PROUD Reports 314% Profit Jump in Q2 on Project Transfers
PROUD's Q2 net profit surged 314% to 106 million baht, driven by handovers of its Ramya Convent residential project and improved cost management that pushed profit margins to 6.2%.
PROUD reported Q2 2025 revenue of 1,729 million baht with net profit of 106 million baht, a 314% increase from 25 million baht in the same quarter last year. First-half 2025 revenue totaled 2,994 million baht with net profit of 161 million baht, up 78% from 90 million baht in the prior-year period.
The growth was driven by handovers of the Ramya Convent project, which began in May 2025, alongside continued transfers of the Veha Hua Hin project. This increased the proportion of self-developed project revenue and significantly boosted profitability. PROUD also managed project development costs, investments, construction quality, operating expenses, and financing efficiently, lifting the net profit margin in Q2 2025 to 6.2% from 1.2% a year earlier.
The results came amid an uneven real estate market recovery, with national transaction volumes and values growing 11.2% and 3.1% respectively in Q1 2025, yet land allocation and construction licenses falling 45.7% and 50.2%. This underscored PROUD's success with its strategy of focusing on premium, distinctive projects over price and volume competition.
As of June 30, 2025, PROUD's sales pending transfer (backlog) totaled 4,008 million baht, to be recognized as revenue from 2025 through 2027. The company also reduced its interest-bearing debt-to-equity ratio to 1.1 times from 1.9 times at end-2024, lowering financing costs and further boosting net margins, while maintaining a strong cash position to support expansion and new projects.
"Although the overall real estate market faces economic and purchasing-power headwinds, we are confident the second half will deliver continued growth from accelerated Ramya Convent handovers and our strong-quality backlog," said Pasutt Liptpullarp, managing director of PROUD.
