Plans to launch five new condominiums before the end of the year were recently released by LPN Development. The condominium projects are worth THB10 billion as the company looks to boost its full-year presales to THB20 billion.
“We are confident our presales will achieve the target after the company recorded presales worth THB10 billion in the first seven months of this year,” managing director Opas Sripayak said.
The company has a revenue target of THB16 billion, which LPN believes it will have no problem meeting, after transferring THB3 billion worth of condominium units to customers last month. The total value of its transfers during the first seven months of this year was THB10.39 billion.
LPN Development recorded increases in revenue and net profit in the first half as well. Revenue of THB7.39 billion was a 47.2 percent increase from last year and net profit of THB1.11 was a 56.33 percent rise over the same period in 2014.
Opas said that the company also had a backlog of homes awaiting transfer to customers worth THB8.7 billion. He added that THB8.7 billion worth would be transferred before the end of this year, and the rest in 2016. That is one of the main reasons the company is confident of meeting, or exceeding, this year’s revenue target.
LPN is expecting an economic recovery during the second half of the year, Opas noted. The company has observed a rise in demand since June. That is due in part to people who had put off purchasing a home early in the year finally decided to buy.
“We believe that the five new projects we are launching during the rest of this year will get positive feedback from customers because they are in prime locations,” Opas concluded.
