“Sansiri COO Confident in 40-50% Profit Growth: Luxury Project Sales Driving Success in Thai Real Estate Market”

Mr. Uthai Uthaisangsuk, Chief Operating Officer of Sansiri Public Company Limited (SIRI), revealed that the company is confident that profits this year will grow through 40-50% according to the business plan. Due to continuous sales growth both in the first quarter of 2023 and during the months of April-May 2023, as well as the company still has transfers from luxury projects with margins. high and received good feedback in the past year Reinforcing the real leader in the Thai luxury market from the confidence in the Sansiri brand both project quality Including an understanding of one’s identity and real taste of living

The upward trend in profit margins is due to higher sales revenue from luxury projects that have been transferred since last year, namely Narasiri Krungthep Kreetha, worth Bt6bn, condominiums. XT Phayathai, the project value is 9.86 billion baht, including revenue from new luxury projects. which are ready to launch and transfer this year, namely Narasiri Phahol-Watcharaphon, Bukan, 3 new projects, Bukan Krungthep Kreetha, Bukan Pattanakarn and Bukan Mengjai, which are ready to be developed and ready to transfer in Q4/23, in total. Including transfers from detached houses under the Setthasiri brand, 10 new projects as well.

In addition, Sansiri is also successful in the affordable condo brands that capture the new generation, namely The Move Bangna, The Move Bang Khae, D Condo Phana and Hey Hua Hin, as “NIA by Sansiri” (nia by Sansiri). Project value: 1.3 billion baht, condominiums from the One of a Kind Project series that combine brands that are unique and outstanding in location. This is clearly reflected in the concept of the project ‘One step closer, just being close…an advantage, close to everywhere, so life is good in every aspect.​ which is ready to launch, ready to sell, ready to transfer in September It will also help increase transfer amounts and higher profits. which, when combined with the proactive business plan to launch new projects this year that covers all segments of demand and a boost from the sale of the Satit Pattana School business. which realized extra profit (after tax) in the past quarter of approximately 400-500 million baht, along with an extra profit from joint venture projects in the remaining quarters, which is expected to drive Sansiri’s 2023 net profit. Let’s make a New High continuously from last year for sure.

“The growth rate of the business continues to increase. This is a result of sales success from the response in the Sansiri residential brand that has gained the confidence of customers. Ongoing cost and expense control The goal is to control selling and administrative expenses (SG&A) at a level of no more than 18-19%, including efficient construction management. to deliver quality housing to customers As a result of these factors, the company is more efficient in making profits and generating revenue with higher potential. Sansiri has the latest sales in the past 5 months at 17 billion baht, which will drive net profit in 2023 to grow to 40-50%.

Mr. Uthai said

By InfoQuest News Agency (30 May ’23)

Tags: SIRI, Thai stocks, real estate, Uthai Uthaisangsuk, Sansiri