PETALING JAYA: Paramount Corporation Bhd posted a profit before tax (PBT) of RM22.6 million (Q1’24: RM17 million) for the first quarter of 2025 (Q1’25) supported by revenue of RM217.8 million (Q1’24: RM172.6 million).
Profit attributable to shareholders rose by 87% to RM14.4 million (Q1’24: RM7.7 million).
The property segment remains the group’s primary revenue driver, contributing RM205.9 million in Q1’25, a 27% increase from the RM161.8 million recorded in Q1’24. The three biggest contributors were The Atera, a transit oriented mixed development in Petaling Jaya; Utropolis Batu Kawan, a mixed development in Penang; and Paramount Palmera Industrial Park, also in Penang.
Correspondingly, PBT for the property segment was 40% higher at RM32.2 million (Q1’24: RM23 million) underpinned by higher revenue.
Boosted by broader product offerings available for sale after a record RM2.4 billion launches in 2024, property sales more than doubled to RM230 million in Q1’25, from a low base of RM101 million the year before that was impacted by deferred launches.
The top contributors in Q1’25 sales were The Ashwood at U-Thant in Kuala Lumpur, followed by The Atera in Petaling Jaya, which is also Paramount’s largest on-going project, and Paramount Embun Hills, a new development next to the Bukit Mertajam Forest Park.
Paramount Group CEO Jeffrey Chew said he was pleased with the sales momentum to date, noting that The Ashwood at U-Thant, Kuala Lumpur, had reached 90% sales as of mid-May 2025.
“Meanwhile, The Atera, which is Paramount’s largest on-going project, is doing well with Phase 1 achieving 91% sales as of mid-May. In response to steady demand, we have launched Lumeo, the second phase.”
“In Bukit Mertajam, The Shoppes at Paramount Embun Hills, comprising 30 units of shop offices, were fully booked within an hour of its launch in January 2025. We believe its strong value proposition as a vibrant lifestyle hub by the hills and its strategic location along Jalan Kulim, contributed to the overwhelming response.”
Paramount had launched RM62.4 million worth of properties in Q1’25 (including Paramount Embun Hills) as part of its planned RM1.4 billion pipeline for the entire year.
“We look forward to a strong response when we launch Phase 1 of its residential component in the middle of the year, with its cluster and double storey terrace homes. Paramount Embun Hills is a strata development, gated and guarded, and has been master-planned for GreenRE certification.”
Chew added that Paramount Property’s sustained success as the people’s developer was due to its ability to consistently deliver strong value propositions.
“At Utropolis Batu Kawan, Penang, we offered yet another compelling value proposition with the launch of Seiras Residences in May 2025, the fifth phase of our high-rise residential homes, featuring dual- and triple-key layouts.”
“Seiras Residences’ triple-key layout offers three self-contained living spaces, each with a private balcony and en-suite bathroom, ideal for homeowners seeking both privacy and rental income. This unique co-living concept is the first in the northern region of the peninsula,” he said.
Chew said the group will strive to meet its 2025 sales target of RM1.5 billion along with on-going projects contributing to the group financial performance for the financial year ending Dec 31, 2025.
The group’s unbilled sales (RM1.6 billion as at March 31, 2025) will provide near-term visibility on the group’s cashflow though the conversion into billings will largely depend on work progress.
The Q1’25 co-working segment’s revenue of RM6.6 million was 75% higher year-on-year (Q1’24: RM3.8 million). Despite the higher revenue, the co-working segment maintained a loss before tax (LBT) of RM0.5 million in Q1’25, unchanged from the previous year.
The loss was largely due to rental costs incurred for the NU Sentral space—the business’s eighth co-working outlet—during its pre-opening renovation phase, as the space only commenced operations in May 2025. The segment also saw an increase in headcount at Scalable Malaysia, its design and build business that has been growing.
Chew said he was optimistic about the newly opened co-working space at NU Sentral Shopping Centre, noting its strategic location adjacent to the KL Sentral transportation hub.
