MAI-listed developer J.S.P. Property Plc remains upbeat about sales and revenue this year, as demand for commercial property remains strong despite unfavourable sentiment.
The company is maintaining this year's revenue and sales targets of 4 billion and 3.5 billion baht, respectively.
Chief executive Tanongsak Manotamraksa said although the target buyers of commercial houses were SMEs, many of which had been hit by the economic slowdown, those buying a commercial house usually had cash on hand for investment.
"Many SMEs may delay decision-making when buying a residential unit, but for business they continue buying as usual," he said.
"Some customers have shifted from using mortgages to cash to buy a commercial house, as they see a marginal gain from the bank deposit."
J.S.P. posted a first-half net profit of 568 million baht, up by 57% year-on-year, on revenue of 2 billion baht, up by 18%. It has a sales backlog worth 5.22 billion baht, with 2.3 billion to be realised in the second half.
During the first six months, it recorded 800 million baht in presales, down by 20% year-on-year as no new projects were launched in the period.
It expects 3.5 billion baht in presales for the full year, up from 3 billion last year. Revenue will grow from 2.61 billion baht to 4 billion by year-end.
It plans to launch two new projects in the second half worth a combined 8 billion baht. One will be a 140-rai site in Rangsit Khlong 1, where it will develop commercial houses and townhouses worth 4 billion baht.
The other will be a 218-rai plot in Prakasa, where it will develop commercial houses, townhouses, duplexes and a market in phases, worth a combined 4 billion baht.
"Our strategy is to buy a large plot to develop, as land costs are lower and unit prices can be lower," Mr Tanongsak said. "Amid the slowdown, projects with a mix of commercial and residential use have lower risks than solely residential units. Buyers can also use their residential unit as a shop if they are unemployed. There are also fewer competitors in this segment."
It will launch at least three new projects worth a combined 7 billion baht next year -- a 90-rai site in Bang Bua Thong, a 75-rai plot in Pad Rew in Chachoeng Sao's Muang district and a condo project in the Rangsit-Bang Phun area.
JSP shares closed yesterday on the MAI at 1.73 baht, up 13 satang, in trade worth 141 million baht.
MAI-listed developer J.S.P. Property Plc remains upbeat about sales and revenue this year, as demand for commercial property remains strong despite unfavourable sentiment.The company is maintaining this year's revenue and sales targets of 4 billion and 3.5 billion baht, respectively.Chief executive Tanongsak Manotamraksa said although the target buyers of commercial houses were SMEs, many of which had been hit by the economic slowdown, those buying a commercial house usually had cash on hand for investment."Many SMEs may delay decision-making when buying a residential unit, but for business they continue buying as usual," he said."Some customers have shifted from using mortgages to cash to buy a commercial house, as they see a marginal gain from the bank deposit."J.S.P. posted a first-half net profit of 568 million baht, up by 57% year-on-year, on revenue of 2 billion baht, up by 18%. It has a sales backlog worth 5.22 billion baht, with 2.3 billion to be realised in the second half.During the first six months, it recorded 800 million baht in presales, down by 20% year-on-year as no new projects were launched in the period.It expects 3.5 billion baht in presales for the full year, up from 3 billion last year. Revenue will grow from 2.61 billion baht to 4 billion by year-end.It plans to launch two new projects in the second half worth a combined 8 billion baht. One will be a 140-rai site in Rangsit Khlong 1, where it will develop commercial houses and townhouses worth 4 billion baht.The other will be a 218-rai plot in Prakasa, where it will develop commercial houses, townhouses, duplexes and a market in phases, worth a combined 4 billion baht."Our strategy is to buy a large plot to develop, as land costs are lower and unit prices can be lower," Mr Tanongsak said. "Amid the slowdown, projects with a mix of commercial and residential use have lower risks than solely residential units. Buyers can also use their residential unit as a shop if they are unemployed. There are also fewer competitors in this segment."It will launch at least three new projects worth a combined 7 billion baht next year -- a 90-rai site in Bang Bua Thong, a 75-rai plot in Pad Rew in Chachoeng Sao's Muang district and a condo project in the Rangsit-Bang Phun area.JSP shares closed yesterday on the MAI at 1.73 baht, up 13 satang, in trade worth 141 million baht.
การแปล กรุณารอสักครู่..
