KUALA LUMPUR (July 1): Binastra Corp Bhd (KL:BNASTRA) has secured its second data centre project in Kuala Lumpur this year, worth RM491.16 million, to be developed on another plot of land in Jalan Sri Permaisuri, Kuala Lumpur.
On Feb 4, Binastra secured a RM503 million contract for a data centre project, also located at Jalan Sri Permaisuri.
In a bourse filing on Wednesday, the group said its wholly owned subsidiary Binastra Builders Sdn Bhd had accepted a letter of award from Exsim Sri Permai Sdn Bhd. The project is scheduled to commence on July 1, 2026, and is expected to be completed within 18 months from the start date.
The contract involves the design, construction, testing and commissioning, as well as maintenance and warranty works on a turnkey basis.
The scope of works includes foundation, substructure, main building and infrastructure works, comprising one block of a seven-storey data centre building, a guardhouse, a refuse room and an electrical substation.
The group said the contract is expected to contribute positively to its earnings, earnings per share and net assets for the two financial years ending Jan 31, 2027 and Jan 31, 2028.
In its latest financial results, Binastra reported a 40.3% increase in net profit for the first quarter ended April 30, 2026 (1QFY2027) to RM35.27 million, compared with RM25.14 million a year earlier. Revenue reached a record high of RM605.57 million, up from RM256.85 million, driven mainly by higher solar installation projects and stronger contributions from its conventional construction and data centre businesses.
According to Bloomberg, all nine analysts covering the stock have maintained “buy” calls, with target prices ranging from RM2.68 to RM3.12. The 12-month average target price stands at RM2.87.
At midday break on Wednesday, Binastra shares were down four sen or 1.94% at RM2.02, valuing the construction group at a market capitalisation of RM2.21 billion.