The SET-listed property developer Sansiri Plc has set its sights on revenue growth of 30% to reach 36 billion baht this year, boosted by a strong backlog.
Sansiri ended 2012 with historic high sales worth 42.1 billion baht, outstripping its forecast 40-billion-baht target and more than doubling its sales in 2011.
Sansiri last year launched 52 projects worth 57 billion baht covering Bangkok and provincial areas in all segments of the market, including condos, single homes, home offices and shophouses.
Sansiri's 2012 revenue is estimated at over 28 billion baht.
"The outstanding sales performance was mainly thanks to the company's strategic plans to penetrate the provincial markets such as Hua Hin, where the company is the condominium leader," said managing director Srettha Thavisin.
In 2012, the company launched 24 provincial projects worth 21 billion baht, nine of which were in Hua Hin, eight in Phuket, two in Chiang Mai, three in Khao Yai, one in Pattaya and another in Khon Kaen.
Sales from provincial markets rose to 40% overall, besting a 15% target set in early 2012.
"Our developments in the provincial market were overwhelmed by the response last year, allowing the company to close sales rapidly and continuously," said Mr Srettha. "We expect sales from provincial markets to continue growing."
He attributed the historic sales growth to a sophisticated precast factory that opened last March. The 600-million-baht facility in Pathum Thani province has a monthly capacity of 150 houses, helping speed delivery.
Additionally, the company opened Sansiri Lounge on the third floor of Siam Paragon, creating a lifestyle space dedicated to the exquisite pleasures of Sansiri customers. Similar spaces were added in key markets like Phuket and Hua Hin.
"We expect to achieve revenue as projected, as Sansiri has a presale backlog worth up to 53 billion baht over the next three years, 50% of which is likely to be realised this year," said Mr Srettha.
Shares of SIRI closed yesterday on the SET at 3.58 baht, up six satang, in trade worth 225.97 million baht.
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- Writer: Post Reporters