Press Release

Pruksa Real Estate announced net profit of 4,774 MB for 9M, increasing by 35% y-o-y

17 November 2014 5:04 PM

Mr. Thongma Vijitpongpun, Chief Executive Officer and President of Pruksa Real Estate Public Company Limited (“Pruksa”), revealed that the Company’s performance for 9M2014 still grew as planned with its total real estate sales of 30,372 MB, rising by 21% compared to the sales figure of 25,108 MB in the same period last year. Major contribution came from the sales of townhouse, Pruksa’s main product category, of  17,039 MB, rising by 24% y-o-y as a result of an improved, more efficient construction process that required shorter construction period and, thus, was able to deliver houses to customer more quickly. The sale of condominium was 6,204 MB, rising by 42% y-o-y, as more condominium were completed and delivered to the customers, such as Ivy Ampio, Chapter One, Plum Bangkhae, Condolette Ize Ratchathewi, and the Privacy. The sale of single detached house was 6,796 MB.

“Because Pruksa has been continuously improving itself and because we have a superb working team and efficient cost management, our revenue for 9M14 significantly increased and led to an impressive net profit figure of 4,774 MB, rising by 35% compared to net profit in the same period last year of 3,540 MB. Although the Company expects residential market in Thailand to decelerate by 10% from last year, the Company is confident that it can achieve its revenue target set at 42,000 MB.”

Mr. Lersuk Chuladesa, Chief Operating Officer/ Acting Managing Director - Supply Chain, Pruksa Real Estate PCL, revealed that, in 9M14, the Company recorded total sales of 31,330 MB, and opened 52 new projects with total project value of 48,685 MB. New projects comprised of 27 townhouse project, 15 single house projects, and 10 condominium projects. It plans to open another 10 projects with the total project value of 9,600 MB in the last quarter of this year, There are 180 active projects for sale as of September with the total salable value of 77,997 MB and backlog value of 38,794 MB, both of which are good sources of the Company’s revenue this year and in the future.”

“At the end of the 3rd quarter, Pruksa was able to better manage its Business Cycle Time. The period from unit reservation to unit transfer of horizontal residences (townhouses and single houses) was greatly abridged to 90 days, significantly lower than 146 days in 2013. This resulted from the fact that Pruksa Precast Factory No.1-15 were able to manufacture 725 houses on average, which was 113% of the ordinary average production rate of 640 houses/month. For the plan to expand customer base to premium segment, the Company also succeeded in the opening of single detached houses in the 9-25 MB price range under the brand “the Palm” and a condominium branded “The Signature by Urbano”, which were warmly welcomed by the customers. With a management strategy that focuses on continuous process improvement and development to better serve the needs of all customers who demand quality residences, Pruksa will be able to maintain its growth sustainably.”, Mr. Lersuk said.



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