Pruksa has announced its Q1 2021 performance, achieving sales of 6.94 billion baht, with revenue of 6.888 billion baht and a net profit of 606 million baht. The company is studying trends and aligning with global movements, focusing on creating housing that meets the needs of Thai people today and in the future. They are collaborating with Vimut Hospital to develop livable communities and promote health and wellness among residents in and around Pruksa projects.

Mr. Piya Prayong, CEO of Pruksa Real Estate Public Company Limited, stated that the overall real estate market in Q2/2021 is expected to improve compared to the previous year, despite the impact of the third wave of COVID-19 on the country's economy, which has led many to delay their home-buying decisions, especially for homes priced below 3 million baht, which have been heavily affected. However, homes priced between 3-15 million baht are showing good growth potential during this period, while the luxury home market remains sluggish.

Regarding walk-in visits to projects during the third wave of COVID, it is acknowledged that there has been a decrease compared to normal times, with some customers turning to online research for projects, particularly for completed homes and condos that have attractive campaigns. This marketing approach has proven effective, with a 30% increase in customer searches for Pruksa homes and condos.

"The best-selling products at this time are townhouses priced at 2-3 million baht, single houses priced at 5-15 million baht, and condos priced at 2-5 million baht, catering to real demand customers."

However, reduced purchasing power and difficulties in accessing credit remain significant challenges for the real estate business. The company hopes that once the COVID situation improves, the government will facilitate foreign buyers' access to a wider range of properties, which will be a crucial factor in helping the real estate market recover. Currently, the company's revenue breakdown comes from townhouses (40%), condos (30%), and single houses (20%).

 

 

 

 

For Q1/2021 performance, the company achieved sales of 6.94 billion baht, growing 14% compared to the same period last year, with revenue of 6.888 billion baht, exceeding the target by 7%, and a net profit of 606 million baht. The sales breakdown includes townhouses (51%), single houses (29%), and condominiums (20%).

Additionally, five projects were launched in Q1, with a total value of 1.915 billion baht, consisting of four townhouse projects and one single house project. The company still plans to launch 29 new projects this year, with a total value of 26.63 billion baht.

 

 

            Furthermore, with Pruksa's new business model focusing on developing projects that resonate with target groups in each segment, new projects have received a positive response, such as Pruksa Home Lat Krabang-Chalong Krung and The Plant City Don Mueang-Phaholyothin, achieving sales rates of 83% and 93% respectively by the end of April.

            Coupled with ongoing pricing and promotional strategies, the company has managed to reduce inventory by 41% compared to the same period last year, leaving a value of 11.731 billion baht. Recently, the promotional campaign "Pruksa Value, Closing Every Deal" launched at the beginning of April has accelerated sales and transfers for ready-to-move-in homes, achieving sales of 1,058 units valued at 2.155 billion baht in about a month.

 

            Regarding operational plans for the remainder of the year, Pruksa is continuously studying global trends that are rapidly changing. As a leader in the Thai real estate business, they leverage their expertise in residential development to prepare consumers for adapting to global changes in advance.

They focus on three main global trends that impact people's lives today and in the future:

1. Health and Wellness Redefined - They will leverage expertise from Vimut Hospital to enhance health care for Pruksa residents comprehensively.

2. Lifestyle Disruption - For example, the increasing trend of working from home, the importance of utilizing home space, and the integration of technology related to data connectivity or the Internet of Things (IoT) into daily life.

3. Environmental Sustainability - Pruksa believes that owning a home is a lifelong investment, not just for living today but also for planning for tomorrow. This belief shapes the brand's evolving business direction under the concept "Pruksa Cares for Life: Tomorrow. Reimagined," which is a commitment that Pruksa will continue to innovate and develop products and services to meet the needs of customers today and in the future.