Company History

Company History

Founded on April 20, 1993

Pruksa Real Estate Plc. was founded by Mr.Thongma Vijitpongpun on April 20, 1993 with the initial registered capital of Baht 50 million. It concentrates on developing projects for townhouses, single-detached houses and condominiums. Mr. Thongma Vijitpongpun, the founder, had brought his experience and expertise in construction from government and private projects into the business of the Company. Such factor together with professional management team,outsourcing consultants for continuous development of entire corporate operation process, appropriate business strategy resulted in The Company’s positive bottom lines every year in a row of operation even during flooding and economic downturn.

The Company focuses on residential houses located in various potential and high growth areas of Bangkok and its vicinities, including downtown Bangkok projects in Thailand and overseas are as follows:

Business Operation

Townhouse / Duplex

  • Baan Pruksa
  • Pruksa Ville
  • Pruksa Town
  • W/2
  • The Reno
  • The Connect
  • Urbano Townhouse
  • Pruksa Town Next
  • Pruksa Lite
  • Privet
  • Privet Fidelio
  • Villette Lite
  • Villette Townhome
  • The Plant Citi
  • Villette Citi
  • Patio
  • Silvana (India)

Single Detached House

  • Natura
  • The Season
  • Pruksa Village
  • Pruksa Town Serenity
  • Baan Pruksa Nara
  • Scenery
  • Pruksa Puri
  • Passorn
  • The Gallery
  • Delight
  • The Plant
  • The Palm
  • Silvana (India)

Condominium

  • Citi Ville
  • Be You
  • Plum Condo
  • The Privacy
  • Condolette
  • Urbano Absolute
  • The Tree
  • Chapter One
  • The Seed/Stylish Residence
  • Fuse
  • IVY
  • The Editor
  • The Reserve
  • Coral Ville (Maldives)


Unlike most other real estate developers who generally hire contactors to handle construction work for the entire project, the Company is a real estate developer that adopts modern construction technologies from foreign countries to construct housing units and manages the construction of projects itself. In operating a project, the Company will set up project specifications and detailed design.

“WITH RESPECT TO CONSTRUCTION, THE COMPANY
MANAGES ITS OWN CONSTRUCTION BY DIVIDING WORK
INTO PARTS AND HIRING CONTRACTORS TO PERFORM
SPECIFIC TASKS”

With respect to construction, the Company manages its own construction by dividing work into parts and hiring contractors to perform specific tasks such as constructing foundation, concrete work, building installation, tiling and roofing, whereas raw materials are bought in bulk by the Procurement department. Engineers and foremen will oversee the construction work to ensure it is in compliance with the standards and specifications. With in-house construction management and adoption of such technologies, it can effectively control the quality, manage construction time and cost. As such, the Company becomes a low cost leader among real estate developers.

On April 27, 2005, the Company converted itself into a public company.

As approved from its Extraordinary General Meeting of Shareholders on April 22, 2005, the Company then increased its registered capital by issuing 532.5 million new shares with par value of Baht 1. On April 27, 2005, the Company converted itself into a public company. Later on December 6, 2005, it started trading on the Stock Exchange of Thailand (SET) under the ticker “PS”.

As at 31 December 2008, the Company has a registered capital of Baht 2,255,753,400 (being 2,255,753,400 common shares at Baht 1 par). The paid up capital was 2,191,394,200 Baht and shares.

As at 30 December 2011, Company’s registered capital totaled 2,250,812,000 Baht (2,250,812,000 Baht common stocks at 1 Baht par) with the paid up capital of 2,209,407,200 million Baht.

30 December 2011

As at 30 December 2011, Company’s registered capital totaled 2,250,812,000 Baht (2,250,812,000 Baht common stocks at 1 Baht par) with the paid up capital of 2,209,407,200 million Baht.

2004

The Company’s paid up capital increased from Baht 1,388 million to Baht 1,700 million.

Precast

The Company started building its Precast Concrete Factory with a semi-automated pallet circulating system in production, the most modern technology in Thailand. The project cost was approximately Baht 650 million (excluding the cost of land)

SAP

The Company has enhanced its operating work system by employing Enterprise Resource Planning or ERP framework. SAP computer software was installed to support such Company’s system and to upgrade its information technology system. The investment cost was Baht 30 million.

2005

  • The Precast Concrete Factory was completed and has started producing housing parts.
  • The Precast Fence and Pillar Factory, with approximately Baht 150 million project cost (excluding the value of the land at location), was completed and has commenced production.
  • The Company set up Kaysorn Construction Company Limited to be a contractor for housing decoration.
  • The Company set up the Business Processes Improvement and Workforce Management Systems, a solution offered by IBM (Thailand) Co., Ltd. The value of the project is Baht 12.7 million. The systems are designed to improve the business processes (including construction, sales, marketing and services) of the Company and personnel management. The purpose of this improvement is to support the business expansion, to increase the competitive edge in the future and to reduce the operating cost.
  • The Company converted itself into a public company and increased its registered capital from Baht 1,700 million to Baht 2,232.5 million and reduced the par value from Baht 100 to Baht 1.
  • The Stock Exchange of Thailand has granted a listing of common shares of Pruksa Real Estate Public Company Limited under the ticker “PS” of which trading began on December 6, 2005.

2006

  • The Company increased its paid-up capital from Baht 2,125.0 million to Baht 2,159.7 million on January 9,2006.
  • The Company increased its paid-up capital to Baht 2,166.7 million on July 5, 2006, to accommodate the first exercises of warrants from ESOP scheme.
  • The Company has adopted Business Process Improvement (BPI), Business Intelligence (BI) and Balance Score card Software to enhance the Company’s operations and management Precast Concrete Factory was modified for more efficiency in production process.
  • The Company has set up two new subsidiaries named Putthachart Estate Company Limited and Phanalee Estate Company Limited, with an initial registered share capital of Baht 1 million each and later registered to increase the authorized share capital to Baht 50 million on November 22, 2006.
  • The Company was granted approval of issuance of short-term Bill of Exchange (BE) (within 270 days) to investors at a total amount of Baht 1,000 million.

2007

  • As per the 2007 Annual General shareholders’ Meeting’s approval, the Company registered the increase in authorized share capital and also registered the Amendment of Memorandum of Association Article no.4 to be in line with the increase of the Company’s registered capital, from Baht 2,224.75 million to Baht 2,255.75, with the Ministry of Commerce, on April 23, 2007.
  • The Company has adopted a SBU (Strategic Business Unit) structure to accommodate its long-term growth.The Company increased its paid-up capital from Baht 2,173.8 million to Baht 2,180.2 million on August 9, 2007, to accommodate the third exercise of warrants from ESOP scheme.

2008

  • A subsidiary named Phanalee Estate Company Limited had registered to increase authorized share capital on September 22, 2007, from Baht 50 million to Baht 200 million (2,000,000 shares at Baht 100 par value) with the Ministry of Commerce without additional cash received.
  • The Company increased its paid up capital from Baht 2,180.2 million to Baht 2,185.95 million on 6 February 2008 to accommodate the fourth exercise of warrants from ESOP scheme.
  • The Company built a plant manufacturing precast steel-reinforced concrete panel with special element. The project value is Baht 90 million excluding land cost and is on stream in June 2008 with 400-cubic-metre-permonth capacity. This locates in the same area of the first and second plant.
  • The Company increased its paid up capital from Baht 2,185.95 million to Baht 2,191.39 million on 8 August 2008 to accommodate the fifth exercise of warrants by the Company’s directors, employees and advisors and/or the subsidiaries (PS-WA), in a total amount of 5,441,500 units on July 31, 2008.

2009

  • The Company officially launched its 3 new brands: The Tree, the Plant Citi, and Be You.
  • From the 2008 Annual General shareholders’ Meeting held on April 11, 2008, the shareholders approved the issuance and offer for sale of Debt Securities under the project (Shelf Filing). The amount was set not exceedm Baht 2,000 million within three years. The Company then issued Baht 1,500 million debentures afterward with 3 years tenor (29 January 2009 to the redemption date of 29 January 2012).
  • The Company increased its paid up capital from Baht 2,191.39 million to Baht 2,196.6 million on 5 February 2009, 7 August 2009, 4 December 2009 to accommodate the 6 th – 8 th exercise of warrants from ESOP scheme.

2010

  • The Company’s English name changed from “Preuksa Real Estate Pcl.” to “Pruksa Real Estate Pcl.”. The Company’s brands also change to reflect new name re-branding.
  • After announcing 2009 audited financial statement, the Company became the largest residential developer in Thailand in term of revenue.
  • The Company officially launched several local condo brands : Chapter One, Condolette, Fuse, Urbano (Townhouse and Condo) and its first international brand “Coral Ville“ in Maldives
  • In Hulhumale, Maldives, after signing the JV agreement with Housing Development Corporation (HDC), the Company started launching low rise condominiums “Coral Ville” and achieved 93% sales.
  • In Bangalore, India, the Company acquired its first land plot successfully ~ 65 Rai (26 Acres) , got all licenses approval and started doing pre launch the first phase of row houses and Villas project at Budigere
  • In Mumbai, India, the Company signed Joint Venture Agreement with SOHAM Group of Companies to start developing the 1st project of row houses, twin homes and villas at Pimplas Thane.
  • In Hai phong, Vietnam, the Company signed 85% Joint Venture Agreement with Hoang Huy Service Investment Co.
  • The Company started developing in up-country. In June 2010, it launched the first project in Ayudhaya.
  • The Company finished construction of (Precast Concrete Factory-PCF) PCF #4 and PCF #5 with the construction cost of 1,050 million Baht. The test run began in the middle of December 2010. The possible name plate capacity of PCF # 5 is 430 houses per month. When combining with PCF # 1, both of PCF # 1 and PCF# 5 can produce 690 houses per month together. The PCF # 5 is the maximum capacity precast factory in the world. It has production area of 14,200 square metre and stock area of 9,800 square metre.

2011

  • Precast Concrete Factory (PCF) #4 and #5 which were on test run since 2010 were developed to be ready for 100% possible nameplate capacity in the middle of 2011.The Company newly launched the following brands :
    - Townhouse Villette, The Rino and Patio to serve middle-to-high home buyers.
    - Single Detached House Natura, Pruksa Puri to serve middle-to-high home buyers.
    - Condominium Plum condo to serve middle-to-low income.
  • Newly projects are expanded to other provinces such as Phuket (Pruksa Ville) and Khon Kaen (Single Detached House/ Duplex houses) brand “ Puksa Nara”
  • In Bangalore, the Company transferred its very first low-rise unit from project “ Pruksa Silvana” in December 2011. The total accumulated booking since 2010 hit 469 million Baht
  • At Maldives, the Company started to transfer condominium units in its first 2 building from 9 building s from “Coral Ville” project on Hulumale , Maldives.

2012

  • The Company has implemented a new construction technology called “Real Estate Manufacturing (REM)” in order to reduce not only dependence on labor and working hours but increase in productivity and quality. REM process is similar to car manufacturingprocess. During construction period, a contractor is assigned and responsible for only a job in which he is skilled. With this method, the average construction time of low rise project is estimated to reduce from 45 days to 21 days.
  • Due to 2011 floods, the Company set necessary procedures, which help reduce risks and prepare for future floods, for every launched project such as soil modification at construction sites (low plains, slopping land, etc.), landfill at either main road levelor past flooding level, improvement of drainage system and flood protection system of projects.
  • On 21 September 2012, the Company issued and offered two tranches of debentures for sale with the total value of Bt5,000m. The first tranche is worth Bt3,000m with three and a half-year maturity and the second tranche is worth Bt2,000m with five-year maturity. The redemption is due in 2016 and 2017, respectively.

2013

Awards and Pride

Pruksa Real Estate Public Company Limited is determined to develop dwellings in order to respond to the need of those who dream of having a house of their own. It is also determined to undertake business to support growth to the society and the nation.

Under this philosophy, the Company is therefore well recognized by numerous customers, investors, educational institutions, and mass media, including business allies. With the performance clearly seen in the public eyes, Pruksa Real Estate Public Company Limited has been receiving awards of honor from various institutions and organizations which are reputable both domestically and internationally. All these serve as proof of success and determination of the Company in perpetually developing products of quality.

»» Best CEO Award
The Stock Exchange of Thailand has bestowed the “2013 Best CEO Award” to Mr. Thongma Vijitrphongphanth, the CEO. The Award go to the Executive possessing best charisma who is capable of leading the organization to success, and who adheres to moral in managing the organization, including vision and strategic ability, and good attention to customer relationship activities.

»» Best Company Performance Award
The Stock Exchange of Thailand (SET) has bestowed the “2013 Best Company Performance Award” to Pruksa Real Estate Public Company Limited. As a listed company in the Stock Exchange of Thailand, it accomplished the best performance in the group of companies with share value between Bt20bn to Bt50bn.

»» Outstanding Corporate Social Responsibility Award
Pruksa Real Estate Public Company Limited was bestowed the “Outstanding Corporate Social Responsibility Award” for business undertaking with respect to social responsibility from the SET AWARDS 2013, organized by the Stock Exchange of Thailand for being a listed company outstanding in undertaking business with continuous social responsibility.

»» Sustainability Report Awards
The Association of Listed Companies bestowed the 2013 Sustainability Report Awards to Pruksa Real Estate Public Company Limited, which is an outstanding award, and theCompany being the only one in the real estate business group to have received such award. This accounts for another benchmark of success pertaining to social responsibility of the Company.

»» CSRI Recognition
Pruksa Real Estate Public Company Limited was bestowed the“2013 CSRI Recognition” under the general category for the Stock Exchange of Thailand as being a good model companyfor the determination to develop business undertaking with regards to social responsibility.

»» ASQ Award
Pruksa Real Estate Public Company Limited is the first company of Thailand that participated in the networking meeting of experts on quality from the United States of America or ASQ World Conference on Quality and Improvement. The Company submitted 2 projects outcome: Quality Improvement for Construction which received the “Silver-Level Award”.The project was praised for creativity in problem solving. The second project was Valuable Design for Residential Product which was awarded the “Bronze-Level Award”. This project was additionally awarded the “Positive Impact on Society Project”. The above-mentioned successes resulted from the fact that the Company has been emphasizing on the continualimprovement of construction quality control for the last 3 years. Furthermore, other performances can be physically proven from the continuously improved quality of houses, also in compliance with the Company’s policy which emphasizes delivery of quality product and service for highest customer’s satisfaction.

»» BCI Asia Top 10 Developers Awards
Pruksa Real Estate is one of the Asian companies that were selected to receive BCI Asia Top 10 Developers Awards 2013 from BCI Asia. The awards are given to the project with outstanding quality, exceptional design, functionality and reasonable project value.Thirteen Pruksa projects were considered and entitled to the awards namely Pruksa Ville 55 Ring Road-Ram Intra, The Connect Chaengwattana, Pruksa Ville 52/2 Rassada-Lukkongsee (Phuket), Pruksa Ville 42 Terdthai-Kulapapruk, Pruksa Ville 48, Luksi-Don Muang, Pruksa Ville 54 Rama V, The Connect UP3, The Plant Nawamin, The Plant Resort Rama V-Kanjanaphisek, The Plant Pattanakarn, Patio Pattanakarn, Plum Condo Ladprao 101 and Condolette Dwell Sukhumvit 26. Pruksa Real Estate has received the awards for three years in a row.

»» Top 10 best marketing awards 2012
Marketing Strategist Radio Program, No. 1 radio program from News Network Radio (FM 100.5 MHz), presented the Top 10 Marketing Award 2012 to Pruksa Real Estate to recognize the Company’s outstanding and successful marketing strategy. Pruksa Real Estate is the only real estate company which received this award.

»» Best Real Estate Developer Award
Pruksa Real Estate Public Company Limited was honored to be bestowed the “2013 Best Real Estate Developer Award” by the Office of the Consumer Protection Board. Three projects received the price: Pruksa Village Scenery Project at Rangsit Klong 2, Pruksa Ville Project at 31 Saimai, and Baan Pruksa Project at 52/1 Phaholyothin-Navanakorn.

»» Certificate of Common Class Honor
Pruksa Real Estate Public Company Limited received the Certificate of Common Class Honor from H.R.H. Princess Soamsavali in honor of the Company for good cooperation with the National Blood Service Center of the Thai Red Cross through blood donation activities for humanitarian reason in a long and continuing period of time, with 2013 being the 8thconsecutive year.

OTHER

  • The Company announced a new vision “With building valuable dwellings for each family to perceive happiness, family warmth, and have a better daily life, Pruksa is determined to be ranked number one brand in customers’ minds for residential real estate business, and become one of the top ten real estate brands in Asia. Besides, reorganization was done in response to customers’ needs of each segment and each level. Managements’ responsibilities are divided into housing market segmentation with a focus on innovative construction, good quality houses, excellent service, and flexible management by being in line with a regular change in competitive real estate market.
  • Prefabricated bathroom has been developed for a condominium project (starting the installation in 2014). As a result, beautiful models with higher quality are offered. In addition, after-use problems, labor shortage problem, and unskilled worker problem will be lowered and be able to transfer the new units faster.
  • Fully Precast system is developed for constructing an eight-storey condominium project (low rise). The Fully Precast system which is Pruksa’s strong point not only has reduced the business period but also helped solve labor shortage and work quality at the sites, which is and improvement due to and the use of prefabricated materials. The Company is an expert in innovative construction using prefabricated materials which has been used for constructing both townhouse and single-detached house projects same time. Meanwhile, the Company is in the process of integrating REM system with the new construction technique. Moreover, Asian Institute of Technology (AIT) has been assigned to analyze earthquake-resistant structures.
  • Building Information Management (BIM), which is officially known as Building Information Modeling, has helped improved three-dimensional construction drawing. BIM has also helped to reduce the conflicting drawing during the construction process. To aid the estimation of material quantities and to reduce the number of steps in working process, the computerized calculation system is used.
  • In order to support the Company’s growth set in the business plan, the Company invested Bt2,100m, purchased 130 rai of land at Navanakorn Industrial Estate in Pathum Thani province for construct another two Precast Concrete factories (PCF 6 and PCF 7). PCF 6 will be a Carousel Plant which uses Fully Automated Carousel System and will become the factory having the highest capacity for producing bearing wall in the world. The computer system is in control of every manufacturing process as follows :

    » Shuttering and block out robot
    » Automated mesh plant with mesh storage and handling system
    » Automatic concrete pavers
    » Automatic concrete polishing machine
    » De shuttering robot
    » Finished goods automatic storage

    In addition, Concrete Recycling System technology will be used to clean wastewater and sort out scrap concrete so that both will be reused in the production process. This system is environmentally friendly because there is no unwanted material left over from the production process. The manufacturing process of PCF 6 and PCF 7 will be operated at the end of 3rd quarter of 2014.

  • In 2013, the Company issued and offered two tranches of debentures for sale with the total value of Bt6,000m. The first tranche is worth Bt3,000m with three year and one month maturity and the second tranche is worth Bt3,000m with five-year maturity. The redemption is due in 2016 and 2018, respectively.
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