PETALING JAYA: Binastra Corp Bhd
’s latest contract win could generate about RM36.5mil in cumulative net profit for the company, analysts say.
Earlier this week, the construction company secured a RM405mil construction contract from Exsim Jalil Link Sdn Bhd for The Queenswoodz, a high-rise residential development in Bukit Jalil.
Looking ahead to the second half of Binastra’s 2026 financial year ending Jan 31 (FY26), TA Research believes Binastra is on track to meet full-year job win expectations.
This would likely be fuelled by a RM2.5bil pipeline of upcoming project rollouts in the southern region, anchored by potential launches in Johor by existing clients.
The Bukit Jalil project involves two residential blocks comprising a total of 1,004 units, along with associated facilities. Job completion is expected within a 41-month period from the commencement date, which has yet to be confirmed.
This latest win marks the group’s fifth contract secured in FY26, bringing year-to-date job wins to RM1.4bil, equivalent to 35% of its full-year order replenishment assumption of RM4bil.
As a result, the builder’s total unbilled order book increased to RM4.6bil, translating to a healthy 4.9 times coverage against FY25 revenue. The research house maintained its target price for Binastra at RM2.53 a share, based on a target price-earnings multiple of 16 times.
