9MFY17 presales:

SPALI currently has around Bt25.1bn in 9MFY17 presales, accounting for 93% of the full‐year target of Bt27bn, thanks to very strong sales of four newly launched condos in 3QFY17 which achieved total presales of Bt6.6bn. SDH/TH presales grew 14% y‐y in this period. To meet the above presales target, we assume SPALI will achieve SDH/TH presales of around Bt3bn in 4QFY17 and sales of existing condo inventories of Bt1bn.