KUALA LUMPUR, 27 May 2025 – Lagenda Properties Berhad (“Lagenda” or “the Group”) (KLSE: LAGENDA – 7179), a leading developer of affordable housing and integrated townships, recorded a 17.2% increase in revenue, rising from RM225.62 million in Q1FY2024 to RM264.40 million in the current quarter. The Group reported a net earnings of RM44.59 million for the first quarter ended 31 March 2025 (Q1FY2025), a rise of 4.05% year-on-year from RM42.86 million in the corresponding quarter last year. Earnings per share (EPS) improved to 5.32 sen, compared to 5.10 sen in the same period last year.
In a bourse filing on Tuesday, Lagenda reported a notable increase in revenue, primarily driven by higher revenue recognition from ongoing developments including Darulaman Lagenda in Sungai Petani (Kedah), Lagenda Ardea in Ulu Bernam (Selangor), Puncak Warisan in Kota Tinggi, and Lagenda Suria in Mersing (Johor). Confirmed sales for the period reached RM252 million, underpinned by strong demand at La’ Indera (Kulai) and Puncak Warisan (Kota Tinggi). As of March 2025, unbilled sales totaled RM898.9 million, complemented by outstanding bookings of RM268.8 million, thereby providing strong revenue visibility for the coming quarters.
The Group recently announced a strategic land acquisition of 138.17 acres in Senawang, Negeri Sembilan, bringing its total landbank as at the end of Q1FY2025 to 5,201 acres, with an estimated Gross Development Value (GDV) of RM13.5 billion. This reinforces its robust development pipeline across six key states: Perak, Selangor, Johor, Kedah, Pahang, and now Negeri Sembilan.
Managing Director, Dato’ Jimmy Doh, highlighted a key milestone for the Group, stating, “We are proud to have recently launched the maiden phase of our 1,000-acre affordable township in Kulai, Johor—marking a significant step in solidifying our presence in hottest and most promising growth corridor in Malaysia. The strong initial response underscores the continued demand for affordable landed homes in well-planned, emerging locations.”
The Group continues to uphold its strategy of developing integrated townships nationwide, focusing on affordable, practical, and sustainable homes priced below RM300,000, with convenient access to essential amenities and infrastructure including schools, transportation, and recreational facilities. Dato’ Jimmy added, “Driven by continued demand for affordable housing, we are doubling our launch target from 4,000 to 8,000 units this year.
At the close of trade, Lagenda shares stood at RM1.20, valuing the Group at RM1 billion.