PETALING JAYA: Paramount Corp Bhd
had about RM1.5bil in unbilled sales as at June 30, 2026, providing the property developer with near-term earnings and cash flow visibility as construction progresses.
In a filing with Bursa Malaysia, the group said it also planned to launch new developments with an estimated gross development value of RM1.6bil in the second half of financial year 2026 (2H26).
The planned launches include two sizeable projects targeted for the fourth quarter of financial year 2026 (4Q26), a landed residential development in Section U9, Shah Alam, and a premium high-rise residential development in the U-Thant enclave in Kuala Lumpur.
The Shah Alam development is located about three kilometres from the interchange connecting the Damansara-Shah Alam Elevated Expressway and Guthrie Corridor Expressway, while the U-Thant project is near Paramount’s fully-sold The Ashwood and The Atrium developments.
“Several sizeable projects are expected to record further construction progress in 2H26, with two major phases targeted for completion by the end of the year,” Paramount said, adding that property sales improved in the second quarter compared with the preceding quarter.
As at June 30, the group had about RM1.3bil worth of completed and ongoing properties available for sale, providing a sales pipeline for the remainder of the financial year.
For 2Q26, Paramount’s net profit rose 33.3% to RM29.02mil from RM21.8mil a year earlier.
Revenue grew 20.5% year- on-year to RM276.97mil from RM229.93mil, while earnings per share rose to 4.66 sen from 3.5 sen.
The group declared a dividend of three sen per share, unchanged from the corresponding quarter last year.
For 1H26, Paramount’s net profit increased 19.9% to RM43.4mil from RM36.2mil, despite revenue declining 3.9% to RM429.2mil from RM446.4mil.
Meanwhile, Paramount continued to expand its recurring income business through Co-labs Cowork- ing, which opened its third workspace of the year in July.
Additionally, the new workspace at Sunway Square Corporate Tower brought Co-labs’ total managed space to about 232,000 sq ft across 11 locations, comprising 10 in the Klang Valley and one in Johor.
“In 3Q26, Co-labs Coworking will expand its footprint via additional enterprise-model workspace for a single tenant in the Klang Valley,” Paramount said.
“The focus remains on increasing occupancy levels across its existing spaces and growing its recurring income base,” the company added.
Furthermore, the group continues to replenish its land bank to support its development pipeline.
During 2Q26, the group completed the acquisition of approximately 3.7 acres of freehold land along Jalan Ampang within the U-Thant enclave, Kuala Lumpur.
As at June 30, Paramount’s undeveloped land bank stood at approximately 548.6 acres.
