Property / Pruksa

Editorial team

Pruksa showed a big jump profit in Q3

Pruksa Holding’s the third quarter earnings in 2022 grew 87%, with net profit 619 million baht and revenue 6.83 billion baht from the growth of two main businesses in real estate and healthcare.

Mr. Uten Lohachitpitaks, group chief executive officer of Pruksa Holding Public Company Limited, revealed the operating results of the third quarter of 2022 that the company generated revenues of 6.83 billion baht, a 27% growth from the previous quarter, and a 12% growth when compared to the same period last year.

It posted a net profit of 619 million baht, an increase of 44% from the previous quarter and a growth of 87% when compared to the same period last year.

The company maintained its strong financial status with higher gross profit margin to 30.9% and a low net gearing ratio of 0.34 times, an improvement of 0.39 times from the 2nd quarter, due to the growth in two main businesses of real estate and healthcare.

For the real estate business in the Q3, it generated revenue of 6.43 billion baht, a 26% increase from the previous quarter, or an 8% growth from the same period last year.
This was due to a higher demand for low-rise projects in the premium segment and revenue gaining from the transfer of 3 condominium projects in the the third quarter; while, generating sales of 2.85 billion baht, with sales backlog to be converted to revenue in the future at approximately 13.30 billion baht.

In the fourth quarter, the company is preparing to deliver 4 condominium projects, namely Chapter Chula-Samyan, Privacy Chatuchak, Plum Condo Rama 2, and Plum Condo Sukhumvit 62, worth around 6,300 million baht.
Meanwhile, it plans to launch new projects in the fourth quarter, totaling 7.8 billion baht, including 7 townhouse projects worth 3.6 billion baht, 3 single-detached houses worth 2.7 billion baht, and 1 condominium project worth 1.5 billion baht.

For the environmental protection which Pruksa continuously reduces environmental impact, the Pruksa Precast factory has adopted a new technology so called “CarbonCure” to be used in the concrete industry by injecting carbon dioxide into the concrete mix to reduce the carbon footprint of production.

The healthcare business in Q3 was reported revenue of 330 million baht, a 63% growth from the previous quarter, or a 276% increase from the same period last year. It has hit the highest revenue from medical services in non-COVID-related diseases since the start of operations last year.

The company has expanded its services to new patient groups with setting up an International Affair department resulting in an increase of foreign patients by 23%.

For the future business direction, ViMUTHospital plans to add more hospital beds from 100 to 125 beds by the end of 2022 to serve the growing demand.

Towards the investment in new businesses to continue its innovation commitment, the company has made a joint investment with Pathology Asia Holdings, one of the largest providers of medical diagnostics services in Southeast Asia.