Real estate and construction businesses reported revenue for 2010 with income over 3 trillion baht and a total profit of 35 billion baht. Italian-Thai Development PCL revenue was up to 36,676 million baht.
Thirty five housing developers had combined earnings of 1.61 billion, an increase of 16%, and profits jumped more than 26% to over 23 billion baht. Ranking first in profits was Land And House with 3,876 million and Pruksa ranked first for earnings at 23,406 million.
In the property sector and the construction sector, not including building materials, 62 companies in 2010 had revenues from operations at more than 3.07 billion baht, an increase of 2.72% from 2009 with revenue valued at more than 2.99 billion baht, while the profit from the operations of all companies was equivalent to 35,261.90 million baht, up 39.13% from 2009 with total profits of 25,343.62 million baht.
For the past year, considering only a total of about 35 residential real estate development companies, there was a total combined revenue of more than 1.61 billion baht, an increase of 16.18% from 2010’s income of 1.39 billion baht. Profit was set at 23,314.16 million, up 26.43% from 2009’s value of 18,439.10 million. The top three companies in terms of gross revenue were Pruksa, Sansiri PCL and Land and House PCL. The top three most profitable companies were Land and House, Pruksa and Supalai PCL. In construction, the top three highest grossing were Italian-Thai Development, CH Karnchang PCL and Sino-Thai Engineering & Construction PCL. The top three highest earning contractors were Sino-Thai, Christiani & Nielsen and Toyo-Thai Corporation PCL.
However, during the past year many companies growth performance increase but at the same time many companies also loss from operations especially five residential development companies with its operating losses were Golden Land Property Development Ltd. (Thailand) loss more than 285 million, Living and Capital PCL (Thailand) loss more than 148 million, Grand Canal Land PCL (Thailand) loss 86.25 million baht, Everland PCL loss 39.10 million and KC Property PCL loss around 8.31 million.
For building contractor with operating losses were Ch. Karnchang PCL loss more than 319.27, Scan Global PCL, with its performance up to 3rd Quarter in 2010 losses more than 94.72 million and EMC PCL loss more than 71.35 million.
In the past year’s results, most of the companies listed on the SET saw significant growth because of economic conditions in the past year facilitating business growth. This was coupled with a huge demand for housing which continued into the second year of growth since 2009. Last year the real estate industry had the highest growth since 2007 and growth will continue this year as well.
It is believed that businesses will continue to expand continually for another year because real demands still exist even though current oil prices and interest rates are increasing. If companies expand gradually there should not be problem and everyone would be able to adapt. One important factor that will halt business is the problem of political violence that has increased.