Malaysian property developer Paramount Corp Bhd reported a significant jump in first-quarter earnings, showcasing strong performance in its real estate division. The company’s net profit nearly doubled to RM14.4 million for the period ending March 31, 2025, compared to RM7.71 million in the same quarter last year, with revenue climbing 26% to RM217.84 million.
The growth was fueled by successful projects in Petaling Jaya and Penang, particularly The Atera in Selangor, Utropolis Batu Kawan, and Paramount Palmera. These developments contributed to a 40% increase in the property segment’s pre-tax profit, reaching RM32.2 million. However, higher financing costs from sustainability-linked sukuk and new borrowings weighed on the company’s investment division.
Despite the positive results, Paramount did not declare dividends for the quarter. The firm remains focused on its RM1.4 billion development pipeline, having already launched RM62.4 million worth of properties in early 2025. CEO Jeffrey Chew emphasized disciplined financial management and operational efficiency as key drivers for meeting its RM1.5 billion annual sales target.
With unbilled sales totaling RM1.6 billion as of March, the company anticipates steady cash flow conversion as projects progress. Paramount’s strategic approach aims to sustain momentum while navigating market uncertainties, reinforcing its position in Malaysia’s competitive real estate sector.