Press Release


Pruksa Real Estate boasts the operating result in 2013, making the new record both in terms of sales

18 February 2014 3:59 PM


Pruksa Real Estate boasts the operating result in 2013 which exceeds the original targets in terms of sales, revenue and net profit to make the historic record in 21 years. Pruksa achieved total sales of Bt41.282 billion, total revenue of Bt39.041 billion and net profit of Bt5.801 billion.

 

Mr. Thongma Vijitpongpun, Chairman and Chief Executive Officer, Pruksa Real Estate PCL, said of the operating result in 2013, “2013 marks the golden year of Pruksa because the company’s operating result exceeds the expectation. Sales, revenue and net profit rose from the previous year to hit the new record in 21 years with sales of Bt41.282 billion, rising by 40 per cent from Bt29.397 billion in 2012 and total revenue of Bt39.041 billion, an increase by 44 per cent compared to Bt27.141 billion in 2012, and net profit of Bt5.801 billion, a rise by 49 per cent from Bt3.898 billion in 2012.

 

The significant rise in operating result is attributed to the company’s strategy adjustment and management restructure in the middle of last year. Pruksa managed to expand the market in each product segment, thanks to its streamlined operation and higher efficiency as evidenced by the massive rise of revenue in the fourth quarter by 40 per cent from the third quarter.”

 

Mr. Lersak Chuladesa, Vice Chairman and Executive Director, added, “The combined revenue totaling Bt39.041 billion comes from Bt38.848-billion sales of real estate projects and Bt193 million from other revenues. The success is a result of higher efficiency in Pruksa’s construction management. Pruksa Precast Factory embodies state-of-the-art technology to maximize the production capacity. In addition, Pruksa has increasingly applied Real Estate Manufacturing (REM) system in the construction. Consequently, the company could transfer the ownership of 16,969 units in 2013. Of the total, the ownerships of 13,169 units of detached house and townhouse were transferred in addition to 3,800 units of condominium. The figure rose from 2012 when a total of 12,283 units were transferred. The number of ownership transfer breaks the highest record that the company has achieved so far. The figure is likely to be the highest in the industry as well.”

 

“Overall, Thai residential market in 2013 expanded by 4 per cent compared to 2012. The market value of residential market in Bangkok and its perimeter totalled around Bt348.536 billion. As for 2014, it is expected that the residential market should grow in a narrower range close to the level in 2013. However, if there is any negative factor or political violence, the residential market may slow down by 2 per cent.

In any case, the company has been prepared and capable of adjusting the strategy to cope with the situations.  By targeting the customers with real demand, Pruksa believes that this year the company will be able to maintain sustainable growth and is determined to be No. 1 in the heart of the customers according to the vision. Pruksa plans to focus mainly on horizontal development namely single house and townhouse which account for 80 per cent. Moreover, the company also plans to further expand to the mid-level and upscale customers and to provinces,” said Mr. Thongma.

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