PETALING JAYA: Gamuda Bhd
’s net profit for the third quarter ended April 30, 2026 has increased 5% to RM257.98mil from RM246.84mil in the same quarter last year.
Its revenue had hit RM4.44bil for the quarter under review, higher than the RM3.09bil recorded last year.
In a filing with Bursa Malaysia, the construction giant said that the increases in both were on the back of robust contributions from its domestic construction order book.
The construction division recorded an increase in quarterly revenue and net profit of 47% and 6%, respectively.
This growth was primarily driven by higher work progress from domestic projects, which mitigated the lower overseas contribution as several Australian projects reached their tail-end.
Gamuda said its order book posted a new record of RM52bil after securing RM11.7bil in new wins this quarter.
“Year-to-date wins now stand at RM25.1bil, comprising a water supply scheme, a hyperscale data centre in Malaysia, solar farms in Australia and a Mass Rapid Transit system project in Taiwan,” the group said.
However, its property segment saw revenue for the quarter fall 1% on the back of slower sales conversion across Malaysia townships.
For the nine months ended April 30, 2026, revenue grew to RM12.58bil, while net profit increased to RM703mil. Construction revenue and earnings for the period rose 15% and 7%, respectively.
The property segment saw sales fall 20% as Celadon City in Ho Chi Minh City was completed last year, while several newly acquired Vietnam quick-turnaround projects (QTP) and Hanoi Parcel A are pending launch and approval.
Its engineering division’s ongoing domestic projects include the Penang Light Rapid Transit Mutiara Line Phase 1, Penang Silicon Island, and Selangor’s Sungai Rasau Water Supply Scheme.
In Sabah, the group was appointed total development contractor for the Ulu Padas hydroelectric project, while the Batang Lupar Bridge at Sri Aman Town and the Northern Coastal Highway at Limbang were among its projects in Sarawak.
Meanwhile, the group added that it will look forward to this year’s earnings being driven by domestic construction projects.
“This includes the construction of several data centres and higher contributions from various property QTP, especially Vietnam’s Eaton Park project which has generated robust sales with higher margins,” it noted.
Moving forward, the group said its resilience is underpinned by an all-time-high construction order book balance of RM52bil and unbilled property sales of RM7.4bil.
“During the year, the property division’s acquisition of several land banks to boost its QTP portfolio in Vietnam and Singapore, coupled with the spending to develop existing projects, temporarily raised the group’s gearing to 73% from 53% last year.
“The gearing would reduce from next year onwards as the group generates revenue and cash flow from its record construction order book and formidable unbilled property sales,” it said.
The group has also declared a second interim dividend of five sen per ordinary share, bringing the total year-to-date payout to 10 sen.
At close, Gamuda’s share price was RM4.25 with a market capitalisation of RM25.34bil.
