PETALING JAYA: Lagenda Properties Bhd just posted its strongest opening half ever, and the numbers suggest the momentum won’t fade anytime soon. A record RM1.75 billion in unbilled sales plus close to 4,000 acres of land reserves give the developer exceptional clarity on future earnings.
The company tempered its optimism about Malaysia’s property market with caution. Yet its project pipeline remains deep enough to sustain revenue growth across multiple regions for quarters to come.
Demand for affordable township housing stayed resilient during the second quarter of financial year 2026. Buyers continued snapping up units across the group’s major developments at a healthy clip.
Johor led the charge, generating roughly half of all first-half sales. Kulai and Kota Tinggi performed particularly well. Quarterly sales reached RM503.8 million, pushing the six-month total to about RM876.3 million.
“Healthy take-up across newly launched phases continued to reflect sustained demand for affordable homes,” the company said. That demand underpins earnings visibility as construction advances through each phase.
Meanwhile, broader economic conditions offered support. Inflation held at a manageable 1.8% in July while Bank Negara kept the overnight policy rate at 2.75%. Those factors produced a stable borrowing environment, helping homebuyers absorb costs even as infrastructure projects roll out nationwide.
Lagenda also flagged upcoming launches across existing townships in Johor, Kedah, Negri Sembilan, Pahang, and Perak. Those projects should reinforce sales momentum in the quarters ahead.
The group’s land strategy remains disciplined. It targets strategically located parcels at affordable prices within high-growth corridors, according to a Bursa Malaysia filing. That approach positions the company for long-term expansion without overpaying for land.
For the six months ended June 30, 2026, net profit climbed 12.2% to RM100.8 million from RM89.9 million a year earlier. Stronger property development performance and higher revenue recognition from ongoing projects drove the gain.
The trading division also lifted operating results. Higher demand for building materials and steady project progress boosted contributions across the board.
Revenue jumped 18.9% to RM598.4 million compared with the same period last year. Property development and trading both delivered stronger results, powered by construction progress and rising material sales.
