Property/AP

AP Thailand reported net profit of 864 million baht in Q1 2025

Editorial staff

AP Thailand Plc maintained solid financial stability with revenues of 9.5 billion baht and net profit at 864 million baht in the first quarter of this year, despite uncertain economy.

In the second quarter of this year, the firm also launches 7 new low-rise projects worth of 12.1 billion baht.

Vittakarn Chandavimol, the company’s chief corporate strategy and creation, said that its net sales in the first quarter of this year was 12.1 billion. It had total revenues of 9.5 billion baht with a net profit of 864 million, while maintaining solid financial stability with debt to equity at only 0.68.” The operating results for the first quarter of this year reflect AP Thailand’s potential as a real estate company geared up to grow sustainably in the face of global economic uncertainties.

“Thailand’s economy in the second quarter remains highly challenging. We believe it won’t be an easy year, considering all the unavoidable factors still impacting from last year, despite all the measures from the government being taken to spur the economy and the real estate sector, such as the reduction of transfer-mortgage registration fees, the easing of LTV criteria for first-time home-buyers, as well as the domestic spending incentives. What enables us to stay strong in the storm is maintaining of financial stability, which is instrumental to operating in a fast-changing business landscape. At AP, we attach great importance to cash flow management, cost control and maintaining our ability to access quality funding to ensure we can progress with a solid foundation in any circumstance,” he said.

Vittakarn Chandavimol, the company’s chief corporate strategy and creation

In the second quarter, the company plans to launch 7 new low-rise projects worth a total of 12.1 billion baht, while continuing to market more than 180 ongoing projects. These will be key to generating steady cash inflow. In addition, it will be transferring ownership in 3 condominium projects worth a total of 8.1 billion, namely Aspire Sukhumvit-Rama 4 on the main Rama 4 Road near BTS Phra Khanong station featuring VERTIPLEX units, starting price of 3.89 million baht, Aspire Onnut station 200 metres from BTS On Nut station, starting at 4.19 million baht and the low-rise Aspire Arun Prive, at a starting price of 3.79 million baht.

The townhome and twin home business continues to pursue the business plan laid out for project development expansion into new zones such as Muang Ek Vibhavadi-Rangsit.

A pre-sale event is scheduled for Grande Pleno Vibhavadi-Rangsit – a massive twin home development being offered for a starting price of 5.49 million baht. It will build on the success in the Bang Na zone with the launch of Baan Klang Muang The Edition Bangna 2 – a 3-storey twin home near Mega Bang Na whose prices start at 10 million baht.

For the single detached home business, In the first half of this year, it plans to introduce 5 new projects under 3 brands include The Palazzo, an ultra-luxury single homes which are the ultimate in exquisiteness and luxury as proof of excellence in design on a high-potential site that supports extraordinary lifestyles.

The two projects are The Palazzo Pinklao – Borom - a luxury mansion project featuring a spacious clubhouse spanning 1,500 sq.m., starting price of 50 million baht. The Palazzo Krungthep Kreetha with the area of 1,140 sq.m., starting at 75 million baht. The City Ratchapruek-Phrannok , massive single home of 100+ sq. wah come up with the new series design in British modern Tudor architecture, thoughtfully designed to accommodate pets indoors, worthy of 25.9 million baht in starting price. Two projects are from the Centro brand of urban family home including Centro Sathorn – Suksawat – a modern Japanese-style home that preserves the distinctive essence of Japanese design, starting at 9 million baht andCentro Ladprao – Serithai - modern English-style home featuring a new rustic farmhouse design, starting at 12 million baht.

In 2025, the company has set a sales target for its portfolio of properties at 55 billion baht with total revenues, including from 100% JVs, projected at 52 billion baht. The year will see the company launching 42 new projects worth 65 billion baht. They include 15 single detached home projects worth 26.5 billion baht, 18 townhome and twin home projects worth 15 billion baht, 6 condominium projects worth 20.2 billion and 3 provincial projects worth 3.3 billion baht. When combined with ongoing projects, they will make AP Thailand the ultimate developer with the largest number of projects at 223 in Bangkok and nearby provinces, as well as all regions of Thailand.