Origin Property Records 18% Gains in 3Q23 Profit with 12 Projects to Launch in 4Q

Origin Property Public Company Limited (SET: ORI) has announced its 3Q23 consolidated financial statement through the Stock Exchange of Thailand as follows;

Quarter 3Q23 3Q22
Net Profit (Loss)
Million Baht
1,000.42 847.94
Earning Per Share
0.4076 0.3455
% Change 17.98
9 Months 2023 2022
Net Profit (Loss)
Million Baht
2,671.34 2,741.16
Earning Per Share (Baht) 1.09 1.12
% Change -2.55

ORI reported a net profit of 1,000.4 million baht in 3Q23, increased 18% from the same period of last year. 

Real estate transferred activities of condominium and housing estate totaled 6,359.5 million baht in 3Q23. As results of transferred activities from non-joint ventures company amount of 3,162.4 million baht and joint ventures company amount of 3,197.1 million baht. This resulted in gain from investments in joint ventures amounting to 322.3 million baht.

In the third quarter of 2023, ORI generated pre-sales amount of 12,475.0 million-baht, growth from the same period last year 7.0%, pre-sales from condominium projects at 75.0% and presales from housing projects under Britania Public Company Limited or BRI, a subsidiary at 25.0%. If compared by project status to sales from the project group, it is Ready to move 57.0% and sales from New launch and Ongoing 43.0%. As a result, during the first 9 months of 2023, ORI has accumulated pre-sales of residential projects of over 36,940.0 million-baht, growth from the same period last year was 26.0% and 82.0% of the year’s pre-sales target. 

For the fourth quarter 2023, ORI also has a condominium project that will begin to gradually transfer ownership totally 4 projects, including Origin Plug & Play  Ramkhamhaeng Triple Station, Origin Plug & Play Ramintra, Brixton Rayong, Brixton Campus Bangsaen, with each project having a backlog average 85.0%, and a housing project gradually transferring ownership 6 project includes Grand Britania Thawiwatthana, Grand Britania Wongwaen-Prachautid, Britania Bangna-Srivaree, Britania Bangna-Thepharak, Britania Ratchaphruek-Kanchanapisek. 

In addition, ORI plans to launch 12 new residential projects in the fourth quarter 2023, spread in both Bangkok, the metropolitan area, Eastern Economic Corridor (EEC) and  the major districts. The total project value is 15,140.0 million baht, divided into housing projects under Britania Public Company Limited or BRI in the amount of 8 projects, total project value 10,150.0 million-baht and 4 condominium projects with project value 4,990.0 million baht, which will help strengthen sales from the first 9 months. ORI has pre-sales more than 36,937.0 million baht, or approximately 82.0% of the year’s pre-sales target. As a result, ORI expects to be able to meet the target as planned.