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.
| 2024 | 2023 | 2022 | 2021 |
|---|
| Revenues | 39,204.57 | 38,422.82 | 34,983.48 | 29,747.52 |
| Expenses | 33,858.05 | 30,691.27 | 29,755.26 | 25,981.75 |
| Net Profit (Loss) | 5,252.92 | 6,060.39 | 4,279.88 | 2,017.28 |
| Assets | 149,399.16 | 147,303.35 | 127,451.47 | 116,631.98 |
| Liabilities | 100,408.88 | 99,894.87 | 83,410.96 | 75,665.32 |
| Shareholders' Equity | 48,990.28 | 47,408.48 | 44,041.51 | 39,225.41 |
| Operating | 12,342.92 | 2,795.55 | -674.19 | -2,373.52 |
| Investing | 682.96 | -5,706.92 | -1,110.48 | -3,429.59 |
| Financing | -10,983.09 | 2,929.47 | 2,340.48 | 4,843.96 |
| EPS (Baht) | 0.29 | 0.36 | 0.27 | 0.11 |
| GP Margin (%) | 31.07 | 34.05 | 35.43 | 31.55 |
| NP Margin (%) | 13.40 | 15.77 | 12.23 | 6.52 |
| D/E Ratio (x) | 2.05 | 2.11 | 1.89 | 1.85 |
| ROE (%) | 14.10 | 18.32 | 10.07 | 5.27 |
| ROA (%) | 4.58 | 6.10 | 3.51 | 3.35 |
Sansiri aims to launch 29 new projects in 2025, with a combined value of THB 52,000 million. This includes 14 low-rise projects worth THB 31,360 million and 15 condominium projects worth THB 20,640 million. This year, the Company will primarily focus on the premium segment. The proportion of project launches in Bangkok and upcountry is set at 85:15.
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
- In 2024, Sansiri reported total revenue of THB 39,205 million, representing a 2% YoY growth. 90% of total revenue, or THB 34,758 million, was derived from project sales. Total costs rose by 9% YoY to THB 26,045 million, resulting in a total gross profit of THB 13,160 million, with a gross profit margin of 33.6%. Selling and administrative expenses accounted for 19.9% of total revenue. Share of profit from joint ventures surged considerably by 188% YoY to THB 1,122 million, driven by higher transfer of ownership in joint venture projects compared to the previous year. Net profit amounted to THB 5,253 million, with a net profit margin of 13.4%.
- Sansiri had interest-bearing debt to equity (Gearing ratio) at 1.55 times, remains under restrictive financial covenants with gearing ratio less than 2.5 times.
- In 2024, Sansiri launched a total of 43 projects, valued at THB 45,600 million, comprising 23 low-rise projects worth THB 27,350 million and 20 condominiums worth THB 19,150 million. The proportion of launches in Bangkok and upcountry was 60:40.
- Overall, projects launched in provincial areas received a favourable response. Some projects achieved nearly 50% presale upon launch, including Anasiri Payap, THE BASE Rise Phuket, THE BASE Srichan Khon Kaen, Sanransiri Kohkaew Retreat Phuket, Canvas Cherngtalay, and Vay Pothisan.
- In 2024, Sansiri achieved net presales of THB 40,800 million, marking a 9% YoY increase, while transfers reached THB 43,700 million, growing 13% YoY.
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 and SETHD Index
- Received the AAA rating for sustainability in the SET ESG Ratings 2024, determined by the Stock Exchange of Thailand
- Highly Commended Supply Chain Management Awards and Outstanding Investor Relations Awards from SET Awards 2024
- Outstanding CFO and Outstanding Investor Relations from IAA Awards for Listed Companies 2024
| as of 30/12/24 | SIRI | PROP | SET |
|---|---|---|---|
| P/E (X) | 5.87 | 13.12 | 19.33 |
| P/BV (X) | 0.66 | 0.99 | 1.40 |
| Dividend yield (%) | 10.65 | 4.53 | 3.23 |
| 30/12/24 | 28/12/23 | 30/12/22 | |
|---|---|---|---|
| Market Cap (MB) | 31,142.74 | 29,180.72 | 26,264.70 |
| Price (B/Share) | 1.80 | 1.77 | 1.76 |
| P/E (X) | 5.87 | 4.45 | 9.28 |
| P/BV (X) | 0.66 | 0.64 | 0.65 |
