Press Release

Pruksa records impressively rapid recovery with 11,543 Million Baht

10 August 2012 10:50 PM

August 10th, 2012 – Pruksa has once again demonstrated the impressive resilience and efficiency of its business model despite the harsh impact from last year’s great floods. The company has successfully produced a notable half-year performance by recording 11,543 Million Baht in revenue and 1,635 Million Baht in net profit – the achievements of which are estimated to rank among the top in the industry.

Mr. Prasert Taedullayasatit, Director & Chief Business Officer, Pruksa Real Estate Public Company Limited, revealed that, “Our performance in the second quarter of 2012 has clearly demonstrated that the our operations have been successfully restored to their normal state after suffering the impact of last year’s great floods. There are signs that consumer confidence and purchasing power have also been restored. Moreover, thanks to our flexibility in adjusting our business strategies and operational procedures in time to suit the changing situations during the early part of this year, we are proud to announce that our Q2 performance this year has remarkably recorded 6,868 Million Baht in total revenue and 1,002 Million Baht in net profit. So, during the first six months of 2012, Pruksa succeeded in maintaining its healthy business growth with 11,543 Million Baht in total revenue and 1,635 Million Baht in net profit.”

The company has launched 14 new projects worth approximately 11,000 Million Baht in total during the first half of 2012 – ten of which are townhouse projects; two detached-home projects; and two condominium projects. Most of these projects aim to appeal to customers with ‘real demand’ for residences to live in themselves. This strategic focus helped boost the company’s Q2-2012 performance significantly as the total sales closed at 7,019 Million Baht, a 24% rise from the same figure in the previous quarter when the sales closed at 5,669 Million Baht. Total half-year sales reached 12,688 Million Baht – 44% of which came from townhouses; 26% from detached homes; 30% from condominiums and 0.3% from overseas projects.

“Generally speaking, Thai real estate developers have done reasonably well in adjusting themselves to the ever-changing situations over the past six months. Pruksa, in particular, has shown an amazingly rapid recovery thanks to our highly flexible business model which enables us to manage our product portfolios efficiently according to evolving market demands. Our portfolios cover a wide range of real estate products – townhouses, detached homes and condominiums – which are made available in virtually all segments. This has led to our impressive first half in 2012 with notable growth shown in both revenue and net profit. The growth in the revenue, in particular, has been outstanding – 54% of which came from townhouses; 35% from detached homes; 9% from condominiums; and, 2% from overseas ventures in India and the Maldives. So, in the first half of 2012, we managed to record 11,543 Million Baht in total revenue and 1,635 Million Baht in net profit – the performance of which is estimated to rank among the highest in the industry and further underline Pruksa as Thailand’s no. 1 real estate developer. It’s even more amazing considering that such an outstanding performance was achieved merely 5-6 months after Pruksa became the Thai real estate developer to suffer most severely from last year’s devastating floods.”, concluded Mr. Prasert. 



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