KUALA LUMPUR (Aug 26): Paramount Corp Bhd (KL:PARAMON) saw its second-quarter net profit rise 33% year-on-year (y-o-y), underpinned by stronger contributions from its property segment.

Net profit for the three months ended June 30, 2026 (2QFY2026) came in at RM29 million, or 4.66 sen per share, compared with RM21.8 million, or 3.50 sen per share, a year earlier, the property developer said in a bourse filing on Wednesday.

Revenue grew 20% y-o-y to RM277 million from RM230 million. The property segment, which drove the improved quarterly performance, recorded a 21% increase in revenue, mainly driven by the sale of an industrial lot at the Bandar Lunas development in Kedah and contributions from The Atera and The Ashwood residential developments in the Klang Valley.

Paramount declared a single-tier interim dividend of three sen per share, unchanged from a year earlier, payable on Sept 24.

For the cumulative six-month period ended June 30, 2026 (1HFY2026), net profit rose 20% y-o-y to RM43.4 million from RM36.2 million, despite revenue declining 4% to RM429.2 million from RM446.4 million.

Property sales during 1HFY2026 totalled RM413 million in gross development value (GDV), down 21% from RM525 million a year earlier amid lower launch value over the past 12 months.

Group chief executive officer Jeffrey Chew said the property market is showing signs of moderating after several years of growth, while geopolitical uncertainties and persistent cost pressures continue to weigh on market sentiment.

“Against this backdrop, we took a more prudent approach to assess each project carefully against market demand, product positioning and timing, and pace new launches according to market conditions,” he said in a separate statement.

As at end-June, Paramount had approximately RM1.3 billion worth of completed and ongoing properties available for sale. The group also had RM1.5 billion in unbilled sales.

Looking ahead, the group said it will continue to focus on sales conversion through targeted marketing initiatives.

The group plans to launch new developments with an estimated GDV of RM1.6 billion in the second half of 2026, compared with RM100 million in the first half, including two sizeable projects targeted for launch in the fourth quarter — a landed residential development in Shah Alam and a premium high-rise residential development in the U-Thant enclave in Kuala Lumpur.

Paramount also remains committed to replenishing its land bank to support its development pipeline. As at June 30, the group’s undeveloped land bank stood at approximately 548.6 acres.

It has also signed four land purchase agreements that are pending completion. The acquisitions are expected to add about 74.6 acres to its undeveloped land bank, with a combined estimated GDV of RM1.9 billion.

Shares of Paramount fell one sen, or 1%, to close at RM1.01 on Wednesday, giving the company a market capitalisation of RM629 million.