Petaling Jaya, 22 May 2026 – Paramount Corporation Berhad (Paramount) recorded a revenue of RM152.2 million for the first quarter ended 31 March 2026 (1Q2026), compared with RM216.5 million in the corresponding quarter last year, while profit before tax (PBT) stood at RM18.6 million against RM22.6 million previously. Profit attributable to equity holders remained stable at RM14.4 million (1Q2025: RM14.4 million).
Paramount Group Chief Executive Officer, Jeffrey Chew, said, “The Group’s first-quarter performance reflected softer market conditions and the timing of property launches. Nevertheless, our fundamentals remain intact, supported by healthy unbilled sales, strategic land banking activities and a diversified portfolio of businesses.”
The Group maintained healthy unbilled sales of RM1.5 billion as at 31 March 2026, providing near-term earnings visibility and cashflow support.
Adopting a prudent and measured operating approach, the Group is prioritising the marketing of launched but uncompleted units, alongside the monetisation of completed products, with an aggregate gross development value (GDV) of approximately RM1.4 billion as at 31 March 2026.
Property launches are expected to be concentrated in the second half of 2026, supported by the Group’s focus on well-located and established developments.
Planned launches include the first phase of the Group’s newly acquired land in Kulim, Kedah, aimed at capitalising on the expansion plans of the Kulim Hi-Tech Park, as well as a new landed residential development in Section U9, Shah Alam. In Kuala Lumpur, the Group will further strengthen its presence in the U-Thant enclave with the launch of two blocks of high-end serviced apartments, following the success of its fully sold developments, The Ashwood and The Atrium.
As part of the Group’s disciplined and forward-looking strategy to maintain a robust development pipeline, the Group has executed five land purchase agreements that are pending completion. These acquisitions comprise 78.3 acres of land with an estimated GDV of RM3.0 billion.
Property segmentThe property segment remained the Group’s main earnings contributor, recording a revenue of RM140.1 million (1Q2025: RM205.9 million) and PBT of RM22.6 million (1Q2025: RM30.9 million).
The lower revenue was mainly due to slower revenue recognition from projects in the early stages of construction and softer sales amid heightened economic and geopolitical uncertainties.
Paramount achieved property sales of RM152.0 million (1Q2025: RM230.0 million) in GDV in the quarter, supported primarily from prior-year launches and existing inventories. Property sales in 1Q2026 were primarily driven by The Atera, a transit-oriented development near the Asia Jaya LRT in Petaling Jaya; Bukit Banyan, a township project in Sungai Petani, Kedah; Sejati Residences, a township comprising landed homes in Cyberjaya; as well as completed commercial units at ATWATER in Petaling Jaya.
Coworking segment
The coworking segment recorded a revenue at RM4.7 million (1Q2025: RM6.6 million) and loss before tax (LBT) of RM0.8 million (1Q2025: RM0.5 million), affected by the additional fixed costs associated with newly opened coworking spaces.
During the quarter, Co-labs Coworking opened two new spaces, including its first location outside the Klang Valley at Mid Valley Southkey (South Tower) in Johor, as well as a single-tenant managed workspace in KL Eco City, Kuala Lumpur. Co-labs Coworking continues to strengthen its recurring income base through the expansion of its flexible workspace footprint and enterprise solutions offering.
Investment and others segment
The investment and others segment recorded a revenue of RM8.1 million (1Q2025: RM7.3 million) and LBT of RM3.3 million (1Q2025: RM7.9 million), supported by the higher revenue as well as contribution from the newly acquired associate, Envictus International Holdings Limited.
Looking ahead, the Group remains cautiously optimistic as it continues to focus on accelerating sales conversion, maintaining cost discipline and executing a market-responsive launch strategy amid ongoing global economic uncertainties and a softer market sentiment.