Sansiri is a leading real estate development company in Thailand, operating three core businesses: real estate development (for sale and for rent), real estate services (real estate brokerage, real estate project management, and hotel business, among others), and investment business.
| 3M26 | 3M25 | 2025 | 2024 |
|---|
| Revenues | 6,848.64 | 6,873.25 | 34,939.87 | 39,513.78 |
| Expenses | 5,991.64 | 6,044.87 | 29,579.95 | 33,858.05 |
| Net Profit (Loss) | 864.23 | 813.88 | 4,513.29 | 5,252.92 |
| Assets | 147,984.48 | 148,515.04 | 145,404.94 | 149,399.16 |
| Liabilities | 96,900.67 | 98,853.46 | 95,343.05 | 100,408.88 |
| Shareholders' Equity | 50,532.34 | 48,930.59 | 49,464.96 | 48,177.93 |
| Operating | -4,956.56 | 3,462.74 | 12,824.70 | 12,342.92 |
| Investing | -595.16 | -1,047.67 | -1,397.64 | 682.96 |
| Financing | 5,379.20 | -2,115.67 | -10,178.90 | -10,983.09 |
| EPS (Baht) | 0.05 | 0.04 | 0.24 | 0.29 |
| GP Margin (%) | 24.46 | 30.63 | 32.83 | 33.57 |
| NP Margin (%) | 11.96 | 11.13 | 13.12 | 13.40 |
| D/E Ratio (x) | 1.90 | 1.99 | 1.90 | 2.05 |
| ROE (%) | 9.18 | 9.78 | 12.04 | 14.10 |
| ROA (%) | 4.05 | 4.14 | 4.04 | 4.58 |
Sansiri has revealed the 2026 launch plan of 33 new projects, with a combined value of THB 51,000mn. This includes 16 low-rise projects worth THB 21,000mn and 17 condominium projects worth THB 30,000mn. Of which, 80% of the new projects will be focused on the mid-to-high segment. The Company also set the net presale target of THB 41,000mn and transfer target of THB 39,000mn.
Sansiri operates its sustainability initiatives in accordance with Global Reporting Initiative (GRI) standards and aligns with 11 United Nations Sustainable Development Goals (SDGs), specifically Goals 3, 4, 5, 6, 7, 8, 10, 11, 12, 13, and 16. These goals are consistent with the company's business strategies and objectives. The company's sustainability approach focuses on three key areas:
1. Race to Zero
Strive to become a net-zero carbon organization by mitigating the impacts of climate change, enhancing resource efficiency, and managing waste, including the use of clean energy and sustainable technologies under the 3 Green Framework. Collaborate with partners to foster innovation and reduce greenhouse gas emissions throughout the value chain.
2. Social Change
Promote Diversity, Equity, and Inclusion (DEI) by fostering an open organizational culture that equally empowers everyone, adhering to universal human rights principles, and building strong, sustainable relationships with communities to develop solutions and create positive social impact.
3. Sustainable Business
Conduct business under principles of good governance, transparency, and accountability to stakeholders, while managing risks and opportunities to enhance competitiveness and create sustainable long-term value.
- As of 31 Mar 2026, Sansiri had a total of 139 active projects, with available for sale value of THB 104,687mn, representing 45% of total project value
- Backlog (including JV projects) as of 31 Mar 2026 amounted to THB 23,055mn, which will be gradually recognised as revenue between 2026-2029
- Ready-to-move inventory as of 31 Mar 2026 stood at THB 12,600mn, divided into low-rise projects of THB 3,700mn and condominiums of THB 8,900mn
- Net presales in 1Q2026 were THB 11,108mn, down 17% YoY
- In 2025, Sansiri reported total revenue of THB 6,691mn, declining by 3% YoY from lower revenue from business management services.
- Net profit amounted to THB 864mn, increasing by 6% YoY with a net profit margin of 12.9%.
- Interest-bearing debt to equity (Gearing ratio) was at 1.54 times, remains under restrictive financial covenants with gearing ratio less than 2.5 times.
- In 1Q2026, 6 new projects were launched with a total value of THB 10,300mn, comprising of 2 low-rise project worth THB 1,850mn and 4 condominium projects worth THB 8,450mn
- In 1Q2026, 4 new condominiums commenced transfers, namely Via 61, dcondo vivid rangsit, THE MUVE Bangwa, and Vay Chinnakhet.
The Company establishes a systematic process for risk management by adopting the integrated enterprise-wide risk management framework based on international standards (COSO Enterprise Risk Management) as a guideline for risk management. An independent risk management unit is responsible for overseeing risks. Risks are assessed at both the corporate level (Corporate Risk) and departmental level (Departmental Risk). This includes a comprehensive analysis of risk factors, namely strategic, operational, financial, legal compliance, environmental, social, and governance (ESG) aspects, as well as technological changes. This approach aims to establish guidelines for risk management and to control risks to an acceptable level for the organization. Furthermore, risk management performance is regularly monitored and reported to the Risk Management Committee.
- Included into SET100 and SETHD Index
- Received the AAA rating for sustainability in the SET ESG Ratings 2025, determined by the Stock Exchange of Thailand
| as of 31/03/26 | SIRI | PROP | SET |
|---|---|---|---|
| P/E (X) | 5.27 | 14.78 | 16.56 |
| P/BV (X) | 0.48 | 0.80 | 1.36 |
| Dividend yield (%) | 9.53 | 4.77 | 4.41 |
| 31/03/26 | 30/12/25 | 30/12/24 | |
|---|---|---|---|
| Market Cap (MB) | 23,781.27 | 23,366.39 | 31,142.74 |
| Price (B/Share) | 1.36 | 1.34 | 1.80 |
| P/E (X) | 5.27 | 5.47 | 5.87 |
| P/BV (X) | 0.48 | 0.46 | 0.66 |
