ORI Reports a Net Profit of ฿825Mn in 1Q, Up 39%

Origin Property Public Company Limited (ORI) has announced its 1Q21 consolidated financial statement through the Stock Exchange of Thailand as follows;

ORI reported a net profit for the first quarter of 2021, amounting to 825.1 million baht, or 21.3% from the total revenues, an increase of 230.0 million baht, or 38.6%. According to the company performance for the first quarter, Real estate transferred activities of condominium and housing estate totaled 4,428.6 million baht, higher than the first quarter of 2020 by 1,034.7 million baht, or increase by 30.5%. 

 

As results of transferred activities from non-joint ventures company amount of 3,446.1 million baht and joint ventures company amount of 982.5 million baht. The resulting gain of transferred activities from joint ventures amounted to 125.0 million baht  (51% shareholding  proportion).

 

ORI still managed to maintain the high net profit margin at 21.3% by recognizing the profit from joint venture condominium projects (Joint Venture) with Nomura Real Estate Development Co., Ltd. are 4 projects namely Knightsbridge Prime Onnut, Knightsbridge Collage Ramkhamhaeng, Knightsbridge Prime Ratchayothin and Knightsbridge Space  Ratchayothin.