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Sansiri's Q1 performance report: corporate sales growth, future projects

Tuesday , 05 July 2022 NEWS

Sansiri records sales of Bt10.5 billion in the first four months of 2022 on track to meet its full-year sales growth target of 34 percent, with plans to launch 11 new projects worth Bt13.8 billion in the second quarter to drive further growth and tap key partner Japan’s Tokyu Group to jointly develop the first horizontal residential project in high potential neighborhood Krungthep Kreetha set for unveiling this year



  • Sansiri (SIRI) had a bumper year, notching up sales of Bt10.5 in the first four months of 2022, making up 30 percent of its full-year Bt35 billion sales projection, confident of meeting its 34 percent growth target with the bulk of sales from horizontal property projects of detached houses, semi-detached houses and town homes, all nearing completion and soon ready for transfers.
  • In Q1, 2022, Sansiri raked in Bt5.22 billion in sales, made a net profit of Bt303 million, up 5.8 percent (of total revenue) compared to a net profit increase of 5.6 percent of the same period last year. Growth attributed to the increased gross profit margin on robust sales of property projects.
  • Set to book increasing sales from management of hotels worldwide in the Standard group in places like New York, Los Angeles, Miami, London, Maldives and Hua Hin where it operates the Standard Hua Hin, the first Standard property in Thailand and the first beachfront resort in Southeast Asia. The hotel business records revenue growth of 70 percent compared to the same period in Q1 last year.
  • Sansiri’s mix of detached houses and townhomes from the Anasiri brand posted sales of Bt668, up 10 percent from the same quarter last year with three of its projects – Anasiri Chaiyapruek-Wong Waen, Anasiri Krungthep-Pathumthani, and Anasiri Rangsit – saw the most sales, with plans to unveil Bt1 billion-worth Mediterranean-style Anasiri Ramkhamhaeng on a prime stretch of Ramkhamhaeng and New Krungthep Kreetha Roads, within 10 minutes’ drive from the nearest MRT Orange Line station, with units on offer from Bt3.59-8 million.
  • From Q2, Sansiri set to unveil 11 new projects worth Bt13.8 billion with plans to join forces with Japanese partner Tokyu Group to jointly develop a project in the high growth neighborhood of Krungthep Kreetha, one of Bangkok’s much-coveted prime residential areas, surrounded by sophisticated amenities and key facilities, offering easy accessibility with a network of main roads leading to Bangkok’s CBD. Sansiri and Tokyu set to co-develop a horizontal property project for the first time for unveiling later in the year.  


(Uthai Uthaisangsuk, Chief Operating Officer, Sansiri PCL)


Uthai Uthaisangsuk, Chief Operating Officer, Sansiri PCL, (SIRI), says that that Sansiri has had much success this year in terms of its performance by operating in accordance with “SANSIRI STEP BEYOND.” Sansiri saw robust growth in every dimension thanks to its adherence to Sansiri’s three key business growth drivers: “Profit, People, Planet.” The company aims to create revenue and make a profit for all stakeholders and strengthen the organization all along according to plan. As a result, sales in the first four months topped Bt10.5 billion, accounting for 30 percent of the sales projection of Bt35 billion. In a breakdown of sales by department, Sansiri generated Bt7.4 billion in sales from the horizontal projects, accounting for 70 percent of the overall sales and Bt3.1 billion from condos, accounting for 30 percent.  Detached houses of the Setthasiri brand were the number-one bestsellers, followed by XT Condominium by Sansiri and the Siri Place Dream Destination townhome project. Growth has reflected strong demand for homes of the Sansiri brand, which has seen growing demand across the budget spectrum for both upscale detached houses and downtown condos, which aim to target the new generation. Sansiri also boasts the Siri Place brand of affordable townhomes that aim to meet the needs of those looking to buy their first home.


(Siri Place Rangsit)


“Sansiri is confident of meeting its sales projection of Bt35 billion and growth target of 34 percent. In the second half of the year, Sansiri will see significant growth from top-selling horizontal property projects consisting of detached houses, semi-detached houses and townhomes that are nearing competition and ready for transfers to customers very soon. In the first quarter of 2022, Sansiri raked in Bt5.22 billion in sales consisting of Bt4.288 billion in sales generated from 80 percent of the overall transfers from horizontal property projects and 20 percent from condo projects. Sales from projects of mixed products like detached homes and townhomes of the Anasiri brand grew to Bt668 million, up 10 percent from the same quarter last year. The Anasiri Chaiyapruek-Wongwaen, Anasiri Krungthep-Pathumthani and Anasiri Rangsit projects saw the most sales.  Surging sales from property transfers to customers in the first quarter underscore the existence of real demand and has contributed to Sansiri’s impressive performance with a net profit of Bt303 million, an increase of 5.8 percent      (of total revenue) compared to growth of 5.6 percent in the same period a year earlier. High growth is attributable to the increased gross profit margin from sales of projects,” said Uthai.



Furthermore, with the Covid-19 pandemic easing off with the lifting of curbs and economic activity on the path to recovery, Sansiri also reported robust revenue gains from management of Standard hotels as the biggest shareholder (at 62 percent) of Standard International, the parent company of the hotel group The Standard, a global lifestyle brand that wields the most influence in the boutique hotel industry. The hotel chain enjoys a worldwide reputation in place likes New York, Miami, and London, to name but a few.  Revenue from the hotel management business in the first quarter of the year reached Bt106 million with growth of 70 percent compared to the same period last year.


“In terms of our business direction in the second quarter, Sansiri plans to launch 11 new projects totaling Bt13.8 billion. Lately Sansiri has just unveiled the Bt1-billion-worth Anasiri Ramkhamhaeng project, building on the success the Anasiri brand that is highly successful as it has met with a warm reception over the past year. The project aims to meet the diverse needs of customers with both detached houses and townhomes designed under the concept “Feel Just Right”. Anasiri Ramkhamhaeng, with its slogan “The color of feeling just right in the Mediterranean style” features houses in completely new designs that have never used in any Sansiri project before. The project offers homes that aim to promote colorful styles of living, homes that are just compatible with every lifestyle with usable space that is just right for all family members.  The project welcomes residents with the cozy and sunny atmosphere of the common area with its design inspired by a Mediterranean resort. The Anasiri project is the first of Sansiri located on a prime location of the future which is  Ramkhamhaeng-New Krungthep Kreetha Road, just 10 minutes from the nearest station of the MRT Orange Line and the Bangkok-Chonburi Motorway. The project also offers easy access to Bangkok’s CBD through four main thoroughfares: Ramkhamhaeng, New Krungthep Kreetha, Romklao Roads and the frontage road of Kanchanapisek Outer Ring Road.  Located in an area that has a high standard of amenity, the project consists of 272 units of semi-detached houses and townhomes in modern designs with usable space of between 99 and 148 square meters. Designed to meet all residential needs, the detached houses are available in four types and four functions. Units are priced between Bt3.69 and Bt8 million. To find out more about the project, visit . Sansiri also plans to launch new projects in the second half of 2022. By operating according to its business plan, Sansiri expects to create projects, generates sales and expedite transfers to customers to meet its sales projection of Bt35 billion,” says Uthai.



Moreover, Krungthep Kreetha is one of Bangkok’s prime residential locations with high growth potential, surrounded with high-quality amenities and key facilities such as top international schools, leading private hospitals, community malls that meet all lifestyle needs. The area looks set to be the next best city to live in, blessed with key infrastructure such as multiple roads offering easy access to Bangkok’s CBD. The area is conveniently served by key roads such as Srinakarin-Romklao Road with six lanes (aka New Krungthep Kreetha Road) that connects with key roads leading to downtown Bangkok including Bangkok-Chonburi Motorway, Rama IX, Pattanakarn and Hua Mak Roads. The project is easily accessed by public transport: the Airport Rail Link (plying between Phya Thai and Suvarnabhumi Airport) for a quick ride to Bangkok’s CBD, the MRT Yellow and Orange Lines, both nearing completion. Sansiri has developed two residential projects in the best locations of the Krungthep Kreetha neighborhood, both spanning 155 rais in size and valued at Bt7.5 billion. The two project sites are outstanding because they are served by New Krungthep Kreetha Road (aka Srinakarin-Romklao Road) and Ramkhamhaeng Road. The two projects can be reached via two routes. Sansiri has plans afoot to launch new property projects in this year. Lately, one of Sansiri’s key partners, Tokyu Corporation Co., Ltd., from Japan, has showed interest in jointly developing a residential project in the Krungthep Kreetha neighborhood, seeing that it’s a high potential location. Both companies have successfully developed a condominium project. The Krungthep Kreetha residential project will be unveiled later this year.

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