Sansiri Reports 6% Profit Growth in Q1/2026 with 13.3 Billion Baht in Sales
Thai property developer Sansiri posted 6% profit growth to 864 million baht in Q1/2026 on 13.3 billion baht in sales, buoyed by low interest rates and plans to launch six new projects worth 13.33 billion baht in coming months.
Sansiri (SIRI) reported Q1/2026 net profit of 864 million baht, up 6% year-on-year, with sales of 13.3 billion baht and a backlog exceeding 24 billion baht. The developer plans to launch six new projects in Q3 worth 13.33 billion baht, capitalizing on low 1% interest rates and relaxed LTV policies. Finance executive Vichan Viriyapusit noted the company achieved 13.3 billion baht in sales and 6.691 billion baht in total revenue during the quarter, with steady growth momentum. The Nara Siri brand under the Sansiri Luxury Collection had strong presales for Bangkok stadium and Bommrachachonnani projects, surpassing 1.5 billion baht in combined sales and prompting faster phase launches. The new Love Charoen Nakhon condominium brand achieved over 1.5 billion baht in presale revenue. With a healthy backlog of 24 billion baht, the company expects to recognize 50% as revenue this year. Completed projects generating revenue include Via 34 Sukhumvit luxury condominiums, Via 61 Sukhumvit condominiums, The Base Seaside with 90% sales, and The Base Srinakharin-Khon Kaen. Q2 plans include six new projects worth 13.36 billion baht, including Setha Siri Great Wangwang-Chatuchote, Mabel Prachachuen 90 single-family homes starting at 5 million baht, and iconic projects like Exit Thonglor, Via 34, and D Condo Vit. The company faces intense competition and price wars in Q2, but benefits from 1% policy interest rates and temporarily relaxed LTV criteria through June 30, 2027 for housing loans. Sansiri partnered with Thai Commercial Bank and Krung Thai Bank for an interest-free payment promotion up to 48 months for homes and condominiums.