Mitrajaya Outlook Supported By Data Centre Exposure, Strong Order Book

KUALA LUMPUR: Mitrajaya Holdings Berhad expects its growth momentum to remain intact, supported by stronger revenue recognition in the coming quarters, strategic exposure to data centre developments and a healthy construction order book.

The group’s outlook is underpinned by its RM696.4 million outstanding order book and average annual replenishment target of RM1.4 billion, which is expected to drive earnings growth through FY2026 to FY2028.

Its involvement in NEXTDC’s KL1 hyperscale data centre project is also anticipated to support earnings over the next two financial years, while potentially delivering higher construction margins.

Mitrajaya Outlook

For the first quarter ended March 31, 2026, Mitrajaya posted a core net profit of RM18 million, up 8.2 per cent year-on-year but down 25.2 per cent quarter-on-quarter. The results came within expectations, accounting for 13.2 per cent of full-year forecasts.

The year-on-year improvement was driven mainly by stronger contribution from the construction division, with revenue surging 101.9 per cent to RM224.2 million.

However, quarterly earnings were affected by slower work recognition and weaker property sales, alongside seasonal factors including a higher number of public holidays during the quarter.

Analysts maintained a “BUY” call on the stock with an unchanged target price of RM1.28.

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