Gamuda FY2026 Net Profit Rises to RM1.05 Billion as Domestic Construction Earnings Surge 49 Percent

KUALA LUMPUR, Sept 29 – Gamuda Bhd’s net profit rose five per cent to RM1.052 billion for the financial year ended July 31, 2026 (FY2026), marking its fifth consecutive year of record earnings.

The infrastructure and property development group achieved an all-time high annual revenue of RM18.6 billion—a 14 per cent increase from the previous year—underpinned by robust domestic construction growth and an unbilled construction order book reaching RM61 billion.

“The construction segment remained the key earnings driver, with domestic construction earnings surging 49 per cent to RM461 million, driven substantially by the data centre segment. Including overseas projects, overall construction earnings grew 19 per cent to RM742 million,” Gamuda said in a statement.

For the fourth quarter ended July 31, 2026 (4Q FY2026), net profit rose five per cent to RM350 million, while quarterly revenue grew 19 per cent to RM5.8 billion.

The group noted a softer performance in its property division, where 4Q FY2026 revenue and net profit fell 14 per cent and 41 per cent, respectively, due to slower sales conversion across its Malaysian township developments.

Net gearing stood at 72 per cent at the end of July 2026, slightly exceeding Gamuda’s self-imposed threshold of 70 per cent. The increase was driven by strategic land acquisitions in Vietnam and Singapore aimed at replenishing its quick-turnaround property portfolio.

Despite the elevated gearing, Gamuda maintained a healthy cash flow profile, generating nearly RM800 million in surplus operating cash flow during the financial year.

Management expects gearing levels to moderate moving into FY2027, bolstered by steady cash inflows from its record RM61 billion construction backlog and RM7.6 billion in unbilled property sales.

In international developments, Gamuda highlighted that its flagship Eaton Park development in Vietnam is nearly sold out. Under Vietnamese real estate regulations, developers are permitted to collect up to 50 per cent of sales value during construction, with the remaining 50 per cent recognized upon final project delivery.

–NMT