Bukit Sembawang Estates (B61) H2 2025 earnings summary

Executive summary

• FY2025 net profit rose 61% YoY to $114.3m, mainly on higher profit recognised from LIV @ MB, The Atelier and Pollen Collection.

• Total equity reached $1.593b at 31 March 2025.

• Construction remained on track; LIV @ MB received TOP in March 2025, and 297 of 298 units had been delivered.

Financial highlights

• Revenue was $550.0m versus $562.0m in FY2024; profit from operations rose to $122.9m from $71.5m.

• Profit before tax was $137.4m versus $82.6m; profit after tax was $114.3m versus $70.8m.

• Net finance income increased to $14.5m from $11.1m, primarily reflecting higher interest income on fixed deposits.

• Operating cash flow was $173.8m versus $210.0m; cash and cash equivalents ended the year at $582.4m.

Outlook and guidance

• Nim Collection Phase 4, comprising 186 99-year leasehold landed homes, is planned for launch in Q3 2025; construction is underway and TOP is expected in Q2 2028.

• Pollen Collection is expected to sell out in the next FY, with TOP targeted for Q2 2026; the remaining 8 @ BT units will be marketed at a measured pace.

• The outlook cites global and local macro uncertainty; strategy prioritises high-quality homes and value propositions for Singaporeans and Permanent Residents.