Pruksa Holding demonstrates strategic adaptability amidst market volatility, reflecting the success of its Reshaping Portfolio strategy in 2026. The company has shifted its portfolio towards the mid to upper market, reduced the share of non-core businesses, and enhanced project quality to align with purchasing power. This has allowed the company to maintain a gross profit margin (GPM) of 33.3% from total revenue of 14.983 billion baht, despite challenging market conditions, reaffirming its effective portfolio management and financial discipline. As it enters 2027, the company is launching a new strategy under the framework of "Asset-Optimized, Capital-Efficient, Well Living-Focused."

The goal is to transform assets into long-term revenue opportunities, manage capital with discipline, and elevate the brand through health and comprehensive service collaborations, aiming for 18.8 billion baht in revenue for 2027. The real estate business plans to launch seven new projects worth a total of 8.2 billion baht, contributing 15 billion baht to revenue, while the healthcare business under Vimut aims for 2.6 billion baht in revenue.

Ms. Patama Piyamaneephorn, Vice President of Pruksa Holding Public Company Limited, stated that 2026 was a successful year for Pruksa Holding, reflecting tangible results from the Reshaping Portfolio strategy. The company focused on restructuring its business portfolio, emphasizing core businesses, and increasing the proportion of projects in the mid to upper market while reducing investments in non-core businesses. This resulted in a gross profit margin of 33.3%, up from the previous year, from total revenue of 14.983 billion baht, despite facing challenging market conditions.

At the same time, the company maintained a strong financial structure with a net gearing ratio of only 0.28 times and a backlog of over 3 billion baht. With a strategy focused on core businesses and reducing investments in unrelated sectors, the company achieved a net profit from normal operations of 247 million baht amidst a challenging market environment characterized by slowing purchasing power and price competition, particularly in the mid to lower housing segment, which was directly impacted by strict lending criteria from financial institutions.

“In 2027, we aim for total revenue of 18.8 billion baht, with 15 billion baht from real estate and 2.6 billion baht from healthcare. We will invest 4.4 billion baht to support business expansion. This year, we will continue our strategy under Reshaping Portfolio, focusing on three main pillars: Asset-Optimized, Capital-Efficient, and Well Living-Focused. We aim to enhance asset utilization efficiency and focus our investment portfolio for financial agility while leveraging brand advantages by systematically integrating housing and healthcare businesses. A key strength of Pruksa is being the only property developer with an affiliated hospital business, allowing us to differentiate by linking 'home' with 'healthcare' comprehensively to drive quality and sustainable growth in the long term, under a clear and stable business direction,” Ms. Patama stated.

In the first dimension, “Asset-Optimized, Recurring-Built,” the company is advancing a proactive strategy to increase the share of recurring income by managing a land portfolio valued at over 12.8 billion baht, transforming assets into income through residential project development and generating revenue from new leasing models, such as healthcare, apartments, hybrid residences, and warehouses. Additionally, the company has set a roadmap to accelerate development and transfer of ownership, aiming to close 22 projects to enhance cost management efficiency and systematically reduce inventory burdens. Progress in the warehouse business, “Omega Bangna Logistics Campus,” which is a smart warehouse covering over 217,000 square meters and is one of the largest warehouses in Southeast Asia, is being developed in collaboration with global partners to support logistics and distribution capabilities in line with new economic trends. The company expects to recognize revenue in the third quarter, with confidence from major partners in logistics and e-commerce, anticipating over 60% occupancy bookings. Simultaneously, the company is developing projects on existing land and increasing the proportion of homes in the mid to upper segment to create cash flow for future business expansion effectively.

In the “Capital-Efficient, Growth-Enabled” dimension, the company prioritizes liquidity and cash flow. The Pruksa Group is accelerating debt repayment by reducing the net debt-to-equity ratio to below 0.3 times by the end of 2027, alongside expanding credit lines and securing project funding at lower costs to enhance liquidity and reduce financial costs to below 3.5%. The company is also reducing stock, accelerating revenue recognition from ready-to-move-in homes and condominiums by 3-6 months, and increasing revenue from other channels to generate operating cash flow and strengthen its financial position for future growth.

In the final dimension, “Well Living-Focused, Brand-Strengthened,” the company is advancing new projects in the Mid-to-Upper Segment while integrating health concepts into housing tangibly through the launch of the Family Doctor service, which is the first of its kind in Thailand, where a property developer integrates the “family doctor” model as part of the living experience.

The Family Doctor reflects a significant transition for Pruksa from being a “housing developer” to a “well-being creator,” focusing on promoting health. The doctor will provide holistic and continuous health care for residents, understanding each family's health history deeply, offering personalized wellness consultations closely in mid to upper segment projects, alongside Well Care @Home services that provide consultations and basic health checks at home within the projects. Telemedicine connects health care seamlessly with housing, along with health-related privileges, providing peace of mind and enhancing the quality of life for Pruksa residents across all segments. This service is a result of collaboration between Pruksa Real Estate and Vimut Hospital, reinforcing its position as the first and only property developer with an affiliated hospital business, linking “home” with “healthcare” comprehensively under the concept of “Lifetime Well-Living” to elevate living standards and create long-term value.

The strategic direction for 2027 reflects a significant transition from focusing on “growth through portfolio expansion” to “quality growth” through effective cost and asset management. The emphasis is on creating recurring income while managing financial costs tightly, alongside differentiating through health services to stabilize long-term revenue and enhance profitability capabilities sustainably.

Mr. Theera Thongwilai, CEO of Pruksa Real Estate Public Company Limited, added that in 2026, Pruksa Real Estate launched 14 new projects valued at 13.3 billion baht, with pre-sales of 11.05 billion baht and transfers of 11.5 billion baht, with ready-to-sell products valued at over 66.4 billion baht. Additionally, 2026 was a year of restructuring Pruksa Real Estate's portfolio, with about 45% of new projects in the premium segment (over 7 million baht) and 42% in the mid-range segment (3-5 million baht), while 13% were in the low segment (below 3 million baht) to increase projects that meet market demand and continuously clear slow-selling projects.

“Although the overall housing market still faces pressure from purchasing power and price competition, especially in the mid to lower single-family home segment, we can still manage costs through zoning strategies, closing old projects, adjusting designs, and production costs to align with prices and demands in each zone, as well as accelerating condominium transfers at the end of the year, resulting in improved profit margins,” Mr. Theera stated.

For 2027, Pruksa Real Estate has strategies to accelerate the clearance of ready-to-move-in stock, continuously control costs, strengthen cash flow management, and boost sales through online channels and existing customer bases that trust the brand. The company plans to increase agent channels by 10%, focusing on foreign groups from China, Myanmar, and Taiwan, enhancing competition through pricing strategies, promotional campaigns, and financial support campaigns for customers, including the Pruksa Pass program that allows customers to sign contracts "directly with the project" for up to one year and move in immediately, along with plans for other programs to assist customers who want housing but face credit issues.

Regarding the plan to launch seven new projects in 2027, they will be Brand Champions that showcase Pruksa's expertise, strategically located with a total value of 8.2 billion baht, aiming for pre-sales of 16.5 billion baht and revenue of 15 billion baht (excluding revenue from joint venture projects). Highlighted projects include The Reserve Villa Sukhumvit 89/1, a luxury project priced from 50 million baht, The Palm Courtyard Bangna Km.8, featuring a new house design that harmoniously connects indoor spaces with nature, and The Palm Vibhavadi 64, offering three-story single-family and twin houses in Modern Tropical style for just 19 families, sized from 42.1 to 66.2 square wah. Additionally, there are plans to launch the first pet parent condominium of Pruksa at Chapter One Ratchada 19.

Dr. Niphat Kulapkhaw, CEO of Vimut Hospital Holding Company, added that the hospital business under Vimut has continued to grow in 2026, with total revenue of 2.243 billion baht, a 3% increase from the previous year, and an EBITDA of 232 million baht, doubling. Vimut Hospital Phaholyothin has started generating quarterly profits of over 12 million baht, and in December 2026, it achieved the highest gross profit margin since its establishment, resulting from expanding services in key areas such as lung health, cardiovascular health, and orthopedics, as well as growth in insurance clients, corporate clients, and international patients, including Myanmar (growing tenfold), Arab clients (doubling), China, and Africa in December. Vimut Hospital-Theptarin, in addition to being a leader in diabetes, thyroid, and endocrine patient care, has also increased revenue by promoting health check-up centers and enhancing preventive health care with surrounding large companies and Pruksa residents to facilitate access to healthcare.

In 2027, the Vimut Group aims for revenue of 2.6 billion baht, a 16% growth, with three main strategic areas: 1) Product-wise, following the success of expanding services in key areas last year, Vimut Hospital Phaholyothin plans to expand services for gastrointestinal and liver care and neurology, and has launched comprehensive women's health and beauty care campaigns. Vimut Hospital-Theptarin focuses on lifestyle centers promoting preventive health care, accident centers, and gastrointestinal and liver centers.

2) Marketing-wise, plans to expand the customer base through insurance channels, corporate clients, and foreigners residing in Thailand, and patient referrals to the hospital.

3) Operationally, aiming to elevate operations to international standards (Operational Excellence) by improving patient experiences for convenience and speed through Telemedicine, digital systems, and redesigning processes to reduce redundant steps, while also building global credibility through expanding direct communication channels to patients (D2P), enhancing cooperation networks among doctors (D2D), and increasing the volume of complex cases, alongside strengthening community relationships to elevate brand image and trust in the long term.

“2026 marks a significant milestone in balancing and strengthening the business structure to prepare for 2027, which will be a year of unlocking asset potential and creating continuous revenue systematically under a stable financial structure and strong liquidity. With a clear brand-building strategy alongside expanding revenue bases from real estate and healthcare, we remain committed to the vision of elevating Lifetime Well-Living to a Holistic Health Experience that encompasses all dimensions of life to drive sustainable long-term growth for the organization,” Ms. Patama concluded.