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Quality Houses Boosts Revenue Trget after Strong 9 Months Featured

The Trust Residence North Pattaya Developed by Quality Houses The Trust Residence North Pattaya Developed by Quality Houses

Bangk based developer Quality Houses has boosted this year's revenue target from Bt18 billion to Bt20 billion after reporting revenue of Bt15.64 billion and net profit of Bt2.57 billion in the first nine months.

Meanwhile, the company recorded presales worth Bt16.9 billion or about 84% of its full-year target of Bt20 billion, president and chief executive officer Rutt Phanijphand said.

He added that the demand to buy homes in the first nine months of this year continued to grow in all categories - low-rise residences such as detached houses and townhouses, as well as condominiums.

QH introduced 15 residential projects worth Bt17.86 billion in the first nine months and enjoyed successful sales and strong presale growth.

It also plans to launch five new projects worth Bt3.19 billion in the current quarter, which should ensure meeting the Bt20-billion presale target.

The company also has a backlog worth Bt10 billion, Bt2.5 billion of which will be booked as this year's revenue, Bt3.5 billion next year, and Bt4 billion in 2015.

"Political [unrest] will have little impact on the property market as people still to need to buy homes," he said.

Last modified onMonday, 18 November 2013 22:29
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