Mr Anant Asavabhokhin, President of Land & Houses Public Co.,Ltd, said the company and subsidiaries reported revenues of 4.708 billion baht from the transfer of 836 housing units to buyers during the third quarter of this year. Given the number of transferred units, the company holds a 22 % market share in the detached house sector built by developers in Greater Bangkok and vicinity.
Mr Anant added that the housing registration in the Bangkok Metropolitan area totaled 31,121 units during the first nine months of this year, rising 17% from the same period last year. Among the total registration, 17,011 units were built by developers or up 33% year-on-year.
Comparison of housing registration between self-built units and housing estates between January - September
| Type | 2002 (units) | 2003 (units) | change |
| Self-built units | 13,915 | 14,110 | 1.4 % |
| Units built by developers | 12,778 | 17,011 | 33 % |
| Total | 26,693 | 31,121 | 17 % |
Comparison of unit types for the registered units built by developers between January - September
| Type | 2002 (units) | 2003 (units) | change |
| Detached house | 5,703 | 9,077 | 59 % |
| Duplex | 6 | 459 | 7,550 % |
| Townhouse & Shophouse | 5,346 | 6,042 | 13 % |
| Condominium | 1,723 | 1,433 | - 17 % |
When comparing the projected registration in 2003 and 1995 (the year of housing registration peak), the forecast of units built by developers this year would be only 14.2% of the level in 1995.
Comparison of housing registration between 1995-2002 and the forecast in 2003
| Type | 1995 | 1996 | 1997 | 1998 | 1999 | 2000 | 2001 | 2002 | 2003* Forecast |
| Self-built units | 32,118 | 28,059 | 27,418 | 22,716 | 15,497 | 18,064 | 19,639 | 17,693 | 19,500 |
| Housing estates | 140,301 | 138,726 | 117,937 | 41,148 | 17,885 | 13,964 | 14,384 | 16,342 | 24,500 |
| Total | 172,419 | 166,785 | 145,355 | 63,864 | 33,382 | 32,028 | 34,023 | 34,035 | 44,000 |
Mr Anant is confident that the housing market will continue to grow with sustainable growth because housing demand comes from real buyers who have actual financial readiness and stability. Moreover, the sector has received strong supports from the government and banks are heavily competing to extend housing loans to homebuyers.
Mr Adisorn Thananan-narapool, Senior Executive Vice-President of Land & Houses, explained about the company's performance that the company and subsidiaries posted a profit of 1.838 billion baht during the third quarter of this year, up 58 % from the same period last year and has a net profit of 1.167 billion bath. During nine months of this year have got total profit 4.575 billion baht, increase 67 % from 2.735 billion baht at the same period last year.
Contributing to the rising profit in the third quarter was as following;
- The company and subsidiaries recorded revenues totaling 4.706 billion baht from the house transfer to buyers, up 15.14 % year-on-year.
- The company and subsidiaries booked higher profits from the divesting of non-core investment by 300 million baht when compared to the same period last year.
- Interest expenses in the third quarter of 2003 dropped by 29 million baht when compared to the same period in 2002 because the company was able to continuously lower debt burdens and financial costs following the falling interest rate trend in the financial market.
The company and subsidiaries repaid loans up to 2.700 billion baht during the nine-month period of this year. The shareholders' equity rose by 5.000 billion baht due to healthy profits during the first nine months. The debt to equity ratio of L&H and subsidiaries stood at 0.2:1 at the end of third quarter, down from 0.4:1 at the end of 2002.
With strong financial status and the total cash on hand of 1.500 billion baht, the company's board of directors approved an interim dividend payment to shareholders at .25 baht per share, the second interim dividend payment in 2003. This year, the company's first interim dividend payment to shareholders was made in September at 0.20 baht per share.