• Sansiri (SIRI) has reported sales exceeding 10.5 billion baht in the first four months, accounting for 30% of its sales target of 35 billion baht. The company is confident that it will achieve a 34% growth target for 2022, driven primarily by sales from horizontal projects, including single-detached houses, semi-detached houses, and townhomes, which are being completed and delivered to customers in large numbers.
  • In the first quarter, the company generated a total revenue of 5.22 billion baht with a net profit of 303 million baht. The net profit margin increased to 5.8% of total revenue, up from 5.6% in the same period last year, primarily due to an increase in gross profit margins from project sales.
  • The company is also booking revenue from hotel management within the Standard Group globally, including locations in New York, Los Angeles, Miami, London, Maldives, and The Standard, Hua Hin (the first hotel in Thailand and the first beachfront resort in Southeast Asia). Revenue has grown by 70% compared to the same period last year.
  • The mixed product line of houses and townhomes under the Anasiri brand has generated 668 million baht in revenue, an increase of nearly 10% from the same quarter last year. The top revenue-generating projects include Anasiri Chaiyaphruek-Ring Road, Anasiri Bangkok-Pathum Thani, and Anasiri Rangsit. The company is set to launch the new project “Anasiri Ramkhamhaeng” valued at 1 billion baht, featuring Mediterranean style in a future location just 10 minutes from the Orange Line subway station, with prices ranging from 3.69 to 8 million baht.
  • In Q2, the company plans to launch 11 new projects worth a total of 13.8 billion baht and is in partnership discussions with the Japanese Tokyu Group, recognizing the potential of the “Bangkok Kritha” area for high growth due to its quality residential environment, convenient transportation, and easy access to business districts. The first horizontal project is expected to be launched this year.

Mr. Uthai Uthaisangsoook, CEO of Sansiri Public Company Limited (SIRI), stated that Sansiri has successfully executed its business plan “SANSIRI STEP BEYOND,” achieving strong and sustainable growth across all dimensions under the three key drivers: PROFIT - PEOPLE - PLANET. The company aims to generate revenue and profits for all stakeholders while strengthening the organization as planned, resulting in sales exceeding 10.5 billion baht in four months, or 30% of the sales target of 35 billion baht. Sales from horizontal projects accounted for 7.4 billion baht, or 70%, while condominium sales contributed 3.1 billion baht, or 30%. The single-detached house brand Setthasiri received the most positive response, followed by the ready-to-move-in lifestyle condominium brand XT and the newly designed townhome brand Siri Place Dream Destination, reflecting the demand for housing under the Sansiri brand across all price levels, from high-end single-detached houses to centrally located condominiums targeting younger generations, and affordable townhomes like Siri Place for first-time homebuyers.

“Sansiri is confident that it will achieve its sales target of 35 billion baht, representing a 34% growth. In the second half of the year, Sansiri expects significant revenue growth from horizontal projects that have received positive responses, including single-detached houses, semi-detached houses, and townhomes, which will be completed and delivered to customers in large numbers. In the first quarter of 2022, Sansiri achieved total revenue of 5.22 billion baht, with sales revenue of 4.288 billion baht, coming from 80% of horizontal project transfers and 20% from condominium projects. Revenue from the mixed product line of houses and townhomes under the Anasiri brand generated 668 million baht, an increase of nearly 10% from the same quarter last year. The top revenue-generating projects were Anasiri Chaiyaphruek-Ring Road, Anasiri Bangkok-Pathum Thani, and Anasiri Rangsit. The continuous positive response from customers in the first quarter reinforces the real demand and results in strong performance for Sansiri, with a net profit of 303 million baht and a net profit margin of 5.8% of total revenue, up from 5.6% in the same period last year, primarily due to an increase in gross profit margins from project sales,” Mr. Uthai said.

Furthermore, as the COVID-19 situation improves and economic activities show positive trends, Sansiri has also benefited from hotel management revenue due to its major stake of over 62% in Standard International, the parent company of The Standard hotel chain, a globally influential lifestyle brand in the boutique hotel business, receiving acclaim in New York, Miami, London, and many other cities. The company generated hotel management revenue of 106 million baht in the first quarter of this year, growing by 70% compared to the same period last year.

“For the business plan in Q2, Sansiri plans to launch approximately 11 new projects worth a total of 13.8 billion baht. Recently, Sansiri has secured the project “Anasiri Ramkhamhaeng” valued at 1 billion baht, continuing the success of the Anasiri brand, which received excellent responses last year, to meet diverse demands for houses and townhomes within a single project under the living concept Feel Just Right – “the perfect fit.” The latest project, Anasiri Ramkhamhaeng, features a Mediterranean style design that has never been seen in previous Sansiri projects, allowing residents to live vibrantly in homes that suit every lifestyle, with well-designed spaces for every family member. The project welcomes residents with a warm and bright atmosphere in common areas inspired by Mediterranean coastal resort cities. This is Sansiri's first project in the future location of Ramkhamhaeng – Bangkok Kritha New Cut, just 10 minutes from the Orange Line subway station and the motorway, with convenient access connecting the city quickly via four main roads: Ramkhamhaeng, Bangkok Kritha New Cut, Romklao, and the Outer Ring Road. The project includes 272 units of new design semi-detached houses and townhomes, with usable areas ranging from 99 to 148 square meters, featuring four house types and four functions to accommodate all living needs at affordable prices ranging from 3.69 to 8 million baht. For more project information, visit http://siri.ly/5Iy5fR5, along with additional new projects in Q2. The execution of the planned business strategy will enable Sansiri to achieve its sales and transfer target of 35 billion baht as planned,” Mr. Uthai stated.

Additionally, the potential of the “Bangkok Kritha” area shows high growth prospects as a quality residential location surrounded by a good lifestyle, including leading international schools, top hospitals, and community malls that enhance the lifestyle, making it one of the best residential cities. The area also offers convenient transportation with various routes and easy access to business districts via comfortable transportation routes, including Srinakarin-Romklao Road or the new Bangkok Kritha Road, a six-lane road connecting to major roads leading into the city, such as Srinakarin-Romklao Road, Bangkok Kritha Road, Rama IX-Motorway, Pattanakarn Road, and Hua Mak Road, as well as three upcoming subway lines, including the Airport Rail Link from Phaya Thai to Suvarnabhumi, which provides quick access to the CBD, and two additional subway lines, the Yellow Line and the Orange Line, expected to open soon. Sansiri has already developed two quality residential projects in this area, covering a total area of 155 rai, with a total project value of 7.5 billion baht in the best location of Bangkok Kritha, characterized by the project's unique area connecting to the new Bangkok Kritha Road (Srinakarin-Romklao) and Ramkhamhaeng, with access to the project via two routes. There are also plans to develop additional new projects this year. Recently, Sansiri's key partner, Tokyu Corporation from Japan, has expressed interest in jointly developing residential projects, recognizing the potential for urban development in this area after successfully developing condominium projects together previously, with plans to launch soon.