Condo and Low-Rise Projects Help Maintain Revenue and Earnings Growth

Mr. Vijitpongpun of Pruksa has stated that he attributes revenue and earnings growth to the company’s backlog from both condominium and low-rise projects, including detached housing and townhouses, which has accelerated overall construction time and enabled the developer to deliver units to customers on time.

Pruksa recorded presales of THB 10.3 billion in the first four months of the year. The company recorded revenue in the first quarter of THB 8.05 billion, up 27 percent year-on-year, and net profit of THB 1.06 billion, up 38 percent. It will also maintain its presales target of THB 45 billion and revenue goal of THB 42 billion for the entire year.

Pruksa has also tried to reduce the rate at which banks reject its customers’ mortgage applications by helping some customers revise their financial statements and recommending that others seek joint borrowers.

The company has planned to embark on 50 residential projects, worth over THB 50 billion, over the course of the year. At present, 18 projects, worth THB 14.12 billion, have already been launched, with good customer response.