In Q1, BRI's robust performance saw a net profit of 6.7296 billion THB, up by 195% from the previous quarter. Additionally, the company, in collaboration with partners, developed four projects with a combined value of 633 million THB. Moving into Q2, BRI maintained its strong momentum by launching two new projects worth 67.195 billion THB, reinforcing its market position.
Teeradej Kerdsamang, CEO of BRI, highlighted the company's dedication to sustainable housing development, leading to notable achievements in Q1. The company’s total revenue for the quarter was 256.71 billion THB, with a net profit of 6.7296 billion THB, a significant increase from the previous quarter.
During Q1, BRI collaborated with new strategic partners like Pruksa Real Estate Plc. to develop four projects: Britannia Nakhon In, Britannia Thaweewattana, Britannia Petchkasem 69, and Brighton Bangkruai-Sai Noi, with a total value of 633 million THB.
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Teeradej noted, "Despite economic challenges in Q1 impacting the real estate market, we maintained a gross profit margin of approximately 31% through effective cost and expense management. We also focused on selecting financially stable customers to ensure smooth ownership transfers."
In Q2, BRI plans to launch two new projects in western Bangkok, valued at 67.2 billion THB. These projects include a mix of detached and semi-detached homes:
Britannia Westgate: Featuring 346 units, priced between 6 million and 10 million THB, with a total value of 2 billion THB.
Britannia Ratchaphruek: Comprising 111 units, priced between 5 million and 7 million THB, with a total value of 4.72 billion THB.
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Teeradej emphasized the significant development potential in western Bangkok, close to lifestyle centers, hospitals, and leading educational institutions like Central Westgate and Central Westville. The demand for homes priced above 5 million THB in this area is strong, drawing high interest to BRI's new projects.
These new projects will continue to be developed with the CRAFT concept, bringing the unique characteristics and advantages of Britannia homes to meet the needs of residents in western Bangkok. The projects will feature English-style homes with architectural designs selected from different cities, providing ample living space and catering to the lifestyle needs of customers.
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Furthermore, BRI benefited from real estate industry stimulus measures implemented since February 2023, which included reducing the property ownership transfer fee from 2% to 0.01% and the mortgage fee from 1% to 0.01%, applicable to properties with a purchase price and assessment not exceeding 3 million THB. These measures are expected to encourage customers to make purchasing decisions more easily.
BRI continues to organize marketing activities to facilitate homeownership for consumers. For instance, the company hosted a "Secret Promotion, Hotspot Moment" event, offering special promotions on townhouses, semi-detached, and detached homes, starting from 2.29 million THB. Additionally, consumers could benefit from perks like a two-night stay at a Phuket hotel, a special three-year installment plan, free room decoration, and the Britania Craft Services comprehensive home care package.
Through these initiatives and ongoing cost management, BRI aims to maintain a gross profit margin of 31%, ready to face various economic challenges. The company also plans to launch the NOVO LAND Phase 3B project in Tuen Mun in the coming weeks, involving about 769 units, to sustain its "selling properties every month" strategy.
