Lagenda Properties Berhad: A Strong Start to FY2025 with Enhanced Growth Prospects

Kuala Lumpur, May 27, 2025 — Lagenda Properties Berhad (KL:LAGENDA), a leading Malaysian real estate developer, has reported a robust first quarter performance for FY2025, showcasing a 4.4% year-on-year increase in net profit. The company’s net profit for the three months ending March 31, 2025, rose to RM44.59 million from RM42.72 million in the same period the previous year. This growth is attributed to earnings recognized from elimination adjustments, as detailed in the company’s recent bourse filing.

Revenue for the quarter surged by 17.2% year-on-year, reaching RM264.4 million from RM225.62 million in 1QFY2024. This increase was driven by higher sales under the property development segment. Despite a year-on-year decline in earnings contributions across all segments, Lagenda Properties benefited from recognizing an elimination in profit before tax of RM4.3 million, compared to an elimination in loss before tax of RM6.62 million in 1QFY2024. This shift was due to the absence of intersegment dividend income in 1QFY2025.

Looking ahead, Lagenda Properties Managing Director Datuk Jimmy Doh highlighted the company’s strategic response to the continued demand for affordable housing. The group has ambitiously doubled its launch target for FY2025 from 4,000 to 8,000 units. This expansion is underscored by the successful launch of the first phase of its 1,000-acre affordable township in Kulai, Johor, which has garnered strong initial responses.

In a separate announcement, Lagenda Properties emphasized its commitment to executing its pipeline of launches and maintaining a disciplined landbanking strategy. The company reported confirmed sales of RM251.9 million in 1QFY2025, driven by strong contributions from key projects such as Lagenda Aman in Tapah, Perak, La’Indera in Kuantan, Pahang, and Puncak Warisan in Kota Tinggi, Johor. As of March 2025, unbilled sales stood at a healthy RM898.9 million, with outstanding bookings of RM268.8 million, providing strong revenue visibility for the upcoming quarters.

Lagenda Properties also marked its entry into a sixth state with a land acquisition in Senawang, Negeri Sembilan, further expanding its geographical footprint. The company remains optimistic about its planned developments for the current financial year and is confident that its upcoming launches will solidify its position for a bright future.

In addition to its operational achievements, Lagenda Properties provided a quarterly disclosure on the provision of financial assistance. The company announced that the aggregate amount of financial assistance provided during the quarter ended March 31, 2025, to facilitate the ordinary course of business of the LPB Group was minimal, with no material impact on the earnings and net assets for the financial period ended March 31, 2025.

With a market capitalization of 1,004,790,000 MYR and a price-to-earnings ratio of 5.44, Lagenda Properties continues to demonstrate its resilience and strategic foresight in the competitive real estate market. The company’s focus on sustainable and affordable living spaces positions it well to meet the evolving needs of Malaysia’s urban landscape, ensuring long-term growth and value creation for its stakeholders.