Company News

- 13 November 2023 - "Pruksa Holding" (or PSH) announces its performance results for the first nine months of 2023, achieving a net profit of 2,082 million Baht, marking a 30% growth. The total revenue for this period is 19,900 million Baht, showing a 9% increase compared to the corresponding period in 2022.

Mr. Uten Lohachitpitaks, Group CEO of Pruksa Holding Plc, revealed the company’s performance for the first nine months of 2023, indicating a total revenue of 19,900 million Baht, a 9% growth. This growth resulted from improved sales in both single detached houses and condominiums, as well as a significant increase in revenue from the healthcare business not associated with COVID-19, combining with other incomes from restructuring of the real estate and healthcare businesses into profit-generating units contributed to a net profit of 2,082 million Baht, marking a 30% growth compared to the same period in 2022. In the recent third quarter, Pruksa Holding reported a profit of 80 million Baht from the transfer of Labplus One, a subsidiary of Theptarin Hospital, to Innoquest Diagnostics One, a joint venture between PAH (Thailand) Pte. Ltd. and ViMUT Hospital Holding. Additionally, the company recently partnered with global real estate investment manager, CapitaLand Investment Limited to establish the C-WELL fund. The fund focuses on investing in wellness-oriented properties to fulfil “Live well Stay well” lifestyle. There are plans to expand to the Southeast Asian market with an estimated value of 25,000 million Baht. This will increase the proportion of recurring income including revenue from services offered by ViMUT Hospital and support the real estate business by adding existing properties to the fund for wellness-centric real estate development as well as set new standards for the residential housing sector in this region.

In the real estate business, Pruksa Holding has achieved sales of 14,241 million Baht in the first nine months, with transfers amounting to 16,985 million Baht. The total value of projects currently open for sale is 62,166 million Baht, with 10,895 million Baht available for immediate transfer and a backlog of 5,039 million Baht. In the fourth quarter, there are plans to launch seven new projects to enhance the business within the group and create residences that promote a “Live well Stay well" lifestyle. This involves integrating expertise from both the real estate business and ViMUT Hospital, as well as partnering with Synergy Growth. The latest project, "The Plant Bangna Km 5 – Srinakarin," featuring two-story Modern Barn House-style duplexes. The development offers benefits for residents in terms of services from ViMUT Hospital Group as well as from Synergy Growth, the developer of the application, MyHaus, which provides access to home devices via mobile devices, enabling functions such as control of electrical appliances from mobile devices, turning devices on and off, checking entry and exit history, and security notifications. The project emphasizes sustainable design elements such as Passive Design for efficient air circulation, heat-resistant roof insulation, the use of solar cells, and environmentally friendly materials. The project is set to launch its pre-sales on 25-26 November 2023.

In the healthcare business, Pruksa Holding reported a revenue of approximately 1,325 million Baht in the first nine months, experiencing a remarkable 71% growth compared to the same period in 2022. This growth was driven by a 102% increase in revenue that did not include COVID-related income. The healthcare segment includes revenue from Theptarin Hospital for treating more complex diseases, with specialized medical services in surgery, orthopedics, bones, and heart-related conditions. Simultaneously, the ViMUT Group is dedicated to expanding health checkup services to large corporations and insurance companies. Telemedicine services and home healthcare services are being offered to enhance brand recognition and continuously generate additional income. Additionally, efforts are directed towards building partnerships both locally and internationally. Recent collaborations include expanding ties with Ramathibodi Hospital to provide additional healthcare options and access to 17 health packages, such as surgeries for the gallbladder, uterus, breasts, ovarian cysts, hernia repair, colorectal surgery, knee replacement, and tumor or skin removal. The referral of patients from cooperative projects increased by more than 50% in the recent third quarter, contributing to the expansion of the customer base particularly patients transferred from public hospital. Moreover, there is a plan to expedite the increase in bed capacity for inpatients, with a target of 60 additional beds by the beginning of the next year.

"Moreover, with a steadfast commitment to creating and delivering quality living spaces aligned with a focus on societal and environmental concerns, it is another source of pride that 'Pruksa Holding' has been selected for inclusion in the 'Sustainable Stock' list by the SET for the eighth consecutive years. This reflects the company's dedication to conducting business within the framework of sustainable development principles, consistently emphasizing environmental, social, and governance (ESG) aspects. It underscores our commitment to sustainable growth in every dimension and reinforces the organization's dedication", Mr. Lohachitpitaks added.