Sansiri budgets Bt31 bn for 2015 investments

President Srettha Thavisin said in a press release yesterday the funding will come from internal cashflow.

The company also plans to launch 17-19 residential projects worth about Bt32 billion this year, of which nine to 10 projects will be condominiums and seven to nine will be single family homes and townhouses.

It targets presales of Bt30 billion-Bt32 billion and revenue of Bt35 billion.

Two or three new projects will be located in provinces like Phitsanulok and others in the North.

“We’re confident that there is still demand for residences upcountry depending on the location and product,” he said.

Sansiri plans to launch its first condominium project worth Bt5 billion under its 50:50 joint venture with BTS Group Holding Plc called BTS Sansiri Holding One Co, which has already been established with registered capital of Bt100 million.

The company expects to achieve a net profit margin of 15 per cent in three years, up from about 12 per cent last year.

“We have confidence that our presales and revenue will reach the target this year thanks to the country’s economy recovery on rising government spending and purchasing power. That will catapult the property market over last year,” he said.

The company reported nine-month presales of Bt8 billion, revenue of Bt19.04 billion and net profit of Bt2.16 billion.