Sansiri is a property development company that operates 3 core businesses: Property Development (for sale and rent), Property Services (property brokerage services, property management, hospitality business and etc.) as well as Investment Business.
| 2023 | 2022 | 2021 | 2020 |
|---|
| Revenues | 39,082.12 | 34,983.48 | 29,557.75 | 34,891.03 |
| Expenses | 31,867.29 | 29,755.26 | 25,981.75 | 32,228.20 |
| Net Profit (Loss) | 6,060.39 | 4,279.88 | 2,017.28 | 1,673.09 |
| Assets | 147,303.35 | 127,451.47 | 116,631.98 | 112,632.10 |
| Liabilities | 99,894.87 | 83,410.96 | 75,665.32 | 73,434.86 |
| Shareholders' Equity | 47,408.48 | 44,041.51 | 39,225.41 | 37,375.55 |
| Operating | 2,795.55 | -674.19 | -2,373.52 | 2,830.70 |
| Investing | -5,706.92 | -1,110.48 | -3,429.59 | 319.16 |
| Financing | 2,929.47 | 2,340.48 | 4,843.96 | -2,301.72 |
| EPS (Baht) | 0.36 | 0.27 | 0.11 | 0.11 |
| GP Margin (%) | 35.85 | 35.43 | 33.67 | 23.84 |
| NP Margin (%) | 15.51 | 12.23 | 6.82 | 4.18 |
| D/E Ratio (x) | 2.11 | 1.89 | 1.85 | 1.87 |
| ROE (%) | 13.25 | 10.07 | 5.03 | 4.90 |
| ROA (%) | 4.41 | 3.51 | 1.76 | 2.89 |
Sansiri plans to introduce 46 new projects in 2024, totalling THB 61,000mn. These projects will be separated between 26 low-rise projects (THB 35,000mn) and 20 condominiums (THB 26,000mn). Provincial cities that possess economic potential and are progressively gaining prominence as tourist destinations, including Phuket, Hua Hin, Chiang Mai and Pattaya will account for 26% of the new projects this year. The remaining 74% of the projects will be in Bangkok and vicinity.
Sansiri adhere to operate business and lead the organisation to grow stronger and sustainably in all dimensions: economic, social, and environmental with the goal to become a Net-Zero emission organisation by 2050 towards the 3P mission as below:
PROFIT: Placing great importance on conducting the business with transparency and proper ethics under the good CG framework
PEOPLE: Recognising the opportunity to conduct the business together with social development to help reduce the inequality and improve the lives of people in the community, and promotes equal opportunity for children and youth through the initiation of the 'Zero Dropout' project
PLANET: Determining to move forward with the 'Green Mission' through a strategic process that sets the standard for environmental management and also develops residential projects with the aim to use renewable or clean energy, and fostering environmentally-friendly technologies.
- Sansiri has 40 years of experience in property development spanning all product types and pricing ranges. The designs of each project are centered on the needs of customers under the “YOU-Centric” concept.
- Sansiri is a fully integrated real estate company, offering both real estate development and after-sale services management provided by Plus Property Co., Ltd., our subsidiary
- Have a solid collection of real estate brands, especially high-end brands in the Sansiri Luxury Collection such as Baan Sansiri, Narasiri, BuGaan, and legendary condominium; 98 Wireless
- Sansiri achieved yet another record-breaking total revenue and net profit in 2023, with total revenue increasing by 12% YoY to THB 39,082 Million. Revenue from project sales, representing 84% of total revenue, climbed by 11% YoY to THB 25,125 Million. In line with an uptick in revenue from project sales, the cost of project sales rose 11% YoY to THB 25,125 Million. The percentage of selling and administrative expenses to total revenue dropped from 20.5% in the previous year to 17.3% in this year. Sansiri made an all-time high net profit of THB 6,060 Million, up 42% YoY with an unprecedented net profit margin of 15.5%.
- Sansiri had debt to equity ratio at 2.11 times and interest-bearing debt to equity (Gearing ratio) at 1.68 times, still remains under restrictive financial covenants with gearing ratio less than 2.5 times.
- Ability to close sales of ‘BuGaan Rama 9-Meng Jai’ worth THB 800mn within 1 day of the project’s public viewing period.
- The return of 2 high-end condominiums, Shush Ratchathewi and Via Ari, totalling THB 7,500mn.
- Sales of 28 projects with a combined value of THB 51,000mn, including both low-rise and condominium, can be closed in 2023.
The Company has set up a systematic risk management process by adapting The Committee of Sponsoring Organization of the Treadway Commission (COSO)’s Enterprise Risk Management: Integrating with Strategy and Performance framework as risk management guidelines. The Risk Management Section works independently with departmental management and risk owners to assess, catalog, and establish risk mitigation plans for both corporate and departmental risks. Furthermore, the Company analyses risk factors such as strategic risk, operational risk, financial risk, compliance risk, technology risk, and environmental, social, and corporate governance (ESG Risk) to control risk within the risk appetite level. Additionally, the risk management progress and mitigation plan are monitored and reported to the Risk Management Committee on a regular basis.
- Included into SET100 Index during a period of Jul to Dec 2023
- Included into SETHD Index during a period of Jul to Dec 2023
- Selected member of Thailand Sustainability Investment 2022 (THSI) and received an AA rating for sustainability in the SET ESG Ratings 2023, determined by the Stock Exchange of Thailand
- The most valuable real estate brand of 2023, assessed by the Faculty of commerce and Accountancy, Chulalongkorn University, together with Baramizi Group
- Best Brand Performance on Social Media (Residential Real Estate) and Best Performance on X (Best Connected Community X Award) from 12th Thailand Social Awards
| as of 28/12/23 | SIRI | PROP | SET |
|---|---|---|---|
| P/E (X) | 4.45 | 14.51 | 18.42 |
| P/BV (X) | 0.64 | 1.19 | 1.36 |
| Dividend yield (%) | 7.87 | 3.56 | 3.32 |
| 28/12/23 | 30/12/22 | 30/12/21 | |
|---|---|---|---|
| Market Cap (MB) | 29,180.72 | 26,264.70 | 18,306.16 |
| Price (B/Share) | 1.77 | 1.76 | 1.23 |
| P/E (X) | 4.45 | 9.28 | 8.09 |
| P/BV (X) | 0.64 | 0.65 | 0.47 |
