Pruksa Holding has reported its financial results for the first nine months of 2023, with total revenue of 15.607 billion baht and a net profit of 753 million baht. The company continues to effectively control expenses through debt management and reduced interest rates, resulting in lower financial costs. The net gearing ratio stands at 0.36 times, remaining low compared to the industry, reflecting stable financial management amid economic fluctuations. The healthcare business has grown by 21%, and the company has announced plans to fully enter the wellness residence market.

Mr. Uthen Lohachitpitak, CEO of Pruksa Holding Public Company Limited (PSH), discussed the company's operations, stating that in the past nine months, total revenue was 15.607 billion baht, a decrease of 22% compared to the same period last year due to economic conditions and stricter loan approvals, particularly among vulnerable customer groups. However, the company managed to maintain a gross profit of 5.118 billion baht, representing a gross profit margin of 32.8%, by employing pricing strategies that attract consumer interest during a sluggish real estate market. Meanwhile, Pruksa's healthcare business continues to generate strong profits, contributing positively to the company's overall revenue.

For the nine-month period, net profit was 753 million baht, attributed to a decline in revenue from core businesses. Nevertheless, the company effectively controlled expenses, leading to reduced financial costs through debt management and lower interest rates. The net gearing ratio remains at 0.36 times, reflecting stable financial management compared to the industry.

In the real estate sector, the company recorded property transfers totaling 12.93 billion baht, a decrease of 24% from the same period last year. This includes new condominium transfers from the Chapter One All Ram Inthra project, which received positive feedback from the launch of new single-house projects such as The Palm Bangna-Wongwaen 2 and the super-luxury project The Palm Residences Watcharapol. Additionally, the company generated 2.413 billion baht in revenue from land sales for future project development in collaboration with partners.

During the past nine months, the company launched a total of 8 new projects valued at 10.085 billion baht, particularly the Chapter One More Kaset project near the university and close to the BTS Green Line, which opened in the third quarter and attracted interest from both real demand customers and investors, with over 42% already booked. The company anticipates launching a total of 18 new projects worth 20 billion baht by the end of the year, with highlights including The Palm Residences Pattanakarn, a full wellness residence project in the super ultra-luxury segment, which is the first of its kind for Pruksa, designed to integrate health care seamlessly in all dimensions, with pre-sales expected to begin at the end of the month.

This November marks a significant push by Pruksa into the health-focused real estate market, with wellness residence projects totaling 10 billion baht, accounting for 50% of the total value of new projects launched this year. Next year, the company plans to develop projects specifically targeting retirees.

Additionally, the company has a backlog of sales awaiting transfer totaling 5 billion baht, with ready-to-move-in projects valued at over 8.369 billion baht, of which over 82% are valued at less than 7 million baht. These projects will benefit from the measure reducing transfer fees to 0.01%, allowing for accelerated revenue recognition by the end of this year. The company has also launched a promotional campaign called "Last Chance" to help consumers make purchasing decisions easier by adjusting prices on stock homes, providing a final opportunity for homebuyers at original costs, along with offering 0% interest for 12 months in collaboration with partner banks to boost bookings in the fourth quarter.

Pruksa's healthcare business has shown strong growth, with total revenue for the first nine months reaching 1.6 billion baht, a 21% increase from the same period last year. Revenue from outpatient services increased by 25%, and inpatient revenue rose by 22%, with earnings before interest, taxes, depreciation, and amortization (EBITDA) of 197 million baht, reflecting the group's efforts to expand healthcare services to reach patients and customers purchasing Pruksa's real estate projects. In October, the company also expanded its surgical and urology services and continues to collaborate with partners to develop new technologies that will enhance treatment and improve the quality of life for Thais.

“Pruksa Holding is committed to fully meeting customer needs and building confidence amid economic volatility through flexible management and timely strategic adjustments to market changes. We are ready to develop and expand our healthcare business, which is another key pillar for Pruksa's growth, to enhance the healthcare of Thais and create long-term value for our shareholders,” Mr. Uthen concluded.