Pruksa Holding achieved net profit of 2.08 bn in the first nine month

Editorial Staff

Pruksa Holding achieved net profit of 2.08 bn in the first nine month

"Pruksa Holding" (or PSH) announces its performance results for the first nine months of 2023, achieving a net profit of 2.08 billion baht, marking a 30% growth while total revenue of 19.90 billion baht, showing a 9% increase.

Mr. Uten Lohachitpitaks, Group CEO of Pruksa Holding Plc, revealed the company’s performance for the first nine months of 2023, indicating a total revenue of 19.90 billion baht, a 9% growth.

This growth resulted from improved sales in both single detached houses and condominiums, as well as a significant increase in revenue from the healthcare business not associated with COVID-19, combining with other incomes from restructuring of the real estate and healthcare businesses into profit-generating units contributed to a net profit of 2.08 billion baht, marking a 30% growth compared to the same period in 2022.

In the recent third quarter, Pruksa Holding reported a profit of 80 million baht from the transfer of Labplus One, a subsidiary of Theptarin Hospital, to Innoquest Diagnostics One, a joint venture between PAH (Thailand) Pte. Ltd. and ViMUT Hospital Holding.

Additionally, the company recently partnered with global real estate investment manager, CapitaLand Investment Limited to establish the C-WELL fund. The fund focuses on investing in wellness-oriented properties to fulfil “Live well Stay well” lifestyle. There are plans to expand to the Southeast Asian market with an estimated value of 25 billion baht.

This will increase the proportion of recurring income including revenue from services offered by ViMUT Hospital and support the real estate business by adding existing properties to the fund for wellness-centric real estate development as well as set new standards for the residential housing sector in this region.

In the real estate business, Pruksa Holding has achieved sales of 14.24 billion baht in the first nine months, with transfers amounting to 16.98 billion baht. The total value of projects currently open for sale is 62.16 billion baht, with 10.89 billion baht available for immediate transfer and a backlog of 5.03 billion baht.

In the fourth quarter, there are plans to launch seven new projects to enhance the business within the group and create residences that promote a “Live well Stay well" lifestyle. This involves integrating expertise from both the real estate business and ViMUT Hospital, as well as partnering with Synergy Growth.