Pruksa Holding, or PSH, reaffirms its position as a leader in the Thai real estate market with strong management capabilities and top-tier operational efficiency, reflected in a gross margin of 35.5%, an all-time high, despite the current market slowdown. The company continues to implement its 'Lifetime Well-Living' strategy, connecting housing, healthcare, and community services. It aims to expand health services to over 70 projects, covering more than 27,700 families through the Well Care @Home program and is set to launch family doctor services for the first time in Thailand in Q4 to enhance residents' quality of life comprehensively. Additionally, it is moving forward with its recurring revenue strategy, preparing to introduce 'iPlern', the first Eco Branded Apartment in Thailand.

Ms. Patama Piyamaneephorn, Deputy CEO of Pruksa Holding Public Company Limited, revealed the company's performance for the first nine months of 2023, stating that Pruksa Holding continues to solidify its leadership in the Thai real estate sector with a net gearing ratio of only 0.32 times, reflecting efficient cost management under a strong financial structure. This has allowed the company to maintain growth momentum amid a volatile market, achieving a gross margin at an all-time high of 35.5% (up from 32.8% the previous year) and total revenue of 10.177 billion baht.

The company continues to operate under the concept of 'Lifetime Well-Living', combining expertise from two businesses: real estate and healthcare, linking homes, health care, and communities. Plans are in place to launch family doctor services for the first time in Thailand in Q4, provided by family medicine doctors who will offer holistic health care for individuals and families at all life stages. Family doctors will not only treat common illnesses but also provide preventive care, lifestyle advice, and chronic disease management. Furthermore, Pruksa continues to advance the Well Care @Home project in collaboration with Vimut Hospital and Vimut-Thephatharin Hospital, which are part of its network, providing health checks and advice to over 70 projects and more than 27,700 families, aiming to bridge the gap in health service access for urban families, reflecting Pruksa's commitment to enhancing overall quality of life through good housing and health care.

In the healthcare sector, we continue to pursue the Specialty-Led Utilization Growth strategy, aiming to enhance specialized centers to improve service efficiency and drive long-term growth. The goal is to boost the potential of hospitals within the network by developing seven Centers of Excellence (COE) by 2025-2026. Recently, the Lung Health Center at Vimut Hospital received the global award for 'Excellence Specialist Clinical Center for Lung Center Thailand 2025' from the World Business Outlook Awards, reflecting its outstanding standards of safety and modern medical technology. In September, specialized health centers continued to drive profits, and the Vimut group is expanding growth into domestic and international markets, targeting corporate clients, insurance, and foreign customers.

Regarding the investment progress of the 'Omega Bangna Logistics Campus', covering 217,000 square meters, which is the largest smart warehouse in Southeast Asia, in collaboration with two companies: CapitaLand Investment Group (CLI), a leading global real estate investment management company from Singapore, and Ally Logistic Property (ALP), a provider of comprehensive warehouse solutions in Taiwan's logistics industry. This collaboration is part of the regional partnership through the 'CapitaLand SEA Logistics Fund'. Currently, structural construction is over 50% complete, and revenue recognition is expected to begin in Q2 2024. The company continues to invest under the C-WELL (CapitaLand Wellness Fund) to develop health-related real estate both domestically and internationally, including the Vimut Thonglor Orthopedic Specialty Hospital, The Palm Residences Pattanakarn project, which has started transferring units, The Reserve Villa Sukhumvit 89/1 (set to launch in December), and the LYF Bugis hotel in Singapore (with a continuous occupancy rate of 90%).

At the same time, the company continues to expand its recurring revenue business and proactively prepares to launch 'iPlern', the first Eco Branded Apartment in Thailand, emphasizing affordability while maintaining brand quality standards and complete amenities, making quality housing more accessible to tenants, aligning with the demand of the new consumer generation seeking flexibility, convenience, and comprehensive services.

Additionally, Pruksa Holding has recently received a 5-star rating for corporate governance assessment, or 'Excellent CG Scoring', for the ninth consecutive year from the Thai Institute of Directors (IOD), supported by the Stock Exchange of Thailand and the Securities and Exchange Commission (SEC), reaffirming its commitment to upholding principles of governance, transparency, accountability, and responsible management towards all stakeholders.

Mr. Theera Thongwilai, CEO of Pruksa Real Estate Public Company Limited, discussed the real estate business, stating that the performance for the first nine months achieved sales of 9.256 billion baht, with transfers of 7.561 billion baht. The company launched 11 new projects valued at 10.8 billion baht, with additional ready-to-sell housing units totaling 66.2 billion baht. In Q4, there are plans to launch six new projects worth over 6.7 billion baht, covering both horizontal and condominium developments, including The Palm Courtyard Bangna Km. 8 luxury courtyard villas, The Palm Vibhavadi 64, a three-story luxury home in a private community with only 19 units, integrating services from Vimut Hospital under the 'Wellness Living' concept, and The Reserve Villa Sukhumvit 89/1, co-invested with the C-Well fund, designed by the A49 architectural team, which is one of the flagship projects of the group. For the mid-market housing segment, the Passorn Srinakarin - Theparak project will launch premium single houses with a clubhouse and 'Sensory Park' for families and pets, while in the condominium segment, the Plum Condo East Ladprao project will launch near MRT Ladprao 83, starting at 1.88 million baht, catering to the new urban generation. The company remains focused on becoming an organization that enhances quality of life under the 'Lifetime Well-Living' concept, linking three pillars: Well Home – Well Care – Well Community to elevate the living standards of Thai people in the long term, reinforcing the image of living well throughout life.

In the final stretch of this year, the company has also launched a continuous promotional campaign called 'Pruksa Maha Deal', offering special deals with booking fees starting at just 499 baht, providing gold for every unit worth over 5 million baht, discounts on houses and condos totaling over 200 million baht, with special units offering discounts of up to 4.9 million baht and up to 15 free items, such as free transfer fees, mortgage fees, water and electricity meter insurance, public service fees, electrical appliances, and landscaping, among others (details vary by project, please inquire for more information). Additionally, the first 100 customers who book and transfer from October 30 to November 28, 2023, will receive a free iPhone 17 with 256 GB worth 29,900 baht, with expected revenue generation of over 3 billion baht.

The company has also begun delivering four new condominium projects worth over 9.7 billion baht, starting to recognize revenue from Q3 and continuing into Q4 until early 2024, including Plum Condo New West, which has seen over 35% of transfers accelerated in the first two months, The Privacy Park Tao Poon, Chapter One Spark Charan, and Chapter One More Kaset, all of which guarantee tenants and provide free tenant placement services in the first year. All four projects are located in high-potential areas around Bangkok with supporting public transport systems and have received positive responses from the new generation and investors looking to rent.

Dr. Niphat Kulaobkhaw, CEO of Vimut Hospital Holding Company, stated that the performance for Q3 2023 remains strong, with total revenue increasing by 8% from the previous quarter (QoQ) and EBITDA rising to 64 million baht from 41 million baht in Q2 2023, reflecting effective management and growth in patient bases both domestically and internationally, with significant increases in outpatient (OPD) and inpatient (IPD) numbers from both Vimut Phaholyothin Hospital and Vimut-Thephatharin Hospital, particularly the increase in inpatients due to the opening of specialized centers, including the Heart and Vascular Center and the Lung Health Center at Vimut Hospital.

Furthermore, the Vimut group continues to expand its business, developing two new hospitals: Vimut Thonglor Hospital, a 24-bed orthopedic specialty hospital set to open in Q3 2027, and Vimut Sukhumvit Hospital, a 113-bed hospital (Phase 1) currently in design, focusing on women's health, reproductive medicine (IVF), and targeting foreign patients, expected to open in Q3 2028.

To enhance service quality, Vimut Hospital has developed a special patient zone (VVIP Wards) and large Grand Royal Suites to accommodate both Thai and foreign patients, while upgrading service standards for corporate clients and health insurance. The hospital organizes medical seminars and participates in international health exhibitions to expand its medical partnership network and increase brand awareness abroad, resulting in a continuous increase in foreign patients, especially from Myanmar and China, strengthening through medical collaborations and health insurance partnerships, building confidence among medical personnel and representatives in target countries. Additionally, in the final quarter of 2023, Vimut aims to expand its specialized patient base, particularly in the Orthopedic Center, through collaborations with medical institutions, medical schools, and insurance companies, along with marketing plans to promote four new specialized centers set to open in 2024.

“2023 has been a year of strong adaptation, enhancing our prominence in various aspects. Our financial status is robust, and we are adjusting our portfolio strategy while maintaining high margins amid fierce price competition, balancing between real estate and healthcare to drive sustainable long-term growth under the 'Lifetime Well-Living' concept, ensuring a solid business foundation, strong financial structure, and capable team to truly become a leading organization in comprehensive housing and health care in Thailand,” Ms. Patama concluded.