Pruksa Real Estate Public Company Limited was founded on April 20, 1993 with the initial registered capital of Bt50.0m. It concentrates on developing projects for townhouses, single-detached houses and condominiums in Bangkok, vicinity areas and some provinces. The expansion includes overseas investment such India. On April 27, 2005 the Company converted itself into a public company. Later on December 6, 2005 it started trading on the Stock Exchange of Thailand (SET) under the ticker "PS".
The Company has continuous growth and numerous brands development to serve the needs of diverse segments as below:
Single Detached house
|Patio||The Palm||The Reserve|
|Pruksa Ville||The Plant||Urbano|
|Baan Pruksa||Natura||Chapter One|
|Silvana (India project)||The Tree|
The Company is the 1st developer in Thailand who implemented the construction technology for residential and construction management. The Company is able to control the construction as plan and efficient management of cost control. Over 22 years, the Company has continuously improved technology and construction innovation to deliver the quality product and service excellence to the customer.
Major Developments during the past 5 years
- At the end of 2010, PCF4 and PCF5 have started its operation and were fully utilized by mid of 2011.
- The Company newly launched the following brands
- Townhouse: "Villette", "The Reno" and "Patio" to serve middle-to-high home buyers.
- Single Detached House : "Natura" and "Pruksa Puri" to serve middle-to-high home buyers.
- Condominium: "Plum" to serve middle-to-low income.
- New projects are expanded to other provinces such as Phuket ("Pruksa Ville") and Khonkaen (Single Detached House/Duplex houses, under the brand of "Pruksa Nara".)
- In Bangalore, the Company transferred its very first low-rise unit from project "Pruksa Silvana" (401 Units) in December 2011. The total accumulated booking since 2011 reached Bt469m.
- In Maldives, the Company started to transfer condominium units in its first 2 building from 9 buildings from "Coral Ville" project on Hulumale, Maldives.
- In November 2011, Bangkok suburbs and its vicinity suffered from severe floods, which resulted in increased cancellation of booking and transfers. However, the Company still recorded the highest ownership transfer of Bt23,231m, which was the highest amongst the industry. In addition, the Company's presale of Bt25,554m ranked the second highest in its history. Due to the well-prepared flood protection plan, there was no flood in the areas of the main factories, PCF1 and PCF5, but the area around the factories was flooded. As a result, the factories were temporarily closed for 40 days. The production was resumed in December 2011.
- The Company has implemented a new construction technology called "Real Estate Manufacturing (REM)" in order to reduce not only dependence on labor and working hours but increase in productivity and quality. REM process is similar to car manufacturing process. During construction period, a contractor is assigned and responsible for only a job in which he is skilled. With this method, the average construction time of low rise project has been reduced from 45 days to 21 days.
- Due to 2011 floods, the Company set necessary procedures, which help reduce risks and prepare for future floods, for every launched project such as soil modification at construction sites (low plains, slopping land, etc.), landfill at either main road level or past flooding level, improvement of drainage system and flood protection system of projects.
- On September 21, 2012 the Company issued and offered two tranches of debentures for sale with the total value of Bt5,000m. The first tranche is worth Bt3,000m with three and a half-year maturity and the second tranche is worth Bt2,000m with five-year maturity. The redemption is due in 2016 and 2017, respectively.
- The Company announced a new vision "With building valuable dwellings for each family to perceive happiness, family warmth, and have a better daily life, Pruksa is determined to be ranked number one brand in customers' minds for residential real estate business, and become one of the top ten real estate brands in Asia. Besides, reorganization was done in response to customers' needs of each segment and each level. Managements' responsibilities are divided into housing market segmentation with a focus on innovative construction, good quality houses, excellent service, and flexible management by being in line with a regular change in competitive real estate market. The company achieved the highest record of presales, ownership transfers and transferred units.
- Prefabricated bathroom has been developed for a condominium project (starting the installation in 2014). As a result, beautiful models with higher quality are offered. In addition, after-use problems, labor shortage problem, and unskilled worker problem will be lowered and be able to transfer the new units faster.
- Fully Precast system, developed for constructing an eight-storey condominium project (low rise), is Pruksa's strong point which has not only reduced the business cycle time but has also solved labor shortage and work quality at the sites from using prefabricated materials. This technology developed from the company's expertise in townhouse and single-detached house construction and process of integrating REM system with new construction technology. Moreover, Asian Institute of Technology (AIT) jointly analyzed earthquake-resistance of that structure.
- Building Information Management (BIM), which is officially known as Building Information Modeling, has improved three-dimensional construction drawing. BIM has also helped to reduce the conflicting drawing during the construction process. To aid the estimation of material quantities and to reduce the number of steps in working process, the computerized calculation system is used.
- In order to support the Company's growth set in the business plan, the Company invested Bt2,300m to purchase 130 Rais at Navanakorn Industrial Estate in Pathum Thani province for construct another two Precast Concrete Factories (PCF6 and PCF7). PCF6 is Fully Automated Carousel System Plant with the highest capacity of producing bearing wall in Thailand controlled every manufacturing process as follows:
- Shuttering and block out robot
- Automated mesh plant with mesh storage and handling system
- Automatic concrete pavers
- Automatic concrete polishing machine
- De shuttering robot
- Finished goods automatic storage
- On May 15, 2013 the Company issued and offered two tranches of debentures for sale with the total value of Bt6,000m. The first tranche is worth Bt3,000m with three year and one month maturity and the second tranche is worth Bt3,000m with five-year maturity. The redemption is due in 2016 and 2018, respectively.
- The "I-Inspection II" program is initially launched in the town-house project under the brand of "Pruksa Ville" in February in order to increase the effectiveness of home-delivery inspection for the customers through tablet instrument. The delivery of home has become faster and satisfactory. Thus, the use of such program has been expanded to other brands within the Company.
- The customer-base expansion strategy is applied to other segments to encompass wider scope. In March, a premium single detached house project was launched under the brand "The Palm" on Pattanakarn Road, at price range between of Bt9-25m per unit. Precast has been used at the premium house level and is well accepted by the customers. The first phase was sold out within a short period of time.
- Cost management has become more effective. The use of Pruksa Precast Technology and Pruksa REM (Real Estate Manufacturing) has well contributed in cost control, business cycle time and defect from construction reduction. The business cycle time for low-rise housing is reduced from 146 days to 87 days. Transferred date and asset turnover has achieved as the company target. Besides, the Company is more cost-worthy than peers in same market with 10-15% higher pricing.
- The company has used prefabricated bathroom in condominium projects such as Plum Condo in Bangyai and Plum Condo in Rama 2. The use of precast bathroom for low-rise projects is also under the company study. This can help in shortening the construction time with better-quality bathroom.
- At two Pruksa Precast Factories (PCF6 and PCF7) in Navanakorn, the production in some part has been launched since September 2014. The production capacity is approximately 480 housing units per month. Plus with another 5 factories in Lamlookka, the production capacity of which is 640 housing units per month. The Company then has total production capacity of 1,120 housing units per month. This is in line with the new launch projects and the plan of quality houses transfer to customers which increases every years.
- On January 31, 2014 the Company issued and offered one tranche of debenture for sale with the total
- On September 17, 2014 the Company issued and offered two tranches of debentures for sale with the total value of Bt4,000m, with two year and nine month maturity and three-year and six month maturity. The redemption is due in 2017 and 2018, respectively.
- The Company has started its slogan of "Create Value for Customer" to reflect the encouragement of Pruksa value by innovative creative. PS core business is "Creative thinking" behind the value product and service. The Company continuously develops its innovation and was accepted by customers. The Company ranks as the number one in Real Estate business as "Innovative creativity" from BrandAge Magazine and Company Magazine from research "Thailand's Most Admired Company 2015".
- The Company has planned to expand its customer by focusing on outstanding of homes model to support the higher land prices and the development of the 3 storey Single Detached House brand "The Plant Elite" on Pattanakarn road with starting price Bt9.7m.
- May 13, 2015, the Company issued and offered two tranches of debentures for sale with the total value of Bt3,000m with three year and six month maturity and five year maturity. The redemption is due in 2018 and 2020, respectively.
- October 2015, the company paid dividend for 6 months (1 Jan 2015 – 30 June 2015) of Bt0.50 per share.