Lagenda Maintains Resilient Q1 FY2026 Performance with Record RM1.67 Billion Unbilled Sales
Lagenda Maintains Resilient Q1 FY2026 Performance with Record RM1.67 Billion Unbilled Sales PETALING JAYA, 25 May 2026 – Lagenda Properties Berhad (“Lagenda” or “the Group”) (KLSE: LAGENDA – 7179), a leading developer of affordable housing and integrated townships, recorded revenue of RM262.1 million for the first quarter ended 31 March 2026 (“Q1 FY2026”), while maintaining stable profitability with profit after tax of RM44.2 million. Malaysia’s economy continued to demonstrate resilient growth during the quarter, supported by stable domestic demand, healthy employment conditions and a supportive financing environment, which continued to underpin demand within the affordable housing segment. Against this backdrop, the Group delivered resilient operational performance despite a slower first quarter, which was affected by the festive period and resulted in gradual construction progress. Consequently, revenue declined marginally by 0.9% year-on-year, mainly due to lower contributions from the property development segments. Nonetheless, it remained the Group’s key earnings contributor, contributing for approximately 90% of total revenue. The trading segment, meanwhile, continued to provide a supportive contribution and recorded strong growth, with revenue increasing 18.4% 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 the Group’s highly anticipated development, La’ Lumiere in Kulai (Johor). While quarterly performance was moderated by timing of progress billings, the Group 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. Lagenda recorded property sales of approximately RM372.5 million during the quarter, led by encouraging demand for developments including La’ Lumiere in Kulai (Johor), Lagenda Ardea in Ulu Bernam (Selangor) and La’ Indera in Kuantan (Pahang). The continued positive take-up rates reflect sustained demand for the Group’s affordable landed township developments. As at 31 March 2026, the Group’s unbilled sales stood at a record high of approximately RM1.67 billion, providing strong earnings visibility for the coming quarters. Lagenda also maintained a sizeable landbank of approximately 3,998 acres, with an estimated Gross Development Value of RM10.28 billion across multiple strategic growth corridors nationwide. The Group remains cautious of geopolitical uncertainties, inflationary pressures and broader external market conditions, but expects the overall impact on operations to remain manageable, supported by resilient domestic demand and its affordable housing-focused business model. It also intends to maintain its current housing price positioning despite rising global costs and inflationary pressures, in line with its commitment to affordable home ownership. The Group said, “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.” It added “Moving forward, we remain focused on disciplined execution, timely project delivery and strategic expansion within high-growth locations. With construction activities expected to normalise in the coming quarters, alongside upcoming launches in Sungai Petani, Kedah and Senawang, Negeri Sembilan, we remain optimistic of delivering stronger performance in the quarters ahead and over the longer term.” At the close of trade, Lagenda Properties Berhad shares closed at RM1.46, giving the Group a market capitalisation of RM1.22 billion. View Press Release Share
