S P Setia Bhd demonstrated resilience in the first quarter of 2025, posting a revenue of RM771 million for the period ending March 31. The company announced an interim profit before tax of RM141 million and a net profit after tax of RM89 million. S P Setia is targeting sales of RM4.8 billion for the financial year ending December 31, 2025. This impressive progress accelerates their cutting-edge ambitions.
With a huge landbank of over 5,364 acres, the company has no shortage of ammunition. This land has a remarkable GDV of RM120.1 billion. In the 1Q alone, S P Setia registered stellar sales of RM718 million. Domestic projects scored RM489 million, while international projects injected another RM229 million. As at the end of Mar 2025, S P Setia is recording a robust unbilled sales pipeline of RM3.8 billion. In addition, they are currently executing 42 active projects.
To put things into perspective, S P Setia took a strategic decision to reduce its borrowings by RM156 million in 1Q. This step resulted in a net gearing ratio of 0.35 times. This greater financial prudence goes hand-in-hand with the company’s stated goal of improving capital efficiency at the same time it grows its geographic footprint.
“Our financial performance during the quarter underscores our continued efforts, persistence and implemented strategies, as we adjust to the current market needs and conditions,” said Datuk Choong Kai Wai, President and CEO of S P Setia Bhd. He stressed the company’s focus on leading through the uncertainty brought about by volatility in the markets.
Moving forward, S P Setia has earmarked RM5.1 billion worth of property launches for FY25. This involves the rollout of RM300 million worth of industrial projects. The company is especially looking to accelerate its portfolio. It will do so by focusing on township developments and eco-industrial parks, building strategic partnerships, and creating tangible value in priority growth corridors.
Though the market remains unstable, we’ll continue to draw on our well diversified portfolio. We will achieve the highest capital efficiency possible while deepening our footprint into high growth accretive segments,” explained Datuk Choong.
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