Lagenda Properties records RM44.2mil Q1 net profit on stronger property sales

KUALA LUMPUR: Lagenda Properties Bhd posted revenue of RM262.1 million for the first quarter ended March 31, 2026 (Q1 FY26), while maintaining steady profitability with a net profit of RM44.2 million.

The company delivered resilient operational performance despite a slower start to the year, as the festive season contributed to more gradual construction progress during the quarter. As a result, revenue edged down 0.9 per cent year-on-year, primarily due to lower contributions from its property development segment.

Nevertheless, property development remained the company’s main earnings driver, accounting for some 90 per cent of total revenue.

“We are pleased to have delivered another quarter of resilient performance, supported by steady demand across our township developments. While the first quarter was affected by the festive period, our strong sales momentum and record-high unbilled sales continue to reinforce sustained demand for affordable landed homes in strategic growth corridors.

“We expect performance to strengthen progressively, supported by an incremental uplift in construction activities, revenue recognition and profitability in the coming quarters,” the company said in a statement.

The company’s trading segment recorded strong growth, with revenue rising 18.4 per cent year-on-year, driven by higher demand for building materials and increased sales volume to external contractors.

The property development segment remained supported by ongoing construction progress across projects, including Lagenda Ardea Phase 2 in Ulu Bernam, Selangor, BBSAP in Sitiawan, Perak, and La’ Lumiere in Kulai, Johor.

While quarterly performance was moderated by the timing of progress billings, the company expects revenue recognition to strengthen progressively in the coming quarters, supported by a higher base of project launches in the preceding year, which has expanded the pipeline of construction activities and billing recognition.

“This, together with steady execution progress across ongoing developments and additional new launches planned in the coming quarters, is expected to drive a gradual ramp-up in performance moving forward,” the company said.

Lagenda recorded property sales of about RM372.5 million during the quarter, led by encouraging demand for developments including La’ Lumiere in Kulai, Johor, Lagenda Ardea in Ulu Bernam and La’ Indera in Kuantan, Pahang.

“The continued positive take-up rates reflect sustained demand for the company’s affordable landed township developments,” it said.

As at March 31, 2026, unbilled sales stood at a record high of about RM1.67 billion, providing strong earnings visibility for the coming quarters.

The stock closed at RM1.46, giving the company a market capitalisation of RM1.22 billion.

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المصدر: New Straits Times