Kuala lumpur: IOI Properties Group Bhd's net profit jumped 3.39 times year-on-year to RM258.11 million in the third quarter ended March 31, 2026, for the current financial year (3Q FY2026) from RM76.13 million in the same period last year.

According to BERNAMA News Agency, revenue also surged to RM1.05 billion from RM755.16 million previously. In a filing with Bursa Malaysia today, the property developer said the increase in both revenue and earnings was mainly due to the consolidation of Singapore-based Scottsdale Properties Pte Ltd following the acquisition of the remaining 50.1 per cent equity interest last year.

It said the performance was also due to higher contributions from its property development segment, following the recognition of RM130 million from the sale of land in Melaka in the current quarter, as well as stronger contributions from the property investment segment, driven by higher occupancy at IOI Central Boulevard Tower.

For the nine-month period ended March 31, 2026, IOI Properties said its net profit soared to RM1.63 billion from RM240.08 million previously, while revenue surged to RM3.06 billion from RM2.17 billion previously.

Moving forward, group chief executive officer Datuk Lee Yeow Seng said the group's property investment segment is poised to continue its upward trajectory, supported by the improving physical occupancy levels at IOI Central Boulevard Towers and South Beach Tower. 'Complementing the growing property investment segment, the group's diversified product offerings across three countries (Malaysia, Singapore and China), the positive outlook of the hospitality and leisure segment and the favourable interest rate are anticipated to provide a strong foundation for sustained earnings for the 4Q of the financial year,' he said in a separate statement.

No dividend was declared for the 3Q FY2026.