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.
| 3M25 | 3M24 | 2024 | 2023 |
|---|
| Revenues | 6,873.25 | 10,225.72 | 39,513.78 | 38,132.50 |
| Expenses | 6,044.87 | 8,703.44 | 33,858.05 | 31,867.29 |
| Net Profit (Loss) | 813.88 | 1,314.98 | 5,252.92 | 6,060.39 |
| Assets | 148,515.04 | 153,267.54 | 149,399.16 | 147,303.35 |
| Liabilities | 98,853.46 | 103,588.75 | 100,408.88 | 99,894.87 |
| Shareholders' Equity | 48,930.59 | 48,291.36 | 48,177.93 | 45,949.31 |
| Operating | 3,462.74 | 2,212.70 | 12,342.92 | 2,795.55 |
| Investing | -1,047.67 | -1,554.66 | 682.96 | -5,706.92 |
| Financing | -2,115.67 | 243.94 | -10,983.09 | 2,929.47 |
| EPS (Baht) | 0.04 | 0.07 | 0.29 | 0.36 |
| GP Margin (%) | 30.63 | 32.39 | 31.07 | 32.03 |
| NP Margin (%) | 11.13 | 12.26 | 12.90 | 15.33 |
| D/E Ratio (x) | 1.99 | 2.09 | 2.05 | 2.11 |
| ROE (%) | 9.78 | 12.49 | 11.16 | 13.71 |
| ROA (%) | 4.14 | 5.17 | 4.58 | 5.72 |
Sansiri aims to launch 29 new projects in 2025, with a combined value of THB 52,000mn. This includes 14 low-rise projects worth THB 31,360mn and 15 condominium projects worth THB 20,640mn. Net presales and transfers were equally targeted at THB 46,000mn.
Sansiri integrates sustainability into its core strategy in line with GRI standards and supports 11 UN SDGs, specifically Goals 3,4,5,6,7,8,10,11,12,13, and 16. These goals are integrated into the Company’s overall business strategy to ensure long-term value creation. The Company focuses on three key pillars:
- Race to Zero – Committed to becoming a net-zero carbon emissions by mitigating climate change impacts, enhancing resource efficiency, and adopting clean energy and sustainable technologies under the 3 Green Framework. The Company collaborates with partners to foster innovation and reduce greenhouse gas emissions throughout its value chain.
- Social Change – Promotes Diversity, Equity, and Inclusion (DEI) by cultivating an open and inclusive corporate culture that empowers individuals equally, upholds human rights, and fosters inclusive growth through strong community engagement.
- Sustainable Business – Operates with good governance, transparency and accountability by proactively managing risks and opportunities to enhance its competitiveness and deliver long-term sustainable value.
- Sansiri currently has a total of 140 active projects, with available for sale value of THB 92,731mn, representing 44% of total project value
- Backlog as of 1Q2025 amounted to THB 20,758mn, which will be gradually recognised as revenue between 2025-2027
- Ready-to-move inventory as of 1Q2025 stood at THB 13,900mn, divided into low-rise projects of THB 6,700mn and condominiums of THB 7,200mn
- Net presales were THB 13,377mn, up 40% YoY, mainly driven by PTY Residence Sai 1 project, a freehold beachfront condominium on Pattaya Sai 1 Road
- In 1Q2025, Sansiri reported total revenue of THB 6,891mn, representing a 31% YoY decrease. 81% of total revenue, or THB 5,599 million, was derived from project sales.
- Net profit amounted to THB 814 million, declined by 38% YoY cheifly from reduced operating profit.
- interest-bearing debt to equity (Gearing ratio) was 1.49 times, down from 1.55 times in 2024 following lower interest-bearing debts.
- In 1Q2025, 10 new projects were launched with a total value of THB 14,100mn, comprising of 2 low-rise projects worth THB 2,480mn and 8 condominiums worth THB 11,620mn
- 3 new condominiums commenced transfers, namely Cabanas Hua Hin, The Muve Pradipat, and Vay Pothisan II
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 31/03/25 | SIRI | PROP | SET |
|---|---|---|---|
| P/E (X) | 4.70 | 11.19 | 15.78 |
| P/BV (X) | 0.51 | 0.76 | 1.10 |
| Dividend yield (%) | 10.52 | 5.06 | 4.37 |
| 31/03/25 | 30/12/24 | 28/12/23 | |
|---|---|---|---|
| Market Cap (MB) | 24,696.95 | 31,142.74 | 29,180.72 |
| Price (B/Share) | 1.42 | 1.80 | 1.77 |
| P/E (X) | 4.70 | 5.87 | 4.45 |
| P/BV (X) | 0.51 | 0.66 | 0.64 |
