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2Q18 Quarterly Results SET Opportunity Day 24 Aug 2018 2Q18 - - PowerPoint PPT Presentation

2Q18 Quarterly Results SET Opportunity Day 24 Aug 2018 2Q18 Quarterly Results | SET Opportunity Day | 24 Aug 2018 Disclaimer The information (the Information) contained in this presentation is strictly confidential and is provided by


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SLIDE 1 2Q18 Quarterly Results | SET Opportunity Day | 24 Aug 2018

2Q18

SET Opportunity Day

24 Aug 2018

Quarterly Results

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SLIDE 2 2Q18 Quarterly Results | SET Opportunity Day | 24 Aug 2018

The information (the “Information”) contained in this presentation is strictly confidential and is provided by Nirvana Daii Public Company Limited (“NVD”) solely for information purpose and does not constitute an offer or invitation to sell or the solicitation of an

  • ffer or invitation to purchase or subscribe for share in NVD. Any such purchase should be made solely on the basis of the information

contained in the announcements to the Stock Exchange of Thailand relating to such securities. No reliance may be placed for any purposes whatsoever on the information set forth in this presentation or on its completeness. Neither this presentation nor any part thereof may be (i) used or relied upon by any other party or for any other purpose; (ii) copied, photocopied, duplicated or otherwise reproduced in any form or by any means; or (iii) redistributed, passed on or otherwise disseminated, to any other person either in your

  • rganization or elsewhere, without the prior written consent of NVD.

This presentation contains projections and forward‐looking statements that reflect NVD's current views with respect to future events and financial performance. These views are based on our management’s assumptions and beliefs in light of the information currently available to us including a number of estimates and current assumptions which are subject to business, economic and competitive uncertainties and contingencies as well as various risks and these may change over time and in many cases are outside our control. Although care has been taken to ensure that the Information in this presentation is accurate, and that the opinions expressed are fair and reasonable, the Information is subject to change without notice, its accuracy is not guaranteed, has not been independently verified and it may not contain all material information concerning NVD. You are cautioned not to place undue reliance on these forward looking statements. No assurance can be given that future events will occur, that projections will be achieved, or that NVD's assumptions are correct. Please note that NVD and executives/staff do not control and cannot guarantee the relevance, timeliness, or accuracy of these

  • Information. NVD undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new

information, future events or otherwise. None of NVD’s executives/staff or any of its agents, or all of their respective affiliates, or representatives shall have any liability (in negligence or otherwise) for any loss howsoever.

Disclaimer

2

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SLIDE 3 2Q18 Quarterly Results | SET Opportunity Day | 24 Aug 2018

Agenda

3

▪ 2Q18 Key Activities

▪ BAAN Nirvana Soft Opening ▪ Change of Bourse: NVD Moved to SET ▪ Soft Opening: Nirvana DEFINE Srinakarin-Rama 9 ▪ Debentures Issuance & Offering ▪ Disposition of Investment in Landy Development

▪ 1H18 Financial Results

▪ Consolidated Statements of Incomes & Financial Positions

▪ 2H18 Outlook

▪ On-going Projects with Sales-Transfers-Backlog Report ▪ Update on Landbanks ▪ Signed JVA to Develop a Single Detached House Project

▪ Strategy Execution

▪ Strategic Direction & Financial Goal ▪ Update on Nirvana Beyond Udonthani: Home Building Service – Project ▪ Update on Construction Services ▪ Update on Prefabricated Park&Ride Structure ▪ 2018 Expected Milestones

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SLIDE 4 2Q18 Quarterly Results | SET Opportunity Day | 24 Aug 2018

1H18

SET Opportunity Day

24 Aug 2018

Key Activities

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SLIDE 5 2Q18 Quarterly Results | SET Opportunity Day | 24 Aug 2018

1H18 Key Activities

5

2Q18 Quarterly Results | SET Opportunity Day | 24 Aug 2018

Feb 2018

Grand Opening: Banyan Tree Residences – Riverside Bangkok

  • 45-story Freehold, Riverfront Condominium
  • Formal launch

Mar 2018

Exclusive Sales: Nirvana DEFINE Srinakarin-Rama 9

  • First presales event
  • 173-units fully-prefabricated Townhouses
  • Street-front on Srinakarin-Romklao Road
  • About 30 units, worth nearly Bt.300m,

sold in one weekend Apr 2018

Soft Launch: BANN Nirvana

  • Home Building

Reimagined

  • Home Building

Services

  • Retails
  • Projects

Jun 2018

Soft Opening: Nirvana DEFINE Srinakarin-Rama 9

  • Second presales event
  • Launched two more types of show units, Type-A & Type-B

May 2018

Change of Bourse:

  • NVD moved from MAI to SET
  • First-day trade on May 24, 2018

Jun 2018

Disposition of Investment

  • NVD sold its entire 595,000 shares or 14.89% of

Landy Development Co.,Ltd. on Jun 29, 2018

  • Disposing investment in which NVD has no power to manage
  • Sold amount was Bt. 25m

Jun 2018

Debentures Issuance & Offering

  • Offering to Institution Investors
  • Issue Size of Bt.1,200m
  • Purpose for working capital, business expansion, investment and/or

debt repayment

  • No.1/2018: Bt.1,000m Callable, Name-Registered, Unsubordinated

and Secured Debentures with Debenture-holders’ Representative

  • No.2/2018: Bt.200m Name-Registered, Unsubordinated and

Unsecured Debentures without a Debenture-holders’ Representative

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SLIDE 6 2Q18 Quarterly Results | SET Opportunity Day | 24 Aug 2018

Apr-18: BAAN Nirvana Soft Launch

  • Prefabricated Home Building Services for

both retails as well as for projects

  • Available series: BEYOND | ICON | GABLE

2Q18 Key Activities

Booth at Architect Expo’18 Home Building Center: Rama 9

2Q18 Quarterly Results | SET Opportunity Day | 24 Aug 2018
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SLIDE 7 2Q18 Quarterly Results | SET Opportunity Day | 24 Aug 2018 2Q18 Quarterly Results | SET Opportunity Day | 24 Aug 2018

May-18: Change of Bourse

  • NVD was approved to move

from MAI to SET

  • First-day trade was on May 24
  • Added exposure in regional as

well as global investment community

2Q18 Key Activities

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SLIDE 8 2Q18 Quarterly Results | SET Opportunity Day | 24 Aug 2018

Project Value

2Q18 Quarterly Results | SET Opportunity Day | 24 Aug 2018

8

Jun-18: Soft Opening – Nirvana DEFINE Srinakarin-Rama 9

  • Second presales event

Launched two more types

  • f Show Units:
  • Type-A
  • Type-B

Project Value

Bt.1,900m

▪ 173-units fully-prefabricated Townhouses ▪ Street-front on Srinakarin-Romklao Road
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SLIDE 9 2Q18 Quarterly Results | SET Opportunity Day | 24 Aug 2018

9

Jun-18: Debentures Issuance & Offering

2Q18 Key Activities

  • Debentures of Baht 1,200 million issued

& offered on Jun 21-22, 2018

  • For working capital, business expansion,

investment and/or debt repayment

Issue Date: 22 Jun 2018 Issue Size: Bt.1,000m Tenor: 2 years Coupon Rate: Fixed 5.00% p.a. Par Value: Bt.1,000 per unit Offering Price: Bt.1,000 per unit Principle Payment: Bullet payment at maturity date Interest Payment: Every 3 months on 22 Mar, 22 Jun, 22 Sep and 22 Dec of each year Maturity Date: 22 Jun 2020 Early Redemption: Callable option to redeem all/partial amount after 1 year

Debentures No.1/2018

Issue Date: 21 Jun 2018 Issue Size: Bt.200m Tenor: 1 year Coupon Rate: Fixed 5.25% p.a. Par Value: Bt.1,000 per unit Offering Price: Bt.1,000 per unit Principle Payment: Bullet payment at maturity date Interest Payment: Every 3 months on 21 Mar, 21 Jun, 21 Sep and 21 Dec of each year Maturity Date: 21 Jun 2019 Early Redemption: None

Debentures No.2/2018

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SLIDE 10 2Q18 Quarterly Results | SET Opportunity Day | 24 Aug 2018

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Jun-18: Disposition of Investment

  • NVD sold entire investment in

Landy Development Co.,Ltd. (Landy), 595,600 shares or 14.89% stake, for Bt.25m on Jun 29, 2018

  • Landy investment been held by

DAII since 2006 prior to the merger with Nirvana Development Co.,Ltd.

  • Objective was to dispose investment

in which NVD has no power to manage

2Q18 Key Activities

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SLIDE 11 2Q18 Quarterly Results | SET Opportunity Day | 24 Aug 2018

1H18

Financial Results

SET Opportunity Day

24 Aug 2018

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SLIDE 12 2Q18 Quarterly Results | SET Opportunity Day | 24 Aug 2018

2Q18 Financial Results

12

Consolidated Statements of Incomes

Less Extent of Transformation Impacts in 2Q18 ▪ Crucial strategy to entirely transform NVD’s construction method from conventional to prefabricated constructions ▪ Objective was to fully capitalize on DAII’s expertise and achieve higher construction efficiency as soon as possible. ▪ Nirvana DEFINE Srinakarin‐Rama 9 was the first project to adopt the prefabricated construction. ▪ Being sophisticatedly‐designed townhomes, transformation process took longer than expected, causing delay in the project launch by 6 months. ▪ Impact of the transformation was, however, less severe in 2Q18 than in 1Q18. ▪ Nirvana DEFINE Srinakarin‐Rama 9 was finally launched in late Mar‐18 with strong sales during its first weekend, recording higher presales units than its prior project, Nirvana DEFINE Rama 9. ▪ More interestingly, prefabricated construction proved to shorten time to transfers. ▪ First 11 townhome units were transferred in Jun‐18, only three months after the project launch. ▪ Such swift time‐to‐transfer would not have been possible with the conventional construction. ▪ 2Q18 was thus the first quarter that witnessed the higher construction efficiency.

CONSTRUCTION

Conventional

PREFAB

FULLY PREFABRICATED

Bt.m

%Change Revenue from sales of real estate 459.7 73% 316.1 74%

  • 31%

Revenue from construction contracts 145.5 23% 83.6 19%

  • 43%

Revenue from sales of goods 27.9 4% 29.9 7% 7% Total revenue 633.0 100% 429.6 100%

  • 32%

Costs of sales of real estate (297.3)

  • 65%

(209.8)

  • 66%
  • 29%

Costs of construction (115.8)

  • 80%

(70.6)

  • 85%
  • 39%

Costs of sales of goods (21.3)

  • 76%

(17.6)

  • 59%
  • 18%

Total costs (434.4)

  • 69%

(298.0)

  • 69%
  • 31%

Gross profit 198.7 31.4% 131.6 30.6%

  • 34%

Other income 11.9 2% 25.3 6% 113% Selling expenses (79.1)

  • 12%

(60.1)

  • 14%
  • 24%

Administrative expenses (62.0)

  • 10%

(50.6)

  • 12%
  • 18%

Net loss from exchange rate 0.0 0% 1.0 0% nm Financial costs (interest expenses) (3.5)

  • 1%

(2.3)

  • 1%
  • 35%

EBT 66.0 10% 44.9 10%

  • 32%

Income taxes (13.6)

  • 2%

0.5 0%

  • 103%

Net Profit (losses) 52.4 8% 45.4 11%

  • 13%
Baht

Earnings (losses) per share 0.045 0.033

Unaudited

2Q18

Unaudited

2Q17

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SLIDE 13 2Q18 Quarterly Results | SET Opportunity Day | 24 Aug 2018 Bt.m

%Change Revenue from sales of real estate 997.1 76% 707.0 73%

  • 29%

Revenue from construction contracts 265.1 20% 179.0 19%

  • 32%

Revenue from sales of goods 52.8 4% 80.1 8% 52% Total revenue 1,315.0 100% 966.1 100%

  • 27%

Costs of sales of real estate (650.0)

  • 65%

(440.1)

  • 62%
  • 32%

Costs of construction (209.7)

  • 79%

(146.0)

  • 82%
  • 30%

Costs of sales of goods (40.8)

  • 77%

(64.6)

  • 81%

58% Total costs (900.5)

  • 68%

(650.7)

  • 67%
  • 28%

Gross profit 414.5 32% 315.4 33%

  • 24%

Other income 19.0 1% 48.0 5% 152% Selling expenses (167.5)

  • 13%

(156.5)

  • 16%
  • 7%

Administrative expenses (113.0)

  • 9%

(103.1)

  • 11%
  • 9%

Net loss from exchange rate 0.0 0% (3.9) 0% nm Financial costs (interest expenses) (6.9)

  • 1%

(4.5) 0%

  • 36%

EBT 146.1 11% 95.4 10%

  • 35%

Income taxes (34.3)

  • 3%

(12.9)

  • 1%
  • 62%

Net Profit (losses) 111.8 9% 82.5 9%

  • 26%
Baht

Earnings (losses) per share 0.097 0.064

Unaudited

1H17

Unaudited

1H18

1H18 Financial Results

13

Consolidated Statements of Incomes

▪ Transformation process to prefabricated construction impacted revenue growth ▪ Transfers of home‐office segment remained weak from SMEs’ less ability to obtain bank loan approvals. ▪ Townhome segment continued strength. ▪ Nirvana BEYOND Rama 2 and Nirvana BEYOND Srinakarin transfer pace continued to pick up in 2Q18. ▪ Sales of Goods up mainly from additional sales of structural precast concrete beams, columns, and footings to the Crossroads Project in Maldives Blended gross margin improved in percentage term: ▪ Sales of partial street-front land along Srinakarin-Romklao Road in 1Q18 ▪ Land trading as part of asset maximization strategy

32% 33% 1H17 1H18

Financial costs down: ▪ Interest expenses incurred from bridging loan of SD4.1 being capitalized as cost of property development. Other Income up: ▪ Some land along Srinakarin‐Romklao Road being expropriated; Net expropriated value booked in 1Q18 ▪ Sales of investment in Landy Development Co.,Ltd. in 2Q18 SG&A down: ▪ Savings of selling and ops expenses from project closing: Nirvana BEYOND Lite and Nirvana ICON Rama 9 ▪ Non-recurring, one‐off fees and services expenses of M&A transaction last year. ▪ Forex loss from strong THB against USD in relations to precast concrete shipments to Maldives Income taxes down: ▪ Accounting adjustment for deferred tax assets ▪ Adjustment made to reflect utilization of loss carry forward tax credit of Nirvana River Co.,Ltd.m BTRRB developer

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SLIDE 14 2Q18 Quarterly Results | SET Opportunity Day | 24 Aug 2018

2Q18 Financial Results

14

Consolidated Statements of Financial Position

Overall balance sheet size increased from YE17 on transfers of more land & construction works in progress

Assets

▪ Inventory and Costs of Property Development increased from: ▪ About 61 rais of SD4.1 and 71.5 rais of Lake being reclassified from Land Held for Development ▪ Transfer of about 88.4 rais of SD5 in preparation for new projects ▪ Works in progress of BTRRB & Nirvana DEFINE Srinakarin-Rama 9 ▪ Land Deposits down YE17 as the above land being transferred ▪ Restricted Bank Deposits decreased from AVAL facilities for SD4.2 due to 1Q18 ▪ Land Held for Development remained at end of 2Q18 are landbanks on Rattanathibate Road

Liabilities

▪ Total Land Purchase Payables (both short‐term and long‐term) of Bt.1,433m (Bt.987m+Bt.446m) increased 20% from Bt.1,197m at YE17. ▪ About 61 rais of SD4.1 and 19 rais of SD4.2 were paid for in 1Q18, but transfers of 71.5 rais of Lake in 1Q18 and 88.4 rais of SD5 in 2Q18 caused the net increase of Bt.235.7m from YE17. ▪ Interest-Bearing Debts increased due to: ▪ Bt.1,000m Debentures No.1/2018, ▪ Bt.200m Debentures No.2/2018 ▪ Drawdowns of BTRRB project financing loan

Bt.m 31-Dec-17 30-Jun-18 %Change

Assets Cash and cash equivalents 991.7 1,153.8 16% Inventory & Costs of property development 4,662.0 7,516.9 61% Land deposits 200.3 60.3

  • 70%

Total CA 6,393.2 9,412.8 47% Non-current assets Restricted bank deposit 382.6 6.7

  • 98%

Land held for development 2,106.8 1,312.4

  • 38%

Property, plant and equipment, net 356.4 433.3 22% Goodwill 331.5 331.5 0% Total non-current assets 3,356.0 2,277.1

  • 32%

Total assets 9,749.2 11,689.9 20% Liabilities and equity Land Purchase payables (due within 1 year) 1,197.3 987.0

  • 18%

Land Purchase payables (over 1 year)

  • 446.0

100% Interest-bearing debts (due within 1 year) 1,360.4 1,578.7 16% Interest-bearing debts (over 1 year) 1,464.0 2,947.6 101% Total liabilities 5,045.1 6,986.1 38% Paid-up share capital 1,380.6 1,380.6 0% Premium on share capital 1,251.4 1,251.4 0% Premium from acquisition 1,589.3 1,589.3 0% Retained earnings 402.0 407.9 1% Total equity 4,704.1 4,703.8 0% Total liabilities and equity 9,749.2 11,689.9 20% Net IBDE ratios 0.39 0.72 85% TL-TE ratios 1.07 1.49 38%

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SLIDE 15 2Q18 Quarterly Results | SET Opportunity Day | 24 Aug 2018

2H18

Outlook

SET Opportunity Day

24 Aug 2018

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SLIDE 16 2Q18 Quarterly Results | SET Opportunity Day | 24 Aug 2018

16

  • 1. Nirvana BEYOND - Kaset Nawamin
  • 2. Nirvana BEYOND - Srinakarin
  • 3. Nirvana BEYOND - @Beach
  • 4. Nirvana BEYOND - Rama 2
  • 5. ICON - WW-Rama 9
  • 6. ICON - Pinklao
  • 7. The TARA - Ramindra
  • 8. CLUSTER by Nirvana - Raspattana
  • 9. COVER by Nirvana - On-nut

10.DEFINE - Rama 9 11.DEFINE - Srinakarin-Rama 9 12.@WORK - Ramintra 13.@WORK - Ladprao-Kaset Nawamin 14.BANYAN TREE Residences Riverside Bangkok

Single Detached Homes Townhomes Home Offices Condominium

1 2 4 5 6 7 8 9 10 12 13 14 11

2H18 Outlook: On-going Projects

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SLIDE 17 2Q18 Quarterly Results | SET Opportunity Day | 24 Aug 2018

2H18 Outlook: On-going Projects

17

*Nirvana Beyond @Beach is closed *Project value of Icon Pinklao decease due to remodeling of the house type

As of Jun 30, 2018

Projects Project Values Price Range Total Project Sold Transferred Backlog Available for Sales Single Detached Homes Nirvana BEYOND - Kaset Nawamin Ph.1 1,070 12-35 67 66 66 1 Nirvana BEYOND - Srinakarin 992 13-35 58 47 40 7 11 Nirvana BEYOND - @Beach 424 15-20 21 1 1 20 Nirvana BEYOND - Kaset Nawamin Ph.2 717 15-30 37 35 35 2 Nirvana BEYOND - Rama 2 Ph.1 1,622 16-60 66 17 15 2 49 Nirvana BEYOND - Rama 2 Ph.2 1,005 14-30 54 3 2 1 51 ICON - WW-Rama 9 515 6-20 36 35 35 1 ICON - Pinklao 192 16-23 28 1 1 27 The TARA - Ramintra 274 4-10 53 39 39 14 Townhomes CLUSTER by Nirvana - Ratpattana 103 3-8 20 9 9 11 COVER by Nirvana - On-nut 550 2-6 194 193 193 1 DEFINE - Rama 9 628 8-27 51 48 47 1 3 DEFINE - Srinakarin-Rama 9 1,900 7-20 173 48 11 37 125 Home Offices @WORK - Ramintra 1,054 13-25 61 24 23 1 37 @WORK - Ladprao-Kaset Nawamin 1,055 13-31 56 16 12 4 40 Condominium BANYAN TREE Residences Riverside Bangkok 6,519 20-300 133 67 67 66

Estimated Values (Bt.m) 3,086 10,292

Bt.m #Units

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SLIDE 18 2Q18 Quarterly Results | SET Opportunity Day | 24 Aug 2018

18

2H18 Outlook: Nirvana DEFINE Srinakarin-Rama 9

  • A few more blocks of backlogs scheduled

to be ready for transfers in 3Q18

  • Third presales event plan in early Sep-18
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SLIDE 19 2Q18 Quarterly Results | SET Opportunity Day | 24 Aug 2018

IN TWILIGHT

45F OLDTOWN

Project Value ▪ 45-story Freehold, Riverfront Condominium ▪ 70% JV Project along Chaopraya River

& Golden Line Skytrain

▪ Branded Banyan Tree Residences ▪ Construction by Bouygues-Thai Ltd. ▪ Design consultant by SCDA ▪ All 45 floors completed, façade works in progress ▪ Transfer expected from late 2018 onwards

Bt.6,000m+

19

2H18 Outlook: Banyan Tree Residences – Riverside Bangkok

2Q18 Quarterly Results | SET Opportunity Day | 24 Aug 2018
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SLIDE 20 2Q18 Quarterly Results | SET Opportunity Day | 24 Aug 2018

263rai

104 acres

Srinakarin-Romklao Road

Rattanathibet Road

35,000m

POTENTIAL PROJECT VALUE

Bt.

20

7.9rai 4.5rai

3.1 acres 1.8 acres

276rai

HIGH-POTENTIAL, QUALITY ASSETS

108.9 acres

2H18 Outlook: High-potential Landbank

2Q18 Quarterly Results | SET Opportunity Day | 24 Aug 2018
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SLIDE 21 2Q18 Quarterly Results | SET Opportunity Day | 24 Aug 2018

2H18 Outlook: Signed JVA to Develop a Single Detached House Project

21

Real Estate Investor

Nirvana Daiwa Development Company Limited [NDD] 49% 49% 2%

All-new

  • JV company with registered capital
  • f Bt.421m
  • Objective to jointly develop Nirvana

Beyond Krungthep-Kreetha on 27-rai land plot on Srinakarin Romklao Road

  • Project value of about Bt.2,600m
  • Approximate project investment

value of Bt.1,633m:

  • Land cost of Bt.756m
  • Construction cost of Bt.877m
  • NDD setup expected to complete in 3Q18

27

rai

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SLIDE 22 2Q18 Quarterly Results | SET Opportunity Day | 24 Aug 2018

FY18

Strategy Execution

SET Opportunity Day

24 Aug 2018

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SLIDE 23 2Q18 Quarterly Results | SET Opportunity Day | 24 Aug 2018

23

DEVELOP FOR SALES RECURRING INCOMES

TOWNHOUSE HOME-OFFICE CONDO

Park&Ride Structures

DEVELOP

For Rents/Manage

Aluminum Windows & Doors

Paving

CONSTRUCTION SERVICES

& Building Materials

Telecom Sector

LAND TRADING FOR ASSET MAXIMIZATION PURPOSES

SDH HOME BUILDING SERVICES

Strategic Direction: Quality of Growth

Projects

& Retails

Serviced Apartments Hospitality Sector

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SLIDE 24 2Q18 Quarterly Results | SET Opportunity Day | 24 Aug 2018

24

Financial Goal

Land Acquisition Strategy JV & Partnership Collaborations Recurring Income Businesses

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SLIDE 25 2Q18 Quarterly Results | SET Opportunity Day | 24 Aug 2018

25

Strategy Execution: Nirvana BEYOND Udonthani (JV)

▪ MOU signed with Landlord in Mar 2018 ▪ Prime location next to Nongprajak Lake in Central Udonthani ▪ Expected project value of approx. Bt.1,000m ▪ JV: Less capital employed with provincial brand exposure

Bt.1,000m

Expected Project Value

2Q18 Quarterly Results | SET Opportunity Day | 24 Aug 2018

Home Building Service – Project

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SLIDE 26 2Q18 Quarterly Results | SET Opportunity Day | 24 Aug 2018

26

Strategy Execution: Construction Services

▪ NVD Group is awarded to supply precast-concrete structures to CROSSROADS Maldives Project in Sep-17 ▪ Phase 1: First three shipments delivered during Oct17-Jan18 ▪ Phase 2: Awarded to construct beach villas for Hard Rock Hotel

2Q18 Quarterly Results | SET Opportunity Day | 24 Aug 2018
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SLIDE 27 2Q18 Quarterly Results | SET Opportunity Day | 24 Aug 2018
  • Structure being prefabricated at the factory

while piling works are done at site

  • Park&Ride operations expected to

commence by YE18

27

Strategy Execution: Prefabricated Park&Ride Structure

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SLIDE 28 2Q18 Quarterly Results | SET Opportunity Day | 24 Aug 2018

1H18 2H18

DEVELOP FOR SALES RECURRING INCOMES

Grand Opening Transfers to Begin

LOW-RISE CONDO

Parking Structure Udonthani JV

All-new Subject to Change

Bangna HOME BUILDING CENTER Rama 9 HOME BUILDING CENTER

RECREATION PARK CHIENGRAI

Prefabricated Resort Builder

CONDO HOME BUILDING SERVICE CONSTRUCTION SERVICES

Maldives

DEVELOP FOR RENTS

28

2018 Expected Milestones

SINGLE HOUSES

Krungthep Kreetha Exclusive Sales Soft Opening

TOWN HOUSES

Open House
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SLIDE 29 2Q18 Quarterly Results | SET Opportunity Day | 24 Aug 2018

2Q18 Quarterly

Results

SET Opportunity Day

24 Aug 2018 Contact: IR@nirvanadaii.com Kanlayanee Panthong, DBA. AVP – Investor Relations +662 105 6789 x505