Real estate development business for sale
| 6M26 | 6M25 | 2025 | 2024 |
|---|
| Revenues | 238.13 | 254.63 | 466.63 | 266.59 |
| Expenses | 186.30 | 233.84 | 401.92 | 225.09 |
| Net Profit (Loss) | 38.16 | 10.07 | 40.70 | 16.97 |
| Assets | 814.13 | 745.01 | 772.51 | 837.93 |
| Liabilities | 281.09 | 260.17 | 257.04 | 355.16 |
| Shareholders' Equity | 533.04 | 484.84 | 515.47 | 482.77 |
| Operating | -23.72 | 98.98 | 175.70 | 48.94 |
| Investing | 7.95 | -1.06 | -1.25 | -5.56 |
| Financing | 3.69 | -99.60 | -129.64 | -48.39 |
| EPS (Baht) | 0.12 | 0.03 | 0.13 | 0.05 |
| GP Margin (%) | 37.87 | 22.54 | 29.35 | 40.04 |
| NP Margin (%) | 16.03 | 3.95 | 8.72 | 6.36 |
| D/E Ratio (x) | 0.53 | 0.54 | 0.50 | 0.76 |
| ROE (%) | 13.52 | 5.02 | 8.15 | 3.70 |
| ROA (%) | 12.28 | 6.48 | 8.04 | 4.78 |
For business operations in 2026, the company will focus on broadly establishing its presence for customers to recognize and remember in the areas where projects are located. This will be achieved through building brand identity and systematically enhancing customer awareness in those areas, with the aim of becoming a top-of-mind real estate developer in the locations where its projects are situated.
Furthermore, the development of house designs that meet functional needs at an accessible price for both current and future projects, with designs that are “functional in every square meter” and do not lead to price wars. The focus is on creating differentiation through house designs that truly meet the practical needs of target customer groups at an accessible price, prioritizing functionality, usable space, and value for money over unnecessary luxury.
All of these are plans that the company anticipates will be a significant contribution in 2026, enabling the company to continuously expand projects in areas where it possesses expertise and to further achieve sustainable growth in accordance with its 3-year operational plan.
Following the Board of Directors' meeting on February 19, 2026, the Board resolved to approve the company's participation in the JUMP+ (Jump Plus) project. This proactive initiative aims to "Value Up" Thai listed companies, enhancing confidence and attracting both domestic and international investors. It is part of the Stock Exchange of Thailand's 3-year strategic plan (2025-2027). The primary objective of this project is to emphasize the prominence of listed companies across three key dimensions: Growth, Governance, and Sustainability.
Regarding the progress over the past 6 months of the JUMP+ project, all three of the company's defined plans continue to proceed as scheduled.
The company acquired land for the development of a new project, name Sequoia Project, with a planned launch in 2026. This initiative aims to enhance the company's sales growth. Additionally, on June 6, 2026, the company launched a new project, namely, Pine Condo Project, Building B.
Sales Revenue
For the 3-month period of Q2/2569, the company recorded sales revenue of 127.08 million Baht, an increase of 60.41 million Baht (For the 3-month period of Q2/2568, the company had revenue from the sale of land in the Nuanchan project amounting to 120 million Baht).
For sales revenue for the 6-month period of Q2/2569 amounting to 232.33 million Baht, an increase of 99.29 million Baht from the 6-month period of Q2/2568, due to higher transfers of ownership in ongoing projects compared to 2568, the Khela project which commenced operations and began transferring ownership to customers during 2568, and the new phase of the Pine Condo project, which launched on 6/6/2569 and began transferring ownership in Q2/2569. The company's revenue growth is also attributed to adjustments in marketing strategies, pricing, and promotions, which have positively impacted customer awareness and interest.
Total comprehensive income
For the 3-month period of Q2/2569, the company reported a total comprehensive income of 20.12 million Baht. For the 6-month period of Q2/2569, the company reported a total comprehensive income of 37.14 million Baht. For the 3-month period of Q2/2569, this represents an increase of 12.33 million Baht or 158.28% compared to the previous year, and for the 6-month period of Q2/2569, an increase of 27.07 million Baht or 268.82%. This is due to the company's increased sales revenue from housing estate and condominium projects in 2569, which led to a rise in gross profit commensurate with sales volume, thereby increasing total comprehensive income compared to the same period last year.
In 2026, the company plans to launch 2 new projects. In Q2, the company launched a new project, namely Pine Condo, Building B.
The company also plans to launch a new project in Q4, namely Sequoia Project.
Risks at the end of the quarter are trending positively across all aspects, including revenue, construction plans, interest rates, the risk of customer cancellations, and construction budgets aligned with the work plan, etc.
| as of 30/06/26 | JAK | PROPCON | mai |
|---|---|---|---|
| P/E (X) | 5.03 | - | 67.97 |
| P/BV (X) | 0.53 | 0.89 | 1.13 |
| Dividend yield (%) | 6.25 | 2.39 | 3.63 |
| 30/06/26 | 30/12/25 | 27/12/24 | |
|---|---|---|---|
| Market Cap (MB) | 281.60 | 220.80 | 454.40 |
| Price (B/Share) | 0.88 | 0.69 | 1.42 |
| P/E (X) | 5.03 | 7.68 | 28.45 |
| P/BV (X) | 0.53 | 0.45 | 1.01 |