Pruksa Holding announced that its Q1 2024 performance generated revenue of 4.171 billion baht, exceeding expectations following the issuance of two sets of bonds. The real estate business is focusing on increasing the proportion of premium products and is set to launch seven new projects in the second quarter, valued at 7.1 billion baht. The healthcare business has seen growth across all dimensions, with revenue increasing by 21%, continuing its leadership in the health platform while consistently investing to increase recurring income.

Mr. Uthen Lohachitpitak, CEO of Pruksa Holding Public Company Limited, revealed that the company achieved approximately 4.171 billion baht in revenue during the first quarter, with a gross profit margin improving to 32% compared to 31.5% in Q4 2023. The company maintains a strong financial position, with a low net gearing ratio of 0.31. Recently, the company issued two sets of secured bonds to institutional and major investors, successfully completing the bond issuance on May 9. The bonds have a two-year term with a fixed interest rate of 3.18% per annum and a three-year term with a fixed interest rate of 3.48% per annum, rated A- by Tris Rating. The company thanks all investors for their trust, resulting in subscription levels exceeding the offering amount by approximately 1.5 times, allowing the company to raise 4.5 billion baht from this bond issuance. The funds will be used to repay maturing bonds and to further drive business operations.

In the real estate sector, the company recorded transfer sales of 3.475 billion baht and sales of 3.374 billion baht, with single-family homes generating 1.342 billion baht in sales, reflecting a growth of about 16% compared to the same period last year. Premium products have received a positive response, as seen with the launch of The Palm Bangna-Ring Road 2 project in the first quarter, aligning with plans to increase the proportion of premium products (priced over 7 million baht) to 50%.

In the first half of the year, the company plans to launch a total of eight new projects valued at 9 billion baht (one project has already launched in the first quarter, namely The Palm Bangna-Ring Road 2), and in the second half, 22 projects valued at 20 billion baht.

Key upcoming projects include a new brand, “Pine Wellness Residence Prachachuen,” featuring three-story single-family and twin homes in British Timeless Elegance style, and “The Palm Residences Watcharapol,” luxury pool villa-style homes with classic French Hussmann design, equipped with air filtration and energy reduction innovations (Active Air Quality, Active Air Flow) for health and quality living. A medical team from Vimud Hospital and Chersery Home International will provide health care for families at home, akin to having a family doctor, along with concierge services and the MyHaus application, a smart home system that enhances safety and convenience for residents and property management. This aims to create a unique selling point for the projects. Additionally, the company has a backlog of 4.429 billion baht and unsold inventory valued at 61.269 billion baht, supporting growth for up to two years.

In the healthcare sector, there is growth in all dimensions, with revenue of 499 million baht, a 21% increase compared to Q1 2023. March saw the highest revenue, with an increase in both inpatient and outpatient numbers (32% for Thai patients and 30% for foreign patients). Over the past year, the company has continued its plans to become a trusted healthcare platform, rebranding Theptharin Hospital to “Vimud-Theptharin Hospital,” emphasizing expertise in diabetes and endocrinology, and plans to expand services to Pruksa residents through various benefits.

Moreover, Vimud Hospital has expanded its services, including maxillofacial and facial surgery, and opened the “Vimud LASIK Center,” featuring the safe FEMTO LDV Z8 technology from Switzerland. The hospital is also constructing a rehabilitation and health care center for the elderly and families in the Watcharapol area to support health care for customers in nearby housing projects and communities, enhancing the ecosystem within the Pruksa group to align with the “Live Well, Be Happy” concept.

In terms of business operations, the company is advancing its strategy to create recurring income through the construction of the mega project “Omega Bangna Logistics Campus,” a comprehensive warehouse with modern logistics technology and integrated solutions, valued at 8.43 billion baht on over 200,000 square meters in Bang Bo, under a 51:49 joint venture with the “CapitaLand SEA Logistics Fund.” The construction period is two years, aimed at supporting the growth trend of the e-commerce business, with revenue expected to start being recognized in 2026. Ally Logistic Property (ALP) will provide the most advanced smart and comprehensive warehouse solutions in the logistics industry in Taiwan.