Ananda chief executive Chanond Ruangkritya.

SET-listed Ananda Development Plc (ANAN) plans to launch 16 projects worth a combined 35.1 billion baht this year and aims to have 34.9 billion baht in presales by the end of the year.

Chief executive Chanond Ruangkritya said the new projects will comprise eight condominium sites and eight low-rise projects. There will be also seven joint venture projects with Japanese developer Mitsui Fudosan.

"We aim to boost development of joint venture projects from a total of 95 billion baht as at the end of last year to more than 114 billion baht this year," he said.

The company announced yesterday that revenue rose 6% year-on-year to 12.95 billion baht for the whole of 2017, reaching an all-time high.

Presales last year totalled 34.9 billion baht, 7% higher than targeted and the most since the founding. Of this amount, 9.77 billion baht was from overseas markets.

As of the end of 2017, Ananda had a sales backlog of 53.7 billion baht, which will be realised until 2021.

Nonetheless, Ananda reported a 12% decline in net profit to 1.32 billion baht from 1.5 billion baht in 2016, as net profit margin fell to 10% from 12% a year earlier.

In 2017, Ananda launched a total of 11 new condo projects and five new housing projects, with a total project value of 42.5 billion baht, up 105% from a year earlier and a record high for launches.

The company launched new condo projects worth 36.6 billion baht, making it the biggest launcher of condo projects in 2017 in Thailand.

Ananda also expanded its international sales in 2017 from its first initiation in September 2013. The company had 9.78 billion baht in international sales, up 164% from 2016.

In 2017, the company increased the number of joint venture projects with Mitsui Fudosan by an additional 25 billion baht in six projects, including Ideo Q Sukhumvit 36, Ideo New Rama 9, Elio Del Nest, Ideo Mobi Rangnam, Elio Del Moss and a condo project at Rama 9, bringing the total value of joint venture projects to 95 billion baht for 21 projects.

The company plans to develop more joint venture projects leading to the total joint venture development value of more than 114 billion baht in 2018, up from 95 billion baht in 2017.

It expects to transfer residential units worth a total of 38 billion baht by the end of the year and aims for 70 billion baht in 2021.

ANAN shares closed yesterday on the Stock Exchange of Thailand at 5.15 baht, up 15 satang, in trade worth 104 million baht.