PETALING JAYA: Lagenda Properties Bhd
remains cautious of geopolitical uncertainties, inflationary pressures and broader external market conditions.
In a statement, the property developer, however, said it expects the overall impact on operations to remain manageable, supported by resilient domestic demand and its affordable housing-focused business model.
For the first quarter ended March 31, 2026, Lagenda’s net profit dipped to RM44.17mil from RM44.59mil in the previous corresponding quarter, while revenue slipped to RM262.12mil from RM264.40mil a year earlier.
Lagenda said the revenue decline was mainly due to lower contributions from the property development segments.
“Nonetheless, it remained the group’s key earnings contributor, contributing for approximately 90% of total revenue.
“The trading segment, meanwhile, continued to provide a supportive contribution and recorded strong growth, with revenue increasing 18.4% year-on-year, driven by higher demand for building materials and increased sales volume to external contractors.”
Lagenda said the property development segment remained supported by ongoing construction progress across projects including Lagenda Ardea Phase 2 in Ulu Bernam (Selangor), BBSAP in Sitiawan (Perak), and the Group’s highly anticipated development, La’ Lumiere in Kulai (Johor).
“While quarterly performance was moderated by timing of progress billings, the group expects revenue recognition to strengthen progressively in the coming quarters, supported by a higher base of project launches in the preceding year, which has expanded the pipeline of construction activities and billing recognition.
“This, together with steady execution progress across ongoing developments and additional new launches planned in the coming quarters, is expected to drive a gradual ramp-up in performance moving forward.”
Lagenda recorded property sales of approximately RM372.5mil during the quarter under review, led by encouraging demand for developments including La’ Lumiere in Kulai (Johor), Lagenda Ardea in Ulu Bernam (Selangor) and La’ Indera in Kuantan (Pahang).
“The continued positive take-up rates reflect sustained demand for the group’s affordable landed township developments.”
As at March 31, 2026, the group’s unbilled sales stood at a record high of approximately RM1.67bil, providing strong earnings visibility for the coming quarters.
“Lagenda also maintained a sizable landbank of approximately 3,998 acres, with an estimated gross development value of RM10.28bil across multiple strategic growth corridors nationwide,” it said.
At the close of trade, Lagenda shares closed at RM1.46, giving the group a market capitalisation of RM1.22bil.
