Despite a rise in Covid-19 infections, SET-listed developer Pruksa Holding Plc (PSH) is maintaining its presale and revenue targets for this year as it has low-rise houses and online channels as key drivers.
Piya Prayong, chief executive officer of Pruksa Real Estate, a subsidiary of PSH, said presales last month showed good momentum in the housing market, particularly from low-rise houses.
"The number of walk-in customers to low-rise housing project sites in April didn't drop, even though there was a third wave of the pandemic," he said. "Those searching information through online channels also rose by 20%."
In April this year, Pruksa recorded 2 billion baht in presales, more than half of the 3.5 billion baht it posted in the second quarter last year.
The proportion of single detached houses and townhouses climbed up from 60% to 70%, while condos fell to 30% from 40%.
The company expected the good momentum in the first half would carry on in the second half of the year.
Its presales and revenue targets in 2021 each remain unchanged at 32 billion baht which would be an increase from 21.97 billion baht and 29.24 billion baht last year, respectively.
Pruksa reported 6.94 billion baht in presales in the first quarter this year, up 14% year-on-year and 20% quarter-on-quarter.
The market share in Greater Bangkok improved to 8.7% from 7.6% at the end of 2020.
The firm's first-quarter presales were in line with the overall market in Greater Bangkok which saw year-on-year growth of 32% to 73.92 billion baht, mainly attributed to single detached houses.
However, Pruksa recorded a 4% drop in revenue in the first quarter to 6.88 billion baht from 7.14 billion baht in the same period last year.
Net profit was 606 million baht which decreased 34% from 922 million baht year-on-year and was down by 27% from the fourth quarter last year as it offered discounts and promotions to clear inventory.
Krittavith Lertutsahakul, chief executive officer of Vimut Hospital, a subsidiary of PSH, said the new hospital development plan has been scaled up from clinic to mid-scale hospital as demand for nursing homes and in-patient departments (IPD) was on the rise.
"After we opened the first clinic, Baan Mhor Vimut Clinic, two years ago, we found that customers need healthcare facilities for senior people and IPDs," he said.
The first hospital project, Vimut Nursing, will be located in front of Pruksa Avenue, a large scale low-rise housing project in Sukhapiban 2 area which Pruksa plans to launch.
With an investment of over 150 million baht, it will have a family medicine clinic, rehabilitation clinic, day care, transitional care and bed ridden care with a total of 50 beds.
The payback period will take around eight years with an initial return rate of 13.27%.
"We are also open for a joint venture and renting a land plot to build this scale of hospital," said Mr Krittavith.
Vimut Hospital, a subsidiary of Pruksa Holding Plc, has been scaled up from clinic to mid-scale hospital.
