Mr. Pasu Liptapanlop, Executive Director of Proud Real Estate Public Company Limited (PROUD), announced that the company's revenue for Q3 2024 amounted to THB 232 million, up 75% from the same period last year, which recorded THB 132 million. Net profit for the quarter stood at THB 3 million, up 76% from 2 million baht in the same period last year.

For the nine-month period ending in 2024, total revenue reached 2,015 million baht, marking a 52% increase from the 1,324 million baht in the same period last year. Net profit for the period was 92 million baht.

The company's overall growth is primarily attributed to the recognition of revenue from the transfer of ownership for the Nue Cross Khu Khot Station project, which the company acquired in 2023 and started recognizing revenue from in the last quarter of 2023. By the end of Q3 2024, ownership transfer reached over 88%, totaling 1,870 million baht, with 1,077 units transferred—a rate faster than initially anticipated.

Moreover, ongoing projects have received strong responses, thanks to strategic development that meets the needs of both Thai and foreign customers seeking quality residences in prime locations. This has strengthened the company’s confidence in its ability to maintain consistent growth moving forward.

As of the end of October 2024, ongoing projects have achieved successful booking rates in line with their respective plans. The VEHHA Hua Hin project has secured bookings for 65% of its value, ROMM Convent at 62%, VI Ari at 33%, and Nue District R9 at an impressive 97%. VEHHA Hua Hin and Nue District R9—with a combined value of over THB 8.9 billion—are expected to recognize revenue throughout 2025, while ROMM Convent, valued at THB 4.15 billion, will recognize revenue in 2026.

As of September 30, 2024, the company’s sales backlog stood at THB 10.9 billion, which will be recognized gradually until 2026, providing strong assurance for the company’s long-term growth. Additionally, the company is preparing to launch new projects valued at THB 9.2 billion in the near future, reflecting a robust and continuous growth trajectory.

"The strong performance this quarter reflects the success of our development strategies in meeting customer demands, as well as our expansion through acquiring high-potential projects from strategic partners, allowing us to maintain consistent growth. Demand for luxury residences remains strong, which contrasts with the slowing mid- to lower-tier property market. Moreover, the recovery of the tourism sector has bolstered foreign buying power, both for residential purposes and investments, which have seen a clear upward trend," Mr. Pasu stated.

Those interested in details about Proud Real Estate’s houses and condominiums in Bangkok and Hua Hin, along with special year-end promotions, can find more information at https://bit.ly/ProudQ32024 or contact 02-026-8999.