Glomac lines up RM371m in FY2027 launches across landed and commercial projects

Glomac Bhd has unveiled approximately RM371 million in new launches for FY2027, comprising landed homes and commercial properties. The group reported RM163 million in products introduced to date, with a further RM208 million planned for the third quarter, and highlighted unbilled sales of RM546 mill

PETALING JAYA (Oct 22): Property developer Glomac Bhd has lined up approximately RM371 million in launches for its financial year ending April 30, 2027 (FY2027), comprising landed homes and commercial properties.

In a press release filed with Bursa Malaysia on Thursday (Oct 22) in conjunction with its 42nd annual general meeting, the group said it had introduced RM163 million worth of new products to date, with a further RM208 million in launches planned for the third quarter of FY2027. The products introduced include 16 Legacy @ Saujana Rawang, comprising semi-detached homes; QAYA @ Saujana Perdana, with 55 commercial shop offices; and Serai 3 @ SBCR, a new phase of landed homes. Upcoming launches include shop offices at Saujana KLIA.

Glomac said its unbilled sales stood at RM546 million at the end of the financial year ended April 30, 2026 (FY2026), providing visibility for future revenue recognition as construction progresses. Its approximately 600-acre landbank has a potential gross development value exceeding RM6 billion.

At the AGM, shareholders approved a single-tier final dividend of 1.38 sen per share for FY2026, payable on Dec 16 to shareholders on the register as at Dec 1. All nine ordinary resolutions tabled at the meeting were passed.

For FY2026, Glomac reported revenue of RM226.2 million, pretax profit of RM32.7 million and profit after tax of RM20.2 million. The group said property development remained its core earnings contributor, while lower finance costs and tax expenses supported profitability. Cash and bank balances stood at RM218.9 million as at April 30, 2026, while net asset value per share was RM1.58. The group described its net gearing as negligible.

Meanwhile, Glomac said it had begun a phased rejuvenation of Glo Damansara, introducing a refreshed brand identity and new tenants, alongside an evolving mix of dining, lifestyle, sports, wellness and edutainment offerings. The group said it would continue to unlock value from its existing landbank and investment assets while managing construction cost and inflationary pressures.