Pruksa Holding has announced its Q3 2022 financial results, showing an 87% growth with a net profit of 619 million baht and revenue of 6.83 billion baht. This growth is attributed to the expansion of both core businesses: real estate and healthcare. The company maintains a strong financial position and is moving forward with investments in new ventures in health tech and social commerce.

Mr. Uthen Lohachitpitak, CEO of Pruksa Holding Public Company Limited, stated that the overall real estate business still shows potential for growth under the current economic conditions. In Q3/2022, Pruksa Holding generated revenue of 6.83 billion baht, a 27% increase from the previous quarter and a 12% increase compared to the same period last year, with a net profit of 619 million baht, up 44% from the previous quarter and 87% year-on-year. The company has a strong financial status, with a gross profit margin of 30.9% and a low net gearing ratio of 0.34, improving from 0.39 in the second quarter, driven by growth in both core businesses: real estate and healthcare.

In Q3, the real estate business generated revenue of 6.43 billion baht, a 26% increase from the previous quarter and an 8% increase year-on-year. Revenue from the transfer of three condominium projects in Q3 and the demand for premium horizontal projects resulted in sales of 2.86 billion baht, with a backlog of approximately 13.3 billion baht ready to be converted into future revenue.

In Q4, the company plans to deliver four condominium projects valued at around 6.3 billion baht and has plans to launch new projects totaling 7.8 billion baht, including seven townhouse projects worth 3.6 billion baht, three single-family home projects worth 2.7 billion baht, and one condominium project worth 1.5 billion baht.

Meanwhile, the healthcare business in Q3 reported revenue of 330 million baht, a 63% increase from the previous quarter and a 276% increase year-on-year, achieving a new high from medical services related to non-COVID diseases. The expansion of services to new patient groups and the establishment of a department specifically for international patients has increased the proportion of foreign patients to 23%. Looking ahead, Vimut Hospital plans to increase its bed capacity from 100 to 125 beds by the end of 2022 to meet growing demand.

In terms of investment in new businesses to further its innovation mission, the company has partnered with Pathology Asia Holdings, one of the largest medical diagnostic service providers in Southeast Asia, to bring knowledge in medical diagnostics and modern lab management systems to expand operations in Thailand, supporting and enhancing healthcare services in the healthcare business group.

Pruksa Holding also sees growth potential in the social commerce sector, thus investing in the startup PUNDAI, an Affiliate Marketing Network tool that facilitates online sales with an easy-to-use, all-in-one function. This tool aims to support sales through all online channels for entrepreneurs and individuals, helping them thrive in the e-commerce world and serving as a crucial cog in creating jobs, generating income, and driving the digital economy.