Pruksa Real Estate, Thailand’s second-largest property developer by market value, recorded a 35 percent rise in third quarter net profits in a statement to the Stock Exchange of Thailand on Monday, underlining the swift and strong recovery in the last three months.
Net profit was THB1.84 billion baht for the period between July and September. This was slightly lower than the THB1.94 billion that has been forecast by three analysts polled by Reuters.
Revenue from its real estate business sales rose 18.6 percent from a year earlier to THB11.6 billion due to a recovery in the residential market, the company said in the statement.
Image: Pruksa’s Fuse Mobius Ramkhamhaeng Klongtan development in Bangkok.
Andrew Batt, International Group Editor of PropertyGuru Group, wrote this story. To contact him about this or other stories email andrew@propertyguru.com.
