PETALING JAYA (May 29): Eversendai Corp Bhd has secured four new engineering and construction contracts in Singapore and India with a combined value of approximately RM400 million, boosting its outstanding order book to around RM2.6 billion.
The integrated steel structure specialist said the newly awarded projects cover major civic, commercial and residential developments, strengthening the group’s presence in key regional markets.
For the first quarter ended March 31, 2026 (1QFY2026), Eversendai recorded a 26.4% year-on-year increase in revenue to RM513.4 million, supported by ongoing structural steel and construction activities across Southeast Asia, India and the Middle East.
Despite stronger revenue, profit before tax declined to RM8.2 million from RM11.7 million a year earlier, while profit for the period fell to RM2 million compared with RM7 million previously.
However, profit attributable to equity holders improved slightly to RM2.7 million from RM2.5 million, translating into earnings per share of 0.34 sen versus 0.31 sen in the corresponding quarter last year. No dividend was declared for the quarter.
Singapore and India Projects Expand Regional Presence
In Singapore, Eversendai secured a contract from Kajima Overseas Asia Singapore Pte Ltd for the Toa Payoh Integrated Development. The project will include a polyclinic, library, sports facilities, stadium, public park and basement infrastructure.
In India, the group won a major contract in Amaravati, Andhra Pradesh, involving an integrated office tower within the Secretariat Towers development. The 40-storey building is designed with column-free interiors supported by a central core and external diagrid steel structure to improve efficiency and architectural flexibility.
The tower will also incorporate composite metal decking with steel framing to accelerate construction timelines and reduce structural weight, while the diagrid system requires high-precision engineering at beam connection points.
In Mumbai, Eversendai secured a contract from Larsen & Toubro Ltd for structural steel long-span works at the Prestige Tower Y project, covering fabrication, erection and engineering design services.
Separately, the group was appointed by The New Era Agencies Private Ltd for the Dhuleva One 50 luxury residential high-rise project at Malabar Hill, Mumbai, under a cost-plus contract arrangement.
Order Book Provides Earnings Visibility
Eversendai said the latest contract wins have increased its remaining order book to approximately RM2.6 billion, providing continued earnings visibility for the group.
The company added that several ongoing projects are progressing steadily, including the Qiddiya Speed Park development in Saudi Arabia, the Dragados project in the United Arab Emirates, the DLF Taramani development in India and various Southeast Asian projects.
While remaining cautious over geopolitical uncertainties in the Middle East, the group said it is confident in managing operational risks through disciplined project execution and efficiency measures.
Executive chairman and group managing director Tan Sri A K Nathan said Eversendai remains supported by a strong order book, active tender pipeline and continued demand for its engineering and construction expertise.
He added that continued support from long-term clients, stakeholders and employees reinforces the group’s operational resilience and market positioning despite external challenges.
What We Learn from This
Eversendai’s latest contract wins demonstrate the group’s ability to maintain regional growth momentum despite ongoing geopolitical uncertainties, particularly in the Middle East.
The increase in revenue and expansion of its RM2.6 billion order book indicate that demand for complex structural steel and engineering expertise remains strong across Asia. The projects secured in Singapore and India also show the company’s strategic diversification beyond the Middle East market, helping reduce concentration risk.
Although profitability remains under pressure due to cost and operational challenges, Eversendai’s improving earnings attributable to shareholders and active tender pipeline suggest the company is positioning itself for longer-term stability and growth.
The company’s focus on high-value infrastructure, integrated developments and high-rise projects also highlights the growing demand for advanced steel engineering solutions in rapidly urbanising cities across Asia.
Yao Mu Realty, based in Kuala Lumpur, Malaysia, specializes in industrial real estate for factories and land, delivering professional and efficient solutions.
Posted by Yao Mu Realty Sdn Bhd on 30 May 26
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