BC Reports Soaring Q1/2025 Profit, Up 589% – Gains from Summer Point Investment Sale Under BOS Model, Eyes New Luxury Hotel Project in Sukhumvit 24

Boutique Corporation Public Company Limited (BC) has announced a remarkable financial performance for the first quarter of 2025, with operating profit soaring by 589% to THB 152.9 million. The significant growth was primarily driven by the full divestment of its investment in the Summer Point project, which resulted in an immediate profit recognition of THB 213.6 million. Total revenue surged 163% year-over-year, reaching THB 347 million, supported by the continued recovery of the hotel, retail, and office rental businesses. The company’s strong execution under its Build-Operate-Sell (BOS) model remains a key strategic driver. BC is also preparing to unveil an exciting new story with the development of a luxury hotel project in the prime Sukhumvit 24 area.

Mr. Prabsharan Singh Thakral, Chief Executive Officer of Boutique Corporation PCL and a pioneer of the BOS real estate model, reported outstanding results in Q1/2025. Net profit reached THB 152.9 million, a nearly 588.5% increase compared to the same period last year. Profit attributable to owners of the parent stood at THB 42.9 million, a sharp turnaround from a loss of THB 25.1 million in Q1/2024 and a profit of THB 34 million in Q4/2024. Total revenue rose to THB 347 million, representing a 163.2% increase year-on-year.

A key contributor to this performance was the successful divestment of the company’s full investment in Summer Point, held through Boutique Phrakhanong Three Co., Ltd. (BPKN3). This transaction aligns with BC’s BOS model and also marked a milestone as part of the company’s digital token initiative. The Summer Point Token (SUMX) was successfully launched as Thailand’s first SEC-approved Initial Coin Offering (ICO) in real estate, raising THB 450 million and being listed for trading on Bitkub Exchange since April 2, 2025. The financial gain of THB 213.6 million was recognized in full in this quarter’s consolidated financial statements.

In addition, BC's performance was supported by the continued recovery of the tourism sector and effective operational management. The company’s hotel, retail, and office portfolios recorded strong occupancy rates. BC currently owns and operates 10 hotels and serviced apartments, including the recently launched Journeyhub Bangkok Sukhumvit 26, which opened in Q1/2025. The company recorded THB 90 million in revenue from its six Bangkok-based properties, up 12.8% year-on-year, and THB 85.3 million from four key provincial projects, an increase of 13%.

BC also provides hotel management services for external clients, such as Jono X Phuket Karon, under its own brand, generating management and operations-based income.

Additionally, BC delivered strong profitability with EBITDA reaching THB 229 million, a significant increase from THB 16.8 million in Q4/2024 and THB 29.6 million in Q1/2024. Key factors driving this performance included seasonal tourism trends, profit from investment sales under the BOS model, and effective cost management. The company also saw an 11% reduction in financial costs due to debt repayments completed last year.

“In 2025, BC aims to achieve its revenue growth targets by continuing to execute our BOS model while actively exploring new high-potential opportunities,” said Mr. Prabsharan Singh Thakral. “We are particularly focused on expanding our hotel business and are in advanced discussions with global hotel brands to strengthen our cash flow and portfolio value. We look forward to sharing more on this exciting direction very soon.”