PETALING JAYA: Gamuda Bhd
anticipates its earnings performance for the current financial year ending July 31, 2026 (FY26) to be driven mainly by newly awarded domestic construction projects, including the construction of several data centres and higher contributions from various property quick turnaround projects (QTP) in Vietnam.
In a filing with Bursa Malaysia, the construction company said the resilience of the group is underpinned by a construction orderbook balance of RM37bil and unbilled property sales of RM8bil.
“During the year, the property division’s purchase of new landbanks to boost its QTP portfolio and spendings to develop existing projects raised the Group gearing to 62% from 53% last year.” For its first quarter ended Oct 31, 2025 (1QFY26), Gamuda’s net profit rose 5% to RM215.13mil from RM205.39mil in the previous corresponding period, primarily driven by robust contributions from domestic construction projects and the successful execution of QTPs in Vietnam.
The group declared an interim dividend of 5 sen per share, unchanged from the same period last year.
Revenue was lower at RM3.84bil compared with RM4.14bil a year earlier.
Gamuda said quarterly construction revenue was flat due to the delays in the awards of several new domestic contracts, while some Australian projects are near completion. “The construction net profit rose 10% due to stronger earnings from ongoing domestic construction contracts.” For the three months ended October 2025, Gamuda said it won several awards in Australia.
These include the Battery Energy Storage System for the Goulburn River Solar Farm (worth RM383mil); the Richmond Road upgrade (M7 to Townson Road), worth RM465mil; and the Sydney Water - Ryde Pump Station to Wahroonga Reservoir project worth RM428mil.
In 1QFY26, it said Gamuda Land recorded property sales of RM846mil, a 34% year-on-year increase compared to the same period last year.
“Sales were well balanced across the company’s regional portfolio, with 54% contributed by its overseas markets.
“The QTP strategy continues to demonstrate strong performance. For this quarter alone, the QTP projects contributed sales of RM477mil.”
Looking ahead, it said upcoming launches in Malaysia will focus on mid-market segments, where the on-going township projects play a key role in complementing the QTP strategy.
“With the addition of new landbanks, we are able to introduce a broader mix of more affordably priced homes without compromising on the thoughtful masterplanning and quality of life that have long been synonymous with Gamuda Land.”
It said Gamuda Land also strengthened its Singapore presence with the Chencharu Close development, a strategic mixed-use project with an estimated gross development value (GDV) of RM6.9bil, following its September acquisition.
The group said Vietnam continues to be a standout performer for Gamuda Land. “Over the past 12 months, our key projects have achieved exceptional results: Eaton Park is 95% sold with a GDV of RM3.3bil, Elysian is fully sold with a GDV of RM1bil and Springville is 95% sold with a GDV of RM300mil.
“In total, these projects have generated RM4.6bil in sales, positioning Gamuda Land on a positive footing for sustained profit before tax growth from FY26 to FY28.”
