KUALA LUMPUR (May 26): LBS Bina Group Bhd’s (KL:LBS) net profit fell 39.67% to RM17.03 million for the quarter ended March 31, 2026 (1QFY2026) from RM28.23 million a year ago, weighed down by slower activity in property development.

Its construction and trading segment saw an over fourfold jump to RM3.1 million from RM80,000 the year before, while its management and investment segment lost RM800,000 in the current quarter, compared with a loss before tax of RM1.8 million, according to the group's bourse filing on Tuesday.

No dividend was announced for the quarter under review.

Revenue for 1QFY2026 dropped to RM296.5 million from RM329.2 million a year earlier, as the property development segment’s contribution dropped 20% due to the completion or near completion of certain development projects.

Its property development segment contributed (85.3%) of total revenue, followed by construction and trading at (12.7%), while others as well as management and investment made up the remaining 2%.

Looking ahead, LBS Bina said it remains cautiously optimistic about navigating 2026 amid elevated global energy prices, banking on its historical resilience during economic downturns.

Despite these broader economic challenges, the group highlighted its recorded sales of RM395 million alongside RM302 million in bookings as of May 25, driven by diversified demand across residential, industrial and highland-living residences.

‘’This sales momentum is expected to continue through the remainder of the year,” LBS Bina noted.

In April, the group launched Idaman Cahaya 3 located in Shah Alam with a gross development value of RM117 million, expanding its orderbook to RM1.1 billion.

LBS Bina is also eyeing the start of development within the Kwasa Damansara township. This project represents an expansion into a new market segment for the group, aimed at diversifying its property portfolio.

As at market close on Tuesday, LBS Bina shares were down one sen or 2.17% at 45 sen, valuing the company at RM706.6 million.