By Chan Wei Chao (REN 39846), Team Leader, Bricksmen Team · IQI Realty Sdn. Bhd. · Updated 12 November 2026
S P Setia Bhd recorded RM2.34 billion in sales for the first nine months of 2026 and reduced its borrowings by RM402 million over the same period. Third-quarter results were weaker: net profit fell 52.1% to RM32.61 million as revenue dropped.
Key numbers
| Measure | Figure |
|---|---|
| Sales, January to September 2026 | RM2.34 billion |
| Sales, third quarter | RM918 million |
| Borrowings reduced (nine months) | RM402 million |
| Net gearing, 30 September 2026 | 0.30 times (0.35 times a year earlier) |
| Third-quarter revenue | RM672.55 million, down 22.9% from RM872.26 million |
| Third-quarter net profit | RM32.61 million, down 52.1% from RM68.03 million |
| Nine-month revenue | RM2.32 billion, down 10.3% |
| Nine-month net profit | RM161.80 million, down 31.1% |
Where third-quarter sales came from
- Central and southern regions: 56%
- International projects, mostly in Vietnam: 32%
- The remaining 12% came from other regions, which the report did not break down.
Upcoming overseas milestones include residential units at Sapphire Tower 2 in Melbourne, targeted for launch in December 2026, and Setia Edenia in Ho Chi Minh City, on track for completion in 2027. Atlas Melbourne, which broke ground on 17 September, has sold more than 60% of its units.
What it means for buyers
- Balance sheet: lower borrowings and net gearing of 0.30 times point to a stronger financial position.
- Profit: the drop in third-quarter profit came with lower revenue. Revenue is recognised as projects are built, so it does not move in step with sales.
- Before you buy: a listed developer’s results are one check. Also look at the specific project’s progress, title and completion date.
S P Setia projects in Penang on this site
| Project | Area | Type | Indicative price | Completion |
|---|---|---|---|---|
| Setia Fontaines (Amansara North) | Kepala Batas | Single- and double-storey terrace and superlink house | RM510,000–RM860,000 | Completed |
| Casa Rica (Phase 2) | Bayan Lepas | 2-storey semi-detached house | From RM2,377,500 | Completed |
Frequently asked questions
How much did S P Setia sell in the first nine months of 2026?
RM2.34 billion.
How much debt did it cut?
Borrowings fell by RM402 million over the nine months, and net gearing was 0.30 times at 30 September 2026.
Why did profit fall?
Third-quarter revenue fell 22.9% to RM672.55 million, and net profit fell 52.1% to RM32.61 million.
Interested in S P Setia’s Penang homes?
I can check current availability and prices for Setia Fontaines and Casa Rica. WhatsApp or call +60 10-313 9113.
Sources
- EdgeProp: S P Setia records RM2.34b sales, cuts borrowings by RM402m
- NST: S P Setia posts RM32.61mil net profit in Q3
This article is general information based on published reports as of 12 November 2026. It is not investment advice. Project prices are indicative and depend on availability.