End-of-day quote
Thailand S.E.
03:30:00 05/06/2024 am IST
5-day change
1st Jan Change
1.98
THB
0.00%
-1.00%
-11.61%
Quality Houses : Analyst Meeting Quarter 1/2024
May 10, 2024 at 04:56 pm IST
Executive Summary of 1Q24 Performance
1,687 MB
1,336 MB
Presales -18% YoY
Transfer
-16% YoY
26.0% 30.6%
%SG&A
+2.6% YoY
%Net Profit -0.7% YoY
- MB 1
Launched
- projects
Closed
projects
30.9%
0.39
503 MB
Land Capex Low rise
Presales & Transfer 1Q24
Presales
MB
2,048
1,161
1,687
289
111
75
1,759
1,086
1576
1Q23
4Q23
1Q24
1,590
1,916
1,336
135
149
74
1,455
1,767
1,262
1Q23
4Q23
1Q24
Condo
Housing
+45% QoQ -18% YoY
-30% QoQ
-16% YoY
4
2Q24
Casa Ville Teparak - Thanasit
SDH Mid-End 2,533 MB
TH Mid-End 1,282 MB
Q District
Ratchaphruk -
Rattanathibet
2Q24
4Q24
4Q24
Laddarom Wong Waen
Laddarom Phutta
Ramintra 2
Monthon Sai 3 - 2
SDH
SDH
Hi-End
Hi-End
1,763 MB
2,923 MB
TH
Total Value
Mid-End
9,804 MB
1,303 MB
Q District Tiwanon -
Hi-End :Mid-End
Rangsit
48% : 52%
4Q24
Active Projects & Backlog 1Q24
Remaining Projects
Remaining Value (MB)
67 projects
39,418 MB
12
10,188
33
18,978
22
10,252
Type
Status
DH
Prebuilt
TH
Prebuilt
Condo
Presales
Remaining Project Location
9%16%
91% 84%
Low Rise
Condo
Bangkok & Greater Bangkok
Provinces
Backlog
2022
604
62
666
2023
471
13
484
1Q24
766
47
813
Low rise
Condo
Financial Highlight
Unit: MB
1Q24
4Q23
1Q23
QoQ
YoY
Revenue
Property for sales
1,336
1,916
1,590
-30%
-16%
Low-rise
1,262
1,767
1,456
-29%
-13%
Condo
74
149
135
-50%
-45%
Property for rent
399
377
313
6%
27%
Office
31
32
34
-1%
-6%
Hotel
368
345
280
7%
32%
Other income
63
60
62
4%
1%
Total revenue
1,798
2,353
1,966
-24%
-9%
SG&A
528
589
482
-10%
9%
Equity income from associates
445
440
452
1%
-2%
Net profit
490
607
592
-19%
-17%
8
Equity Income from Associates
Equity Income, 445 MB
7% 4%
HMPRO
340 MB
+6.3% YoY
12%
LHFG
55 MB
-40.5% YoY
QHPF
31 MB
+12.9% YoY
77%
QHHR
18 MB
+45.8% YoY
Market Value (MB) per QH Stake
As of 31 Mar 2024
27,698
32,188
2,881
925
684
HMPRO
LHFG
QHPF
QHHR
Total
QH Stake
20%
14%
26%
31%
9
Financial Ratio
Gross profit margin
1Q24
4Q23
1Q23
Property for sales
30.9%
31.6%
33.6%
Low-rise
32.2%
33.7%
34.2%
Condo
8.3%
7.0%
26.6%
Property for rent
46.3%
43.7%
42.1%
Office
64.9%
54.3%
54.7%
Hotel
44.7%
42.7%
40.6%
Total
34.5%
33.6%
35.0%
SG&A to total revenue (%)
26.0%
20.2%
23.4%
Net profit margin (%)
30.6%
30.7%
31.3%
(excluding extra gain and provision)
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Disclaimer
Quality Houses pcl published this content on
10 May 2024 and is solely responsible for the information contained therein. Distributed by
Public , unedited and unaltered, on
10 May 2024 11:25:04 UTC .
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Duration Auto. 2 months 3 months 6 months 9 months 1 year 2 years 5 years 10 years Max.
Period Day Week
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Quality Houses Public Company Limited is a Thailand-based company, which is principally engaged in property development. The Company operates through four segments: real estate business, hotel business, rental business, and other. The real estate business segment consists of sales of land and houses and condominium units. The hotel business segment relates to the service of residential buildings. The rental business segment relates to the rental of office buildings. The others segment consists of providing management services for buildings and investing in businesses. Its projects are carried out under the brand names Q District, Prukpirom, and Laddarom. The Companyâs subsidiaries include Casa Ville Co., Ltd., Q.H. International Co., Ltd., Property Host Co., Ltd., The Confidence Co., Ltd., Q.H. Management Co., Ltd., Casa Ville (Rayong 2553) Co., Ltd., Casa Ville (Petchburi 2553) Co., Ltd., and Centre Point Hospitality Co., Ltd.
More about the company
Last Close Price
1.98
THB
Average target price
2.264
THB
Spread / Average Target
+14.37%
Consensus
1st Jan change
Capi.
-11.61% 580M +2.77% 25.96B -22.47% 12.41B +11.37% 11.22B -21.80% 8.07B -9.03% 6.73B +4.84% 6.7B -0.90% 6.47B +0.28% 3.84B +9.51% 3.46B
Residential Real Estate Development
+951% of historical performance
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