KUALA LUMPUR – Gamuda Bhd delivered another quarter of earnings growth in the third quarter ended April 30, 2026 (3QFY2026), supported by stronger domestic construction activity and a surge in project revenue as the group continued to secure major infrastructure and technology-related contracts across regional markets.
The construction and property group reported net profit of RM257.98 million for 3QFY2026, representing a 4.5% increase from RM246.84 million recorded in the corresponding quarter a year earlier.
Revenue climbed significantly by 43.6% to RM4.44 billion from RM3.09 billion previously, driven mainly by higher work progress from domestic construction projects. The stronger local contribution helped offset lower earnings from overseas projects, particularly in Australia, where several developments are approaching completion.
Gamuda also announced an interim dividend of five sen per share. Shareholders will have the option to reinvest the dividend into new Gamuda shares through the company’s Dividend Reinvestment Plan (DRP), subject to regulatory approval.
For the first nine months of FY2026, net profit rose 4.7% to RM702.63 million compared with RM671.08 million a year earlier, while revenue increased 13% to RM12.58 billion from RM11.13 billion.
The most significant development from Gamuda’s latest performance is the rapid expansion of its construction order book. During the quarter, the group secured RM11.7 billion worth of new contracts, bringing total contract wins for FY2026 to RM25.1 billion and lifting its outstanding construction order book to a record RM52 billion.
This record order book provides strong earnings visibility for the coming years and reinforces Gamuda’s position as one of Malaysia’s leading infrastructure and engineering groups.
Another important takeaway is the growing contribution of data centre-related projects to the company’s future earnings. Among the newly secured contracts were a hyperscale data centre project in Malaysia, alongside several ongoing data centre construction jobs. This reflects Gamuda’s increasing exposure to one of the fastest-growing segments within the industrial and infrastructure sectors.
The group’s international diversification strategy also remains intact. New project wins during the quarter included solar farm developments in Australia, a major water supply scheme in Malaysia and a mass rapid transit (MRT) project in Taiwan, demonstrating Gamuda’s ability to secure large-scale projects across multiple markets and sectors.
Beyond construction, Gamuda expects stronger contributions from its property segment, particularly from the Eaton Park development in Vietnam.
Management highlighted that the project has achieved robust sales performance and is generating higher profit margins, positioning it as a key earnings driver moving forward.
The group's expanding presence in Vietnam and Singapore also reflects its long-term strategy of building a diversified regional property portfolio.
Gamuda’s gearing ratio increased to 73% from 53% a year ago following recent land acquisitions in Vietnam and Singapore, as well as ongoing development expenditure.
However, management expects leverage levels to moderate next year as project cash flows strengthen and developments progress.
The higher gearing should therefore be viewed in the context of expansion and future growth rather than operational weakness.
Looking ahead, Gamuda’s earnings outlook remains supported by three key growth pillars: its record RM52 billion construction order book, increasing involvement in data centre developments, and stronger property contributions from regional projects.
The company is also benefiting from Malaysia’s infrastructure expansion, renewable energy investments and the accelerating demand for data centre capacity across Southeast Asia.
Overall, the latest results highlight Gamuda’s ability to maintain earnings growth while simultaneously expanding its project pipeline. With record contract wins, growing exposure to high-value sectors and improving property contributions, the group appears well positioned to sustain long-term growth despite a more challenging global economic environment.
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 26 Jun 26
Malaysia