Alramz’s 9M 2026 profit falls 73% to SAR 64.4M; Q3 profit at SAR 10.13M

The company attributed the profit decline to lower margins on off-plan sales and previously held inventory and a 39.9% year-on-year (YoY) increase in operating expenses to SAR 57.7 million, mainly due to higher administrative expenses and depreciation.

In addition, the developer reported lower net investment gains of SAR 12.5 million versus SAR 66.8 million in 9M 2025, due to reduced fund revaluation gains and higher finance costs amid increased borrowing.

These factors were partially offset by a 37.08% YoY increase in revenue to SAR 1.18 billion, driven by growth in off-plan sales, unit sales, and third-party development.

Revenue excluding off-plan property sales rose 107.1% YoY to SAR 641.6 million.

Higher other income and finance income, along with lower Zakat expenses, also helped offset the decline.

Q3 2026 net profit plunged 94.1% to SAR 10.13 million, compared to SAR 171.43 million in Q3 2025.

The decline was mainly driven by a 57.53% YoY drop in revenue to SAR 271.7 million, as the year-earlier quarter included SAR 552.7 million in off-plan property sales, with no comparable transactions in Q3 2026. Higher revenue from other activities, up 212.4% YoY, partly offset the decline, while higher operating expenses and finance costs further weighed on earnings.

Sequentially, net profit fell 60.5% from SAR 25.61 million in Q2 2026.

Total shareholders’ equity, no minority interest, stood at SAR 1.84 billion as of Sept. 30, 2026, up from SAR 953.43 million in the year-earlier period.

Attached document:

View More Financial Results