PETALING JAYA: Paramount Corp Bhd
’s net profit jumped 52.6% year-on-year (y-o-y) to RM25.02mil in the third quarter ended Sept 30, 2025 (3Q25), even as its biggest business segment - property development - saw a double-digit drop in revenue.
The stronger bottomline was achieved mainly due to the redemption of the remaining outstanding perpetual securities in 3Q25.
Higher profit contributions from Paramount’s investment portfolio and hotel operations, alongside the absence of impairment losses that had impacted the prior year’s results, also lifted 3Q25’s net profit.
The higher third-quarter profitability raised the group’s earnings per share to 4.02 sen, although no dividend was declared for the quarter.
Meanwhile, Paramount’s revenue for 3Q25 fell by 11% y-o-y to RM242.7mil.
The property development segment, which contributed over 94% of total revenue, saw a 12% y-o-y drop in revenue to RM229.8mil as compared to RM260.1mil a year earlier.
The co-working segment recorded a 8% lower revenue of RM5.2mil in 3Q25, primarily due to the lower design-and-build revenue from Paramount’s unit, Scalable Malaysia.
The investment and others segment recorded revenue of RM9mil in 3Q25, which was 9% y-o-y higher driven by all three business units - Dewakan (fine dining restaurant), the Mercure Kuala Lumpur Glenmarie hotel, and the education investment properties.
For the cumulative nine-month period ended Sept 30, Paramount’s net profit rose 26.7% y-o-y to RM61.22mil.
Revenue increased by 2% to RM693.11mil.
In a bourse filing, Paramount said it is poised to deliver a stable performance for 2025, in spite of a cautious property market outlook.
As at Sept 30, 2025, the group holds a broad portfolio of properties available for sale valued at RM1.7bil while its unbilled sales stood at RM1.6bil.
“For the remaining months of this year, we will be adopting a cautious and demand-driven approach for our pipeline launches.
“Meanwhile, we continue to actively seek strategic land acquisitions in high-growth locations to support long-term sustainable growth,” group chief executive officer Jeffrey Chew said in a statement.
