10 August 2012 - Pruksa captivates its business model strength utilizing the flexibility to adjust the portfolio and gears up to achieve Bt11.543 billion of revenue in the first quarter with the net profit of Bt1.635 billion. Pruksa expects to record the highest total revenue in the real estate business.
Mr. Prasert Taedullayasatit, Director and Chief Business Officer, Pruksa Real Estate PCL, revealed the operating result in the second quarter of 2012, “Overall, the real estate business is back to normal after it was affected by the massive flood late 2011. The confidence and purchasing power of the consumers have recovered. And thanks to Pruksa’s strategic and internal adjustment early in the year, the company achieved the revenue of Bt6.868 billion in the second quarter and the net profit of Bt1.002 billion. Based on the operating result in the first half of the year, Pruksa managed to maintain the business growth with the total revenue of Bt11.543 billion and the net profit of Bt1.635 billion”.
Pruksa launched 14 new projects in the first half of the year, consisting of 10 townhouses, 2 detached homes and 2 condo projects with the combined value of approximately Bt11 billion. A majority of these projects focus on the segment of the customers who have the real demand or planning to reside in the bought property. In the second quarter, Pruksa achieved the sales income of Bt7.019 billion, a rise by 24% from the first quarter with the sales revenue of Bt5.669 billion. The company accomplished the total sales in the first half of the year of Bt12.688 billion, 44% of which comes from townhouse, 26% from detached home, 30% from condominium and 0.3% from overseas business.
“In the first half of the year, the real estate developers have been able to adjust their business to respond to the situation. Pruksa has recovered faster than initially expected because we have the business model which provides for flexibility to manage our portfolio with speed in accordance with the market demand. We have all types of products including townhouses, single houses and condos, targeting every segment. Therefore, the company’s operating result in the first half rose in terms of sales, income and net profit. Particularly, the company’s revenue shines out with 54% comes from townhouse, 35% from single houses, 9% from condos and 2 % from projects in India and Maldives. As a result, Pruksa achieved the total sales in the first half of this year of Bt11.543 billion and the net profit of Bt1.635 billion, expecting to win the highest revenue and the net profit in the industry. Therefore, Pruksa will continue to lead the market and be No. 1 the real estate business. Although Pruksa was affected by the flooding last year, we spent only 5-6 months to turnaround and record impressive performance again,” said Mr. Prasert.