KUALA LUMPUR: Land & General Bhd
(L&G) kicked off its financial year ending March 31, 2027 (FY27) on a strong note, with first-quarter net profit jumping 88.7% to RM21.5mil from RM11.4mil a year earlier.
Revenue surged 61.5% to RM159mil from RM98.5mil in the year-ago quarter, driven mainly by higher revenue recognition from ongoing property developments. Earnings per share nearly doubled to 0.72 sen from 0.38 sen.
The property division remained the group’s key growth driver, with revenue climbing 70.7% to RM146mil from RM85.5mil a year earlier. Operating profit from the division rose 28.5% to RM24mil.
L&G said the stronger performance was mainly due to steady construction progress across its ongoing developments, which resulted in higher revenue recognition.
Managing director Low Gay Teck said the strong start to FY27 built on the momentum achieved in FY26 and reflected the continued execution of the group’s ongoing developments.
“As construction activities progressed during the quarter, secured sales were progressively converted into revenue, with the group recording approximately RM513mil in unbilled sales as at June 30, 2026,” he said.
“Looking ahead, the group has approximately RM1.5bil in planned launches for FY27, which would provide opportunities to replenish our sales pipeline and sustain the group's growth momentum as we move through the financial year,” he said in a statement.
Beyond its residential developments, the group is progressing with the land-use rezoning exercise for its Kerling land and is engaging with the relevant authorities.
It is also advancing plans to develop its land in Tampoi, Johor, into an industrial and commercial hub as part of efforts to broaden its development portfolio and unlock the value of its landbank.
Low said the group would remain focused on disciplined execution while building a more diversified earnings platform, supported by ongoing developments, upcoming residential and industrial projects, recurring contributions from its education business and strategic landholdings.
