PETALING JAYA: Gamuda Bhd’s net profit for the fourth quarter ended July 31, 2026 (Q4’26) rose 5.3% to RM349.7 million from RM332.1 million a year earlier, driven by stronger contributions from domestic construction projects, particularly data centres.
According to a filing with Bursa Malaysia, quarterly revenue increased 18.9% to RM5.76 billion from RM4.84 billion previously.
The group’s construction division recorded a 27% increase in quarterly revenue to RM4.92 billion, while net profit jumped 48.8% to RM255.6 million from RM171.8 million previously.
Gamuda said the stronger performance was driven by increased contributions from domestic projects, especially the data centre segment.
Meanwhile, the property division’s quarterly revenue fell 13.7% to RM907.4 million from RM1.05 billion, while net profit declined 41.3% to RM94.1 million from RM160.3 million, due to slower sales conversion across Malaysian townships.
On a quarter-on-quarter basis, Q4’26 net profit rose 36% from RM258 million in Q3’FY26, mainly due to higher contributions from the construction and property divisions.
For the full financial year ended July 31, 2026 (FY26), net profit rose 4.9% to RM1.05 billion from RM1 billion, while revenue increased 14.8% to RM18.33 billion from RM15.97 billion.
Gamuda said FY26 marked its fifth consecutive year of record earnings, while its construction orderbook reached an all-time high of RM61 billion.
Construction revenue and earnings for FY26 rose 19%, with domestic construction earnings increasing 49%, offsetting lower overseas contributions as the first batch of Australian projects reached completion.
The property division, meanwhile, recorded a 2% decline in revenue to RM3.7 billion and an 18% drop in earnings to RM311 million, amid softer domestic demand and pending launches and approvals for several newly acquired quick-turnaround projects.
For FY27, the group expects earnings to be predominantly anchored by domestic construction projects, including hyperscale data centre builds, alongside stronger profit recognition from quick-turnaround property projects in Vietnam and Singapore.
Its earnings visibility is underpinned by the RM61 billion construction orderbook and RM7.6 billion in unbilled property sales.
Gamuda said its net gearing rose to 72% at end-July 2026 from 53% a year earlier, exceeding its self-imposed 70% limit following landbank acquisitions in Vietnam and Singapore.
It expects gearing to decline from FY27 as revenue and cash flow are generated from its construction orderbook and unbilled property sales.
The group generated almost RM800 million in surplus cash from operating activities during FY26, with almost all of the surplus generated in Q4. Its interest cover stood at 3.3 times, while its current ratio was 1.5 times.
Gamuda secured RM25.1 billion in new awards during FY26, including a RM2.2 billion Kaohsiung Metropolitan Mass Rapid Transit project in Taiwan in Q4.
This brought its new awards for the year to RM25.1 billion, while awards secured after July lifted its total to RM37.4 billion.
Among the post-July awards were three Port Dickson hyperscale data centre projects with a combined group share of RM5.1 billion, an AIMS data centre project worth RM400 million, and several renewable energy and infrastructure projects in Australia.
Separately, Gamuda said a consortium involving its energy arm had on Sept 28 entered into a term sheet with a US-headquartered multinational technology company for a proposed 21-year bilateral energy supply contract.
The consortium, comprising SD Guthrie Renewable Energy Sdn Bhd, Gentari Renewables Sdn Bhd and Gamuda Energy Sdn Bhd, plans to develop a hybrid utility-scale solar photovoltaic plant with a minimum net capacity of 680MWac and a four-hour battery energy storage system in Perak.
The project will supply renewable energy to the technology company’s data centres, with final execution of the contract and related Corporate Renewable Energy Supply Scheme agreements targeted for Q1 2027 and commercial operations targeted for 2029.
Gamuda said the project is estimated to generate gross revenue exceeding RM10 billion over the proposed 21-year offtake period.
The group also said its Australian subsidiary had on Sept 28 secured an AUD790 million, or about RM2.28 billion, engineering, procurement and construction contract for the Mortlake Energy Hub Stage 1, involving a 300MW hybrid renewable energy facility comprising a 435MWp solar array and a 1,449MWh battery energy storage system.
