KUALA LUMPUR (March 6): Gamuda Bhd (KL:GAMUDA) said on Friday its net profit rose 5% in the recently-ended quarter from a year earlier, as a pick-up in domestic projects offset slower foreign billings.

Net profit at Malaysia’s biggest construction firm by revenue was RM229.52 million for the three months ended Jan 31, 2026 (2QFY2026), the company said in an exchange filing. Revenue for the quarter climbed 10% year-on-year to RM4.3 billion.

“This year’s earnings performance will be largely driven by the domestic construction projects including construction of several data centres,” Gamuda said. The company also expects higher income from ‘quick turnaround’ projects, especially Vietnam’s Eaton Park that has generated robust sales with higher margins.

No dividend was announced for the quarter under review.

For the first half of FY2026, net profit rose 4.8% to RM444.65 million from RM424.24 million a year earlier, while revenue edged up 1.3% to RM8.14 billion.

By segment, construction revenue grew 1% and earnings rose 8%, supported by domestic projects, though overseas contributions tapered with the near completion of several Australian contracts.

Property sales fell 9% to RM1.6 billion following the completion of Celadon City in Ho Chi Minh City, while new projects in Vietnam — including QTP and Hanoi Parcel A — remain pending launch and approval.

Overall, property revenue rose 3%, but net profit slipped 1% as contributions from Celadon City tapered and new projects are still in early stages.

As at end-January, Gamuda’s construction order book stood at a record RM44 billion, while unbilled property sales amounted to RM8 billion.

Gamuda shares closed three sen lower at RM4.15 on Friday, giving it a market capitalisation of RM24.61 billion.