ORI Reports THB709 Million of Net Profit in 3Q21, Expecting Business to Recover in 4Q

Origin Property Public Company Limited (ORI) announced its 3Q21 consolidated financial statement through the Stock Exchange of Thailand as follows;

ORI reported a net profit of 709 million baht in 3Q21, decreased 1.13% from a net profit of 717 million baht in 3Q20.

The company stated that real estate transferred activities of condominium and housing estate totaled 3,984.8 million baht, higher than the third quarter of 2020 by 88.8 million baht, or an increase by 2.3%. As results of transferred activities from non-joint ventures company amount of 3,665.9million baht and joint ventures company amount of 318.9 million baht. The resulting gain of transferred activities from joint ventures amounted to 28.1 million baht (51% shareholding proportion) and the profit attributable to equity holders of the company amounted to 709.0 million baht.

In the third quarter of 2021, ORI continued to maintain the level of transferred activities and profitability. The company has sales from the new launch projects (pre-sales) amount of 7,110.3 million baht compared with the same period of the previous year and increased at 22%. Including the sales from condominium projects 73% of total sales and the housing project 27% of total sales.

In terms of project status, the revenue is from ready to move projects at 71% and from presale or on- construction projects at 29%. For main project that continues sales in this quarter are “Origin Plug & Play” condominium brand for first jobber and Gen Z type and housing brand of “Britania” especially of project in the west of Bangkok launched this year as Grand Britannia Ratchaphruek-Rama 5 has gained the good response from the customers as well.

Meanwhile, revenues from sales of real estate, for the third quarter of 2021, amounted to 3,665.9 million baht, or 88.9% from the total revenues, a decrease of 1,458.8 million baht, or 66.1% compared to the same period from previous year. Nevertheless, it included with the transferred activities of joint ventures of 318.9 million baht, the total transferred amount is 3,984.8 million baht. It increased from the same period of previous year by 88.8 million baht or 2.3%.


In the fourth quarter of 2021 expect that business overview recover cause of the government indulgent LTV measure on October, 21 2021 and new cases of infections continued to decrease in the third quarter of 2021 reduce the number of new cases of infections and increase vaccination rates this can lead to consumer confidence in returning to expenditure and entrepreneur confidence to marketing process for high season of real estate business.