KUALA LUMPUR: Teladan Group Bhd
plans to launch properties with an accumulated gross development value (GDV) of RM1.2bil in the current financial year ending Dec 31, 2024 (FY24) including a maiden development in the Klang Valley.
The remaining projects are located in Melaka, Teladan said in a filing with Bursa Malaysia.
In the first quarter ended March 31 (1Q24), Teladan reported a total property sale of RM75.7mil, mainly contributed by sales from completed, ongoing as well newly launched projects.
During the quarter, it launched properties with a total GDV of RM47.6 million, including Taman Bertam Putra Phases 2 and 3, and Taman Impiana Kesang Phase 3 shoplots.
Teladan’s net profit tumbled 32.9% to RM5.6mil in 1Q compared with RM8.3mil in the same quarter last year.
Revenue, however, rose 22.3% to RM75.3mil from RM61.6mil a year ago. Earnings per share fell to 0.69 sen in 1Q24 against 1.03 sen previously.
Teladan said it has as substantial undeveloped landbanks of approximately 1,071.5 acres as at March 31, 2024.
This sizable land inventory allows the group to continually explore new development opportunities and unlock significant commercial value over the long term.
“By capitalising on its robust landbank inventory, prudent management practices, and strategic property development initiatives, Teladan is positive about sustaining a healthy financial performance under the current business landscape,” it added.
