OCR Group Berhad (“OCR” or the “Group”), an integrated real estate company specialising in property development and project management, announced its unaudited financial results for the first quarter ended 31 March 2025 (“Q1 FY2025”), with revenue of RM32.8 million and profit before tax (“PBT”) of RM0.37 million, sustaining profitability amidst a normalising cost environment following the completion of key developments.
For the current quarter, the Group posted RM32.8 million in revenue, marginally lower than RM34.0 million in Q1 FY2024, due to the completion of construction works at Isola KLCC. Nevertheless, the Group remained profitable, delivering PBT of RM0.37 million, compared to RM0.91 million in the previous corresponding quarter. The softer performance was anticipated, given the reduced contribution from completed projects. Revenue for the quarter was primarily derived from progress in ongoing residential developments such as The Mate @ Damansara Jaya, Stellar Damansara, and Kyra Collection (“Kyra”) – Residensi Akasia. These projects continue to underpin OCR’s earnings visibility while new phases are being prepared for launch.
On a quarter-on-quarter (QoQ) basis, revenue rose significantly from RM4.0 million in Q4 FY2024, reflecting the completion and billing of Isola KLCC in the current quarter. However, PBT normalised to RM0.37 million from RM3.80 million in the immediate preceding quarter, which had included one-off gains from the revaluation of investment properties.
Group Managing Director of OCR Group Berhad, Billy Ong Kah Hoe commented, “While margins moderated this quarter following the completion of key projects, our topline recovery demonstrates the strength of our development portfolio. We continue to focus on prudent cost management, timely project execution, and tapping into strategic government-backed initiatives to expand our affordable housing offerings.”
With a healthy pipeline of projects, OCR continues to be well-positioned to tap into growing demand in both the affordable and mid-market segments. The successful launch of Residensi Akasia, Phase 1 of the Kyra development in Shah Alam under the Rumah Selangorku scheme, received overwhelming response and is expected to be a key revenue driver in the coming quarters.
The Group is also preparing to launch D’Templer Hilltop Residences in Rawang, a RM344 million GDV project targeted for Q2 2025. Strategically located with natural surroundings, this upcoming project aligns with OCR’s strategy to deliver lifestyle-oriented urban housing with broad market appeal.
Looking ahead, OCR will continue to focus on market-driven developments that meet evolving homebuyer preferences. With supportive policies under Budget 2025, including the RM10 billion Housing Credit Guarantee Scheme, and a projected national GDP growth of 4.5% to 5.5%, the Group anticipates stable property demand in key growth corridors.
