• Sansiri (SIRI) reaffirms its strength as a leader in the real estate sector, showcasing its first-half performance for 2023 with a record net profit of 3.203 billion baht, a remarkable increase of 162% compared to the same period last year. The net profit margin stands at 17.3% of total revenue, up from 9.3% in the previous year. The net profit for the second quarter alone reached 1.621 billion baht, growing 77% from the same quarter last year.
  • Meanwhile, total revenue for the first half is 18.493 billion baht, a 42% increase from the previous six months, with first-quarter revenue at 8.505 billion baht and second-quarter revenue at 9.988 billion baht, up 27%. This performance is attributed to growth across all segments in horizontal housing and a positive reception for ready-to-move-in condominiums, signaling a strong recovery in the condominium market.
  • Looking ahead to the second half of the year, Sansiri plans to launch 39 new projects valued at 56.7 billion baht. Highlights include the upcoming launch of “Bugan Pattanakarn,” a luxury private villa project at the end of September, along with the introduction of a New Luxury Condominium in the prime location of “Ratchathewi,” set to debut in August, aimed at boosting sales and future revenue recognition.
  • The company aims to generate revenue and profits for all stakeholders, including shareholders, and has announced an interim dividend of 0.10 baht per share, with the XD mark on August 28.

Mr. Vicharn Viriyaprasit, Chief Financial Officer of Sansiri Public Company Limited (SIRI), revealed that the company's performance for the first half of 2023 shows a net profit of 3.203 billion baht, the highest in the real estate sector, marking a significant growth of 162% compared to the same period last year. The net profit for the second quarter of 2023 stands at 1.621 billion baht, up 77% from the previous year, with a net profit margin of 17.3% of total revenue, a substantial increase from 9.3% in the previous year, indicating improved profitability.

Mr. Vicharn Viriyaprasit, Chief Financial Officer of Sansiri Public Company Limited (SIRI)

Total revenue for the first half is 18.493 billion baht, a 42% increase from the previous six months, with first-quarter revenue at 8.505 billion baht and second-quarter revenue at 9.988 billion baht, up 27%.

The success stems from outstanding sales across all residential project categories, resulting in growth both in the first half and quarterly. The achievements are attributed to strong demand for horizontal projects across all segments, such as Narasiri Phaholyothin-Watcharapol, a super-luxury single-detached house project that exceeded sales expectations, and Setthasiri Don Mueang, the first project under the “Setthasiri” brand, with 10 new projects valued at 21.9 billion baht this year, marking a successful entry into the brand. This includes the first single-detached house for families under the Saran Siri brand, the Saran Siri Ratchaphruek project, priced between 5-10 million baht, which has also received positive feedback. Additionally, the strong performance in the first half is attributed to ready-to-move-in condominiums, which have been well-received and signal a positive recovery in the condominium market, as these properties are good indicators of real demand, with buyers purchasing for personal use or rental purposes. Ready-to-move-in condominiums have garnered positive responses from customers across all segments, including projects like XT Phaya Thai, XT Huai Khwang, Oka House, The Base Phetchaburi-Thonglor, D Condo Phana, and The Move Bangna.

Moreover, Sansiri has achieved remarkable sales, recently reaching a total sales figure of 27 billion baht, accounting for nearly 50% of the sales target of 55 billion baht. In the second half of the year, Sansiri plans to launch an additional 39 projects valued at 56.7 billion baht. Highlights of the projects set to launch in Q3 include “Bugan Pattanakarn,” a luxury private villa project with special features in a quality community, offering only 17 units priced between 65-115 million baht, scheduled to launch at the end of September, along with the introduction of a New Luxury Condominium in the prime location of “Ratchathewi,” set to debut in August.

“Sansiri continues to focus on generating revenue and profits for all stakeholders, including shareholders. The company’s board of directors has approved the payment of an interim dividend based on the performance for the period from January 1 to June 30, 2023, which is satisfactory. The interim dividend will be paid at a rate of 0.10 baht per share, with the XD mark on August 28, 2023, and the payment date set for September 12, 2023. This interim dividend reflects the strong fundamentals and positive performance outlook for Sansiri in the future,” Mr. Vicharn stated.