Analysts at leading securities firms estimate that Supalai Public Company Limited, or SPALI, will post weak third-quarter 2026 net profit, slowing both year on year and quarter on quarter, with profit projected in a range of 692 million baht to 6,084 million baht, or a decline of 12.3% to 58% quarter on quarter and 4.5% to 41% year on year. The main cause was an unexpected public holiday announcement and flooding in late September, which stalled ownership transfers and pushed them into the fourth quarter of 2026. Most brokers, however, still recommend buying, with target prices ranging from 16.8 baht to 18.3 baht, and expect fourth-quarter 2026 results to recover and mark the year's peak, driven by the deferred transfer revenue as well as a full quarter of recognition from transfers at the high-margin Supalai Parc Ekkamai-Pattanakarn condominium. Third-quarter 2026 presales came in at 5.6 billion baht, down 35% year on year, bringing the nine-month total to 18.5 billion baht, or only 62% of the full-year target of 30 billion baht. Management has cut its 2026 new project launch target by 17% to just 22 billion to 29 billion baht, from 35 billion baht previously. Nevertheless, analysts still forecast 2026 net profit of 4,450 million to 4,800 million baht, growing 12% to 20% year on year, supported by revenue from the residential business of 24.85 billion baht, and expect a high dividend yield of 7.6% to 8.6%.
Supalai Public Company LimitedBrokers estimate weak Q3 2026 net profit, down 12.3%-58% QoQ and 4.5%-41% YoY, and management cut its 2026 launch target by 17%.
