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Pruksa Real Estate Pcl. August 2011
23/08/541
Urnano Absolute, SathonUrbano Absolute, Sathon
Contents
Section 1 : Company Highlights & AdvantagesSection 1 : Company Highlights & AdvantagesSection 2 : Strategic Planning & Product
S ti 3 I t ti l U d tSection 3 : International Updates
Section 4 : Financial Performance
23/08/5422
Corporate Vision and Goals
“Pruksa is one of the top ten residential real estate companies in Asiafocusing in World Class Quality Management with strong fundamental
Vision and sustainable growth. We maximize customers and employees satisfaction and returns to shareholders and uphold the social responsibilities in all the countries we do business in.”
Goals
Be one of the top ten residential developers in Asia
Generate at least 25% per year revenue growth Goals
Generate at least 18% net margin
Revenue of 100,000 million Baht by 2017
23/08/5433
A Successful Road Map
2010 C dit R ti
2010 Still # 1 in ThailandPresale – THB 38.75 bnR THB 23 4 b
2009 # 1 in ThailandPresale - THB 23 bn
2010 Credit Rating
Upgraded to A by TRIS
Revenue – THB 23.4 bn
Dec 2005
2008Presale - THB 16 bn
Revenue - THB 19 bn 2011 - New PrecastFactory adds another 430 house / mo.
20 April 1993
Registered as a Public Company Limited and listed on SET
2010 Launched Internationnal booking in Maldive, India
0 p 993Pruksa Real Estate founded by K.Thongma
2006 Implement SBU strategy in organization
2007First condominium transferring
2004
23/08/544
2004Built “Precast Concrete Factory” a newconstruction technology in Thailand – 260 houses / mo.
No. 1 Thailand Residential Developern
Proven right and unique business model providing competitive advantages Being both builder and developer, we control costs, time, qualified material with no
d P
rodu
ctio
n
mark-up paid to main contractors. Not only leader in civil engineering but also regional recognition gainer for its best
architecture hi-rise Condo in Asia
istin
guis
hed
Wide product coverage (house type, design, price) Short Construction time for low-rise. Business cycle competitive advantage
111 days in 2008 / 91 days in 2009 / ~ 115 days in 2010 / 145 days in 2Q’11
Dth
High Gross margin of 38 % in 2009 – 11 108% Asset Turnover in 2009, 88% in 2010, 68% in 2Q’11
Hig
h G
M,
Fast
gro
wt 08% sset u o e 009, 88% 0 0, 68% Q
Strong growth in asset, more than triple from 2007 to Bt. 41 billion in 2Q’11. Strong Financial Condition during growth as No. 1 Housing revenue since 2009
g St
aff D
ev.
Continuous product Development to meet “Real Demand” Divide PS into Special Business Unit to allow effective “Brand Management” on its own Diversify SBU strategic plan including International business to support long term
23/08/545O
n-go
ing Diversify SBU strategic plan including International business to support long term
growth. Strong team with company’s culture to promote on-going development 5
4 Competitive Strengths11) Unique Business Model) Unique Business Model
Strong Barrier to Entry in THStrong Barrier to Entry in TH
2) Dominant Player in large “Real ) y gDemand” Market Segment
33) Strong Platform and Strategy) Strong Platform and Strategyto capture Growthto capture Growth
44) FAST growth, ) FAST growth, StrongStrong
23/08/546
Financial ConditionFinancial Condition
PS Unique Business ModelPS Unique Business Model
Uniqueness : Right / Mass Production at low cost thus barrier to entry
OrganizationOrganization DeveloperDeveloperCustomer ValueCustomer Value
Product/Project/ServiceProduct/Project/ServiceI t t d D lI t t d D l Organization Organization StructureStructure +Contractor+Contractor
+Manufacturer+Manufacturer
Product/Project/ServiceProduct/Project/Service+Cost Leadership+Cost Leadership+Price Leadership+Price Leadership
EasyEasy To beTo be
Integrated DeveloperIntegrated Developer
(Low Rise+ High Rise)(Low Rise+ High Rise)
Business Business ProcessProcess
Short WorkingShort WorkingCapital requiredCapital required
EasyEasyBusinessBusiness
ExpansionExpansion
BarriersBarriersTo EntryTo Entry
In THIn TH
To beTo beNo.No.11
DeveloperDeveloper
Modern Trade DeveloperModern Trade Developer
(Low Rise : TH, SDH)(Low Rise : TH, SDH)
Catch upCatch upNew LifestyleNew Lifestyle
HighHighWorking CapitalWorking Capital
LongLong--TermTermGrowthGrowth
Portfolio ManagementPortfolio Management
(High Rise : Condominium)(High Rise : Condominium)
CondominiumCondominiumC titi P i i M d lC titi P i i M d l
SingleSingle--Detached HouseDetached HouseCompetitive Pricing ModelCompetitive Pricing Model
Town HouseTown HouseCompetitive Pricing ModelCompetitive Pricing Model
Effective Integration
leads to Penetration Pricing
23/08/547
Competitive Pricing ModelCompetitive Pricing Model&&
Good Customer ValueGood Customer Value
Competitive Pricing ModelCompetitive Pricing Model&&
Good Customer ValueGood Customer Value
Competitive Pricing ModelCompetitive Pricing Model&&
Good Customer ValueGood Customer Value
leads to Penetration Pricing
Possibility with
Competitive Customer Value 7
Special Technology & Mass ProductionSpecial Technology & Mass Production
Being a technology leader and market leader hasBeing a technology leader and market leader has enabled Pruksa to have mass production capability
To reduce production time and number of skilled labour which leads to cost efficiencylabour which leads to cost efficiency
To produce consistent and high quality products
23/08/548
Tunnel System: for TH Construction
23/08/549
Precast Factory & advantages Precise and sustainable quality control
Minimum material and product waste
Shorten production period
Facilitate and speed up erection at site Facilitate and speed up erection at site
Faster handover time to customer
Reduce labour cost
Minimum labor
Less dependence on skilled labor
Continuous production in all season
Flexible product range
Able to control pollution
23/08/5410
All plant summary – Total 690 Units / month
Plant Production Line Output ExpectedCapacity / Month
PCF 1 S i A d H W ll 76 000PCF 1(Carrousel I)
Semi Automated Carrousel System
House Wall 76,000 square metre(gross area) equiv. to
260 house unit
PCF 2(Fence Factory)
Fixed Mould System
House Fence 2,600 cubic metre or equiv.to 1,200 house fence
PCF 3 Fixed Mould Slab & Special 4,800 cubic metre orPCF 3 (Slab & Special Element Factory)
Fixed Mould System
Slab & Special Element for House
4,800 cubic metre or equiv. to 690 house unit
PCF 4(Condo & Façade
Factory)
Fixed Mould System
-Condominium walland Façade
-Townhouse Facade
16,000 square metre or equiv.to 320 units
2,000 square metre orTownhouse Facade 2,000 square metre or eqiv.to 900 house unit
PCF 5(C l II)
Fully automated C l
House Wall 126,000 square metre( ) i
23/08/5411
(Carrousel II) Carrousel System
(gross area) equiv. to 430 house unit
Contents
Section 1 : Company Highlights & AdvantagesSection 1 : Company Highlights & Advantages
Section 2 : Strategic Planning & Product
Section 3 : International Updates
Section 4 : Financial Performance
23/08/541212
PS Business Platform Strategic Direction Original Business Platform until 2008
20102009 2011
Zone C ti I TCBD
PS Brands & Locations New Business
20102009 2011
ZoneSub Urban Connecting In-Town (Near MRT/BTS/Density Area) Upcountry International
Ayutthaya
Per UnitPrice (M฿)
0.5 - 0.7
5-Storey Condo
2-Storey TH
India: India:
BangaloreBangalore
BOI - Condo
Condo: 0.7-1.0 MB
y y
0.7 - 0.9
0.9 – 1.0Khonkaen
Condo
2-Storey TH1.2 – 2.0
MB
2-StoreySemi-DH
Nakornpathom0.7-1.4
MB Maldives:Maldives:HulhumaleHulhumale
0.8–1.5 MB
0.8–1.5 MB
1.0 – 1.4
1.4 – 1.8
1.5 – 3.0MB
MB
Niche marketMixed UsedTH+Semi-DH
2-StoreySDH
Samutsakorn
u u a eu u a e
Condo2-14
2-Storey2 St TH
2.0 - 2.5
1.8 – 2.0
2-Storey SDH
+SDH
Vietnam:
Hai Phong
3 St
Condo
2.0-6.0 MB
2 14 MB.
Storey TH
1.8-3.0 M฿
Chonburi
th
2-3 Storey TH2.0-4.0 M฿
2-Storey TH2.0-3.0
M฿2.5 – 3.0
The Patio
2-Storey SDH : 3 -5.0 MB 2-Storey SDH /New Brand/New Brand
New Business/New Business/SDH 5-10 MB
3 Storey TH
: 3-5 M฿Condo 3-10.0
MB PhuketPhuket
themeCondo 3.0-5.0
MB
3.0 –5.0
5.0 – 10.0
Three Storey TH3 -5.0 MB
Townhouses
BrandBrand SegmentSegment Price (mil. Bt)Price (mil. Bt)LogoLogo
The Plant CitiThe Plant Citi Stylish Middle income Stylish Middle income 22--3 3 Storey Storey 22..0 0 –– 44..0 0 / unit/ unit
Pruksa TownPruksa Town Stylish Middle income Stylish Middle income 2 2 Storey Storey 11..5 5 –– 22..8 8 / unit/ unit
MiddleMiddle--low income low income 11..6 6 –– 22..0 0 / unit/ unit
Low income Low income 11..0 0 -- 11..5 5 / unit/ unit
The ConnectThe Connect
Pruksa VillePruksa Ville
Low income Low income 00..6 6 -- 11..2 2 / unit/ unitBaan PruksaBaan Pruksa
UrbanoUrbano Stylish Middle incomeStylish Middle income 22 StoreyStorey 11 88 –– 22 77 / unit/ unitUrbanoUrbano Stylish Middle income Stylish Middle income 2 2 Storey Storey 11..8 8 –– 22..7 7 / unit/ unit
RenoReno Middle Middle ––low income low income Start @ Start @ 11..4 4 / unit / unit
23/08/54 14SilvanaSilvana (in Bangalore)(in Bangalore) Middle income Middle income Start @ Start @ 22..5 5 / unit / unit
Single Detached Houses
MiddleMiddle--High income High income 22..5 5 –– 1010..0 0 / unit/ unitPassornPassorn
BrandBrand SegmentSegmentLogoLogo Price (mil. Bt)Price (mil. Bt)
gg
MiddleMiddle--low incomelow income 22 00 –– 33 00 / unit/ unitPruksa VillagePruksa Village
The PlantThe Plant Middle income (Stylish SDH) Middle income (Stylish SDH) 33..0 0 –– 66..0 0 / unit/ unit
MiddleMiddle--low income low income 22..0 0 33..0 0 / unit/ unitPruksa VillagePruksa Village
MiddleMiddle--low income low income 11..9 9 –– 33..0 0 / unit/ unitPruksa NaraPruksa Nara
Silvana (in Bangalore)Silvana (in Bangalore) Middle income Middle income Start @ Start @ 33..2 2 / unit/ unit
Pruksa PuriPruksa Puri Middle income Middle income 22..5 5 –– 33..5 5 / unit/ unit
Building process with precast
23/08/5415
CondominiumsBrandBrand SegmentSegment Price (mil. Baht)Price (mil. Baht)LogoLogo
The PlumThe Plum MiddleMiddle--Low income Low income 00..8 8 –– 11..2 2 MBtMBt / unit/ unit
MiddleMiddle--High income High income 11..5 5 -- 1010..0 0 MBtMBt / unit/ unitIVYIVY
The SeedThe Seed Middle income Middle income ((Stylish Condo)Stylish Condo) 11..4 4 –– 77..0 0 MBt / unitMBt / unit
Be youBe you MiddleMiddle--Low income Low income 00..8 8 –– 11..5 5 MBt / unitMBt / unitMiddle Middle --Low incomeLow income 00..8 8 –– 22..2 2 MBt / unitMBt / unitThe TreeThe Tree
Low incomeLow income 00..5 5 -- 00..8 8 MBt / unitMBt / unitCity Ville CondoCity Ville Condo
Urbano CondoUrbano Condo MiddleMiddle--High income High income 22..00–– 14 14 MBtMBt / unit/ unit
ChapterChapter OneOne 00..9 9 –– 22..0 0 MBt / unitMBt / unitMiddle income Middle income
CondoletteCondolette 22..55 –– 77..00 MBt / unitMBt / unitMiddleMiddle--high incomehigh income
624 624 CondoletteCondolette MiddleMiddle--Low incomeLow income 00..8 8 –– 11..0 0 MBt / unitMBt / unitFUSEFUSE MiddleMiddle--High income High income 22..77 –– 88..55 MBt / unitMBt / unit
CondoletteCondolette 22..5 5 77..0 0 MBt / unitMBt / unitMiddleMiddle high income high income
16
gg 22..7 7 88..5 5 MBt / unitMBt / unit
Coral Ville (Maldives)Coral Ville (Maldives) MiddleMiddle--High income High income 33..88–– 44..8 8 MBtMBt / unit/ unit
Strong Team Synergy
CEO Highly Skilled & Experienced ManagementTeam in each Market Segment
Interchangeable Management Team
CBO2 CBO3CBO1
g g
Business Development
TeamLand Acquisitions,Purchasing
SBUConnect
SBUPV1
SBUPKV
SBUPK
SBUPT
SBUCD1
SBUPS
SBUCD2
SBUCD4
SBUSD3
SBUCD3
IB :India
Maldives
IB :VN
COO CFRO CSO
Townhouse Single Detached H. Condo.Condo. SDH IBIB
SupportingT
PRECAST
IT
HRM
Team
R & D
Kaysorn Construction Co.
Budget & Fin. Planning
HRD
BusinessSupport
Treasury
23/08/5417
.IR Business Process
17
Contents
Section 1 : Company Highlights & AdvantagesSection 1 : Company Highlights & Advantages
Section 2 : Strategic Planning & Product
Section 3 : International Updates
Section 4 : Financial Performance
23/08/541818
India Updates
Bangalore- Type: 321 SDH, TH 80, Total 401 units- Project Value ~ Bt. 1,589 m (Rp 2,270 m)
As of Jul’11 the accum booking hits 210 units or ~ Bt 521 m 100% own
- As of Jul 11, the accum. booking hits 210 units or ~ Bt. 521 m - First plot to transfer is scheduled in Q4’11 ~ Bt. 129 m- 2 nd phase of Bt. 800 m will open booking in Q3’11
I Pi l Vill Th 300 itMumbai50% JVwith SOHAM
- In Pimplas Village, Thane 300 units- Type: TH, SDH, Twin houses for middle income - Project Value ~ Bt. 1,500 m on 25 Acres (from total 150 Acres)
1st h t b Q4’11Group of Companies
- 1st phase to open by Q4’11
1923/08/54
Single detached houseDisplay houses
- 70 SDH are under construction - 4 SDH are completed
- 30 Villas are expected to handover in Q4’11.
Bird’s eye view 20
Townhouse Display houses
- 45 TH are under construction.3 TH l t d- 3 TH are completed
- 5 units are expected to handover in Q4’11
21
Maldives updates
MaldivesMaldives- 80% JV with HDC5 t CD i H lh l t t l Bt 3 500- 5 storey CD in Hulhumale totals Bt. 3,500 m.
- 1st phase (9 buildings) ~ Bt. 601 m of which 99% pre-sales - The first 2 buildings to be transferred by Q3’11. 4 buildings by Q4’11 and the rest 3 by Q1’12 - 2nd phase is during study
22
Vietnam updates
VietnamVietnam- PS 85% JV Agreement with Hoang Huy Service Investment Co. 15%
Land purchasing is in process with ~ 95% completion before submitting to Government Land fill is
23
- Land purchasing is in process with ~ 95% completion before submitting to Government . Land fill is in-process.- Condo in Hai Phong. Total Project ~ Bt. 4,700 m or 2,492 units - First phase to open for booking ~ Bt. 500 m by 2H’11
Maldives – Jun’11 Progress
Building C4 Building C5 Building C6
Building Construction : % Progress –
B ildi # 1  100% Al d it i ti b t iti f it
Building C7Building C8
Building C9
Building # 1  = 100% Already unit inspection by customer now waiting for unit ownership transfer Building # 3 & # 4 = 50%
Building # 5-9 = 5 - 40% Overall Progress 30% of 9 Buildings 24
Contents
Section 1 : Company Highlights & Advantagesp y g g g
Section 2 : Strategic Planning & Product
Section 3 : International UpdatesSection 3 : International Updates
Section 4 : Financial Performance
23/08/542525
Dominant in real demand SegmentHighest Unit Market ShareHighest Unit Market Share (houses built by developers)(houses built by developers)
:Market share of Pruksa Real Estate Pcl. January – June 2011
30% 100%23%
16%15%13% 13%
14%14%20%
30%
34%48%
35%42%
71% 66% 76%
60%
80%
100%PS 6,596 / total 28,742 units PS 4,799 / total 6,313 units
13%
0%
10%
20%
40%
0%'05 '06 '07 '08 '09 '10 1H'11 0%
'05 '06 ' 07 ' 08 '09 '10 1H'11
21%17%30%
40%
50%
10%
15%
20%PS 1,183 / total 6,626 units PS 614 / total 15,803 units
18%4%
7%12%9%
0%
10%
20% 3.9%0.2% 2.2%3.2%
1.2%0%
5%
10%
0% '05 '06 '07 '08 '09 '10 1H'11
' 07 ' 08 '09 '10 1H'11
Units of PS's transfer over the new houses registered in BKK. & vicinities from REIC web. Update 10 Aug’11 26
Booking Target India : 2,515 MB.Maldive : 1,030 MB.Vietnam : 1,000 MB.
42,000 MB.
100%
42,000 MB.
100%Growth +8%
I nt e r : 4 , 5 4 5I nt e r : 6 9 922,774 MB.22,774 MB.
38,753 MB.
100%
38,753 MB.
100%
Growth +8%
Growth +551%11%
CD : 12 , 3 4 2 CD : 9 , 4 6 216,188 MB.16,188 MB.
G h 41%
Growth +70% New Presale fromUnsold
24,365 MB.
Growth +551%
23%13,646 MB.13,646 MB.
Growth +19%
Growth +41% 58%Growth -23%
S D H : 8 , 6 7 9CD : 4 , 7 2 3 S DH : 13 , 5 4 3
Growth +56%
32%
S DH : 7 , 2 9 5
CD : 3 , 9 8 6
CD : 3 , 6 7 7
S DH : 5 , 18 4
Half1
6mts-11
A t l P l
Growth +56%
TH : 6 , 0 6 3 TH : 7 , 3 2 7TH : 10 , 7 5 6
TH : 17 , 0 3 4S DH : 3 , 5 9 7 TH : 14 , 4 0 4
,Actual Presale
17,635 MB.
42%Growth -15%
34%
2 0 0 7 2 0 0 8 2 0 0 9 ( Ac t ua l ) 2 0 10 ( Ac t ua l ) 2 0 11 ( Ta r ge t ) 2 0 11 ( Ac t ua l )27
Million Bt.
Quarterly Quarterly Net Booking : 1H’11 Bt. 17.6 bn
699
38,752
35 000
40,000 TH SDH CD International
12,340
22,77530,000
35,000
8,6814,721
41317,63520,000
25,000
17,032
7,300
6,361
2 2054,539 2,924 927 1 506
550149
2,433
104 3088,4659,1708,5798,587
11,432 10,154
10,000
15,000
10,754
4,256 4,637 4,345 3,793 4,359 4,0698,4282,126 2,256 2,335 1,964 3,076 3,286
2,205 2,924 2,672 927 1,506
0
5,000
Tot.'09 Q1'10 Q2'10 Q3'10 Q4'10 2010 Q1'11 Q2'11 1H'11
% Cancellation = (booking & transfer) 2008 28% (9% & 19%) 2009 25% (8% & 17%)
% Booking TH SDH CD Inter2008 46 31 23
23/08/5428
2009 25% (8% & 17%)2010 23% (7% & 18%)
1H’11 31% (6% & 25%)*
2009 47 32 212010 44 22 32 21H’11 48 36 14 2
* If exclude The Tree Kiak Kai 25% (6% & 19%)
Unit Booked and TransferredUnit Booked and Transferred
5,368170
20,86520,000
TH Booking SDH BookingCD Booking Maldives CD India SDH, TH
1 7382,364
2,660
1,3991,572
4 7145 1916 1195 387
12,1009,399
10,000
15,000
6,0898,337
3,316 3,454 3,198 2,667
12,635
2,948 2,799
1,738
680 682 685 911 9701,391 1,983
850 877613
-5
1,144 1561644,714
3,8815,191
4,1686,1195,387
0
5,000
2008 2009 Q1'10 Q2'10 Q3'10 Q4'10 2010 1Q'11 2Q'11
1,28311,24912,849Q4’10 : Low-rise Highest Transfer Ever
1,6681,870
2,416
43
421
1,7288,913
7,0746,568
10,000CD transferSDH transferTH transfer
5,386 56356,824 7,651
9,150
1182 1,396
748 696645
567 616
3
528 187 427227243
285 3,4403,283
2,273
3,9213,372 3,1565,000
29
2,096 2,360 1,7032,991 2,402 2,397
327
02006 2007 2008 2009 Q1'10 Q2'10 Q3'10 Q4' 10 2010 1Q'11 2Q'11
2011 Revenue Target VS Backlog
36,178 36,178
40 000 Non‐contract Inter Condo SDH TH
803
1,111 1,623
29 037
30,671
33,720
35,000
40,000
'Non Contact
‘11 Target revenue 32,000
1H’11 realized 12,128
B kl 1H’11 18 434
8,56517 821
17,719
7,556550
6990
22,644
29,037
25,000
30,000
'2012
'2013Backlog 1H’11 18,434
To sell & transfer more by 2011
1,438
,
12 828
15,248 16,988
17,821
13 01515,202 15,197
17,12920,000*DOMESTIC 8,021 MB
*OVERSEAS 544 MB.
18,434
3 011
4,348 4,2205,832
6,556
7 1457,807
9,038 8,1868,892
12,82811,644
13,015
10,000
15,000'2011
2,976 3,401 3,914 3,876 5,361 6,8058,891 8,764 9,264 10,792
1,523 1,806 2,249 3,1352,876
3,0117,145
0
5,000
*DOMESTIC 17,867 MB
*OVERSEAS 567 MB.
0Q1' 09 Q2 '09 Q3 '09 Q4' 09 Q1'10 Q2' 10 Q3'10 Q4'10 Q1'11 Q2'11 Inc. Year
30
2011 Revenue Target VS Backlog (1H’ 11 by Segmentation)As of Date 30 June 2011.
20,000
MB.DOMESTIC OVERSEAS
13,943(Target =13,040 MB.)
Target 12,292 MB.16,000
18,000
107%
Backlog 7,543 MB New booking
g
12,000
14,000 100%
New booking2,336 MB.
6,059 MB(Target = 4,226 MB.)
8,000
10,000 58%19%
143%
Revenue (H1‐2011) 6 400 MB
Backlog 5,929 MB.
Backlog 4,359 MB.
b ki 1 8
Target 2,442 MB.
4,000
6,000100%
103%
48%
6,400 MB.Revenue (H1‐2011)
4,027 MB. Revenue (H1‐2011) 1,699 MB.
Backlog 567 MB.
New booking 1,875 MB.
0
2,000
40%
49%33%
77%
23%
TH SDH Condo Inter
31
India : 660MB.Maldive : 982 MB.Vietnam : 800 MB.
32,000 MB.
100%
32,000 MB.
100%
Revenue Target 32,000 MB.
100%
32,000 MB.
100%
Inter : 2,442
100%100%Growth +37%
100%100%
Unsold1,438 MB.
CD : 4,22619,033 MB.19,033 MB.
23,407 MB.
100%
23,407 MB.
100%
G th 23%13%
1,438 MB.4%
8%Growth +244%
CD : 3,608
S
13,034 MB.13,034 MB.
9,093 MB.9,093 MB. G th 46%
Growth +23%
Other : 90
Other : 127 SoldSold(Backlog)(Backlog)
1818,,434 434 MB.MB.5858%%
Growth +17%
SDH : 7,723
SDH : 12,292
CD : 3,596
Other : 65
9,093 MB.9,093 MB.
Growth +43%
Growth +46%38%
5858%%
Growth +59%
SDH : 4,969
SDH : 5,528
CD : 43
CD : 563
Other : 386mts-11
A t l P l
TH : 5 149TH : 7,536
TH : 9,820TH : 11,949 TH : 13,040SDH : 3,862
41%
Actual Presale12,128 MB.
38%
Growth +9%TH : 5,149
2007 2008 2009 2010 (Actual) 2011(Target) 2011(Actual)
Growth +9%
32
Total revenue : awaiting for more transfer in 2H’11
Million Bt.
1
3,608
12723,407
20 000
25,000 Other income, landCDSDH 14 % YoY
IVY Thonglor Transf. Bt. 1,040 m
7,723
45 100
12,22910,790
12,61615,000
20,000 TH 14 % YoY
4,566 3,157 4,0281,439
1,7002,169
1 410
45 10082
36 64286,779
5,4505,944
10,00024% QoQ
3,1255,837 6,111
11,948
3,188 3,2136,401
2,189 1,936603 290
2,092
1,4103628
0
5,000
0
Q2'10 1H'10 2H'10 2010 Q1'11 Q2'11 1H'11
SDHTH
CD16%
SDH33%
TH53%
CD14%
23/08/5433
SDH34%
50% 33% 53%
Projects Unit Open m . Bt. Open Location
26 Projects launched in 1Q’ 11Baan Pruksa 40/2 217 203 Jan - 11 Klong Luang , Patum ThaniBaan Pruksa 67 490 679 Jan - 11 Lum Look Ka, Patum ThaniBaan Pruksa 69 236 266 Mar - 11 Bang Bua Thong , NontaburiPruksa Ville 40 - 292 468 Feb - 11 Lak 6, Patum ThaniPr ksa Ville 43 244 415 Feb 11 Bang Kr a Nonthab riPruksa Ville 43 244 415 Feb - 11 Bang Kruay , NonthaburiPruksa Ville 44 405 748 Jan - 11 Samphan, Nankornphathom
Pruksa Ville 47/1 36 69 Feb - 11 Raja BuranaPruksa Ville 49 497 854 Feb - 11 Muang, Samut Prakarn
Pruksa Ville 50/1 466 926 Feb - 11 Sapansoong , p gPruksa Ville 52/1 226 471 Mar - 11 Muang, Phuket
The Reno 129 204 Feb - 11 Beung Goom, Pruksatown Next (Tiwanont – Rama 5) 244 550 Feb - 11 Bang Kruay , Nonthaburi
Pruksatown Next (Praya Suren) 247 554 Feb - 11 Meen Buri, BKKPruksatown Next (Pinklao Puttamonton) 465 865 Feb 11 Samphan NakornphathomPruksatown Next (Pinklao - Puttamonton) 465 865 Feb - 11 Samphan, Nakornphathom
TH: 14 projects 4,194 7,272 Baan Passorn 27 146 310 Feb - 11 Praves, Pra ka nong, BKKBaan Passorn 28 244 800 Jan - 11 Bangplee, Samut Prakan
The Plant 263 1,413 Feb - 11 Bang KaeThe Plant Light 210 1,346 Feb - 11 Muang , Patumthani
The Plant 210 917 Jan - 11 ( Rama 9 - Outer Ring Road 2), Pruksa Village 34 187 858 Mar - 11 Muang Samitsakorn
Pruksa Puri (Kingkaew 37) 247 849 Jan - 11 ( King Kaew 37 ) Bangplee(S )Pruksa Puri (Suwintawong) 189 917 Jan - 11 Meen Buri,
Pruksa Puri (Bangna km. 5) 180 720 Jan - 11 Bangplee, Samut PrakarnSDH: 9 projects 1,876 8,130
IVY AMPIO 322 1,470 Mar - 11 Rajada Huaykwang (True)Plum Condo 690 553 Mar - 11 Beung Goom,
34
Plum Condo 690 553 Mar 11 Beung Goom, CONDOLETTE 486 703 Mar - 11 Ratchada36,Jatujak,
CD : 3 projects 1,498 2,726 Total 26 projects 7,568 18,128
12 Projects launched in 2Q’ 11Projects Rai Unit Open m Bt. Open Location
Baan Pruksa 70 32-2-67.7 380 480 Apr-11 Chalong Krung, LadkrabangPruksa Ville 47/2 29-2-81.3 324 628 Apr-11 Phuttabucha 36
Baan Pruksa 66 30-3-83.9 338 474 May-11Thepkhunchon Rd,
PathumtaniThe Connect 15 32 0 0 356 728 May 11 On NutThe Connect 15 32-0-0 356 728 May-11 On Nut
Pruksa Town (Next) 50-0-99.85 430 994 May-11 Bangplee, SamutprakarnThe Connect 11/2 20-1-3.7 185 478 June-11 Suksawad 26 B P k 72 43 0 93 411 498 J 11 W i A dhBaan Pruksa 72 43-0-93 411 498 June-11 Wangnoi, AyudhayaBaan Pruksa 61 38-2-42.7 395 674 June-11 Petchakasem 63 Baan Pruksa 71 33-3-19 393 499 June-11 Bangkuwat, Pathumthani
On Nut Outer Ring RoadThe Connect 15/1 23-2-14.1 258 544 June-11
On Nut Outer Ring Road, Phrakanong
TH : 10 projects 3,470 5,997
Th Pl t (Ch W tt ) 69 3 4 4 328 1 808 J 11MuaengThong Tani,
N th b iThe Plant (Chang Wattana) 69-3-4.4 328 1,808 June-11 Nonthaburi
Pruksa Village 32 (Lak 6) 45-5-57.7 235 785 June-11 Lak 6 PathumthaniSDH : 2 projects 563 2,645
2Q’11 total 12 projects 4,033 8,5901H’11
Total 38 projects 11,602 26,718 35
78 78 Projects in Projects in 20112011..As of Date 30 June 2011.As of Date 30 June 2011.
Total
Total 78 Projects
Total 76 ProjectsTH, SDH ~ 5- 8 month
Low-rise CD ~ 1.2 – 2 years
Revenue Recognition after booking
Inter : 2Inter : 4
CD 9Inter : 1
Total 72 Projects
Land bought
Low rise CD 1.2 2 years
Hi-rise CD ~ 3 years
CD : 11 CD : 15Inter : 2
SDH : 23
CD : 9
TotalTotal
34 P j t
Total 38 Projects
Total 48 Projects 38 Projects
TH : 19
SDH: 12SDH : 15 SDH : 17
CD : 16 CD 3
Inter : 2
SDH : 23Total 38 Projects
34 ProjectsCD : 6
Inter : 1
TH : 44 TH : 42
SDH : 11SDH : 12 SDH : 14
CD : 6CD : 5
CD : 16 CD : 3
TH : 46
SDH : 11
Launched
TH : 21 TH : 17 TH : 16
TH : 42
TH : 24
38 Projects
2008 2009 2010 Target 2010 2011 (Target) 2011 2011 Plan 2011(Jan – Jun) (land bought)
Units MBt Units MBt Units MBt 142 55 739 121 188 32 084 65 281 23 655 55 907
Active Project No. of Pro jects
Total Project Value Sold Unsold 30-Jun-11
142 55,739 121,188 32,084 65,281 23,655 55,907Bann Pruksa 26 15,240 17,831 9,045 9,572 6,195 8,259 Pruksa Ville 31 10236 16,745 6502 10,440 3734 6,305 The Connect 9 4 045 9 088 1 899 3 860 2 146 5 228The Connect 9 4,045 9,088 1,899 3,860 2,146 5,228 Passorn 8 2,709 10,382 1,392 5,387 1,317 4,995 The Plant 7 1,823 8,082 710 3,327 1,113 4,754 Pruksa Village 17 4650 13,252 2269 6,237 2381 7,015g 17 4650 13,252 2269 6,237 2381 7,015 Pruksa Town 15 4,393 9,286 1,788 3,781 2,605 5,505 Pruksa Puri 3 616 2,486 101 387 515 2,099 IVY 4 942 5,548 619 3,481 323 2,067 , , ,The Tree 3 1073 1,723 1029 1,628 44 95 Plum Condo 1 728 633 627 535 101 98 Urbano 2 804 3,278 613 2,288 191 989 Chapter One 1 1,523 3,241 1,035 2,033 488 1,207 The Seed 6 1952 6,991 1720 5,948 232 1,043 Condolette 4 1,374 3,393 872 2,179 502 1,214 BE YOU 1 374 375 344 344 30 31 FUSE 2 1,776 3,875 1,222 2,744 554 1,131 CORAL VILL(Maldives) 1 1080 3,295 176 591 904 2,704 SILVANA BANGALORESILVANA BANGALORE (India) 1 401 1,686 121 521 280 1,165
37
Financial Performance (by % of total revenue)Financial Performance (by % of total revenue) Type Payer / base Since
Q2’08New PS’s
Diff.QSpecific Business tax
Company on selling price or appraisal value (the higher one)
0.11% 3.3% after28/3/10
3.19%
Transfer Fee Company & home buyer 50 : 50 on appraisal value
0.01% 2% after 31/6/10
1.00%
Mortgage Home buyer (if mortgage loan 0.01% 1% after n/a
8,84610,000 50.00%
Million Baht Percent
Fee granted) on mortgage amount 30/6/10
7,28438.20%39.65%38.27%
37.79%37.96%
6 000
8,000
30 00%
40.00%
4,948
3,4883,62219 03%4,000
6,000
20.00%
30.00%
2,161 2,590
988
2,373
19.03%14.90%18.21% 14.57%13.42%
2,000 10.00%988731
0
'08 '09 '10 Q1'11 Q2'110.00%
3838
Q Q
Gross Margin (m Baht) Net Margin (m Baht) Gross Margin (%) Net Margin (%)
Increased Leverage to finance growing business
Million Baht Times‘11 CAPEX
a) Land acquisition amounting ~ Bt. 10 billion
b) Land dev and construction ~ Bt 18 billion41,250
34,21138,702
1.42 1.640,000
1.8b) Land dev. and construction ~ Bt. 18 billion
c) Subsidiaries (oversea, local) equity : Bt. 650 million
d) Fixed asset of Bt. 394 million
25,356
34,211
22 6991.04
1.181.24
0.86
30,0001.3
d) Fixed asset of Bt. 394 million such as main items
Tower Crane : Bt. 71 millionIT system Bt. 47 millionPrecast Factory Bt. 44 million
15,89418,678
16,29218,871
22,699
18,94816,00315,26313,023
13 1110 450.61
0 36
20,0000.8
5,8486,182
10,110
2,1003,600
13,111 16,6190.45
0.16
0.3610,000 0.3
0'08 '09 '10 Q1'11 Q2'11
-0.2
Asset Liabilities Equity
I t t B i d bt Li biliti E I t t b i d bt E
39
Interest Bearing debt Liabilities : E Interest. bearing debt : E
Turnover ratio is affected from asset growth
%
108%120%
Avg. Asset T / O Avg. ROA Avg. ROE
88%95%
68%80%
100%
60%68%
40%
60%
31%
17%19%
13%8% 10%
26% 25%25%19%
20%
40%
0%
'08 '09 '10 Q1'11 Q2'11
40
Total property development projectsTotal property development projects
34,967
32,55835,000 Land under Dev.
Land House for sale
Million Bt.
11,481
12,597
,
28,083
25 000
30,000
Land,House for sale
Projects developing
Sample houses
3,555
2,045 3,025
9,148
20,000
25,000Construct. Materials
Grand total
18,62315 801
,
1,8642,3152,2481,017
13,37312,789
8,25310 000
15,000
1,8341,355
3634,509
15,80115,904
8,6798,634
1,864,8,253
5,000
10,000
173 344 174 774 9455363633614504084793820
'07 '08 '09 '10 Q1'11 Q2'11
41
Project under DevelopmentProject under Development
18 62320,000 Land Land Dev.
Million Bt.
2 46315,904
18,623
15,80116,000
18,000Construction Infrastructure
Overhead : construction Interest
Projects under dev.
1,6872,193
2,463
12,000
14,000
1 389
8,6798,6348,000
10,000
5 904
12,25610,992
13,092
692
1,996 1,3894,509
4,000
6,000
2,774
5,355 5,904
0
2,000
'07 '08 '09 '10 Q1'11 Q2'11'07 '08 '09 '10 Q1'11 Q2'11
42
Disclaimers : This presentation material has been prepared solely for informational purposes only. Pruksa Real Estate Pcl. (PS) isfurnishing it solely for use by prospective investors / analysts in the proposed event. PS makes no representations or warranties as to the accuracy or completeness of such information. By accepting this material each recipient agrees that PS shall not have any liability for any representations (express or implied) contained in, or for any omissions from this presentation.
The information contained herein does not purport to be all-inclusive or to contain all of the Information that may be material to the recipient’s decision. Each recipient of the information and data contained herein should perform its own independent investigation and analysis of the transaction and the creditworthiness of PS . Reference in this Disclaimer to this shall include references to the Appendices (if any) hereto
23/08/544343
Appendices (if any) hereto.
