The main revenue of the Company is generated by real estate development business for sale. In addition, the Company commenced healthcare services and new investment in businesses related to the two main businesses to generate recurring income and regular returns as follows:

1. Real Estate Business

Pruksa Real Estate Public Company Limited (“Pruksa”) operates a real estate business involving residential real estate development, including townhouse, single-detached house/semi-detached house and condominium around Bangkok Metropolitan Region which are located in prime locations and high growth. In 2010, Pruksa launched residential projects in provinces e.g., Phra Nakhon Si Ayutthaya, Chonburi, Phuket, Khon Kaen, Chiang Mai, and Rayong. Pruksa also penetrated the premium segment with low-rise products and condominiums in order to increase market share in high-end residential real estate market. Moreover, Pruksa improved its brand image to promote clarity of management in each business group with regard to achieving sustainability and continuous growth to secure financial stability.

Currently, Pruksa has divided business operations into 3 main product types, including townhouse, single-detached house, and condominium.

Townhouse business

The townhouse business is operated under the following brands:

Townhouse/Shophouse

Townhouse business is the leader of Baht 1-5 million products under Baan Pruksa, Pruksa Ville, and The Connect. PATIO brand focuses on premium segment with the value of more than Baht 5 million, to capture the customers in search for their own houses not for speculation purpose in Bangkok Metropolitan Region as well as other potential provinces.

Townhouse business is operated under different brands and designs catering to different customers’ needs and emphasizes on functional innovation and leadership in living solutions for townhouse business.

Townhouse business reported approximately 12% of shares in residential townhouse market, with revenue accounting for 30% of total revenue from real estate.

Single-detached house business

The single-detached house business is operated under the following brands:

Single-detached House

The single-detached house business captures target customers with product value ranging between Baht 3-15 million, and Pruksa is the leader in Baht 3-5 million segments for single-detached house. The Plant focuses on Baht 3-5 million segments, Passorn on Baht 5-10 million segments, and The Palm on more than Baht 10 million segments.

The single-detached house business places focus on product excellence by developing products with innovations to deliver quality houses at affordable prices to the customers promptly.

The single-detached house business reported approximately 4% of shares in residential single-detached house and semi-detached house market, with revenue accounting for 18% of total revenue from real estate.

The Condominium business

The condominium business is operated under the following brands:

Condominium

The segments and brands of condominium business include Baht 1-2 million under Plum Condo, Baht 2-5 million under The Tree, The Privacy, and Chapter One, and more than Baht 5 million under Chapter and The Reserve.

The condominium business develops its products under various brands to create differentiation in accordance with customers’ needs and lifestyles, thus creating optimal quality of life sustainably.

Pruksa’s condominium business development policy is to focus on high potential land and harmonize the proportion of low-rise and high-rise condominiums to stabilize both short-term and long-term revenue. The condominium business reported approximately 1% of share in residential condominium market in Bangkok Metropolitan Region, with revenue accounting for 52% of total revenue from real estate which was due to the transfer of 7 condominium projects.

In addition, Pruksa has brought in the technology of Fully Precast to be used in the production and construction of low-rise houses which is a method for constructing a prefabricated reinforced concrete load-bearing wall structure system. The workpiece is produced in a modern factory which helps the construction process to be accurate, fast and reduces errors due to workers during the construction period as well as helping to alleviate the problem of skilled labor shortage in the market effectively. In 2022, the Company restructured its business and established a new company named Inno Precast Company Limited (“Inno Precast”) to spin-off the precast business unit. Our factory is the first green precast factory in Thailand that uses the concept of "Zero Waste" and brings in green technology "CarbonCure" making the Company the first in the real estate development group to do so. In addition, in order to achieve the Company's strategic plan in building a sustainable business, creating specialty, expanding new customer base and increasing the efficiency of business operations and flexibility in the management of the Company in order to continue to grow continuously. In the beginning of 2023, the Company announced a collaboration with General Engineering Public Company Limited in the exchange of common shares for the utmost benefit of both companies and resulting in the Company to be able to conduct a complete real estate business from upstream to downstream products.

2. Healthcare Business

The first hospital of Vimut Hospital Group commenced service in May 2021, it is a tertiary care general hospital with a capacity of 236 beds, with a starting capacity of 100 beds. The hospital provides medical services for both general and complex diseases. The total area of the hospital is approximately 4 rai, located on Phaholyothin Road near Saphan Kwai intersection. The initial investment is Baht 4,900 million, divided into Baht 950 million for land and Baht 3,950 million for construction, medical equipment and others. The hospital has been certified with the HA level 2 since 2022.

In 2022, Vimut Hospital generated income from providing medical services to general patients and services related to Covid-19, causing the hospital's revenue to grow from the previous year. This was through providing more than 120,000 outpatient services and more than 100 inpatient services per day, both Covid-19 and Non Covid-19 patient groups. The hospital also has cooperated with both the public and private sectors in providing quarantine services, treating Covid-19 patients, providing more than 100,000 injections of vaccination against Covid-19. Foreign patients ward was also opened to support more demand causing the number of foreign patients to increase from the previous year by more than 30%.

Theptarin Hospital

In addition, in 2021, Vimut invested 51% in Theptanyapa Company Limited, which operates Theptarin Hospital, locating on Rama 4 Road. It is a medium-sized 80-bed general hospital with excellence in comprehensive patient care, especially in the treatment of diabetes. The intention of the founder of Theptarin Hospital is consistent with the business guidelines of Vimut Hospital who wants to take care of patients in the hospital and those living in their own community.

Hospital expansion business

With an approach to expand its business plan to create a trusted healthcare platform, Vimut Hospital plans to expand its medical operations ecosystem to enhance the health of Thai people with a network of hospitals, clinics, rehabilitation centers, and nursing home for elderly. This also includes health care services at home (Health-to-Home) to create a livable community and meet the lifestyles of people in today's society comprehensively. Therefore, the service base has been expanded to be more than just treating the disease in the hospital. The Company has established Vimut Wellness Service Company Limited to support the expansion of the aging society. In August 2022, ViMUT Wellness @ Bangna-Wongwaen was opened, the first rehabilitation center and nursing home for families and the elderly. It is a medium sized physical therapy hospital with 50 beds.

In order to expand the business to keep up with market demand, Vimut has joined hands with JAS Asset Public Company Limited (JAS Asset) to co-establish Senera Vimut Health Service Company Limited. Vimut holds 51% of shares to operate a nursing home for elderly, both overnight and non-overnight, with a size of 78 beds, located at JAS Green Village, Kubon Road, with an investment budget of Baht 40 million. The center is expected to open in the first quarter of 2023.

In terms of investing in new business to extend its innovation mission, the Company has entered into a joint venture with Pathology Asia Holdings, one of Southeast Asia's largest medical diagnostic services providers. There are plans to make use of the knowledge of medical diagnosis, Genomics and modern laboratory administration systems as well as focusing on expanding business in Thailand. This will bring world-class medical innovations to support and increase the efficiency of healthcare services of the healthcare business.

Meanwhile, the clinic "Ban Mhor ViMUT" provides general medical services, wound dressing, blood tests, general health check-ups, vaccination, as well as providing health advice by a doctor specializing in family medicine. It is another business that is extended from Vimut Hospital to provide medical services to the community covering from prevention, treatment and rehabilitation, this clinic is the first pilot service in Rangsit area, Khlong 3, Pathumthani province.

Healthcare business continues to expand. The technology has been further developed by creating the ViMUT Application to increase channels for providing services to patients, and access to treatment at all times by providing telemedicine services. Patients can access online medical consultations without having to visit the hospital. This includes drug delivery service to home and instant online payments. In addition, in the past year Vimut Hospital has launched ViMUT Life Link, a smart solution that helps the elderly to report emergencies and receive immediate treatment, responding to the needs of modern families where everyone has to leave home for work. This is equivalent to having doctors and nurses to take care of the elderly 24 hours a day.

3. New Business and Strategic Investment

The Company continues to focus on investments to promote and increase profitability, generate recurring income and create sustainable growth of the core business. In addition, it continues to seek investment opportunities in new businesses and emerging technologies to be a channel to expand business growth according to the Company's long-term strategy. Both domestically and internationally, there are various investment models as follows:

Investment Type PropTech HealthTech SustainabiityTech Others
Corporate Venture Capital
Strategic Investment
New Seed Business

PropTech

In the current housing market in Thailand, real estate developers use Property Technology (PropTech) to help promote and drive business operations resulting in more online housing transactions to raise the level of increasing quality and service. However, the overview of the real estate industry towards the application of PropTech in the industry is still low compared to other industries. Therefore, the Company considers this as a different growth opportunity to create sustainable Investments. In April 2022, the Company invested in Taronga Ventures in the part of RealTech Ventures Fund, which is considered a Venture Capital Funds, based in Australia. Taronga is well-known and specialized in Software Technology Business group and innovation for the environment, sustainability and responsible investment in Asia with a focus on investment in the real estate sector.

In addition, in April 2022, the Company invested in IC SG Pte. Ltd., Singapore under investment namely InvestaX, a specialist in financial technology business and digital asset platforms through the use of Blockchain technology to develop and drive investment, reduce transaction costs to create transparency and deliver trading of digital assets in private markets around the world. Moreover, using blockchain technology can promote the growth of the Company to support investment in digital real estate in the future

HealthTech

The Covid-19 pandemic situation has accelerated HealthTech to play a role in helping to reduce risk and facilitating healthcare services. In addition, Thailand's entry into the aging society, as well as consumer behavior that turns to preventive health care, encourages the HealthTech market in Thailand to continue to grow. Entrepreneurs have brought health technology to help promote accessibility and development in the field of care and treatment. As a result, more new forms of services and treatments have been created, such as remote diagnosis and treatment (Telemedicine), the use of artificial intelligence to help diagnose diseases (Healthcare AI), search for elderly caregivers (Caregiver platform), etc. The health business sector has invested and developed from traditional care to having more involvement of technology. Therefore, investing in and partnering with leader healthcare technology is an important opportunity for growth to increase customer reach and development of services to create sustainable investment

In February 2022, the company made a strategic investment in Pathology Asia Holdings Pte. Ltd. (PAH), a Singapore-based holding company, where PAH is one of the leading providers of Clinical Diagnostic Service in Southeast Asia. The lead investor is the Singapore government fund. Its subsidiaries engage in Clinical Diagnostics & Laboratories Service, Digital Health Services, and Genomics Diagnostics Business (Genomics and Life Sciences). Currently, PAH has branches in 5 countries, namely Singapore, Malaysia, Australia, Vietnam and the Philippines. This investment is not only an investment to expand the market in Thailand but also leads to business partnership opportunities in the future, in which the Company can apply knowledge and various innovations to enhance the Company's healthcare business. At present, the Company has begun to establish a joint venture with the objective to operate Genomic & Laboratory services in Thailand.

Additionally, in June 2022, the Company invested in Naluri Pte. Ltd., Malaysia. Naluri is a digital preventive wellness provider that uses health-specific AI to analyze and design a plan and method of care according to the health of each individual. This is a holistic approach for both physical and mental healthcare to help manage a wide range of chronic conditions. The target customers include private companies who want to take care of their employees' health and group of health insurance. In the same month, the Company also invested in Amili Pte. Ltd., Singapore, where Amili is a leader in gut microbiome or biotechnology in the gastrointestinal microbiome, the first and the only in Southeast Asia. The company is engaged in the business of Diagnostics & Therapeutics, Fecal Microbiota Transplant, and Personalized Wellness Business This includes the sale of diagnostic testing products (Test kits) and products in the group of probiotics, consulting business for functional food products, as well as the launch of co-products and product certification (Health Labeling). This investment is an opportunity to invest and develop research centers, including the treatment of the gastrointestinal tract and open up the opportunity to be a manufacturer of probiotic products in the future.

SustainabilityTech

In August 2022, the Company has cooperated with Gunkul Engineering Public Company Limited to establish a joint venture company "Pun New Energy Co., Ltd." to create Energy X Living Solution to increase business opportunities in bringing clean energy services as the core of sustainable living development. This joint venture company has the potential to install solar roofs in residential projects of Pruksa. It combines the expertise in the power system and renewable energy business with the real estate development of the Company which focuses on entering the Low-Carbon Economy as well as being the first step towards extending the missions of both companies to be clearer in the future.

Others

In June 2022, the Company invested in Pundai Co., Ltd. to promote the Company's e-commerce business. Pundai is a tool that helps businesses and product owners to reach more targeted and wider customer groups. This is an innovative Social Commerce 4.0 through KOL and KOC tools as well as through customer referrals. Referral to consumers are rewarded with a commission when the sale is made. Product owners can create a sales area in the platform and send links to customers to pay directly or through an online immediate appointment of a sales representative. Nowadays, e-commerce business is very competitive, resulting in higher marketing expenses. Affiliate Marketing therefore plays an important role. This form of marketing started in China during the past Covid-19 pandemic and tends to grow continuously. Therefore, the Company saw an opportunity to adapt this business model in Thailand to support future growth trends.

In addition, the Company continues to seek investment opportunities in other emerging technology sectors. In December 2022, the Company announced its participation in the CapitaLand SEA Logistics Fund through a partnership with CapitaLand Investment Group (CLI), a leading global real estate investment management group well-established in Asia and Ally Logistic Property (ALP), the most advanced integrated warehouse solution provider in the logistics industry of Taiwan, with CLI acting as the fund manager. For this regional cooperation, it will focus on investment and development of industrial and logistics real estate assets used in key countries across Southeast Asia, by focusing on the development of intelligent logistics infrastructure in the form of services to innovative solutions that increase efficiency, create value, use less time, increase the flow of goods. Therefore, customers and online stores can benefit from the warehouse that reduces the use of resources along with reducing operating costs. This is considered the first step of the Company to expand the business to the logistics industry which fosters diversified income distribution strategies and increase recurring income.