diff --git a/platform/broadcom/sai.mk b/platform/broadcom/sai.mk
index 5f8e04c339cf..e41da94cdf1c 100644
--- a/platform/broadcom/sai.mk
+++ b/platform/broadcom/sai.mk
@@ -1,6 +1,6 @@
-LIBSAIBCM_XGS_VERSION = 12.1.0.2
+LIBSAIBCM_XGS_VERSION = 12.3.0.3
 LIBSAIBCM_DNX_VERSION = 11.2.13.1-1
-LIBSAIBCM_XGS_BRANCH_NAME = SAI_12.1.0_GA
+LIBSAIBCM_XGS_BRANCH_NAME = SAI_12.3.0_GA
 LIBSAIBCM_DNX_BRANCH_NAME = SAI_11.2.0_GA
 LIBSAIBCM_XGS_URL_PREFIX = "https://sonicstorage.blob.core.windows.net/public/sai/sai-broadcom/$(LIBSAIBCM_XGS_BRANCH_NAME)/$(LIBSAIBCM_XGS_VERSION)/xgs"
 LIBSAIBCM_DNX_URL_PREFIX = "https://sonicstorage.blob.core.windows.net/public/sai/sai-broadcom/$(LIBSAIBCM_DNX_BRANCH_NAME)/$(LIBSAIBCM_DNX_VERSION)/dnx"