PETALING JAYA: Eversendai Corp Bhd
has bagged four new contracts totalling RM400mil, one in Singapore and three in India.
The structural steel specialist, which is majority owned by chairman Tan Sri AK Nathan, announced that it has been awarded a project by Kajima Overseas Asia Singapore Pte Ltd for the Toa Payoh Integrated Development.
The project comprises the construction of a polyclinic, library, sports facilities, stadium, town park, and basement levels.
In India, the first contract is in Amaravati, Andhra Pradesh for an integrated office building aimed at establishing a centralised administrative hub.
The 40-storey tower, part of the Secretariat Towers development, is designed to accommodate state-level head of department offices.
The next two contracts are in Mumbai, one of which is from Larsen & Toubro Ltd, Chennai for structural steel long-span works of Prestige Tower Y development.
Eversendai’s scope includes structural steel works, engineering, connection design, and the preparation of detailed shop drawings.
The other contract is from The New Era Agencies Private Ltd to deliver a high-rise residential building known as Dhuleva One 50 at Malabar Hill, Mumbai.
Eversendai reassured all stakeholders it remains on a solid footing, underpinned by a strong order book, an active tender pipeline, and consistent demand for its engineering and construction delivery projects.
“Eversendai remains confident of overcoming current challenges, supported by potential project awards expected within the coming months,” the company said.
In a separate bourse filing, Eversendai announced that its net profit for the first quarter ended March 31, 2026 rose by 8.3% year-on-year (y-o-y) to RM2.66mil.
Meanwhile, revenue jumped by 26.4% y-o-y to RM513.4mil. Projects in Middle East have contributed to increase in revenue.
However, it is worth noting 1Q saw re-validation of margins on projects in the Middle East and India and provision for impairment of retention monies against previous completed projects in the Middle East.
