BRC Asia - Phillip Securities 2026-02-16: Order Book Spike Of 47% Drives Future Growth

• BRC Asia (SGX:BEC) provided 1QFY26 update with limited financials. 1QFY26 revenue/PATMI were within expectations, at 27%/26% of our FY26e forecasts. 1QFY26 PATMI surged 40% y-o-y to S$27.3mil, driven by an estimated 42% y-o-y higher delivery volumes from stronger project offtake.
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• We believe BRC Asia can secure further contract wins in the coming quarters, including MBS Integrated Resort (IR) expansion contracts, New Tengah General & Community Hospital, and MRT LTA extension contracts.

The Positives

Record order book.

• - Read this at SGinvestors.io -
• We believe most of the order book will be completed within the next two years, notably with BRC Asia’s S$570mil Changi Airport T5 contract progressing.

Highest revenue growth since 3Q22.

• Read more at SGinvestors.io.

Above is an excerpt from a report by Phillip Securities Research.
Clients of Phillip Capital may be the first to access the full PDF report @ https://www.stocksbnb.com/.

Previous report by Phillip:
2025-12-01 BRC Asia 2HFY25 - Adjusted PATMI Spiked 36% Y-o-y.

Price targets by other brokers at BRC Asia Target Prices.

Listing of research reports at BRC Asia Analyst Reports.

Relevant links:
BRC Asia Share Price History,
BRC Asia Announcements,
BRC Asia Dividend Payout Dates & Corporate Actions,
BRC Asia News