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- Net profit for the quarter rose to RM23.5 million from RM12.9 million a year earlier, the master developer of i-City said in a bourse filing on Friday. Revenue climbed 31% to RM81.3 million from RM61.2 million in 3QFY2024.
KUALA LUMPUR (Oct 24): Property developer I-Bhd (KL:IBHD) posted an over 81% jump in net profit for the third quarter ended Sept 30, 2025 (3QFY2025), driven by stronger contributions from its property development and investment segments, efficient cost management, and a one-off fund recovery following project completions.
Net profit for the quarter rose to RM23.5 million from RM12.9 million a year earlier, the master developer of i-City said in a bourse filing on Friday. Revenue climbed 31% to RM81.3 million from RM61.2 million in 3QFY2024.
The property development segment recorded RM42.1 million in revenue, up 51% year-on-year, driven by progressive billings from BeCentral Serviced Residences and strong sales momentum within i-City and 8 Kia Peng.
This lifted the segment’s profit before tax, which more than doubled to RM16.1 million from RM5.9 million in 3QFY2024.
No dividend was declared for the quarter under review.
For the nine-month period of FY2025, I-Bhd’s net profit nearly doubled to RM44.9 million from RM22.5 million, while revenue increased more than 30% to RM205.6 million from RM158.1 million previously.
In a statement, I-Bhd chairman Tan Sri Lim Kim Hong said the group, with about RM5 billion in remaining projects at i-City, is well positioned to sustain steady earnings.
“Our strategy is anchored on maintaining a balanced and synergistic portfolio across property development, investment, and leisure assets while continuously expanding recurring income,” he said.
Lim added that the group’s plan to roll out robotics-as-a-service (RaaS) across its RM1 billion investment property portfolio aims to enhance asset performance and create new income streams.
“Our plans to realise the remaining RM5 billion gross development value through AI and robotics will ensure consistent value creation and transform i-City into a world-class, state-of-the-art destination city,” he added.
Shares in I-Bhd traded half a sen or 2% lower at 24.5 sen at the midday break on Friday, giving the company a market capitalisation of RM455 million.
As Penang girds itself towards the last lap of its Penang2030 vision, check out how the residential segment is keeping pace in EdgeProp’s special report: PENANG Investing Towards 2030.
