Sunday, December 08, 2019

Property Perfect expects Bt25 bn this year

Sep 27. 2019
Facebook Twitter

By The Nation

653 Viewed

Sirirat Wongwattana, chief financial officer at Property Perfect Plc, said this week operational plans for the balance of this year should help boost its 2019 revenue to approximately Bt25 billion, a massive jump from the Bt1 billion recorded in the six months.

“The reasons for this, apart from the company’s excellent performance, are the accelerated expansion of land sales and earnings from our investment fund,” he said.

Property Perfect estimates revenue of Bt6 billion from horizontal projects, Bt6 billion from condominiums including Bt1.9 billion from its Yu Kiroro project in Japan, Bt1 billion from land sales and investments, and Bt2 billion from its hotel business and other sources.

The company’s backlog sales were worth Bt4.8 billion at the end of the second quarter.

All these factors enabled it to reduce debt rapidly. 

“We plan to reduce our debt by Bt5 billion by early next year,” said Sirirat. “This will also help increase our credit rating and reduce interest paid on existing and future debentures.”

Towards the year’s end, Property Perfect will announce new high-end projects including detached homes, luxury modular manors and the Lake Legend Chaengwattana project, its first joint venture with a Hong Kong partner.

Tags:
Facebook Twitter
More in BizMoves
Editor’s Picks
wmg-logo
Top News
wmg-logo