SET-listed developer Pruksa Holding has revised its business strategy to integrate residential development with healthcare and e-commerce, aiming to increase the revenue proportion from recurring income to 25% by 2028, more than triple the current figure.
Chief executive Uten Lohachitpitaks said the healthcare business under Vimut Hospital Holding would help generate recurring income, complementing the residential development business under Pruksa Real Estate Co.
"We will support the healthcare business with an investment totalling 17 billion baht, aiming for synergy with residential development, which is our core business," he said.
"Our aim is to have 100,000 beds in hospitals and remote healthcare at home through a health-to-home platform."
Under the concept of "live well, stay well", healthcare services will be provided to its housing customers through the Vimut application.
Pruksa's new affiliate Synergy Growth Co is slated to operate a digital platform, adding four businesses to synergise with the residential business. One is called Myhaus, an all-in-one smart home.
The others are: Zdecor, a home designer marketplace; Clickzy.com, a hyper-localised marketplace platform aligned with Pruksa Real Estate, Vimut Hospital and other partners; and Pundai, which will invest in affiliate tools to assist all online activities.
"This year recurring income business will account for 7% of total revenue and we expect to increase to 25% in 2028, then more than half in the long term," said Mr Uten.
Recurring income is generated by the precast business after Pruksa transferred its precast manufacturing to General Engineering Plc through a share swap.
It also invested in the logistics segment through CapitaLand SEA Logistics Fund, a joint venture with Taiwan-based Ally Logistic Property and CapitaLand Investment, a subsidiary of Singapore's real estate investment group CapitaLand.
"Potential locations for our first logistics business are in eastern provinces and Ayutthaya," he said.
"Profit sharing from logistics will start next year."
By 2028, the company wants to increase total assets to 100 billion baht from the current 60 billion, with digital and healthcare assets being the key drivers.
