Ananda announces its promising Q1/2024 operating results, with a THB 199 million net profit, showing a 475% increase, THB 5.211 billion sales volume, and THB 3.344 billion transfer volume, while being committed to a continuous business growth and ready to move forward with its 2024 plan

Ananda Development PCL (ANAN), the leader in urban residential development and the next-to-mass-transit condominium market announced that its Q1/2024 operating results were in line with its forecast. It generated a net profit of over 199 million baht, representing a 475 percent year-on-year increase; a sale volume of 5.211 billion baht, which exceeded its target; and transfer volume valued at 3.344 billion baht. This reinforces the fact that there is a continuous demand for next-to-mass-transit condominium projects, and Ananda is confident to achieve its different targets throughout the year.

Ms. Limly Thipphongpraphas, Ananda’s Chief Financial Officer indicated that Ananda was still holding the leading position for the market of next-to-mass transit condominiums, reaching and understanding urban customers. Its Q1 operating results were satisfactory and promising as witnessed through the fact that it generated a net profit of over 199 million baht, which showed a 475-percent year-on-year increase, largely resulting from a 337-percent increase in its real estate-based revenue, mainly due to an increased transfer volume of ready-to-move condominium projects, e.g. Ideo Chula-Samyan, Coco Parc, Artel Asoke-Rama 9 and Ashton Residence 41, and a 44-percent year-on-year decrease in financial spending as seen through its 3.8253 billion baht debenture repayment in January 2024.

In Q1/2024, Ananda enjoyed a sale volume of 5.211 billion baht, which grew by 11 percent from the previous quarter and a transfer volume amounting to 3.344 billion baht, with 1.215 million baht from international customers, which showed a 150 percent growth. The year-on-year growth in the transfer volume derived from international customers in the Bangkok Metropolitan Region’s real estate market represented eight percent.

In 2024, Ananda is still moving forward with its new business plan, with a commitment to a continuous business growth, product and service quality, and urban residential development, aiming to accommodate its sustained long-term growth and achieve its targets by launching 7 new residential projects valued over 18.608 billion baht. 2 of them are flagship condominium projects, in partnership with world-class partners, and the other 5 are low-rise projects situated in high potential locations. Ananda set a goal to close the sales of its 8 high-rise and low-rise condominium projects worth over 19.962 billion baht, and it is ready to gain the confidence of its investors and shareholders trusting its management capability through the next-round debenture repayment in July 2024, worth 3,231 million baht.

Ananda aspires to develop different projects to fulfill all customer segment needs through ready-to-move residential projects, including next-to-mass-transit condominium, house and townhome projects in prime locations to cater for its continuous business growth. This year, Ananda announced it would make a very big move, for Thai real estate industry, to penetrate into international markets by introducing marketing campaigns to its 13 ready-to-move projects situated in prime locations across Bangkok, which perfectly fulfill all lifestyles, through roadshows in different countries, e.g. China, Taiwan, Hong Kong, India, Myanmar, Singapore, Vietnam and Indonesia, targeted at real estate investors and those looking for second housing. Ananda has expected that the event series will receive a positive response due to the project interest and potential and vibrant and attractive Thai real estate market for foreign investors.