PETALING JAYA: Contractor Inta Bina Group Bhd
, which serves some of the country’s major property developers, is set to see its earnings rise by a compounded annual growth rate of 16.9% between the financial years of 2024 (FY24) to FY27.
In a note to clients yesterday, RHB Research forecast Inta Bina’s net profit to reach about RM53mil in FY27 from RM33mil in FY24, backed by a robust outstanding order book.
As of Sept 26, the order book stood at RM1.9bil, which represents a cover ratio of three times based on Inta Bina’s construction revenue in FY24.
“Prospects are backed by commendable project launches of renowned developers in the Klang Valley, combined with potential project launches under its property arm that could be up to a gross development value of about RM500mil.”
RHB Research initiated coverage on Inta Bina with a “buy” call and a target price of 81 sen. The stock closed at 43 sen yesterday.
