NL Development Public Company Limited, or NL, announced that it has secured the construction contract for the inpatient ward building of the Siriraj Geriatric Medicine Center 2, awarded by Mahidol University's Faculty of Medicine Siriraj Hospital. The project is valued at 324 million baht including value-added tax. It is a reinforced concrete building with approximately 15,950 square meters of usable space, comprising patient ward areas and parking areas, covering structural work, architectural work, electrical and communications systems, sanitation systems, fire protection systems, air conditioning systems, medical gas systems, interior decoration, and signage. The construction period is 600 days. Managing Director Saran Rojlertjanya said the company aims to bid for and secure an additional 1.5 to 2 billion baht in new work in the second half of 2026, to push the value of its current backlog from more than 5.7 billion baht up to 7 billion baht by the end of this year. Several new projects have already had their bidding results confirmed and are in the process of contract signing. At present, hospital construction accounts for approximately 70 to 80 percent of the projects the company undertakes, and the company expects to begin seeing clear signs of a recovery in its operating results in the fourth quarter of 2026, after cost restructuring and operational reorganization during the second and third quarters are completed. It will gradually recognize revenue from new contracts, most of which have durations of approximately two to four years. In addition, NL has been classified as a building-sector contractor in the special-grade contractor group, the highest level under the Comptroller General's Department's contractor classification system.
Nl Development Public Company LimitedNL secured a 324 million baht contract to build the Siriraj Geriatric Medicine Center 2 inpatient ward, adding to its backlog.
