Ananda announces cautious plan for 2016
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ANANDA Development plans to launch 12 residential projects this year worth a combined Bt22 billion.
They will comprise nine condominium projects worth Bt18.7 billion and three projects of other types of housing worth Bt3.3 billion.
The company also expects to increase its land-purchase budget to Bt8.7 billion this year from Bt5.2 billion last year to support its future growth, Ananda chief executive officer Chanond Ruangkritya said yesterday.
The total value of its projects last year was Bt34 billion.
The company has set a presales target this year of Bt21 billion. It has launched one project in the current quarter, and plans to launch two in the second quarter, five in the third, and four in the final quarter of the year.
Of the nine condominium projects, five will be joint ventures with its Japanese partner Mitsui Fudosan. The combined value of the five projects is Bt14.5 billion. One project was launched this quarter.
Since its partnership with Mitsui Fudosan began in 2013, the companies have launched nine condominium projects worth Bt45 billion in total.
Chanond said that despite continued strong demand for condos near Bangkok’s mass-transit system, the company began this year cautiously because of the continuing economic uncertainty, particularly with regard to consumer debt and the slowing Chinese economy. It might increase the number of projects if it sees signs of the situation improving, the CEO said.
The company expects to transfer Bt15.5 billion worth of homes this year including those under the Mitsui partnership, Bt30.2 billion in 2017, and Bt42.3 billion in 2018.
It also plans to launch Bt3.9 billion worth of debentures in the second half of the year, of which Bt2.4 billion will be a replacement for the tranche that will be retired in the third quarter.
Ananda announced it had generated Bt26.2 billion in presales for 2015, an increase of 26 per cent on 2014. The company set new records for both condominium presales at Bt22.2 billion and housing sales at Bt3.9 billion. It ended the year with a backlog worth Bt37.2 billion, an increase of 37 per cent over the Bt27.1 billion recorded at the end of 2014.
Total revenue for the full year 2015 was Bt11.025 billion, an increase of 4 per cent from 2014. Its 2015 profit was Bt1.2 billion, a drop of 7 per cent year on year. The decrease was attributed to the costs associated with the record amount of new projects launched through the year.
