Gagasan Nadi Cergas Bhd posted a 62.3% year-on-year jump in net profit to RM18.9 million for the first half ended June 30, 2026 (1H26), from RM11.6 million a year earlier, as stronger property development, recurring income and construction contributions lifted earnings.
Revenue for 1H26 also rose 16.6% to RM241.3 million from RM207 million, supported by progress across multiple Idaman affordable housing projects and the en-bloc sale of all 523 Idaman Casuarina 1 units to the Selangor Housing and Property Board.
For the second quarter, net profit climbed 51.5% to RM9.8 million from RM6.5 million, while revenue jumped 35.4% to RM152.6 million from RM112.7 million.
Property development remained the group’s largest profit contributor, backed by a pipeline of affordable housing and open-market projects with an estimated gross development value of RM4.8 billion and unbilled sales of RM322 million.
Recurring income also strengthened following the acquisition of a 69.4% effective interest in Konsortium PAE Sepakat Sdn Bhd, which manages student hostels across seven polytechnic campuses, while the construction division continued its recovery on a sizeable pipeline of in-house projects.
Group Managing Director Datuk Wan Azman Wan Kamal said the group’s broader business model across property development, concessions, facility management and construction had strengthened its long-term resilience.
Gagasan Nadi Cergas is also proposing to transfer its listing from the ACE Market to Bursa Malaysia’s Main Market by the first quarter of 2027.
