Assetwise Public Company Limited, or ASW, projects a second-quarter 2026 net profit of 539 million baht, up 171 percent from a year earlier and 135 percent from the previous quarter, marking a two-year high. The jump is mainly driven by the start of transfers at The TITLE Serenity Naiyang condominium project in Phuket, continued transfers at Kave Luminous Bangmod, and still-strong sales of the Kave-branded condos, pushing total quarterly transfers to 3.3 billion baht. Gross margin is expected to improve to 45 percent, thanks to a higher share of high-margin Phuket projects, while profit contributions from associates will rise as two new projects begin transfers. This puts first-half profit on track to reach 768 million baht, or 50 percent of the full-year forecast. Earnings are expected to keep growing in the second half, especially in the third quarter, with the start of transfers at three new condo projects carrying a combined backlog of 4.9 billion baht. Leading the pipeline is The TITLE Heritage Bang Tao, a 6-billion-baht premium condominium project in the Bang Tao area of Phuket, developed by Rompho Property Public Company Limited, or TITLE, an ASW subsidiary. The project sits on over 15 rai of land, comprises 789 units with starting prices of 5.5 million baht, and is scheduled for completion this August. Finansia Securities maintains its 2026 profit forecast at 1.5 billion baht, representing 43 percent growth, and keeps a buy rating with a target price of 9 baht. The broker highlights ASW's strength in a diversified project portfolio, particularly Phuket projects where demand remains robust, while the stock trades at a P/E of just 4.7 times and is expected to offer a dividend yield of around 8.5 percent in 2026.
Assetwise Public Company LimitedQ2 profit surge driven by condo transfers and strong sales, especially Phuket projects.
Rhom Bho Property Public Company LimitedSubsidiary TITLE's Phuket project transfers boost ASW's earnings, with robust demand.