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- Quarterly revenue rose 4.8% to RM354.61 million from RM338.52 million in 3QFY2024, supported by stronger progress billings from earlier project launches.
KUALA LUMPUR (Nov 27): Johor-based property developer KSL Holdings Bhd (KL:KSL) reported a flat third-quarter net profit as higher cost of sales, administrative expenses and finance costs offset revenue growth.
The group posted a net profit of RM101.86 million for the quarter ended Sept 30, 2025 (3QFY2025), little changed from RM101.18 million a year earlier. Earnings per share slipped to 9.66 sen from 9.95 sen.
Quarterly revenue rose 4.8% to RM354.61 million from RM338.52 million in 3QFY2024, supported by stronger progress billings from earlier project launches. The group did not declare a dividend for the quarter.
In a statement on Thursday, KSL said it achieved RM1.14 billion in property sales in the first 10 months of 2025—95% of its RM1.2 billion full-year target—as the group benefits from strong take-up for its development projects across Johor. October alone contributed RM309.6 million, driven by new flagship residential launches.
“Surpassing the RM1 billion sales milestone validates our mission to deliver competitively priced properties to meet rising demand from Johor’s growing population,” executive director Khoo Lee Feng said.
The group plans to accelerate project launches with RM3.6 billion targeted for 2025, up from RM2.1 billion in 2024, and aims to maintain strong financial performance through accessible, high-quality housing offerings. KSL launched projects with a cumulative gross development value (GDV) of RM1.9 billion in the first nine months of the year, spanning high-rise units and landed townships.
"Our investment properties in Selangor and Johor also continue to contribute strongly to the group, providing a resilient income base. With the rapid transit system (RTS) link and Johor-Singapore Special Economic Zone (JS-SEZ) reshaping the economic landscape as further tailwinds, our momentum not only paves the way for an even stronger performance in FY2026 but also reinforces our capability to deliver sustainable value and dividends to our shareholders,” she said.
Upcoming launches include D’Secret Garden 2 @ Kempas, with an estimated GDV of RM652 million, and Ceros @ Gelang Patah, with a GDV of RM500 million.
For the cumulative nine-month period (9MFY2025), KSL's net profit fell 15.5% to RM267.61 million from RM316.83 million a year earlier, while revenue was down 2.2% to RM965.8 million from RM987.75 million in 9MFY2024.
The group reported RM1 billion unbilled sales as at end-October 2025, providing earnings visibility.
KSL shares closed two sen or 0.69% lower at RM2.87 on Thursday, giving it a market capitalisation of RM2.97 billion. The stock has risen 65.32% year to date.
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