KUALA LUMPUR: Matrix Concepts Holdings Bhd continues to show good performance, having secured RM354.3 million in new property sales in the third quarter ended Dec 31 2024 (Q3 2025).

This was a 2.6 per cent increase year-on-year compared to RM345.3 million in Q3 2024 on resilient demand for the company’s affordably priced premium quality property developments, Matrix Concepts said today.

Throughout the nine months ended December, new property sales grew 5.8 per cent to RM1.0 billion from RM961.4 million previously, driven by strong performance across various projects, it added.

The Negri Sembilan-based property developer recorded a net profit of RM43.3 million in Q3 2025 compared to RM57.2 million in the previous corresponding quarter, while revenue stood at RM280.9 million versus RM296.0 million previously.

Matrix Concepts said the results were primarily due to the delay in revenue recognition from Sendayan Developments in Seremban and Bandar Seri Impian in Kluang, Johor.

“The deferred recognition is expected to be recouped in the upcoming quarters. The lower profit also reflects increased administrative and general expenses, and higher finance costs associated with the land acquisition of our upcoming Malaysia Vision Valley City (MVV City) development,” it added.

Group revenue for the nine months amounted to RM881.7 million, down from RM986.8 million previously.

This was due to lower contribution from the property development division at RM830.7 million compared to RM957.7 million previously, due to the timing of launches and revenue recognition, Matrix Concepts said.

Its revenue during the third quarter was partially mitigated by strong recognition of RM14.3 million from its second high-rise development, Levia Residence in Cheras.

“Our flagship Sendayan Developments in Negri Sembilan continues to attract strong interest,

particularly from homebuyers seeking quality living experiences beyond the city centre,” Matrix Concepts chairman Datuk Mohamad Haslah Mohamad Amin said.

“We also see healthy take-up for our high-rise development in Klang Valley, Levia Residence, and accelerated the launch of its second phase to meet demand. With the latest sales performance, we are on track to achieve our RM1.3 billion sales target for the current financial year.”

As at Dec 31 last year, Matrix Concepts’ unbilled sales stood at RM1.42 billion, 21.1 per cent higher year-on-year, providing strong visibility for future earnings recognition over the next 15 to 18 months.

In addition to its ongoing projects, Matrix Concepts is poised to develop its next major development, the MVV City in Seremban, which covers 2,382 acres with a gross development value of RM15 billion over 12 years.

This large-scale mixed-use development will cater to the growing demand for residential, commercial, and industrial properties in the region, Mohamad Haslah said.

With initial launches planned for the financial year ending March 31 2026, MVV City is expected to be a major growth driver for the company in the coming years.

Matrix Concepts said in addition to its strong property development business, revenue from the company’s education and hospitality segments showed positive growth, collectively increasing by 39.3 per cent to RM13.7 million from RM9.8 million previously.

This is attributed to better performance in the education unit from increased student enrolment.

The healthcare segment, via Mawar Medical Centre in Negri Sembilan, contributed a revenue of RM2.7 million after commencing contributions in the second half of the financial year.