Revenue and Profit of 10 Major Real Estate Companies: Sansiri Tops Q1/67 Performance. This report highlights the revenue and net profit of some major players in the stock market as of Q1/2567.

Source: Stock Exchange of Thailand (as of May 15, 2567)
Note: Some operators may update their figures later.

The first quarter of 2567 has been a challenging time for many real estate operators due to the ongoing economic slowdown. Additionally, household debt has pressured the purchasing power of Thai consumers. However, several operators continue to manage their businesses effectively, particularly the top three companies in the real estate sector.

When comparing net profit changes in Q1/2567, only Sansiri Public Company Limited achieved the highest revenue and profit, ranking first. Notably, it is the only operator with revenue exceeding 10 billion baht (10,170 million baht) and also recorded the highest net profit at 1,315 million baht, significantly ahead of the second place.

In Q4 of 2566, profits and revenues of real estate operators may have exceeded those of other quarters in 2566 due to measures reducing transfer fees from 2% to 1% and mortgage registration fees from 1% to 0.01%. These measures, effective until the end of December last year, prompted a rush to transfer ownership of properties priced below 3 million baht. Consequently, profits in Q1/2567 for most companies declined compared to the previous quarter, as the housing measures ended, leading consumers to delay purchasing decisions while awaiting government direction. Only Sansiri and Pruksa saw profit increases compared to Q4/2566.

Mr. Surachet Kongcheep, Managing Director of Property DNA, commented that the government's stimulus measures announced on April 9 are a positive sign that will help boost purchasing power in the housing market, though tangible results may not be seen until Q2/2567. Therefore, the revenue and net profit reported in Q1/2567 stemmed from each operator's promotional activities and sales policies.

The expansion of the housing value ceiling eligible for these measures from 3 million baht to 7 million baht per unit is expected to cover 85% of the housing market in Thailand. It is anticipated that ownership transfers in 2567 will increase by about 5% to 6% compared to 2566, amounting to a transfer value of up to 1.1 million baht, contributing to a 1.8% growth in GDP. Each operator is likely to implement marketing strategies alongside this, and Sansiri, which has already generated high revenue, may maintain its top position until the end of the year. However, all operators have opportunities to increase revenue this year due to government support and a gradual recovery in purchasing power.

Overall, 2567 is a year where real estate operators must exercise caution in managing their risks and stock levels in line with government measures. They also need to continuously manage the launch of new projects while addressing the purchasing power of potential buyers.

Many operators have begun implementing measures and policies to assist buyers, including educating them on the loan application process with banks, facilitating pre-approval before entering into purchase agreements, and offering rental options before purchase. This has become increasingly important for many operators in 2567.

Article by
Property DNA
Mr. Surachet Kongcheep