Sansiri is a property development company that operates 3 core businesses: Property Development (for sale and rent), Property Services (property brokerage services, property management, hotel business and etc.) as well as Investment Business.
| 9M25 | 9M24 | 2024 | 2023 |
|---|
| Revenues | 24,047.05 | 29,199.00 | 39,513.78 | 38,132.50 |
| Expenses | 20,437.64 | 19,251.00 | 33,858.05 | 31,867.29 |
| Net Profit (Loss) | 3,029.04 | 4,009.47 | 5,252.92 | 6,060.39 |
| Assets | 148,426.36 | 151,150.34 | 149,399.16 | 147,303.35 |
| Liabilities | 97,511.29 | 103,044.73 | 100,408.88 | 99,894.87 |
| Shareholders' Equity | 50,265.06 | 46,884.28 | 48,177.93 | 45,949.31 |
| Operating | 8,541.61 | 8,313.03 | 12,342.92 | 2,795.55 |
| Investing | -1,871.36 | -2,657.70 | 682.96 | -5,706.92 |
| Financing | -5,817.25 | -5,975.05 | -10,983.09 | 2,929.47 |
| EPS (Baht) | 0.16 | 0.22 | 0.29 | 0.36 |
| GP Margin (%) | 28.33 | 35.26 | 31.07 | 32.03 |
| NP Margin (%) | 12.06 | 13.88 | 12.90 | 15.33 |
| D/E Ratio (x) | 1.92 | 2.14 | 2.05 | 2.11 |
| ROE (%) | 8.80 | 14.12 | 11.16 | 13.71 |
| ROA (%) | 3.63 | 4.55 | 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 25,380mn and 13 condominium projects worth THB 26,620mn. 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.
- As of 3Q2025, Sansiri had a total of 135 active projects, with available for sale value of THB 93,102mn, representing 44% of total project value
- Backlog as of 3Q2025 amounted to THB 17,179mn, which will be gradually recognised as revenue between 2025-2027
- Ready-to-move inventory as of 3Q2025 stood at THB 12,200mn, divided into low-rise projects of THB 4,700mn and condominiums of THB 7,500mn
- Net presales in 9M2025 were THB 32,355mn, representing 70% of the THB 46,000mn target for the year.
- In 3Q2025, Sansiri reported total revenue of THB 7,992mn, representing a 9% QoQ drop due to lower revenue across all business units. The majority of revenue, accounting for 86% of total revenue, came from project sales amounting to THB 6,900mn, which declined by 9% QoQ, following reduced transfers amount.
- Net profit amounted to THB 1,001mn, decreasing by 18% QoQ with a net profit margin of 12.5%.
- interest-bearing debt to equity (Gearing ratio) was at 1.42 times, remains under restrictive financial covenants with gearing ratio less than 2.5 times.
- In 3Q2025, 5 new projects were launched with a total value of THB 14,800mn, comprising of 1 low-rise project worth THB 1,800mn and 4 condominium projects worth THB 13,000mn
- 4 new condominiums commenced transfers, namely FLO by Sansiri, dcondo sense, dcondo calm, and THE MUVE Sukhumvit 107
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
- Marketeer No.1 Brand Thailand 2025 - Single Detached House, Townhome, and Condominium
- 2025 Customer Innovation Awards - Enterprise Transformation Leader
| as of 30/09/25 | SIRI | PROP | SET |
|---|---|---|---|
| P/E (X) | 5.56 | 13.10 | 16.67 |
| P/BV (X) | 0.51 | 0.80 | 1.21 |
| Dividend yield (%) | 10.21 | 4.90 | 3.67 |
| 30/09/25 | 30/12/24 | 28/12/23 | |
|---|---|---|---|
| Market Cap (MB) | 25,437.90 | 31,142.74 | 29,180.72 |
| Price (B/Share) | 1.46 | 1.80 | 1.77 |
| P/E (X) | 5.56 | 5.87 | 4.45 |
| P/BV (X) | 0.51 | 0.66 | 0.64 |
