Thailand listed property developer Pruksa Real Estate recorded rises in both revenue and profits during the turbulent first half of 2014.
The company reported than an additional 35 new projects, worth THB41,4 billion are underway, bringing the total number of projects released during the year to 73 with the total value of THB72.4 billion Baht.
Thongma Vijitpongpun, Chairman of Executive Committee and Chief Executive Officer of Pruksa Real Estate Plc., said in a statement: “The company made THB18,18 billion in revenue, which reflects an increase of 22.7 percent when compared on a year-on-year basis with the same period of 2013, during which the revenue was THB15,336 billion.
“Net profit reached THB2.935 million which reflects 34.5 percent rise on a year-on-year basis. The major source of revenue is still from sales of townhouses which make 60 percent of total revenue.”
He added sales of detached houses in terms of total revenue is 23 percent, while that of sales of condominium and projects in foreign countries are 16 percent and 1 percent respectively.”
He added: “Although the economy slowed as a result of the political situation at the beginning of the year and drove the overall growth of the year’s real estate market down by approximately 7.2 percent when compared to 2013, Pruksa Real Estate is successful in stabilising growth.
“This is mainly because the company targets customers with real demands and keep expanding its customer base strategically to cover other segments as well.”
Andrew Batt, International Group Editor of PropertyGuru Group, wrote this story. To contact him about this or other stories email: andrew@propertyguru.com.sg
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