Lagenda Properties Bhd reported a marginal decline in profit after tax (PAT) to RM44.2 million for the first quarter ended March 31, 2026, as softer construction progress and festive-season slowdowns weighed on revenue recognition.
The affordable housing developer posted revenue of RM262.1 million for 1Q26, down 0.9% year-on-year, mainly due to lower contributions from its property development segment, though overall profitability remained stable on sustained demand for affordable landed homes.
Property development continued to account for about 90% of total revenue, supported by ongoing works across key projects including Lagenda Ardea Phase 2 in Selangor, BBSAP in Perak, and La’ Lumiere in Johor.
The trading segment provided a partial offset, growing 18.4% on higher demand for building materials and contractor sales.
Despite the slight moderation in quarterly profit, Lagenda Properties recorded strong property sales of RM372.5 million, driven by continued take-up across its township developments. Unbilled sales reached a record RM1.67 billion, providing strong earnings visibility for upcoming quarters.
The group also maintained a sizeable 3,998-acre landbank with an estimated gross development value of RM10.28 billion, reinforcing its long-term growth pipeline across key regions nationwide.
Looking ahead, Lagenda Properties said it expects performance to improve progressively as construction activity normalises and new launches ramp up, supported by resilient domestic demand for affordable housing despite external macroeconomic uncertainties.
