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."
| 2025 | 2024 | 2023 | 2022 |
|---|
| Revenues | 6,409.55 | 2,272.09 | 1,536.34 | 2,110.29 |
| Expenses | 5,969.27 | 2,170.92 | 1,345.67 | 1,737.28 |
| Net Profit (Loss) | 167.83 | 56.62 | 102.26 | 228.52 |
| Assets | 7,490.65 | 10,656.55 | 9,998.91 | 3,270.06 |
| Liabilities | 5,757.82 | 9,091.28 | 8,490.27 | 2,445.63 |
| Shareholders' Equity | 1,732.83 | 1,565.26 | 1,508.64 | 824.43 |
| Operating | 1,931.02 | -366.60 | -2,037.99 | 815.59 |
| Investing | -27.03 | -9.99 | -52.42 | -38.48 |
| Financing | -1,934.64 | -5.98 | 2,758.65 | -866.52 |
| EPS (Baht) | 0.17 | 0.06 | 0.12 | 0.36 |
| GP Margin (%) | 21.81 | 20.90 | 34.80 | 36.42 |
| NP Margin (%) | 2.62 | 2.49 | 6.66 | 10.83 |
| D/E Ratio (x) | 3.32 | 5.81 | 5.63 | 2.97 |
| ROE (%) | 10.18 | 3.68 | 8.77 | 32.18 |
| ROA (%) | 4.85 | 0.98 | 2.87 | 10.28 |
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 reinforces its position as a leading luxury real estate developer in Thailand through the launch of InterContinental Residences Hua Hin and The Residences at InterContinental Phuket Resort in 2025, making it the only Thai developer managing two InterContinental residential projects concurrently.
- The Company continues to expand its portfolio across Bangkok, Hua Hin, and Phuket, while introducing “VARAN,” a single-detached housing project under the Sanctuary of Well-being concept, designed to promote quality living and long-term sustainability with Fitwel and LEED certifications.
- In 2025, the Company recorded revenue from real estate sales of THB 6,367.17 million, representing an increase of THB 4,145.92 million, or 186.65% YoY. This strong growth was primarily driven by the continued transfer of ownership from key projects throughout the year, including Nue District R9, VEHHA Hua Hin, VI Ari, and Nue Cross Khu Khot Station. As a result, the Company achieved its highest total revenue on record.
- Cost of real estate sales totaled THB 4,978.25 million, increasing by THB 3,221.26 million, or 183.34% YoY, in line with the growth in revenue from property transfers. Consequently, the Company reported a gross profit of THB 1,388.92 million, representing a gross profit margin of 21.81%.
- For 2025, the Company reported a net profit of THB 167.83 million, up THB 111.21 million or 196.41% YoY, driven by successful project deliveries in line with the business plan and effective cost and expense management, resulting in significantly improved profitability despite economic uncertainties and elevated financing costs.
In 2025, the Company successfully delivered and transferred ownership of several key projects on a continuous basis, including Nue District R9, VEHHA Hua Hin, and VI Ari, while also achieving 100% ownership transfer of the Nue Cross Khu Khot Station project. These milestones significantly strengthened the Company’s operating performance and enabled it to achieve record-high total revenue.
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.
• SET ESG Rating of “A” for 2025 by SET.
• 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 30/12/25 | PROUD | PROP | SET |
|---|---|---|---|
| P/E (X) | 7.81 | 12.87 | 15.44 |
| P/BV (X) | 0.50 | 0.74 | 1.19 |
| Dividend yield (%) | - | 5.14 | 3.71 |
| 30/12/25 | 30/12/24 | 28/12/23 | |
|---|---|---|---|
| Market Cap (MB) | 857.13 | 1,237.00 | 1,529.20 |
| Price (B/Share) | 0.88 | 1.27 | 1.57 |
| P/E (X) | 7.81 | 27.35 | 4.83 |
| P/BV (X) | 0.50 | 0.77 | 0.98 |
