# Broker Predicts Promising Future for Thailand’s Real Estate Giant Sansiri

- Link: https://www.thailand-business-news.com/real-estate/199115-broker-predicts-promising-future-for-thailands-real-estate-giant-sansiri
- Published: 2025-03-05T05:47:00+07:00
- Author: Abhishek Prakash

**Sansiri’s Q4 2024 net profit declined by 18% year-on-year but increased slightly
by 1% quarter-on-quarter to THB 1.3 billion. KKPS anticipates SIRI’s presales to
expand, boosting its market share in 2024.**

## Key Takeaways

 * Sansiri’s 4Q24 net profit declined by 18% year-over-year but increased by 1% 
   quarter-over-quarter, reaching THB 1.3 billion, with residential revenue primarily
   driven by landed properties.
 * Sansiri’s presales grew by 8% in 2024, outperforming the average decline among
   top developers, and the company plans to launch new projects worth THB 52 billion,
   focusing on both landed properties and condos.
 * Kiatnakin Phatra Securities (KKPS) expects Sansiri’s net profit to rise to THB
   5.15 billion in 2025 and recommends buying stocks, setting a target price of 
   THB 2.05 per share, as the company is poised to benefit from Thailand’s real 
   estate market consolidation.

Sansiri’s revenue growth is anticipated to be driven by strong demand in both the
condominium and low-rise housing segments. Additionally, the company plans to launch
several new projects throughout 2024, which are expected to bolster its presales
performance. KKPS highlights that Sansiri’s strategic focus on premium developments
and innovative marketing campaigns could further solidify its position in the competitive
real estate market.

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## Sansiri‘s Financial Performance in 4Q24

In 4Q24, Sansiri Public Company Limited (SET: SIRI) reported a net profit of THB
1.3 billion, showing an 18% year-over-year decline but a slight 1% increase quarter-
over-quarter. The core profit stood at THB 1.2 billion, excluding land sales to 
joint ventures, marking a 26% decrease YoY and 16% QoQ, aligning with Kiatnakin 
Phatra Securities’ (KKPS) and market expectations. The company achieved THB 9.1 
billion in residential revenue, dominated by 70% from landed properties and 30% 
from condos, reflecting an 8% YoY drop but a 10% QoQ rise.

## Future Growth and Market Position

Sansiri‘s 2024 presales grew by 8%, totaling THB 40.8 billion, surpassing the -12%
average decline among top developers. It plans new launches valued at THB 52 billion,
with 61% in landed properties and 39% in condos, anticipating a 13% increase in 
presales driven by a 20% growth in landed property sales. KKPS forecasts SIRI’s 
net profit to rise to THB 5.15 billion in 2025 and recommends buying stocks, setting
a target price of THB 2.05 per share. The company sees potential, especially amid
Thailand‘s real estate market consolidation.

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