4 days ago
- Business
- New Straits Times
Matrix Concepts beats FY25 sales target, eyes RM1.6bil launches in FY26
KUALA LUMPUR: Matrix Concepts Holdings Bhd recorded a 10.4 per cent increase in new property sales to RM1.38 billion for the financial year ended March 31, 2025 (FY25) from RM1.25 billion a year earlier.
The growth was driven by strong market demand and an increase in new launches across its diverse development portfolio.
The new property sales significantly surpassed the the property developer's sales target of RM1.3 billion, bolstered by strong performances from its projects.
This includes its core township developments, Sendayan Developments and Bandar Seri Impian, as well as the Klang Valley high-rise project, Levia Residences.
The sales also included the company's first industrial land sales from the highly anticipated Malaysia Vision Valley City (MVV City).
Taking advantage of favourable market conditions, Matrix Concepts launched projects with a total gross development value (GDV) of RM1.45 billion in FY25, a 9.8 per cent rise from RM1.32 billion last year.
The overall take-up rate for FY25 launches stood at 73 per cent as of March 31, 2025, indicating strong buyer confidence.
Datuk Mohamad Haslah Mohamad Amin said that surpassing the FY25 sales target reflects the enduring trust and confidence of homeowners across generations.
Datuk Mohamad Haslah Mohamad Amin said the FY25 surpassing our sales target for the year reflects the lasting trust of homeowners across generations.
He stated that for nearly three decades, the commitment to delivering premium-quality, trend-driven homes at accessible prices has driven strong take-up across Matrix Concepts' developments in Negri Sembilan, Johor and the Klang Valley.
"FY26 is positioned for transformative growth, supported by a launch target of RM1.6 billion in GDV of new projects.
"These upcoming launches include the first phase of the MVV City's industrial land, a key catalyst for our next growth phase.
"Spanning 964.1 hectares with a projected GDV of RM15 billion, the MVV City development is poised to provide a clear earnings trajectory in the near term and reinforce our long-term confidence," Mohamad Haslah added.
In FY25, the company's revenue declined 11.2 per cent to RM1.19 billion from RM1.34 billion previously due to the timing of launches and revenue recognition for properties sold in Sendayan Developments and Bandar Seri Impian.
Its net profit also fell 12 per cent to RM214.1 million from RM244.3 million previously.
Matrix Concepts' unbilled sales stood at RM1.46 billion as of March 2025, providing significant earnings visibility for the next 15 to 18 months.
The company declared a fourth quarter interim dividend of 1.35 sen per share that will be paid on July 10, 2025.
Mohamad Haslah said the company is expanding its footprint within the high-growth Klang Valley region, particularly Selangor.
He said the recent investments have established a robust platform for future developments in the Banting and Sepang areas.
"Beyond our core property development activities, we are strategically expanding into high-potential sectors such as hospitality, education and healthcare.
"These complementary ventures are designed to create diversified and recurring income streams, strengthening our resilience and enhancing long-term value creation," he added.
