20% growth targeted after restructuring

The listed developer NC Housing Plc (NCH) targets an annual growth in a range of 20% to 25% and plans to enter the condominium market this year after restructuring its finances by decreasing short-term loans.

Managing director Somchao Tanterdtham said the company recorded higher sales last year which increased its financial liquidity. Debt-to-equity ratio continued dropping to 0.58 time as at the end of 2011 from one time two years ago.

“Our financial status is strong enough to develop condominium project,” he said. “It will be a learning curve for us in the high-rise segment. When the condominium market booms, we will be ready for it.”

Its condominium projects will be valued at 200-500 million baht each, with unit prices of 1-2 million baht.

This year, the condominium investment will be only 10-20% of the total. Continue reading →