Saturday, 25 February 2017

(The Star) Enra profit doubles to RM11mil on Cheras property project

PETALING JAYA: Enra Group Bhd’s net profit doubled in the third quarter ended Dec 31, 2016 to RM10.9mil from RM5.06mil the year before, thanks to its property development project in Cheras.

Revenue for the quarter grew by 55% to RM79.67mil from RM51.44mil previously.

In a filing with Bursa Malaysia, the company said its property development project in Cheras, known as Shamelin Star, was completed and recorded a 41% growth in revenue to RM111.5mil.

The property project comprised 630 apartment units and a retail podium with an estimated gross development value (GDV) of RM341mil. About 95% of the residential units have been sold. Enra was completing its maiden residential project in London with an estimated GDV of £10mil (RM57mil).