KUALA LUMPUR: Property developer Paragon Globe Bhd (PGB) announced its strongest-ever financial performance for the third quarter (Q3) of the financial year ending March 31, 2025 (FY25), reflecting the group’s robust business fundamentals and strategic growth initiatives.
For Q3 FY25, PGB reported revenue of RM70.6 million, a significant 318.5% year-on-year (YoY) increase from RM16.9 million in the same period last year.
The group’s net profit rose to RM37.4 million, making a turnaround from a net loss of RM2.1 million in the same quarter last year.
The strong performance was primarily driven by strategic land disposals in Desa Cemerlang and continued sales of detached factories and shop offices in Pekan Nenas.
Executive chairman Datuk Sri Edwin Tan Pei Seng expressed confidence in the group’s trajectory, citing its ability to capitalise on emerging opportunities in Johor’s evolving economic landscape.
“Our exceptional results reflect the strength of our business strategy, where we unlock the value of our land bank while driving sustainable property development.
“The strong revenue growth and improved earnings underscore our focus on executing high-value projects that contribute to the region’s economic expansion,” he said.
For the cumulative nine-month (9M) period of FY25, the group’s revenue reached RM154.7 million, representing a 258.8% YoY increase.
Net profit rose substantially to RM52.3 million, compared to a net loss of RM2.6 million in the same period of FY24.
PGB’s financial strength is further supported by a positive net cash flow generated from operating activities, amounting to RM17.9 million for the nine-month period ended December 31, 2024, as compared to a negative cash flow of RM124.7 million in the corresponding period a year ago.
The property development segment remained PGB’s primary revenue contributor, accounting for 99.9% of total revenue.
The strong financial results were mainly attributed to the successful disposal of 67.6 acres of industrial land in Desa Cemerlang and the sales of detached factories and shop offices in Pekan Nenas, Johor.
PGB is focused on delivering its upcoming projects, including Calia Residences and The Iconic in the Johor Bahru township and Kensington Parkview in Iskandar Puteri.
These projects are expected to elevate the group’s presence in Johor’s premium property market.
The Pekan Sentral Phase 3 and detached factories Type D2 projects in Pekan Nenas are progressing well. Up to RM38 million from the land disposal proceeds has been allocated to support their completion.
These projects will provide a solid foundation for the group’s continued expansion and reinforce its reputation as a trusted developer.
With the Johor-Singapore Special Economic Zone (JS-SEZ) initiative unlocking high-value investments, Johor is rapidly evolving into a regional economic powerhouse, attracting multinational companies, foreign direct investments, and skilled talent.
PGB’s strategic landbank and project pipeline place the group in a prime position to benefit from Johor’s transformation, particularly in high-GDV, ESG-driven and investment-grade real estate developments.
“Sustainability and strategic growth remain at the core of our business model.
“As we continue delivering on our commitments, we are confident in driving long-term value for our stakeholders while contributing to Johor’s economic progress,” Tan said.
