPALAI : In April, walk-in clients increased, and in May, SUPALAI achieved the highest low-rise projects sales per month. As of the time of report, pre-sales performance has reached about 50% of the 2020 goal.

Property Perfect : In 2019, the consolidated revenue rose 6.9% on year to Bt20,306.02 million despite economic slowdown. To prepare for impacts of COVID-19, the launch of new condominium projects will be delayed, but the emphasis will be placed on low-rise development and partnership of foreign partners.

SC ASSET : In Q2 2020, operating revenue, net profit and presales all rose QoQ, YoY. Especially the presales was addressed as a new record with 214% QoQ. The five new launched projects in H1 are all housing.

NOBLE : The outbreak of COVID-19 in early 2020 has no significant effects on operating result for the 6-month period ended 30 June 2020. A decrease in gross profit caused mainly by no revenue recognition from land & commercial properties sales in 1Q2020.

ORIGIN : Origin’s profit estimate is expected to be positive from the stock clearance sales which is worth 6,400 million baht. Origin sold all of The Origin Onnut units, via an online platform despite the property market being heavily impacted by the COVID-19 outbreak.

Quality Houses : Core operations improved due to easing COVID-19 restrictions and marketing campaigns. Presales increased 104% YoY to THB2.8b. Transfer increased 12% YoY to THB2.2b. However, net profit decreased 23% YoY to THB0.5b due to weak hotel business and equity income.