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PETALING JAYA (May 29): Eversendai Corp Bhd has secured four engineering and construction contracts in Singapore and India worth about RM400 million, lifting its outstanding order book to around RM2.6 billion.
The group, an integrated specialist in the design, engineering, supply, fabrication and erection of steel structures, said in a press statement that the latest wins span an integrated civic development in Singapore, a state administration tower in Andhra Pradesh and two high-rise projects in Mumbai.
For the first quarter ended March 31, 2026 (1QFY2026), revenue rose 26.4% year-on-year to RM513.4 million, driven by ongoing structural steel and construction works across Southeast Asia, India and the Middle East. Despite the stronger top line, profit before tax declined to RM8.2 million from RM11.7 million, while profit for the period fell to RM2 million from RM7 million.
Profit attributable to equity holders of the company, however, edged up to RM2.7 million in 1QFY2026 from RM2.5 million a year earlier, translating into basic earnings per share of 0.34 sen compared with 0.31 sen previously. No dividend was proposed for the quarter.
New contracts in Singapore and India
In Singapore, Eversendai has been awarded a contract by Kajima Overseas Asia Singapore Pte Ltd for the Toa Payoh Integrated Development, which will comprise a polyclinic, library, sports facilities, stadium, town park and basement levels.
In India, the group secured a key project in Amaravati, Andhra Pradesh, for an integrated office building forming part of the Secretariat Towers development. The 40-storey tower is intended to house state-level head-of-department offices and is designed with column-free interiors supported by a central core and external diagrid steel structure to improve construction efficiency and architectural flexibility.
Eversendai said the tower will use composite metal decking with steel framing to support faster construction and reduce structural load, with the diagrid system requiring high precision at beam connections.
In Mumbai, the group has secured a contract from Larsen & Toubro Ltd for structural steel long-span works at the Prestige Tower Y development, covering steel fabrication and erection as well as associated engineering design work.
Separately, Eversendai has been appointed by The New Era Agencies Private Ltd to deliver a high-rise residential project known as Dhuleva One 50 at Malabar Hill, Mumbai, on a cost-plus contract basis.
Order book, outlook and Middle East exposure
Eversendai said the newly secured contracts bring its remaining order book to about RM2.6 billion, providing earnings visibility. It added that projects such as the Qiddiya Speed Park development in Saudi Arabia, the Dragados project in the United Arab Emirates, the DLF Taramani project in India and its Southeast Asian jobs are progressing well.
The group noted that it remains cautious amid geopolitical developments in the Middle East but is confident of managing the impact of the current environment, and that management continues to focus on operational efficiency and disciplined project delivery.
In a statement, executive chairman and group managing director Tan Sri A K Nathan said the group remains on a solid footing, supported by its order book, an active tender pipeline and sustained demand for its engineering and construction expertise. He added that continued support from longstanding clients, stakeholders and employees “reaffirms the group’s market positioning, underlying strength and operational resilience”, and that Eversendai’s commitment to safety, quality and timely delivery remains intact despite external headwinds.
The group also noted that the latest contract awards come after the termination in March of its structural steel contract for the Trojena Ski Village project in Saudi Arabia, which had been awarded in March 2024 through a joint venture with a local partner and was originally scheduled for completion in 2026, amid heightened geopolitical tensions in the region.
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