Today (12 December 2025) at 3:50 P.M. (GMT+7) , the share price of SC Asset Corporation Public Company Limited (SET: SC) soared by 4.46%, or THB 0.07 per share, to THB 1.64, with a trading value of THB 18.02 million, driven by a positive outlook on the company’s five-year business plan.
Krungsri Securities (KSS) noted that this plan targets a cumulative net profit of THB 30 billion, with an expected average annual growth rate (CAGR) of around 16%. Although this is an ambitious target, KSS considered it achievable due to SC’s increasingly diverse business structure.
Non-Residential businesses, including hotels, warehouses, office buildings, and service apartments in the U.S., are expected to be the main growth drivers. Meanwhile, the Residential segment still has opportunities to expand into new segments and upcountry locations.
SC aims to reach a net profit proportion from Residential to Non-Residential business at 67% to 37% by 2030, reflecting a balanced structure.
For the fourth quarter of 2025, performance is expected to be strong, driven by presale momentum, property transfers, and net profit, likely making it the best quarter of the year. KSS’ research team maintains its 2025 net profit forecast at THB 1.4 billion, a decrease of 17% from the previous year.
Meanwhile, net profit for 2026 is projected to jump by 36% year-on-year to THB 1.9 billion, supported by the transfer of two new condominium projects with a combined value of THB 8.7 billion and an average sales rate of 87%, as well as improved hotel business performance.
Krungsri Securities maintains its 2026 target price for SC at THB 2.80 per share with a “BUY” recommendation, highlighting strong net profit growth across both Residential and Non-Residential sectors.
The current share price is trading at a 2026 PER of only 3.5x, well below the historical average, representing an accumulation opportunity.
