Proud Real Estate Public Company Limited, or "PROUD," is a real estate development company focused on creating high-quality projects to enhance a good and sustainable quality of life under the concept "For a Sustainable Well-being - ALL IS WELL."
| 9M25 | 9M24 | 2024 | 2023 |
|---|
| Revenues | 5,014.38 | 2,017.25 | 2,272.09 | 1,536.34 |
| Expenses | 4,656.66 | 1,887.35 | 2,170.92 | 1,345.67 |
| Net Profit (Loss) | 144.75 | 91.68 | 56.62 | 102.26 |
| Assets | 8,493.89 | 9,931.22 | 10,656.55 | 9,998.91 |
| Liabilities | 6,783.33 | 8,330.90 | 9,091.28 | 8,490.27 |
| Shareholders' Equity | 1,710.56 | 1,600.32 | 1,565.26 | 1,508.64 |
| Operating | 2,034.36 | 105.67 | -366.60 | -2,037.99 |
| Investing | -3.84 | -6.09 | -9.99 | -52.42 |
| Financing | -1,741.28 | -516.47 | -5.98 | 2,758.65 |
| EPS (Baht) | 0.15 | 0.09 | 0.06 | 0.12 |
| GP Margin (%) | 22.32 | 20.82 | 20.90 | 34.80 |
| NP Margin (%) | 2.89 | 4.54 | 2.49 | 6.66 |
| D/E Ratio (x) | 3.97 | 5.21 | 5.81 | 5.63 |
| ROE (%) | 6.63 | 2.87 | 3.68 | 8.77 |
| ROA (%) | 3.57 | 0.93 | 0.98 | 2.87 |
PROUD focuses on developing luxury real estate that prioritizes health and well-being under the concept of “ALL IS WELL,” which consists of five core elements:
- WELL-CRAFTED DESIGN: Designed for the well-being and safety of all lives
- WELL-LIVING AMENITIES: Facilities that support everyday living and relaxation
- WELL-CURATED SERVICES: Exclusive services and benefits designed to take care of residents’ homes and enhance their quality of life
- WELL COMMUNITY: A warm, livable community supported by thoughtful project management and engaging long-term activities
- WELL SUSTAINABILITY: Eco-conscious living through design that supports all aspects of a sustainable lifestyle
PROUD prioritizes sustainable development across all dimensions, adhering to the Global Reporting Initiative (GRI) standards framework and aligning with 14 of the United Nations Sustainable Development Goals (SDGs)—namely Goals 1, 2, 3, 4, 5, 7, 8, 9, 10, 11, 12, 13, 16, and 17—under the vision of “A New Definition of a Good Life.” The company is committed to creating residences that go beyond aesthetics and functionality to enhance all aspects of life, including physical health, mental well-being, safety, environmental impact, and community engagement.
PROUD also embraces environmentally friendly design and promotes social participation to build communities that grow together—elevating living from mere "living space" to a truly sustainable way of life rooted in thoughtful living.
PROUD has achieved success as a luxury real estate developer in Thailand with the InterContinental Residences Hua Hin project, one of only eight Branded Residences worldwide developed under the InterContinental brand. The company continues its success by developing both high-rise and low-rise projects in prime locations in Bangkok and tourist destinations such as Hua Hin and Phuket. PROUD maintains a clear position as a real estate developer focused on "quality of life and well-being" under the concept “ALL IS WELL” and is committed to raising project standards through Fitwel and LEED certifications — emphasizing care for residents' health and long-term environmental sustainability.
• For the 9-Month Period Ended 30 September 2025, the Company reported revenue from real estate sales of Baht 5,004.79 million, an increase of Baht 3,003.61 million or 153.90% compared to the same period of the previous year.
• The Company's cost of real estate sales amounted to Baht 3,887.56 million, an increase of Baht 2,326.73 million or 149.07% compared to the same period of the previous year, which is consistent with the increase in revenue from real estate sales. Consequently, the Company's gross profit for the first 9 months was Baht 1,117.23 million, representing a gross profit margin of 22.32%.
• The Company reported a net profit of Baht 144.75 million, an increase of Baht 53.07 million or 57.90% compared to the same period of the previous year. This increase in profit reflects the planned transfers of ownership, despite higher financial costs due to the commencement of ownership transfers for projects, as well as the recognition of deferred income tax, which is an accounting item that does not directly impact operating cash flow. Nevertheless, the Company remains confident in its strong growth trajectory, driven by continuously improving performance and positive responses from all ongoing sales projects, both from Thai and international customers.
In Q3 2025, the "Nue Cross Khu Khot Station" project has completed 100% ownership transfer in this quarter, resulting in the company recognizing revenue for the entire project from the ownership transfer.
The company emphasizes systematic and effective risk management using the COSO framework to address all dimensions, including ESG risks, supporting sustainable operations. Its risk policy sets clear guidelines for assessing and managing risks, while also identifying opportunities to enhance competitiveness and growth. A Risk Management Committee defines the company’s risk appetite and oversees implementation across all departments. Risk management covers both internal and external factors, with a focus on impact mitigation and the use of technology for ongoing monitoring and timely adjustments.
• Fitwel Certification – for all condominium projects: InterContinental Residences Hua Hin, VEHHA Hua Hin, and ROMM Convent.
• Residential High-Rise Development and Residential High-Rise Architecture Thailand – Asia Pacific Property Awards 2025, for ROMM Convent.
• Asia’s Best Residential Interior Design – Asia Architecture Design Awards 2024, for VI Ari.
• Best Wellness Residence Development – PropertyGuru Thailand Property Awards 2024, for ROMM Convent.
• Best Condo Development (Hua Hin) – PropertyGuru Thailand Property Awards 2022, for VEHHA Hua Hin.
| as of 30/09/25 | PROUD | PROP | SET |
|---|---|---|---|
| P/E (X) | 17.44 | 13.10 | 16.67 |
| P/BV (X) | 0.61 | 0.80 | 1.21 |
| Dividend yield (%) | - | 4.90 | 3.67 |
| 30/09/25 | 30/12/24 | 28/12/23 | |
|---|---|---|---|
| Market Cap (MB) | 1,003.23 | 1,237.00 | 1,529.20 |
| Price (B/Share) | 1.03 | 1.27 | 1.57 |
| P/E (X) | 17.44 | 27.35 | 4.83 |
| P/BV (X) | 0.61 | 0.77 | 0.98 |
