IOI Prop’s Q1 Profit Surges Nearly 10 Fold To RM664 Million

IOI Properties Group Berhad kicked off the financial year ending 30 June 2026 with a robust performance, reporting a 41% increase in revenue to RM968.7 million for the first quarter, compared to RM687.9 million in the same period last year.

The growth was driven across all three core business segments: Property Development, Property Investment, and Hospitality & Leisure, which recorded segment growth of 47%, 31%, and 44% respectively.

Profit before tax surged more than fivefold to RM753.6 million, up from RM133.7 million in Q1 FY2025. Meanwhile, profit after tax for Q1 was RM664 million, a massive leap from R69 million achieved in the same quarter a year before.

This strong performance was largely attributed to a remeasurement gain of RM502.8 million following the completion of the South Beach acquisition, alongside improved contributions from the Property Development and Property Investment segments.

“We are pleased to kick off the new financial year on an encouraging note, underpinned by the resilience of our core business segments. While global economic challenges may persist, the favourable interest rate outlook in Singapore and the positive prospects for the hospitality sector ahead of Visit Malaysia 2026 augur well for the Group,” said Mr. Lee Yeow Seng, Group CEO of IOIPG. He added that barring unforeseen events, the Group expects its financial performance for the year to remain satisfactory.

In Q1 FY2026, Property Development sales reached RM473.6 million, with local projects contributing RM384.2 million (81%) and projects in China adding RM89.4 million (19%). Within Malaysia, the Klang Valley region led sales at RM243.4 million, driven by the matured township of 16 Sierra in Puchong South and the new Senna Puteri township in Salak Tinggi, Sepang. Meanwhile, the Johor region contributed RM141.7 million, supported by townships Bandar Putra Kulai and Taman Kempas Utama.

The strong start reflects IOIPG’s strategic focus on high-performing local and overseas developments, positioning the Group for continued growth across its diversified property and hospitality portfolio.