Pruksa Holding demonstrates exceptional strategic agility amid market volatility, reflecting the tangible success of its 2025 Reshaping Portfolio strategy. By repositioning its portfolio toward the mid-to-upper segment, streamlining non-core businesses, and enhancing project quality in alignment with purchasing power, the Company successfully maintained a high gross profit margin (GPM) of 33.3% on total revenue of 14,983 million baht despite challenging market conditions. This underscores the effectiveness of its portfolio management and financial discipline. Looking ahead to 2026, the Company is set to move forward under a new strategic framework, “Assets-Optimized, Capital-Efficient, Well Living-Focused.” The strategy aims to unlock asset value to generate long-term income, uphold disciplined capital management, and elevate brand value through integrated health and comprehensive service partnerships. For 2026, Pruksa Holding targets total revenue of 18,800 million baht. The real estate business plans to launch seven new projects with a combined value of 8,200 million baht, targeting 15,000 million baht in revenue. Meanwhile, the ViMUT Healthcare Group will continue executing its excellence-driven strategy, setting a revenue target of 2,600 million baht.
Miss Pattama Piyamaneeporn, Deputy Group Chief Executive Office of Pruksa Holding Public Company Limited, stated that 2025 marked a year of achievement for Pruksa Holding, delivering concrete results from its Reshaping Portfolio strategy. The Company has focused on restructuring its business portfolio, prioritizing core operations, and increasing the proportion of projects in the mid-to-upper segment, while reducing investments in non-core businesses. As a result, the Company maintained a gross profit margin of 33.3%, an improvement from the previous year, on total revenue of 14,983 million baht, despite operating in a challenging market environment.
At the same time, the Company maintained a strong financial structure, with a net gearing ratio of only 0.28 times and a backlog exceeding 3,000 million baht. Through its strategy of focusing on core businesses and scaling back investments in non-related ventures, the Company was able to generate a net profit from normal operations of 247 million baht, despite challenging market conditions marked by slowing purchasing power and intense price competition—particularly in the lower-to-mid residential segment, which has been directly impacted by stricter mortgage approval criteria imposed by financial institutions.
“In 2026, we have set a total revenue target of 18,800 million baht, comprising 15,000 million baht from the real estate business and 2,600 million baht from the healthcare business. We have also allocated an investment budget of 4,400 million baht to support business expansion. This year, we will continue advancing our Reshaping Portfolio strategy, focusing on three core pillars: ‘Assets-Optimized, Capital-Efficient, Well Living-Focused.’ These pillars aim to enhance asset utilization efficiency, sharpen our investment portfolio to maintain financial flexibility, and strengthen our brand advantage by systematically integrating our residential and healthcare businesses. Pruksa’s key competitive strength lies in being the only property developer with an affiliated hospital business. This enables us to differentiate ourselves by seamlessly connecting ‘home’ and ‘healthcare’ in a comprehensive ecosystem, driving quality and sustainable long-term growth under a clear and resilient strategic direction,” Ms. Pattama concluded.
Under the first strategic dimension, “Assets- Optimized, Recurring-Built,” the Company is proactively advancing initiatives to increase the proportion of recurring income through the effective management of its land portfolio valued at over 12,800 million baht. This strategy focuses on transforming assets into sustainable revenue streams through residential project development and new rental-based income models, including healthcare-related properties, apartments, hybrid residences, and warehouse developments. At the same time, the Company has established a roadmap to accelerate project development and ownership transfers, targeting the completion of a total of 22 projects. This initiative is designed to enhance cost management efficiency while systematically reducing inventory carrying costs. Regarding progress in the warehouse business, the “Omega Bangna Logistics Campus,” a smart warehouse development spanning more than 217,000 square meters and recognized as one of the largest logistics facilities in Southeast Asia, is being developed in collaboration with global partners to support logistics capabilities and distribution networks aligned with the evolving modern economy. The Company expects to begin recognizing revenue in the third quarter, supported by strong confidence from major logistics and e-commerce partners, with space reservations projected to exceed 60%. Concurrently, the Company has leveraged land assets within its existing portfolio through Land Value Utilization, while increasing the proportion of mid-to-upper segment housing to strengthen cash flow circulation and efficiently support future business expansion.
Under the “Capital-Efficient, Growth-Enabled” dimension, the Company places top priority on liquidity and cash flow management. The Pruksa Group is accelerating debt repayment, targeting a reduction of its net gearing ratio to below 0.3 times by the end of 2026. This will be pursued alongside the expansion of credit facilities and the procurement of project financing at lower costs to enhance liquidity and reduce financial costs to below 3.5%. The Company is also reducing inventor, expediting revenue recognition from ready-to-move-in houses and condominiums by 3–6 months, and increasing income from additional channels to strengthen operating cash flow and reinforce its financial position in support of future growth.
Meanwhile, under the final strategic dimension, “Well Living-Focused, Brand-Strengthened,” the Company continues to expand new project development in the mid-to-upper segment while concretely integrating wellness concepts into residential living. This includes the launch of the Family Doctor service—marking the first time in Thailand that a property developer has incorporated a “family physician” model as an integral part of the residential living experience.
The Family Doctor initiative reflects Pruksa’s significant transition from a “Home Builder” to a “Creator of Well-Living.” Under this model, physicians provide holistic and continuous healthcare for residents, gaining deep insight into each family’s medical history while offering personalized wellness consultations and tailored health planning, particularly for mid-to-upper segment projects. This is complemented by Well Care @Home, which delivers home visits for preliminary health check-ups and consultations within the project premises, as well as Telemedicine services that seamlessly integrate healthcare access into residential living. Exclusive healthcare privileges further enhance peace of mind and elevate the quality of life for Pruksa residents across all segments. This service is made possible through collaboration between Pruksa Real Estate and ViMUT Hospital, reinforcing Pruksa’s position as the first and only property developer with an affiliated hospital business, enabling the seamless integration of “Home” and “Healthcare” within a comprehensive ecosystem. Guided by the concept of “Lifetime Well-Living” the initiative aims to raise residential living standards and create long-term value.
The strategic direction for 2026 represents a pivotal shift from “growth through portfolio expansion” to “quality-driven growth,” achieved through maximizing cost and asset efficiency. The Company is focused on increasing recurring income while maintaining disciplined financial cost management, and differentiating its offerings through integrated healthcare services. This approach is designed to enhance long-term revenue stability and strengthen the Group’s profitability for sustainable growth.
Mr. Dhira Thongwilai, Chief Executive Officer of Pruksa Real Estate Company Limited, further stated that in 2025, Pruksa Real Estate launched a total of 14 new projects with a combined value of 13,300 million baht, achieving presales of 11,050 million baht and transfers totaling 11,500 million baht. The Company also maintained ready-to-sell inventory valued at more than 66,400 million baht. In addition, 2025 marked a year of portfolio restructuring for Pruksa Real Estate, with approximately 45% of new projects positioned in the premium segment (priced above 7 million baht), while mid-range products priced between 3–5 million baht accounted for 42%, and 13% were projects priced below 3 million baht. This adjustment was aimed at increasing supply in segments with strong market demand while continuously phasing out slower-selling projects.
“Although the overall housing market continues to face pressure from weakened purchasing power and intense price competition—particularly in the mid-to-lower single-detached housing segment—we have been able to manage costs effectively through zoning strategies, the closure of older projects, and adjustments to product design and production costs to better align with pricing and demand in each location. In addition, the acceleration of condominium transfers toward the end of the year contributed to improved profit margins,” Mr. Dhira added.
For 2026, Pruksa Real Estate will focus on accelerating the sell-through of ready-to-move inventory, maintaining strict cost control, and strengthening cash flow management. The Company will also boost sales through online channels and its existing customer base, which has strong confidence in the brand. Agent channels will be expanded by 10%, with particular emphasis on foreign buyers, including Chinese, Myanmar, and Taiwanese customers. Competitive pricing strategies will be implemented alongside promotional campaigns and financial support programs for customers. These include the Pruksa Pass program, which allows customers to sign a contract and make direct installment payments to the project for up to one year while being able to move in immediately. Additional programs are also planned to assist customers who aspire to own a home but face mortgage constraints.
Regarding new project launches in 2026, the Company plans to introduce seven new projects, strategically positioned as Brand Champions to reinforce market leadership, with a combined value of 8,200 million baht, targeting presales of 16,500 million baht and revenue of 15,000 million baht (excluding contributions from joint venture projects). Highlight projects include The Reserve Villa Sukhumvit 89/1, a luxury development priced from 50 million baht and above; The Palm Courtyard Bangna KM.8, featuring a new home design concept that integrates a “courtyard” to harmoniously connect indoor living spaces with nature; and The Palm Vibhavadi 64, offering three-story single-detached and semi-detached homes in a Modern Tropical style, limited to only 19 families, with land sizes ranging from 42.1 to 66.2 square wah. In addition, the Company plans to launch its first condominium designed specifically for pet parents at Chapter One Ratchada 19.
Nipat Kulabkaw, M.D., CEO of ViMUT Hospital Holding Company Limited, added that the ViMUT hospital network continued to achieve steady growth in 2025, generating total revenue of 2,243 million baht, representing a 3% increase from the previous year, with operating profit (EBITDA) reaching 232 million baht—doubling year-on-year. ViMUT Hospital Phaholyothin began delivering quarterly profits exceeding 12 million baht, and in December 2025 recorded its highest gross profit margin since the hospital’s establishment. This performance was driven by the expansion of specialized medical services in key areas, including pulmonary health, cardiovascular care, and orthopedics, as well as growth in insured patients, corporate clients, and international patients. Notably, foreign patient numbers increased significantly from Myanmar (tenfold growth), the Arab region (twofold growth), as well as from China and Africa during the last December. Meanwhile, ViMUT-Theptarin Hospital, in addition to maintaining its leadership in the prevention and treatment of diabetes, thyroid, and endocrine disorders, successfully generated additional revenue through the promotion of health check-up centers and the enhancement of preventive healthcare services for surrounding large corporations and Pruksa residents, improving accessibility to healthcare services.
In 2026, the ViMUT Group has set a revenue target of 2,600 million baht, representing a growth of 16%, driven by three key strategic pillars. First, Product Strategy: building on the success of expanded core medical services in the past year, ViMUT Hospital Phaholyothin plans to further develop gastrointestinal and liver care, as well as neurology and brain services, alongside comprehensive women’s healthcare campaigns covering both health and aesthetic wellness. Meanwhile, ViMUT-Theptarin Hospital will focus on lifestyle centers promoting preventive healthcare, trauma services, and gastrointestinal and liver centers. Second, Marketing Strategy: the Group aims to expand its customer base through insurance channels, corporate clients, expatriates residing in Thailand, and strengthened patient referral networks. Third, Operational Strategy: the Group will elevate operations toward international standards through Operational Excellence by enhancing patient experience to be more convenient and efficient via Telemedicine, digital systems, and redesigned workflows that reduce redundant processes. At the same time, the Group will strengthen Global Credibility by expanding direct-to-patient communication channels (D2P), building physician-to-physician collaboration networks (D2D), increasing the number of complex medical cases, and reinforcing community engagement to enhance brand image and long-term trust.
“2025 marked a significant milestone in rebalancing and strengthening our business foundation in preparation for 2026, which will be a year of unlocking asset potential and systematically generating recurring income under a stable financial structure and strong liquidity position. Through clear brand-building strategies alongside the expansion of revenue streams from both real estate and healthcare businesses, we remain committed to advancing our vision of Lifetime Well-Living toward a Holistic Health Experience that encompasses every dimension of life, driving sustainable long-term organizational growth,” Ms. Pattama concluded.
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