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.
| 6M25 | 6M24 | 2024 | 2023 |
|---|
| Revenues | 15,926.83 | 19,928.30 | 39,513.78 | 38,132.50 |
| Expenses | 13,613.03 | 16,915.59 | 33,858.05 | 31,867.29 |
| Net Profit (Loss) | 2,028.12 | 2,702.03 | 5,252.92 | 6,060.39 |
| Assets | 150,062.97 | 151,763.48 | 149,399.16 | 147,303.35 |
| Liabilities | 99,069.48 | 102,368.18 | 100,408.88 | 99,894.87 |
| Shareholders' Equity | 50,300.78 | 48,070.58 | 48,177.93 | 45,949.31 |
| Operating | 4,530.00 | 4,939.20 | 12,342.92 | 2,795.55 |
| Investing | -1,847.52 | -1,821.47 | 682.96 | -5,706.92 |
| Financing | -2,208.77 | -3,066.64 | -10,983.09 | 2,929.47 |
| EPS (Baht) | 0.11 | 0.15 | 0.29 | 0.36 |
| GP Margin (%) | 28.23 | 31.70 | 31.07 | 32.03 |
| NP Margin (%) | 12.19 | 12.95 | 12.90 | 15.33 |
| D/E Ratio (x) | 1.94 | 2.07 | 2.05 | 2.11 |
| ROE (%) | 9.31 | 11.90 | 11.16 | 13.71 |
| ROA (%) | 4.05 | 4.84 | 4.58 | 5.72 |
Sansiri has revised the launch plan to 25 new projects in 2025, with a combined value of THB 52,000mn. This includes 11 low-rise projects worth THB 25,430mn and 14 condominium projects worth THB 26,570mn. 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 137 active projects, with available for sale value of THB 92,184mn, representing 45% of total project value
- Backlog as of 2Q2025 amounted to THB 19,236mn, which will be gradually recognised as revenue between 2025-2027
- Ready-to-move inventory as of 2Q2025 stood at THB 11,100mn, divided into low-rise projects of THB 4,200mn and condominiums of THB 6,900mn
- Net presales in 1H2025 were THB 21,181mn, representing 46% of the THB 46,000mn target for the year.
- In 2Q2025, Sansiri reported total revenue of THB 8,786mn, representing a 27% QoQ growth, driven by higher revenue across all business units. The majority of revenue, accounting for 86% of total revenue, came from project sales amounting to THB 7,592mn, which grew 36% QoQ.
- Net profit amounted to THB 1,214mn, increasing by 49% QoQ with a net profit margin of 13.8%.
- interest-bearing debt to equity (Gearing ratio) was at 1.45 times, remains under restrictive financial covenants with gearing ratio less than 2.5 times.
- In 2Q2025, 3 new projects were launched with a total value of THB 4,640mn, comprising of 3 low-rise projects; Narasiri Bangna km. 10, Else Bearing 32, and Demi Rama9-Meng Jai, which was able to sell out the entire project within the quarter.
- 2 new condominiums commenced transfers, namely THE BASE Bukit and THE BASE Rise Phuket.
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 30/06/25 | SIRI | PROP | SET |
|---|---|---|---|
| P/E (X) | 4.69 | 10.33 | 14.76 |
| P/BV (X) | 0.46 | 0.66 | 1.03 |
| Dividend yield (%) | 11.67 | 5.76 | 4.39 |
| 30/06/25 | 30/12/24 | 28/12/23 | |
|---|---|---|---|
| Market Cap (MB) | 22,269.53 | 31,142.74 | 29,180.72 |
| Price (B/Share) | 1.28 | 1.80 | 1.77 |
| P/E (X) | 4.69 | 5.87 | 4.45 |
| P/BV (X) | 0.46 | 0.66 | 0.64 |
