Pruksa Holding announces its Q2 2023 performance with a net profit of 1,038 million baht, growing 141%, and total revenue of 7,107 million baht, up 32% compared to Q2 2022. This results in a net profit of 1,690 million baht and total revenue of 13,665 million baht for the first half of the year, representing growth of 72% and 20% respectively compared to the first half of 2022.


Mr. Uthen Lohachitpitak, CEO of Pruksa Holding Public Company Limited stated that the real estate market in the second half of the year should closely monitor household debt levels, which are high and affect consumer purchasing power. The business sector hopes that the new government will expedite policies that support income generation and reduce expenses for the benefit of the public. Regarding measures to stimulate the real estate sector, it may not be necessary at this time; instead, the focus should be on enhancing consumer purchasing power and improving business efficiency. Pruksa, with over 30 years in the real estate industry, continues to develop products that cater to all customer segments, emphasizing the launch of horizontal projects where Pruksa has expertise. The adjustment of costs, combined with reduced purchasing power, is a cyclical aspect of the business that is always fluctuating, thus the business sector must adapt accordingly.

For Q2 2023 results of Pruksa Holding or PSH, total revenue reached 7,107 million baht, growing 32% due to sales growth in both the real estate and healthcare sectors. Net profit was 1,038 million baht, up 141% compared to the same period last year, and for the first half of the year, net profit was 1,690 million baht with total revenue of 13,665 million baht. Approximately 700 million baht came from the successful stock swap with Inno Precast Co., Ltd., a subsidiary of PSH, to invest in shares of General Engineering Public Company Limited (GEL), which presents a business opportunity for strong revenue and growth for both companies. Excluding special items from the stock swap, the core business still shows over 10% profit growth in the first half of 2023 compared to 2022.

This reflects that the group is currently successful and well-received in the market, both in property transfers and healthcare, which are experiencing higher growth. The backlog for low-carbon precast panels from Inno Precast has exceeded 2,200 million baht, more than double the initial target of 1,000 million baht set at the beginning of the year, marking another step towards becoming the leading producer of low-carbon precast in Thailand.

In the real estate business
- Sales reached 4,650 million baht, growing 4% from the previous quarter.
- Transfers amounted to 5,650 million baht, up 11% from Q2 2022, driven by sales from horizontal products and the transfer of 6 condominium projects from earlier this year. In the first half of the year, sales totaled 9,116 million baht, accounting for 38%, and transfers reached 11,680 million baht, representing 42% of the overall target.

For transfers in the first half of the year, which have not yet reached half of the target, it is viewed that Q2 is a low season for the real estate business, leading to some loss in transfers. However, it is believed that recovery will improve in the second half of the year. Pruksa still has a backlog of approximately 4,975 million baht, which is expected to be recognized as revenue in the second half, along with completed homes ready for occupancy valued at over 10,593 million baht, with an expected sales achievement of around 80%. Pruksa continues to closely monitor its customer base, currently experiencing a loan rejection rate of about 5-6%.


Additionally, six new projects valued at 4,848 million baht have been launched.
- The Chapter One All Ram Inthra project has achieved over 50% sales, receiving positive feedback from both Thai and foreign buyers.
- The Plum Condo New West project in Bang Yai achieved bookings of up to 580 million baht during the recent pre-sale, starting at just 1.59 million baht.


Pruksa has approved an interim dividend for the year 2023 of 0.31 baht per share, representing a competitive return in the market. The list of shareholders will be determined on August 28, 2023, with dividends to be paid on September 8, 2023.

For the second half of the year, there are plans to launch a total of 17 projects valued at 19,000 million baht. The launch of new projects throughout the year is in line with the plan, with an upgrade of premium products to 30% in the first half of the year.

In the healthcare business
- Q2 2023 revenue totaled 440 million baht, growing 117% compared to Q2 2022.
- Total revenue for the first half of the year was 852 million baht.
The Vimutt Hospital achieved a 77% growth in non-COVID revenue, with new patient admissions increasing by over 26%, and has expanded collaboration with Naluri, a digital health service provider, offering holistic health consultations through an application.

Pruksa Holding has also been selected as a registered company in the ESG 100 securities group for 2023 by the Thailand Development Institute, reflecting its commitment to outstanding operations in environmental, social, and governance (ESG) aspects, and has been recognized for excellence in sustainability reporting according to Global Reporting Initiative standards, focusing on human rights and developing both housing and healthcare projects at accessible prices for all groups.