• Sansiri (SIRI) is strengthening the real estate sector while maintaining growth as planned.
  • Announced 9-month results for 2023 with a net profit of 4.76 billion baht, surpassing the total profit of 2022, and is expected to be the highest in the real estate sector.
  • Total revenue reached 28,047 million baht, growing 28% from the same period last year, driven by luxury single-house projects and well-received ready-to-move condominiums.
  • Continuing into Q4 with the launch of 22 new projects worth a total of 36 billion baht to meet demand across all segments.
  • The final quarter's performance is supported by confidence in the Sansiri brand and the high season for purchasing residences, along with customers accelerating transfers before the property stimulus measures end at the year's end, aiming to create a new historical record for the best performance in 39 years since the company's establishment.

Mr. Vicharn Wiriya-pusit, CEO of Finance at Sansiri Public Company Limited (SIRI), a leading real estate developer in the country, revealed the operational results for the first 9 months of 2023, with net profit of 4.76 billion baht (an increase of 91% from the same period last year), with a net profit of 1.557 billion baht in Q3 (up 23% from the same period last year). This was partly due to increased profit sharing from joint ventures, particularly with Tokyu Corporation, and effective cost management. Sansiri plans to develop more joint venture projects with various partners in the future. Importantly, the profit for this 9-month period is the highest in the company's 39-year history and exceeds the total net profit for the previous year (2022) of 4.28 billion baht, reflecting the company's effective management aimed at achieving stronger growth in the future, aligning with the established Business Direction.

Meanwhile, total revenue for the 9-month period is 28,047 million baht (accounting for 70% of the annual target of 40 billion baht), representing an increase of 28% from the same period last year. The total revenue for Q3/2023 was 9.554 billion baht, an increase of 8% from the same quarter last year, driven by the continuous launch of new projects in both horizontal and vertical segments, especially luxury single-house projects where Sansiri is a market leader, such as Narasiri Phaholyothin – Watcharapol, a luxury single-house project that exceeded sales expectations, and Bukan Exclusive Residence, a three-story project in the Sansiri Luxury Collection. Both Bukan projects in Bangkok and Bukan in Pattanakarn received positive responses, along with Setthasiri Don Mueang, the first project from the Setthasiri brand for single houses, with 10 new projects this year performing well. Additionally, the positive response from ready-to-move condominiums is another sign of the recovery of the condominium market and an important indicator in the Real Demand market. In Q3, Sansiri launched the Nia Bay Sansiri project as a Ready to Move project, which can be sold and recognized for revenue immediately.

Mr. Vicharn further stated, "With an annual revenue target of 40 billion baht, we have already recorded total revenue of 28,047 million baht in the 9-month period, leaving approximately 12,000 million baht to come from the backlog of sold houses and condominiums that are being gradually delivered, as well as from new project sales, such as Nia Bay Sansiri and Setthasiri's 5 new projects."

"In the final months of the year, we expect positive factors from customers accelerating their decisions to purchase and transfer residences before the expiration of property stimulus measures at the end of the year. Additionally, this is a crucial period for customers looking to buy new residences, along with various campaigns from real estate developers and financial institutions that will help boost year-end sales. Sansiri is preparing to meet the housing demand from both Thai and foreign customers across all segments with plans to launch 22 new projects in Q4 worth 36 billion baht, consisting of 14 horizontal projects worth 24.5 billion baht and 8 condominium projects worth 11.6 billion baht. It is expected that Sansiri will be able to create a new historical record for the best performance in 39 years since the company's establishment," Mr. Vicharn stated.

Recently, Sansiri “SIRI” has been ranked among the sustainable stocks in the SET ESG Ratings for 2023 at the AA level and has been recognized as a sustainable stock for four consecutive years, organized by the Stock Exchange of Thailand. This reflects Sansiri's commitment to sustainable business practices, considering environmental, social responsibility, and governance (ESG) factors. Investing in sustainable stocks is an important trend for investors worldwide, serving as a criterion for decision-making in stock investments alongside business performance.