Housing developer Pruksa Real Estate, a subsidiary of SET-listed Pruksa Holding Plc, is shifting from a sales-driven approach to becoming a “thinking company” with a primary goal of creating sustainable growth.
Piya Prayong, chief executive of Pruksa Real Estate, said driving sales to reach 100 billion baht is no longer the goal because such an accomplishment requires a massive amount of project launches, resulting in a bloated company structure.
QUANTITY OVER QUALITY
“To achieve the old targets, we expanded by adding so many projects,” he said.
“But speedy expansion resulted in many devalued assets. That likely leads to growth without quality.”
The peak of such expansion happened in 2016 when Pruksa opened 69 new projects worth a combined 59.7 billion…
