SET: AP
9.20 Baht
-0.05 (-0.54%)
Company Overview

AP (Thailand) Public Company Limited (AP) is a leading real estate developer in Thailand, primarily engaged in the development and sale of residential properties. The Company's portfolio spans single detached houses, semi-detached houses, townhomes, and condominiums in high-potential locations across the country. AP is committed to addressing the diverse needs of consumers through thoughtfully designed living solutions that emphasize functionality, aesthetics, and convenient accessibility.

AP offers a comprehensive range of residential products that cater to all market segments, from Super Luxury (A+) to Economy (C), under clearly defined brands tailored to each target group:

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Single Detached Houses:

  • Super Luxury: The Palazzo, Baan Klang Krung
  • Luxury - Upper Mid Segment: The City, Centro
  • Economy: Moden

Townhomes:

  • Luxury: Baan Klang Muang Classe, Baan Klang Muang The Edition
  • Mid Segment: Grande Pleno, Baan Klang Muang
  • Economy: Pleno, Pleno Town

Condominiums:

  • Luxury: The Address, Rhythm
  • Mid Segment: Life
  • Economy: Aspire, Good Day

The Company remains focused on delivering residential products that meet the evolving demands of modern homeowners, considering key factors such as location, pricing, functionality, and lifestyle. This approach ensures AP can provide high-quality living experiences across all segments of the market.

Business Plan for 2025

In 2025, the Company targets total presales of THB 55,000 million. This includes THB 37,500 million from low-rise developments—comprising single detached houses, semi-detached houses, and townhomes—and THB 17,500 million from condominium projects.

The Company has set a total revenue target of THB 52,900 million. This consists of THB 37,000 million from low-rise projects, THB 14,600 million from condominium developments (including joint ventures), and THB 1,300 million from management and service income.

The Company plans to launch 44 new projects in 2025 with a total project value of THB 59,600 million. This includes:

  • 39 low-rise projects with a combined value of THB 47,700 million
  • 3 condominium projects with a combined value of THB 9,600 million
  • 2 provincial projects with a combined value of THB 2,300 million

Yes, the Company plans to launch new “Apitown” projects in three provincial locations: Khon Kaen (2nd project) and Ratchaburi with a total combined value of THB 2,300 million.

Q3 2025 Performance Summary

In Q3 2025, the Company reported total revenue of THB 9,124 million, representing a 8.3% decrease year-on-year. Net profit stood at THB 1,155 million, a decline of 20.4% from the same period last year.

9M 2025, the Company reported total revenue of THB 27,761 million, representing a 3.3% decrease year-on-year. Net profit stood at THB 3,025 million, a decline of 18.9% from the same period last year.

The Company has allocated a land acquisition budget of THB 15,000 million for 2025. As of 9M 2025, THB 10,092 million, or approximately 67.3% of the annual target, has been utilized.

The Company launched 14 new projects with a total project value of THB 23,950 million. This includes:

  • 11 low-rise projects with a combined value of THB 17,050 million
  • 1 condominium projects with a combined value of THB 4,600 million
  • 2 provincial projects with a combined value of THB 2,300 million

In July 2025, the company issued three new debenture tranches totaling THB 3,500 million.

As of the end of Q3 2025, the Company had 195 active projects with total remaining project value of THB 120,947 million. This includes 13 joint venture projects with remaining value of THB 13,016 million.

As of the end of Q3 2025, the total sales backlog stood at THB 34,218 million, consisting of: Low-rise projects: THB 13,233 million and Condominium projects: THB 20,984 million, including AP-owned condos: THB 4,943 million and Joint venture condos: THB 16,041 million. The condominium backlog is expected to be gradually recognized as revenue through 2029.

In Q4 2025, the Company plans to launch 22 projects with a total project value of THB 24,000 million, comprising:

  • 7 single detached house projects, total value THB 8,150 million
  • 14 semi-detached and townhome projects, total value THB 12,650 million
  • 1 condominium projects with a combined value of THB 3,200 million
Environmental, Social, and Governance (ESG)

AP (Thailand) Public Company Limited is strongly committed to sustainable business operations. The Company aims to balance strong financial performance with environmental stewardship and social development through its ESG (Environmental, Social, and Governance) framework:

Environment

  • AP Green Living Concept:
    Develops projects with environmentally conscious designs, efficient green space usage, energy optimization, and minimal environmental impact.
  • Commitment to Net Zero:
    Long-term target to reduce greenhouse gas emissions from development processes in support of the global Net Zero Carbon goal.
  • Eco-friendly Building Materials:
    Prioritizes the use of safe and environmentally friendly materials in construction and interior finishing.

Social

  • Enhancing Quality of Life:
    Designs with a focus on functionality and safety to foster livable communities and improve residents’ well-being.
  • Community Initiatives:
    Supports public benefit activities such as youth skill development, educational promotion, and community enhancement around project sites.
  • Employee Well-being:
    Emphasizes labor rights, employee welfare, and professional development to foster a positive and inclusive workplace.

Governance

  • Good Corporate Governance:
    Operates with transparency, strong governance, and accountability, recognizing the importance of all stakeholders.
  • Responsibility to Shareholders and Customers:
    Maintains transparent, straightforward communication and adheres strictly to ethical standards and anti-corruption policies.
  • ESG Disclosure:
    Publishes a Sustainability Report regularly on the Company’s ESG website: https://sustainability.apthai.com outlining its ESG performance and progress.

AP (Thailand) Public Company Limited has been awarded an “AA” rating under the SET ESG Ratings by the Stock Exchange of Thailand (SET) for two consecutive years. This recognition reflects the Company’s continued commitment to sustainable development across environmental, social, and governance dimensions.