Lim: We are currently in a transition phase, preparing for the next wave of launches under our ‘8 x 8 Strategy’ alongside the transformative Kwasa Damansara Township.
Positions itself for future growth with a three-year corporate roadmap, rights to Kwasa Damansara
PETALING JAYA: Leading property developer guided by people-first values LBS Bina Group Berhad (LBS) announced on Aug 20 that its unaudited financial results for the second quarter ended June 30 delivered a resilient performance amid the group’s efforts to lay a solid foundation for its next wave of growth.
The group’s revenue of RM309.8mil contributed to a profit after tax and minority interests (PATMI) of RM27.1mil in the quarter under review.
This came on the back of some of the group’s projects, which had achieved completion or were nearing completion last year. The group’s township developments are expected to continue delivering steady contributions ahead.
For the first half of 2025, LBS achieved a cumulative revenue of RM639mil, predominantly from the property development segment which contributed 95.5% of the total revenue. Consequently, LBS delivered a PATMI of RM55.3mil.
Moving forward, LBS’ sales performance remains creditable with total property sales and bookings of RM690.20mil and RM401.11mil respectively as of Aug 19.
Klang Valley remains as the primary growth driver, led by its top performing township, LBS Alam Perdana, which registered the highest sales growth.
Over the medium to long term, the group’s performance is expected to be further enhanced through the development rights agreement which was signed with Kwasa Land Sdn Bhd and its subsidiaries to develop 192.32 acres in Kwasa Damansara.
Carrying a gross development value of approximately RM8.30bil, the premium residential development will be executed in phases over 14 years, significantly entrenching LBS’ presence in the Klang Valley.
LBS group executive chairman Tan Sri Ir Dr Lim Hock San remarked, “We are currently in a transition phase, preparing for the next wave of launches under our ‘8 x 8 Strategy’ alongside the transformative Kwasa Damansara Township.
“These initiatives, supported by our 3,780-acre landbank serve as growth drivers in our expansion journey. They will form a sustainable development pipeline that will underpin our growth over the medium to long term.
“With RM1.33bil in unbilled sales to be progressively recognised and healthy sales momentum in our core Klang Valley markets, we have strong earnings visibility ahead. Our established townships, KITA @ Cybersouth, LBS Alam Perdana, along with Prestige Residence and Idaman projects, continue to perform well, reinforcing our competitive position and our ability to deliver long term value for shareholders,” he added.
